Module 1
Module 1
Introduction to
Entrepreneurship
Brainstorming
Activity 1: who’s who
Directions: Below are names of well-established individuals in
the business industry alongside with popular establishment in
the country. Match column A to the corresponding business
they created or founded in column B. Write your answer in a ¼
sheet of yellow paper.
• Entrepreneurship is a mantra in the age of globalized economy. It
is the groundwork and catalyst of economic growth and
revolution across nations.
• Entrepreneurial activities prosper in societies with the support of
the government and which give much importance to
innovativeness and turn new ideas into a breakthrough solution.
• In the Philippines, small and medium enterprises (SMEs) are
concrete indicator and manifestation on how entrepreneurship
progress in our country. They contribute continuously on the
developing status of our national economy.
• Over the years, the definition of entrepreneurship has a lot of
variations. However, this variations point out to innovation,
development, growth, and achievement not only for economy but
also in society as whole.
• Entrepreneurship as defined by Glider is “Making the World
forever new” It originates from the French word
“ENTREPRENDRE” meaning an undertaker. Thus, an
entrepreneur is a person who is willing to undertake risks to create
a new enterprise. Below are some of the definitions of
entrepreneurship from early years to present according to some
economist.
• According to Schumpeter (1934), entrepreneurship is carrying out
new combinations of firm organization- new products, new services,
new sources of raw materials, new methods of production, new
markets, and new forms of organization.
• According to Hart, Stevenson, and Dial (1995), it is a pursuit of
opportunity without regard to resources currently controlled but
constrained by the founders’ previous choices and industry-related
experience.
• According to Kurato (2009), entrepreneurship is a dynamic process
of vision, change, and creation that requires an application of energy
and passion towards the creation and implementation of new ideas
and creative solutions.
• According to Dyck and Neubert (2012), entrepreneurship is
conceiving an opportunity to offer new or improved goods and services,
showing the initiatives to pursue that opportunity, making plans,
mobilizing the resources necessary to convert the opportunity into
reality.