Entrepreneurship PRELIMS PART 1
Hong Kong
With a knowledge based economy, __________ utilizes its human resources to make its economoy best through entrepreneurship. Also known as the "Shopping Haven".
Marco Polo
a merchant from Venice who traveled to many places in Asia to trade. He would enter into a formal agreement with a Capitalist to sell his goods. Bore allxrisks of possible damage or loss of the goods.
Cleric
a person in charge of great architectural work
Small medium enterprises
concrete manifestations of entrepreneurship
United States
one of the friendliest countries for entrepreneurs in the world, home to thousands of successful entrepreneurs
Management
"Someone who identifies opportunities, plans, mobilizes resources, manages, and assumes the risks of a business to have a positive impact on society"
Jean Baptiste Say
A French economist from 18th Century. He described entrepreneur as a person who plays a central coordinating role both in producing and selling goods.
18th Century
A period where entrepreneur was distinguished from the capitalist who simply provides money for the creation of products to be sold.
Singapore
A small country that controls a significant portion of the economy in Asia. Many of their entrepreneurs innovate on existing services for local and international use.
Richard Cantillon
An economist of 17th Century. He viewed the entrepreneur as a risk-taker and a bearer of uncertainty.
Changes in the Environment
An entrepreneur find opportunities from the external changes in the environment. This environment can refer to physical, societal and industry environment.
Businessman
Business owner but not advocating the concepts and principles of entrepreneurship.
Peter Drucker
Came up with a behavioral concept of the Entrepreneur - one who actually searches for change, responds to it, and exploits change as an opportunity.
Government thrust, programs, and policies
Changes in the government's policies and programs can provide new entrepreneurial opportunities.
India
Delhi Huts provided by its government helps entrepreneurs to promote local handicrafts.
Taiwan
Entrepreneur encouraged here through the small and medium enterprise incubation centers for the purpose of nurturing young firms, new products, and technologies.
Psychologist
Entrepreneur is a person who is "typically driven by certain forces such as the need to obtain or attain something, to experiment, to accomplish, or perhaps to escape the authority of others"
The Middle Ages
Entrepreneur is used describe both an actor and a person who managed large production projects. The typical entrepreneur was a cleric.
Canada
Entrepreneurs here are exploring opportunities over the internet. For example, people from Sanikiluag are known for wood-carving and are selling online.
17th Century
Entrepreneurship has become associated with risk. This is the period where an entrepreneur was someone who would enter into formal agreement with the government to provide services.
Economist
From their viewpoint an entrepreneur is someone who brings resources, labor, materials, and other assets into combinations that make their value greater than before; also one who "introduces changes, innovations, and a new order."
Joseph Schumpeter
He said that the idea of Entrepreneurship as a manager of the firm, as an innovator who seeks opportunities and leads "existing means of production into new channels."
China
Home to budding entrepreneurs who manufacture different products that range from toys, gadgets, electronics, and cars. Home-grown.
Entrepreneurs
Individuals who always search for changes, exploit innovations and opportunity. The one who undertakes to organize, manage, and assume the risk of a business.
South Korea
It emerged from the Asian financial crisis better than any other country in the region.
Micro-enterprise
Its asset does not exceed P50,000
Large Enterprise
Its asset is worth P20,000,000 or more.
Small enterprise
Its asset is worth P500,000 to P2,000,000
Cottage enterprise
Its asset ranges from P250,000 to P500,000
Medium Enterprise
Its asset ranges from P5,000,000 to less than P20,000,000.
Malaysia
Its becoming friendlier to entrepreneurs and apparent in the number of businesses, both international and local, which decided to locate in ________. Its current emphasis on tourism as business venture for entrepreneurs is gaining popularity.
Technological Discovery and Advancement
Most people welcome technological discoveries and advancements but cannot identify or determine entrepreneurial opportunities stemming from them. But if you have interest in entrepreneurship, you can see this opportunity.
Changes in the Environment, Technological Discovery and Advancement, Government's thrust, programs, and policies, People's interests, Past experiences
Sources of Entrepreneurial Ideas (5)
Innovation, Opportunity Seeking, Economy Gains, Risk Taking, Use of Resources
The Elements of Entrepreneurship (5)
19th and 20th Centuries
The entrepreneur is neither a risk-bearer or a manager or a capitalist.
Thailand
The government support is evident. Tourism and agricultural exports are major sources of income.
People's interests
The interest, hobbies and preferences of people are great sources of entrepreneurial ideas.
21st Century
The period where "many people regard Entrepreneurship as 'pioneers' on the frontiers of business"
Earliest Period
The period where Marco Polo existed. Merchants bore all the risks.
Past Experiences
The skills/expertise developed by a person in a certain field may be a source of entrepreneurial idea.