Module 10 ♥
Compilation
In
NSTP/CWTS
Edralin Guevarra
BT203P
Module 10 – Entrepreneurship
The word is derived from the French word “entreprendre” which simply means to undertake.
Entrepreneurship refers to undertaking a business endeavor. It can also mean “between-taker” or “go-between”.
Hisrich and Peters defined entrepreneurship as 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.
Loyd Shefsky divided the word entrepreneur into three parts:
Entre- means to enter,
Pre- means before;
Neur- means nerve center.
Shapero believed that it is a dynamic process of innovation and new venture creation. The entrepreneurial event focuses on the process of entrepreneurial activity and includes the following factors: * Initiative * Organization * Administration * Relative autonomy * Risk taking
Socio-economic benefit from Entrepreneurship
Promotes self-help and employment – the spirit and culture of self-help, self-reliance, and self sufficiency are being addressed.
Mobilizes capital – it means releasing or mobilizing capital that should fire up the economy.
Provides taxes to the economy – the business becomes the source of tax income by the government through sales tax, real estate, fees, and all other forms of payment to the local and national government.
Empowers individuals – the possibility of wealth accumulation is enhanced and so is the economic standing of an entrepreneur.
Enhances national identity and pride – the country takes pride and honor with what the entrepreneur has achieved.
Enhances competitive consciousness – innovation is a catalyst to the culture of competition in which in the long run breeds healthy competition.
Improves quality of life – refers to the overall effect of creating new and better products.
Enhances equitable
In
NSTP/CWTS
Edralin Guevarra
BT203P
Module 10 – Entrepreneurship
The word is derived from the French word “entreprendre” which simply means to undertake.
Entrepreneurship refers to undertaking a business endeavor. It can also mean “between-taker” or “go-between”.
Hisrich and Peters defined entrepreneurship as 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.
Loyd Shefsky divided the word entrepreneur into three parts:
Entre- means to enter,
Pre- means before;
Neur- means nerve center.
Shapero believed that it is a dynamic process of innovation and new venture creation. The entrepreneurial event focuses on the process of entrepreneurial activity and includes the following factors: * Initiative * Organization * Administration * Relative autonomy * Risk taking
Socio-economic benefit from Entrepreneurship
Promotes self-help and employment – the spirit and culture of self-help, self-reliance, and self sufficiency are being addressed.
Mobilizes capital – it means releasing or mobilizing capital that should fire up the economy.
Provides taxes to the economy – the business becomes the source of tax income by the government through sales tax, real estate, fees, and all other forms of payment to the local and national government.
Empowers individuals – the possibility of wealth accumulation is enhanced and so is the economic standing of an entrepreneur.
Enhances national identity and pride – the country takes pride and honor with what the entrepreneur has achieved.
Enhances competitive consciousness – innovation is a catalyst to the culture of competition in which in the long run breeds healthy competition.
Improves quality of life – refers to the overall effect of creating new and better products.
Enhances equitable