This document discusses entrepreneurship and the role of entrepreneurs. It defines an entrepreneur as someone who converts new ideas or inventions into successful innovations, creating new products and business models through "creative destruction". Entrepreneurship can range in scale from solo projects to large ventures seeking funding. The understanding of entrepreneurship stems from the work of economist Joseph Schumpeter. Entrepreneurs have vision, ideas, and passion to change their visions into reality through strategies and persistence. They mobilize resources to develop new markets, materials, technologies, and industries.

1. B u s i n e s s
COMPUTER
Matters

2. practice of starting new organizations, particularly new businesses generally
in response to identified opportunities. Entrepreneurship is often a difficult
undertaking, as a vast majority of new businesses fail. Entrepreneurial
activities are substantially different depending on the type of organization that
is being started. Entrepreneurship ranges in scale from solo projects (even
involving the entrepreneur only part-time) to major undertakings creating
many job opportunities. Many "high-profile" entrepreneurial ventures seek
venture capital or angel funding in order to raise capital to build the business.
Many kinds of organizations now exist to support would-be
entrepreneurs, including specialized government agencies, business
incubators, science parks, and some NGOs.

3. The understanding of entrepreneurship
owes much to the work of economist
Joseph Schumpeter and the Austrian
School of economics. In Schumpeter
(1950), an entrepreneur is a person who is
willing and able to convert a new idea
or invention into a successful innovation.
Entrepreneurship forces "creative
destruction" across markets and
industries, simultaneously creating new
products and business models.

4. Entrepreneurs
have many of Bill Gates
the same
character Microsoft,
traits as Co.
leaders.
Similarly to
the early Henry SY
great man
theories of SM Malls
leadership;
however

5. •The entrepreneur has an enthusiastic
vision, the driving force of an enterprise.
•The entrepreneur's vision is usually
supported by an interlocked collection of
specific ideas not available to the
marketplace.
•The overall blueprint to realize the vision
is clear, however details may be
incomplete, flexible, and evolving.
•The entrepreneur promotes the vision with
enthusiastic passion.
•With persistence and determination, the
entrepreneur develops strategies to change
the vision into reality.
•The entrepreneur takes the initial
responsibility to cause a vision to become a
success.

6. 1. Develop new
markets.
2. Discover new
sources of
materials.
3. Mobilize capital
resources
4.Introduce new
technologies, ne
w industries and
new products.

7. 1. Self-employment
2. Employment for others
3. Development of more industries
especially in the rural areas
4. Encouragement of the processing of
local materials into finished goods for
domestic consumption as well as for
export
5. Income generation
6. Healthy competition thus encourages
higher quality products
7. More goods and service available
8. Development of market
9. Promotion of the use of modern
technology in small-scale
manufacturing to enhance higher
productivity
10. Encouragement of more researches/
studies and development of modern
machines and equipment for domestic
consumption
11. Development of entrepreneurial
qualities and attitudes among potential
entrepreneurs to bring about
significancant changes in the rural areas