Origin and

Nature of
Entrepreneurshi
p
 Chapter Objectives
o Identify the origin and nature of
entrepreneurship
o Distinguish newness from innovation
o Enumerate the broad impact of
Entrepreneurship upon the economy
o Determine Contemporary views of
Entrepreneurship
 Business
o lawful
o economic activity that
o uses economic resources or inputs to
o provide goods or services to
o customers in
o exchange for money or other goods and
services.
 Three Types of Business

 Service Business-provides intangible

products (products with no physical form)
 Merchandising Business-involved in
purchasing goods that are ready for sale and
then sell these to customers
 Manufacturing Business-buys products with
the intention of using them as materials in
making a new product
 Hybrid Business-classified in more than one
type of business
 Forms of Business Organization
 Sole Proprietorship
 Partnership
 Corporation
 Limited Liability Company
 Cooperative
Livelihood vs Business vs Entrepreneurship
vs Social Entrepreneurship
Livelihood vs Business vs Entrepreneurship
vs Social Entrepreneurship
Livelihood vs Business vs Entrepreneurship
vs Social Entrepreneurship
Livelihood vs Business vs Entrepreneurship
vs Social Entrepreneurship
Livelihood vs Business vs Entrepreneurship
vs Social Entrepreneurship
 Introduction
 Is now prevalent in various professions from
education, engineering law and other areas of
orientation, including those who never has any
formal schooling in business education
 Dynamic process
 Focused on growth and expansion orientation
 Entrepreneur goes through a stage that is nurtured
by his immediate environment and the kind of
scenario and experiences he has gone through
 Not a fad, but a promising career option that can
prepare a person for a prosperous future and nation
that is progressive and prosperous as well
 Entrepreneurship

Is the process of creating something different

with VALUE by devoting the necessary time and
effort, assuming the accompanying financial,
psychic and social risks and receiving the
resulting rewards of monetary and personal
satisfaction
 Marco Polo
was an Italian merchant, explorer, and writer,
born in the Republic of Venice. His travels are
recorded in Livre des merveilles du monde, a
book that described to Europeans the wealth and
great size of China, its capital Peking, and other
Asian cities and countries
 Evolution of Entrepreneurship

Comes from the FRENCH word

ENTREPRENDE meaning “to undertake”

“between take” or “go between”

 CONTEMPORARY VIEWS ON
ENTREPRENEURSHIP

LLOYD SHEFSKY author of Entrepreneurs are

made not Born

Entre = enter
Pre= before
Neur= nerve center
 CONTEMPORARY VIEWS ON
ENTREPRENEURSHIP
Karl Vesper described entrepreneur
in a broader perspective

 To Economist an entrepreneur is one who brings

resources, labor or material into combinations that
make their value greater than before, someone who
introduces changes, innovation and change
 To psychologist entrepreneur driven by certain
forces; need to obtain or attain something, to
experiment, to accomplish
 CONTEMPORARY VIEWS ON
ENTREPRENEURSHIP

Professor Robert Nelson defined entrepreneur as

“ a person who is able to look at the environment,
identify opportunities to improve the
environment, marshal resources and implement
action to maximize those opportunities”
 CONTEMPORARY VIEWS ON
ENTREPRENEURSHIP

Joseph Schumpeter’s essay Change

and Entrepreneur described
entrepreneurship as doing things
that are not generally done in the
ordinary course of business routine
 CONTEMPORARY VIEWS ON
ENTREPRENEURSHIP

Jeffry Timmons book New Ventures Creation

- Ability to create and vision from practically
nothing. Fundamentally it is a human and creative
act. This visions requires the willingness to take
calculated risks- both personal and financial and
then to do everything possible to reduce chances
of failure
 CONTEMPORARY VIEWS ON
ENTREPRENEURSHIP

Albert Shapero

Three definitions of Entrepreneurship

 Initiative taking
 The organizing and recognizing of
social/economic mechanisms to turn resources
and situations to practical account
 The acceptance of risk and failure
 CONTEMPORARY VIEWS ON
ENTREPRENEURSHIP

Dr. NA Orcullo Jr. in his book Contemporary

Entrepreneurship
- Entrepreneur is someone who perceives an
opportunity and creates an organization and
pursues it
- The entrepreneurial process involves all the
functions, activities and actions associated
with perceiving opportunities and creating
organizations to pursue them
 Process of Entrepreneurial Activity

INITIATIVE- individual or group takes the

initiative

ORGANIZATION – resources are brought

together in organization to accomplish some
objectives
The Filipino Entrepreneur

Tony Tan Caktiong –

Jollibee

Lucio Tan- Philippine

Airline
The Filipino Entrepreneur

Henry Sy – SM
BDO

Socoro Ramos
National Bookstore
The Challenge to Entrepreneurs
Entrepreneurship and Philippine Education

With the perennial problem on unemployment a

self employment and livelihood opportunity for
every citizen
 Socio Economic Activities from
Entrepreneurship

For years and decades the role of

entrepreneurship in the economy appeared not so
well emphasize in literature
 Socio Economic Activities from
Entrepreneurship
 Promotes self help and unemployment
 Mobilizes capital
 Provides taxes to the economy
 Empower individuals
 Enhance national identity and pride
 Enhance competitive consciousness
 Improves quality of life
 Enhance equitable distribution of income and
wealth
“ENTREPRENEURSHIP is living
few years of your life like most
people won’t so that you can spend
the rest of your life like most
people can’t”
 “ENTREPRENEURSHIP
is about turning what
EXCITES you in life into
capital, so that you can DO
MORE of it and MOVE
FORWARD with it”
 Assignment
Kindly read the following link and make a reflection
paper
 https://primer.com.ph/business/2016/07/21/y
from-riches-to-rags-to-riches-again-the-john-gokongw
ei-jr-story/
 http://michaelyana.blogspot.com/2011/12/john-gokong
wei-jr-success-story.html
 https://www.millionaireacts.com/772/gokongwei-succe
ss-story.html
 https://www.townandcountry.ph/people/money-power/
life-advice-from-john-gokongwei-one-of-the-filipino-b
illionaires-in-forbes-world-list-a00185-20171127-lfrm
Thank you!
Questions?