CANTILLON

• an entrepreneur as one who bears uncertainty, buy labor and

materials, and sells products at uncertain prices.

• He is one who takes risks and makes innovations on the factors of

production.
FRENCH CONCEPT,

• AN ENTREPRENEUR IS AN ADVENTURER, UNDERTAKER, AND

PROJECTOR. HIS FUNCTION IS TO SUPPLY AND ACCUMULATE
CAPITAL.
SCHUMPETER

• an entrepreneur is an innovator.

He does new things or does things in a new way. He supplies new

products; makes new techniques of production; discovers new
markets; and develops new sources of raw materials.
PETER DRUCKER

• entrepreneur always searches for change, responds to it and

exploits it as an opportunity.
SAY, AN 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.
AMERICAN HERITAGE DICTIONARY

• an entrepreneur as a person who organizes, operates, and

assumes the risk for business ventures.
• . The pure entrepreneurs are those who launch their own
ventures from scratch. They develop scarce resources into
successful business by their instinct for opportunity, sense of
timing, hard work, and idea-producing activity. They accelerate
the development of our economy.
GEOFFREY MEREDETH, AUTHOR OF THE PRACTICE OF ENTREPRENEURSHIP

• . 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.
MYTH OR FACT
MYTH OR FACT
MYTH OR FACT
MYTH OR FACT
REASONABLE RISK-TAKERS

SELF-CONFIDENT

HARDWORKING

INNOVATIVE LEADER

POSITIVE THINKERS

DECSION-MAKERS
Entrepreneurs enjoy challenges. But
they are careful and calculating

avoid low-risk situations, because

there are no challenges

.
 Entrepreneurs have strong faith in
their abilities.

They believe they can be the best in

their field. They do not accept things
as they are, because they believe
they can do things better.
Successful people always attribute
their success to hardwork.

Thomas A. Edison said that success

is 99 percent perspiration and 1
percent inspiration
Entrepreneurs are creative.

They do things in new and different

ways.
Entrepreneurs are leaders by the
very nature of their functions.

They are people who are task-

oriented.

They are effective planners,

organizers and implementers.

They are achievers.

 They think of success and bright
sides.
Entrepreneurs make decisions. They
cannot avoid this. Being creative or
innovative, they always make
decisions on how to improve their
products, how to create new
markets, how to increase consumers
satisfaction, or how to maximize
profits.
1. Identifying the problem;
2. Gathering the data about the
problem;
3. Analyzing the data;
4. Formulating alternative solutions;
5. Selecting the best solution;
6. Implementing the solution/decision