College of Education

Agricultural Science and Technology School

Central Luzon State University
Science City of Muñoz, 3120
Nueva Ecija, Philippines

Instructional Module for the Course

ENTREPRENEURSHIP

Quarter 1- Module 1

Name of the Student: CARLA PAULA A. CARBONEL

Prepared by: MS. ABBY GAYLE D. ROQUE

E-mail Address: agroque@asts.ph.education
agroque@clsu.edu.ph
 ENTREPRENEURSHIP

Overview
The role of entrepreneurs in economic development varies from
economy to economy, country to country, depending upon its material
resources, industrial climate and more importantly, the responsiveness of the
political system to the growth of entrepreneurs. Liberalization and the new
economic policy has thrown upon the doors for every entrepreneur to seek its
own fortunes and thus contribute to the growth of the economy.
Entrepreneurship is an important input of economic development. He is
a catalyst of development. They are the prime movers of industrial
development in a country. Entrepreneur are found in every economic system
and in every type of economic activity. Artisans, traders, importers, engineers,
exporters, bankers, industrialists, farmers, forest workers, tribal,
professionals, politicians, and bureaucrats, any one from these could be
entrepreneur. The nature of entrepreneurs differs according to their functions.

Objectives

On the successfully completion of the module, students will be able to:

Define Entrepreneur,
Differentiate Entrepreneur and Entrepreneurship,
Determine the History of Entrepreneurship,
Enumerate the Characteristics of Entrepreneur,
Identify the Types of Entrepreneur,
Differentiate Entrepreneur, Manager and
Capitalist.
Entrepreneur

Entrepreneurship, like an Entrepreneur, has no single definition.

Entrepreneur is a person who organizes, operates, and assumes the

risk for business ventures.

Entrepreneur is an adventurer, undertaker, and projector. His or her

function is to accumulate and supply capital.

Canutillo stated that Entrepreneur is one who bears uncertainty, buys

labor and materials, sells product at uncertain prices.

Schumpeter stated that Entrepreneur is an innovator. He does things in

a new way. He supplies new product; makes new techniques of

production; discovers new markets and develops new source of raw
materials.

Peter Drucker stated that an Entrepreneur always searches for change,

responds to it and exploits it as an opportunity.

Economist explains that an Entrepreneur is one who shifts economic

resources from an area of lower productivity to an area of higher

productivity and greater yield.

Geoffrey Meredith stated that Entrepreneurs are people who have the

ability to see and evaluate business opportunities, to gather the

necessary resources and to take advantage of them, and to initiate
appropriate action to ensure success.
Entrepreneur and Entrepreneurship

Entrepreneur is a person while entrepreneurship is a process.

Entrepreneurship is a process under taken by an entrepreneur to create

increment value and wealth by investment, organizing enterprise and

undertaking risks to contribute to the economic growth.

History of Entrepreneurship

The Beginnings of Entrepreneurship and Trade

Nearly 20,000 years ago- first entrepreneurs traced back

17, 000 BCE- the first known trading between humans took place in New
Guinea
Locals would exchange obsidian for other needed goods – like tools,
skins, and food.

Entrepreneurship and the Agricultural Revolution

12,000 years ago- first big shift in entrepreneurship took place during the
Agricultural Revolution
Humans started to domesticate plants and animals and remain stationary in one location
and farm the land.
Villages and towns started developing close to fertile lands.
By specializing in different professions, members of the community could trade valuable
goods for food.
o hunting and gathering, fishing, cooking, tool-making, shelter-
building, clothes-making (area of specialization)
Farmers sell food at market to a clothes-maker so that they no longer needed to
make their own clothes.
Different social institutions arose around these permanent structures, including
religious centers, courts, and marketplaces.
o pottery, carpentry, wool-making, masonry- new areas of
specialization as time went on

Standards of living continued to increase. Entrepreneurs were constantly at the forefront of

innovation.
 The Expansion of Trade Routes from 2000 BCE

Between the Agricultural Revolution and 2000 BCE- cities started to appear

around the world.

o Nile, the Tigris and Euphrates, the Indus, and the Yellow and Yangtze -
early areas of civilization were concentrated here
o Cities in Sumeria (3,000 BCE)- tens of thousands of people.
o City of Uruk- banks of the Euphrates, home to 50,000

As cities sprang up around the world, entrepreneurship took an important turn.

Entrepreneurs were still specializing in all of the areas like pottery, carpentry,
tool-making, etc. But they began to realize that profits could be made by
trading between cities and cultures.

The right international trade route could make an entrepreneur very wealthy.
o Trading salt from Africa across the Roman Empire
o Trading technologies like Chinese paper-making around the world
o Trading rice from China across Asia
o Trading coffee, lemons, and oranges from Arabia into Europe
o Trading complex ideas like the Arabic number system into Europe (this
occurred in the year 1200 by Italian trader named Leonardo Fibonacci).
o Trading gunpowder (a combination of carbon, sulphur, and potassium
nitrate) from China to other parts of the world

2000 BCE- weapons trading was particularly important

- iron was discovered- lead to the world’s first empires

Trade routes were about more than just raw resources and goods. They were
also about ideas and technologies. In this way, entrepreneurs were responsible for
spreading ideas around the world
Entrepreneurship and the Invention of Money

One of the key developments in the history of entrepreneurship was the

invention of money.
Prior to the invention of money, all entrepreneurship and trade took
place through the barter system.
Coincidence of wants- limit of barter system
Ancient Iraq- found the earliest form of currency (silver rings and silver bars).
2000 BCE- early forms of money have been discovered. It was called Specie
(seashells, tobacco leaves, beads, or large round rocks).
Paper money and coinage would be developed.
Currency gave entrepreneurs several important things:
o It facilitated long-distance trade.
o It acted as a medium of exchange.
o It provided a way for entrepreneurs to store value.

Currency changed the fate of entrepreneurship

Entrepreneurship and the Beginnings of the Marketplace in the Medieval Period

Markets became more and more popular.

o Larger populations required larger marketplaces where they could
purchase food, clothing, services, and other important things.
Some of the important developments that took place in entrepreneurship during
this period:
o Banking grew to new heights and complexities as small business
owners had greater financing needs.
o The guild system expanded, giving skilled craftsmen and other
entrepreneurs a way to organize their business together, regulate the
quality of the goods produced, and develop reputations for certain goods
in towns across medieval Europe.
o Entrepreneurs were able to purchase goods from abroad, turn those
goods into finished products, and then sell those goods for a profit at a
wider scale than ever before
The Unexpected Stifling of Innovation

Many entrepreneurs had their inventions and innovations stifled.

Prior to the advance of merchants and explorers, many people frowned upon
the accumulation of capital. Innovation was often – perplexingly – blocked
around the world. There are even examples were visionary entrepreneurs
had their inventions stifled because they weren’t seen as beneficial for
society.
This period still gave rise to some of the world’s most influential technologies,
including the windmill, paper mill, mechanical clock, the map, and the printing
press, among many others.
It paved the way for future entrepreneurs to use innovation to capitalize on
growing trends.

Mercantilism, Explorers, and the New World from 1550 to 1800

1550 to 1800- gave rise to the philosophy of mercantilism.

-believed that there was only a finite amount of wealth in the world.
A country’s wealth and value was solely based on how much treasure and
gold it could obtain, and how many more exports it could sell compared to
imports.
Columbus’s “discovery” of the New World in 1492- would permanently
change entrepreneurship. Mercantilist ideals combined with a vast New
World to discover made early explorers some of the wealthiest entrepreneurs.
Entrepreneurs- known more as merchants and explorers than as entrepreneurs.
-they raise capital, take risks, and stimulate economic growth.
See this period as the beginnings of capitalism.
This period was related to the goods and materials brought back from the
new world.
Silver imports from the New World, for example, fueled expanded trade
across the Atlantic Ocean. Later on, gold would provide similar motivation.
Luca Pacioli’s accounting advances. She created standardized principles for
keeping track of a firm’s accounts. These principles would later be used by
the era’s explorers and merchants.
 Entrepreneurship in the 1800s Onward: Machines and Markets

Many people see the last 200 years of entrepreneurship as being fueled by
“machines and markets”.

Capitalism became more entrenched in societies around the world.

Adam Smith’s work- “An Inquiry into the Nature and Causes of the Wealth of
Nations”, where he destroyed the idea of mercantilism.

Self-interested was the driving force in societies around the world.

Entrepreneurs were able to act in self-interest while still improving society as a

whole.
o Robert L. Heilbroner explains this theory in The Worldly Philosophers:
“A man who permits his self-interest to run away with him will find that
competitors have slipped in to take his trade away; if he charges too
much for his wares or if he refuses to pay as much as everybody else
for his workers, he will find himself without buyers in the one case and
without employees in the other.”

The competition of the marketplace regulates self-interest and leads to a type of

entrepreneurship that fuels innovation, improves the standard of living, and increases
the wealth of nations.
The Industrial Age and Entrepreneurship

18th century- Entrepreneurship moved from small-scale production in small towns to large-
scale production in big cities.

Availability of Energy Production

o Businesses were no longer restricted by small-scale energy powered by wind
or falling water.
o Rely on technologies like electricity, steam, the internal combustion
engine, the locomotive, the automobile, and oil- means to make large- scale
factories.
Availability of Labor
o Huge populations began moving to Industrial Revolution cities starting in the
1700s.
o This gave entrepreneurs a large pool of cheap labor with which to work.

Powerful market forces would give rise to some of the world’s greatest entrepreneurs
and innovators.
America played a particularly prominent role during this period, giving rise to
entrepreneurs like Andrew Carnegie, J. Morgan, John D. Rockefeller, Frank
Kenan and Henry Ford.

Post World War II Entrepreneurship

The economy was increasingly global and becoming more global every decade.
Better means of shipping and communication made it easy for entrepreneurs to sell products
and services to a global audience.
Massive economies like America could no longer afford to concentrate solely on selling
products to American marketplaces.
In America, car ownership made it more important to have highways between major
cities. As highways became more important, restaurants were needed where people
could eat while traveling.
Ray Kroc created a standardized restaurant that cut down on costs by serving a
limited number of men items. Then, he replicated that model.
General Electric, aircraft companies like Lockheed, IBM, and Holiday Inns- companies
that prospered during this period.
Japan- became one of the world’s largest economies by exploiting a large
population available for cheap wages.
Germany- experienced a similar trajectory.
Modern Entrepreneurship

Entrepreneurs are the lifeblood of economies all over the world.

The global economy
o combined with modern infrastructure and communications
o introduced a new age of competition to the world of entrepreneurship
o many of these entrepreneurs can access cheaper means of
production
o they may have better access to raw resources of cheap labor

Fill out the blank boxes with words that best describes the
Task 1 given word below.

ECONOMY TO
ECONOMY INNOVATORS

ENTREPRENEUR

EVALUATE ORGANIZE,
BUSINESS OPERATES,
SELL ASSUME THE RISKS
OPPOTUNITY
PRODUCTS, IN A
UNCERTAIN
PRICE

10 points
 Give two happenings in the following
TASK 2 periods. Write it in the space provided below.

Medieval period 1550 to 1800

1.markets
1. became more and 1.columbus’s discovery of the
more popular. 1. World in 1492- would
New
permanently change
2. banking grew to new heights entrepreneurship.
and complexities as small
business owners had greater 2. Luca Pacioli’s accounting
2. 2.
financing needs. advances. She created
standardized principles for
keeping track of firm’s accounts.

Industrial age Post World War II

1. entrpreneurship moved from 1.germany-experienced a similar

Small-scale production in small trajectory
towns to large-scale production
in big cities. 2. japan- became one of the
2. America played a particularly world’s largest economies by
Prominent role during this period, exploiting a large population
Giving rise to entrepreneurs like available for cheap wages.
Andrew Carnegie, J. Morgan,
John D. Rockefeller, Frank kenan,
and Henry Ford

8 points
 Differentiate the two words below.
TASK 3
1.Entrepreneur is a person, while entrepreneurship is a process.

2.entrepreneu is a person whoorganizes, operates and assumes the risk for

Business, while entrepreneurship is like entrepreneur it has no single definition.

3.entrepreneurship is an important input of economic development. They are

the prime movers of industrial development in a country. While entrepreneur
are found in every economic system and in every type of economic activity.

Entrepreneur and Entrepreneurship

6 points

Characteristics of Entrepreneur

Characteristics are distinguishing traits or qualities of an individual. These are

favorable interdependent characteristics which make one successful and extraordinary
person.

Decision- maker
Entrepreneur makes decisions on how to improve the products, how to
explore new markets, how to continuously satisfy consumers, and how to
maximize profits.

Innovative
Entrepreneurs are creative. They make new things in different ways.
They are interested in exploring the unknown, and blaze new paths for
progress.
Reasonable risk-taker
enjoys challenges but are careful and experience less damage. Life is
very uncertain. A successful entrepreneur faces the fact that in business there
are success and failure.

Hardworking
Successful people work far beyond the regular time-schedule. They
enjoy challenges and difficult tasks, and love their work.

Self-confident
Entrepreneurs have a strong belief in their abilities, talents and skills.
They do not accept things as it ordinarily exists.

Positive thinker
They always think of the bright sides of life that success begets success.
If one thinks of doing the right things it will not turn out wrong.

Leadership
Entrepreneurs are task-oriented, they are effective planners, organizers,
implementers and achievers

Study the characteristics of entrepreneur so that you

TASK 4 can answer the following questions below. 2-3 sentences

How to become a good leader?

Being a good leader must be good in making a decision, so that he/she can
continuously satisfy consumers, also be creative in every ways so that you can
explore new things, be a positive thinker so that you can think of the bright
side, also be a hard working leader, it can lead to a success. Also you must be task-
oriented, have planners, be organize, and be reasonable thinker. 5 points

What will be the outcome if you always think a failure or negative thoughts?
If I always think negative thoughts, you can’t be a successful, you just think the
outcome will be failure, you can’t move on to next level. If you think negative,
the way you think it will affects your emotion so does it will affect your business.

5 points
 How being an innovative can help the business?
Being a innovative makes you explore different ways, make new things, blaze
new paths, and ea creative. It can help the business by attracting consumer
by being creative. Some entrepreneur always focus on their work, and if there is a
mistake they will blame their self, so does it will affect all the business.
5 points
Types of Entrepreneur

1. On the Basis of Economic Development

A. Innovating Entrepreneur
Entrepreneurs who have creative and innovative ideas of starting a new
business. An innovating entrepreneur sees the opportunity for introducing a new
technique or a new product or a new market. He may raise money to launch an
enterprise, assemble the various factors, and choose top executives and the set the
organization going.
B. Adoptive or Imitative Entrepreneur
The imitative entrepreneurs copy or adopt suitable innovations made by the
innovative entrepreneurs. They do not innovate the changes himself. They only imitate
technology innovated by others.

C. Fabian Entrepreneur
Entrepreneurs are shy and lazy. This type of entrepreneurs has neither will
to introduce new changes nor desire to adopt new methods of production innovated by
the most entrepreneurs. They follow the set procedures, customs, traditions and
religions.

D. Drone Entrepreneur
Entrepreneurs who refuse to copy or use opportunities that come on their way.
They are conventional in their approach and stick to their set practices products,
production methods and ideas. They struggle to survive not to grow.

2. On the Basis of Type of Business

A. Business Entrepreneur
Entrepreneurs who conceive an idea for a new product or service and then create
a business to materialize their idea into reality. They tap the entire factor of production to
develop a new business opportunity. They may set up a big enterprise or a small scale
business
B. Trading Entrepreneur
Entrepreneurs undertake trading activities and are not concerned with the
manufacturing work. They identify potentiality of their product in markets,
stimulates demand for their product line among buyers. They may go for both domestic
and overseas trade.
C. Industrial Entrepreneur
Entrepreneur is essentially a manufacturer who identifies the needs of customers
and creates products or services to serve them. He is product-oriented who starts
through an industrial unit to create a product like electronic industry, textile unit, machine
tools.
D. Corporate Entrepreneur
Entrepreneurs used his innovative skill in organizing and managing a corporate
undertaking. A corporate undertaking is a form of business organization which is
registered under some statute or Act like a trust registered under the Trust Act,
or a company registered under the Companies Act.
E. Agricultural Entrepreneur
Entrepreneurs are those who undertake agricultural activities as
through mechanization, irrigation and application of technologies to produce the crop.
They cover a broad spectrum of the agricultural sector and include agriculture and allied
occupations.

3. According to the Use of Technology

A. Technical Entrepreneur
With the decline of joint family business and the rise of scientific and technical
institutions, technically qualified persons have entered the field of business. These
entrepreneurs may enter business to commercially exploit their inventions
and discoveries. Their main asset is technical expertise.
B. Non-technical Entrepreneur
Entrepreneurs are those who are not concerned with the technical aspects of the
product or service in which they deal. They are concerned only with developing
alternative marketing and promotional strategies for their product or service.
C. Professional Entrepreneur
Entrepreneur is an entrepreneur who is interested in establishing a business but
does not have interest in managing it after establishment. A professional entrepreneur
sells out the existing business on good returns and starts another business with a new
idea.
4. According to Motivation
Motivation is the main force that promotes the efforts of the entrepreneur to
achieve his goals. An entrepreneur is motivated to achieve or prove his excellence in
their performance.

A. Pure Entrepreneur
Entrepreneur is the one who is motivated by psychological economical,
ethical considerations. He undertakes an entrepreneurial activity for his personal
satisfaction in work, ego or status.
B. Induced Entrepreneur
Entrepreneur is one who induced to take up an entrepreneurial task due to the
policy reforms of the government that provides assistance, incentives, concessions and
other facilities to start a venture. Most of the small scale entrepreneurs belong to this
category and enter business due to financial, technical and several other facilities
provided to them by the various agency of Govt. to promote entrepreneurship.
C. Motivated Entrepreneur
New entrepreneurs are motivated by the desire for self-fulfillment. They come into
being because of the possibility of making and marketing some new products for the use
of consumers. They are motivated through reward like profit.

5. According to Growth
A. Growth Entrepreneur
He necessarily takes up a high growth industry and chooses an industry which
has sustained growth prospects. Growth entrepreneurs have both the desire and ability
to grow as fast as large as possible.
B. Super-Growth Entrepreneur
Entrepreneur is who have shown enormous growth of performance in their
venture. The growth performance is identified by the high turnover of sales, liquidity of
funds, and profitability.

6. According to Entrepreneurial Activity

A. Novice Entrepreneur
A novice is someone who has started his/her first entrepreneurial venture. A
novice entrepreneur is an individual who has no prior business ownership
experience as a business founder, inheritor of a business, or a purchaser of a
business. It is not similar to early starter; a novice can also be a 50-year-old with over 25
years of experience in the industry.
B. Serial Entrepreneur
Entrepreneur is someone who is devoted to one venture at a time but ultimately
starts many. It is the process of starting that excites the starter. Once the business is
established, the serial entrepreneur may lose interest and think of selling and moving
on.
C. Portfolio Entrepreneur
Entrepreneur is an individual who retains an original business and builds a
portfolio of additional businesses through inheriting, establishing, or purchasing them. A
portfolio entrepreneur starts and runs a number of businesses.

7. Other Entrepreneurs
A. First-Generation Entrepreneur
Entrepreneurs whose parents or family had not been into business and was into
salaried service. A first-generation entrepreneur is one who starts an industrial unit by
means of an innovative skill. He is essentially an innovator, combining different
technologies to produce a marketable product or service.
B. Modern Entrepreneur
A modern entrepreneur is one who undertakes those businesses which go well
along with the changing scenario in the market and suits the current marketing needs.
C. Women Entrepreneur
The business is managed by one or more women entrepreneurs in proprietary
concerns, or in which she/they individually or jointly have a share capital of not less than
51 per cent as partners / shareholders / directors of a private limited company /
members of a cooperative society, as a Woman Enterprise.
D. Nascent Entrepreneur
Entrepreneur is an individual who is in the process of starting a new business.
E. Habitual Entrepreneur
Entrepreneur is an individual who has prior business ownership experience. The
nascent entrepreneur can either be a novice or a habitual entrepreneur.
F. Lifestyle Entrepreneur
Entrepreneurs have developed an enterprise that fits their
individual circumstances and style of life. Their basic intention is to earn an income for
themselves and their families.
G. Copreneur
It is related to the married couples working together in a business. When a
married couple share ownership, commitment and responsibility for a’ business, they are
called “copreneurs”.
H. IT Entrepreneur
Entrepreneurs are creating a new business platform that takes them straight to
the top. They are confident, ambitious innovative and acquired creativity in the
competitive global environment and created a niche of their self.
I. Social Entrepreneur
Entrepreneur is one who recognizes the part of society which is stuck and
provides new ways to get it unstuck.
J. Forced Entrepreneurs
The money-lenders of yesterday, who are thrown out of their family
business because of government legislation, the neorich Indians returning from abroad
and the educated unemployed seeking self-employment form this class of
entrepreneurs.
K. Individual and Institutional Entrepreneurs
Small enterprises outnumber the large ones in every country. A single individual
can establish, operate and control an organization up to a limit. Thereafter, it becomes
necessary to institutionalize entrepreneurship. The business will have to acquire a
number of new entrepreneurial skills through a corporate body.
L. Entrepreneurs by Inheritance
At times, people become entrepreneurs when they inherit the family business.

Study the following types of entrepreneur. In each category,

TASK 5 choose one type of it and explain it in just 3-5 sentences.

On the Basis of Economic Development

30 points
Innovating entrepreneur it have the skill of being a creative and have new
ideas coming in her minds. An innovating entrepreneur has the mindset of
seeking opportunities. It has the ability to start a new business without being
hesitate.

On the Basis of Type of Business

Business entrepreneur, it is who conceive an idea for a new product then
create it into reality. It has the ability to develop a new business. They may
set a big or small business, whether they want it or base on their ideas.
According to the Use of Technology
Professional Entrepreneur it Is who is interested in building a business but
does not have interest in managing it. It is who sell out an existing business
on good returns and start a another business. Means, entrepreneur build and
build a business then sell it out and build another that is good.

According to Motivation
Motivated entrepreneur it is who is motivated because of the desire of self-
fulfillment. They are motivated and because of that the possibility of making
and marketing some new products for the use of consumers. They are like
rewarded like profit so that they are continue making some new products.

According to Growth
Growth entrepreneur, it means wants to takes up growth industry, have the
desire and ability to grow fast as possible, because he wants it.

According to Entrepreneurial Activity

Novice entrepreneur, means entrepreneur who has started his/her first
entrepreneurial venture. It is an individual who has no experience as a
business founder etc. it is not similar to a starter, a novice is a 50 year old
with 25 years experience in the industry, but not in entrepreneurial.

Other Entrepreneurs
Modern entrepreneur, it is the one who undertakes those business go well
along with the changing over and over a year in the markets and current
marketing needs, just like it is the one who is keeping up with the trends.
Entrepreneurs, Managers, and Capitalist

Discovers and exploits opportunities

A creator who initiates and motives the process of
change
Accepts risks
Entrepreneur
Uses intuition, alert, explores new business
Leadership, initiates, new ways of acting
Identifies business opportunities
Creation of new enterprise

Capital owner: shareholders

Controlling shareholder
Passive shareholder
Capitalist
Aversion to risk taking
Assesses alternatives
Choice of venture assets

Administrates and manages

An administrator
Aversion to risk taking
Rational decision maker
Manager
Explores business
Creates and maintains competitive advantage
Creates trust to enhance cooperation
Supervision of the administrative process
 Study the different characteristics of entrepreneur,
TASK 6 capitalist, and manager. Answer the question below.

How entrepreneur, capitalist, and manager differ from each other?

Discuss it in 4-6 sentences.
Entrepreneur is the creator who initiates and motivates the process of change. It is
the one who discovers new opportunities, who accepts risks, initiates new ways of
acting. It has to be leadership. While capitalist is just a shareholder, capital owner,
controlling the shareholders, aversion to risk taking, assesses alternatives and
choice of venture assets.

10 points

Answer the following questions below. Write

TASK 7 your answer in the space provided.

1. If you will become an entrepreneur, what business do you want to have, give
the name of it, the products and services offered and why is it?

I want a to build a business in fashion industry, since I love all about arts, of
course in fashion, I want to make a dress, suits anything.. I will name it fashion
choice, cause it is your freedom to choose whatever clothes you wear, and
tagline is better choose right cause, you have to choose the right choice and be
confident. Since were in the modern age today, of course we will keeping up
with the trends that people loved. It is not all about the quality, it is the taste you
want to wear. Just choose the right thing and we will do the good service.

10 points
 Make a logo of your business. Draw it in the
space provided below. The output of yours will be
graded through rubric that you can see in the next page.
TASK 8

25 points
 RUBRIC
Criteria Very Satisfactory Fair Poor Needs
Satisfactory (4 points) (3 points) (2 points) Improvement
(5 points) (1 point)
Logo The logo The logo The logo The logo bit The logo does
clearly expresses the adequately expresses the not expresses
expresses the product or expresses the product or the product or
product or services product or services services
services through the services through the through the
through the use of through the use of use of
use of symbols and use of symbols and symbols and
symbols and manipulation symbols and manipulation manipulation
manipulation of the letters. manipulation of the letters. of the letters.
of the letters. of the letter.
Creativity The artwork The artwork The artwork The artwork The artwork
clearly demonstrates demonstrates lacks has no
demonstrates an average little personal evidence of evidence of
personal amount of expression personal personal
expression. It personal and expression expression
is very expression. It inventiveness. and and
inventive. has inventiveness. inventiveness.
inventiveness.
Design Demonstrates Demonstrates Demonstrates Demonstrates Lacks of
excellent use good use of fair use of poor use of thoughtful
of color. The color. The color. The color. The design.
design is design is design is design is very
easy to relatively difficult to difficult to
understand easy to understand understand
and visually understand and visually and visually
compelling. and visually compelling. compelling.
compelling.
Neatness The output is The output The output The output The output is
free from has a little bit has erasures, has many not pleasing
erasures, erasures, errors, and erasures, to the eye
errors, and errors, and corrections. errors, and because of
corrections. corrections. corrections. too much
errors,
erasures, and
corrections. It
looks untidy.
 References

History of Entrepreneurship. Retrieved from

https://bebusinessed.com/history/history-of-entrepreneurship/

Types of Entrepreneurship and the Economic Growth. Retrieved from

https://www.researchgate.net/publication/239614663_Types_of_Entrepreneurshi
p_and_Economic_Growth

Unit -4: Entrepreneur: Types and Functions. Retrieved from

https://ecestudy.files.wordpress.com/2015/02/entrepreneur-types-and-

functions.pdf