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Entrep Week1

The document discusses the evolution of the definition of entrepreneurship from its etymological roots to modern times. It traces how entrepreneurs have been viewed historically from the 13th century onwards, starting as traders who bore risk, to innovators who exploit opportunities in the 19th century, to those who search for and respond to change today. The document also outlines the contributions of entrepreneurship to economic growth and society through job creation, innovation, investment, and more.

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Celeste Batralo
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37 views

Entrep Week1

The document discusses the evolution of the definition of entrepreneurship from its etymological roots to modern times. It traces how entrepreneurs have been viewed historically from the 13th century onwards, starting as traders who bore risk, to innovators who exploit opportunities in the 19th century, to those who search for and respond to change today. The document also outlines the contributions of entrepreneurship to economic growth and society through job creation, innovation, investment, and more.

Uploaded by

Celeste Batralo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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ENTREPRENEURSHIP - SECOND SEMESTER

ETYMOLOGY

Comes from a French word "entreprendre " means "undertake" "entre" came from the latin word meaning
between" "prendre" meaning "to take" . Also sounds close to a sanskrit word anthaprena which means "self
motivation". Entrepreneur " undertake" things which are " self- motivated ".

ENTREPRENEURSHIP " The entrepreneur always searches for change, responds to it and exploits it as an
opportunity."( Peter Drucker ( 2009 )
THEORY AND CONCEPT
• Earliest Period (13th Century) - a person who sells on behalf of the good's owner. xhibited by
Italian,Marco Polo in Venize
(1254-1326 ) . Someone who bore all the Risk of the damage to the goods . Profits were divided between The
capitalist and the tracker as agreed.
• The Middle Ages ( 14th to 16th Century) - an actor and a person in-charge of large production projects
using the resources provided by the government. Someone in-charge of great public architectural works
(building and cathedrals) He/she did not assume any risk.
• 17th Century - Someone who enters into formal agreement with the government to provide the
products and services. Someone viewed as a risk taker and bearer of uncertainty.He/she either reaps
all profits or bear all losses. Proponent is RICHARD CANTILLON, Irish- French economist (1680-1734)
• 18th Century - An entrepreneur viewed as someone who simply provides money for the creation of
products to be sold. Producer and seller of goods. Manages all the activities of the firm.
• 19th Century- An entrepreneur was viewed as an innovator who seeks opportunities, leads existing
means of production into new channels. Proponent : Joseph Schumpeter, Austrian Hungarian
American economist and political scientist (1883-1950)
• 20th Century - “Someone who searches for change, responds to it, and exploits it as an opportunity.
Proponent: Peter Drucker ,business expert (1909-2005).
• 21st Century -An entrepreneur is viewed as “heroes” of free enterprise. Pioneers on the frontiers of
business.

Entrepreneurship Evolution The evolution of the field of entrepreneurship has been formulated by
scholars based on theories that are rooted in economics, psychology, sociology, anthropology and
management.

Entrepreneurship and the Economy Entrepreneurship has an enormous impact on the economy and
in the society. Globally,the level of entrepreneurial activity has contributed significantly to the bational level
of economic growth of many countries.

CONTRIBUTIONS OF ENTREPRENEURSHIP TO THE ECONOMY AND SOCIETY

1. Create employment 2. Develop new markets


3. Introduces innovation 4. Generates new sources of materials
5. Stimulates investment interest in the new business ventures being created.
6.Improves the quality of life. 7. Serves as role models
8. Brings social benefits to the people 9. Utilizes and mobilizes indigenous resources
10. Provides more alternatives for consumers.

Learning Task #1- In 2 - 4 sentences explain (1 )where the word entrepreneurship come from? (2) What
do you think is the role of entrepreneurs in our country?”

Learning Task #2 Write the letter of the correct answer in each number.
_____________1. searches for change
_____________2. leads existing means of production into new channels
_____________3. simply provides money for the creation of products to be sold.
_____________4. enters onto formal agreement with the government to provide the products and services
_____________5. profits were divided between the capitalist and the trader as agreed.

CHOICES: A. 17th Century B. Earliest Period C. 18th Century


D. 19 th Century E. 16th Century F. 20th Century

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