STEPHEN S.
BASTATAS
GE11 ENTREPRENEURIAL MIND REVIEWER
COVERAGE MODULE 3
History of Opportunity. As living. People exploit this opportunity
discussed in the previous section, the
term entrepreneurship was invented
last 17th century. However, many
archaeological evidence can prove
that business activity exists since the become a common event in society,
prehistoric times and it experiences
continuous evolution. As this happens,
opportunity tend to evolve also
depending on the changes occurred
on human activity and behavior. Thus,
it can be implied that in terms of
evolution entrepreneurship and create decorative crafts and make
opportunity have positive correlation.
History of Opportunity Source:
Founders and Founders As shown in
the figure above, opportunity exists
since prehistoric times. People (the
term entrepreneur is not yet coined)
created value by exploiting every
opportunity created by numerous
changes occurred which was
influenced by sumptuous factors. Also,
human survival played a crucial role in
the evolution of opportunity and the
creation of value from it since it
prompts them to believe that
entrepreneurial activity enables them
to increase the chance of surviving the
world that is full of uncertainties and
risks.
The Hunter’s Age: During this period,
the ability of people to create value
depends on the nature’s ability to
provide food and other natural
resources. Also, during this time,
people realized that it is easier to take
other peoples’ crops and other
essential resources for survival. With
that, war becomes popular and wealth
bags a bad reputation.
The Warrior Age: Given the fact that
stealing other peoples’ resources is
common during this time, people seek
for refuge and created a stable form of
society and maintain a steady supply
of warriors to maintain safety way of
as Kings award warriors who bring
victory with land and slaves.
The Craftsman’s Age: As war
some people (peasants who are too
smart but not aggressive to become
warriors) realized that Kings and
warriors will not plunder or kill them.
Thus, these people exploit this
opportunity by offering their ability to
things beautiful and attractive.
Explorers’ Age: As cities continuously
grows, resources become scarce, and
people tend to seek new land for them
to plant crops and other resources for
their survival. This scenario prompted
them to construct ships for exploring
unknown lands. When they return,
they bring valuable raw materials such
as silks and spices which brings
wealth and money.
Merchants’ Age: As faraway lands
are discovered, people did not mind
the risk of travelling and brings back
valuable spices and other materials
such as porcelain, gold and salt.
Mechanization Age: As craftsmen
continue to seek new knowledge in
perfecting their skills, they created
machinery. With machines, people
tend to mass produce things and
materials thus creating value faster
than ever before. Thus, owning a
machine became the next important
thing.
Industrialization Age: As machines
become increasingly sophisticated,
brought by electricity, production reach
fastest rate
Oil Age: Since mass production
becomes visible, cheap things such as
STEPHEN S. BASTATAS
GE11 ENTREPRENEURIAL MIND REVIEWER
COVERAGE MODULE 3
cars supplied new opportunity for successful startup provides prestige an
people to exploit and create value from honor to them hence, encouraging
it. The demand for oil becomes them to do so. Today, start-up is the
increase at unprecedented rate and most common way of creating value
people realized that by drilling oil you and making money
can be the new big guy of society
(Getty and Rockefeller Family).

Corporate Age: During this time,

people realized that they can serve
multiple target market by building
corporation that is capable to establish
production and distribution office from
different regions. Consumers become
more exposed to new and
sophisticated products.

Financial Age: As corporation aspire

for growth and expansion,
capitalization is of another issue.
Financial institutions such as banks
provides the much-needed capital for
such activity. Also, corporations with
less business activity and with
declining financial performance is
another opportunity for financial
institutions to purchase, restructure
and revive its operations.

Information Age: As corporations

grow and employ increased people,
information becomes vital and
significant. Holding essential
information such as customer
information is another way of winning
the game and competition. This
scenario leads to the development of
technology that can manage massive
data and information.

Start-up Age: As some people

realized that employment is not the
key for their success, they tend to
realize that entrepreneurship is a key
to fulfill their dreams. People decided
to scan environment for any possible
opportunities and created value and
made money from it and technology
contributes in lowering the cost of
starting a business. Becoming a