This document provides an overview of the history and evolution of entrepreneurship. It discusses: 1) The etymology of the word "entrepreneurship" originating from French and Latin terms meaning "to undertake" or "between taking." 2) Key thinkers and their perspectives on entrepreneurship over different historical periods from the 13th to 21st centuries, including Joseph Schumpeter viewing entrepreneurs as innovators and Peter Drucker defining them as those who "search for change, respond to it, and exploit it as an opportunity." 3) How entrepreneurship has evolved from a field based on economics, psychology, sociology and other theories to its modern definition as the activity of always searching for, responding

1. For you, what does this quote mean?

2. Entrepreneurship
Relevance
Nov. 13,2018

3. Objectives
1. Demonstrate understanding on the origin and history of
entrepreneurship
2. Explore the role and contribution of entrepreneurs
3. Express one’s opinion on the need to study
entrepreneurship as a subject

4. Etymology
Comes from a French word "entreprendre" means "to undertake,"
"entre" came from the Latin word meaning "between"
"prendre" meaning "to take."
also sounds close to a sanskrit word anthaprerna which means “self
motivation.”
Entrepreneur “undertake” things which are “self-motivated”.
Dave Lerner

5. Entrepreneurship
“The entrepreneur always searches
for change, responds to it and
exploits it as an opportunity.”
Peter Drucker (2009)

7. Why study Entrepreneurship?

8. Theory and Concept
Earliest Period (13th Century)
 a person who sells on behalf of the good’s
owner. Exhibited 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 trader as agreed.

9. Theory and Concept
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
The Middle Ages
(14th to 16th Century)

10. Theory and Concept
 Someone who enters into formal agreement with the
govt. to provide the products and services.
 Someone viewed as a risk taker & bearer of
uncertainty
 He/she either reaps all profits or bear all losses.
Proponent: RICHARD CANTILLON, Irish-French economist
(1680-1734)
17th Century

11. Theory and Concept
 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
Proponent: Jean-Baptiste Say, French economist
(1767-1832)
18th Century

12. Theory and Concept
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)

13. Theory and Concept
20th Century
“Someone who searches for change, responds to
it, and exploits it as an opportunity.”
Proponent: PETER DRUCKER, business expert
(1909-2005)

15. Theory and Concept
21st Century
 An entrepreneur is viewed as
“heroes” of free enterprise (Kuratko &
Hodgetts, 2004)
 Pioneers on the frontiers of business
5 Most influential innovators
Elon Musk – space travel
Steve Jobs – Animation &
communication
Mark Zuckerberg – Social Media
Sheryl Sandberg – Online Sales &
Ads
Sheila Lirio Marcelo – Online
Family Care Services

16. How did “entrepreneurship”
evolved?

17. 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.

20. What then is the role of
entrepreneurs in a country?

21. 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 national
level of economic growth of many
countries.

22. 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

23. CONTRIBUTIONS OF ENTREPRENEURSHIP
TO THE ECONOMY AND SOCIETY
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

24. How do we define Entrepreneurship in
its holistic sense?
The activity of always searching for change,
responding to it and exploiting that change into an
opportunity, for personal, economic & ecological
gains.”

25. Post Lesson Activity
In 1 half sheet of paper, answer the ff. questions:
1. Where did the word entrepreneurship come from?
2. Describe the meaning of Entrepreneurship in the 21st
Century
3. Name any one person that you know and explain why
he/she is an entrepreneur in his/her own way.
4. What is the relevance of studying ENTRENEURSHIP?