The document traces the evolution of entrepreneurship from ancient times to modern times. It discusses how entrepreneurship has evolved from cavemen inventing the wheel for transportation to internet entrepreneurs using social media platforms. The document also discusses how entrepreneurship can revolutionize societies by addressing social and economic problems through innovation, growth, and social transformation. Entrepreneurs are encouraged to create long term sustainable ventures that include social agendas and encourage employees to be innovative through intrapreneurship.

1. P R O F V E N K A T E S H G A N A P A T H Y
A S S O C I A T E P R O F E S S O R ( M A R K E T I N G )
P R E S I D E N C Y B U S I N E S S S C H O O L ,
B A N G A L O R E .
A P R I L 1 9 T H , 2 0 2 0
Evolution and Revolution of
Entrepreneurship

2. EVOLUTION OF ENTREPRENEURSHIP
 Caveman invented the wheel for transportation
 Mediterranean traders sold commodities desired by
Greeks
 Roman entrepreneurs introduced open air markets
and covered shops – they hawked goods by the side
of the road
 Romans expanded their business to Roman military
camps selling items like food and clothing to soldiers

3. Renaissance Period (14th to 17th century)
 Entrepreneurs were involved in trade
 Exploration began
 Invention of printing press
 Literature and art flourished

4. Colonial times in US
 Newspapers, print shops
 Effective networking platforms for entrepreneurs
 These developments documented by Benjamin
Franklin

5. 1840 – Golden Age
 Gold provided a standard of value – notes could be
issued based on this standard
 Levi Strauss and other entrepreneurs did not lose
heart – they continued their mission
 Baldwin created flexible beam design that
transmitted power to three axles
 Number of banks doubled between 1834 and 1840
 Development of rail road systems (that needed huge
capital)
 Clear rules for entrepreneurs emerged

6. 1880s-1900s
 Tech savvy entrepreneurs
 Businesses based on electricity
 Thomas Edison turned his business into a big
corporation
 Women began selling clothes and started
demonstrating their business skills (1920s)

7. The next entrepreneurial evolution
 This happened in late 80’s and early 90’s
 Bill Gates
 Internet
 Dot com business started evolving
 2006 – Social media entrepreneurs are using the
Internet to reshape it to fit their business; these
entrepreneurs thrive on connectivity and social
media colloquialisms like Like, Tweet, Share.

8. REVOLUTION OF ENTREPRENEURSHIP
 Revolution to fix social and economic problems
 Entrepreneurs improve societies through growth,
innovation and social transformation
 Creative solution to problems
 Entrepreneurs – powerful agents of change (cultural)
that can transform societies
 Incorporation of social goals into entrepreneurs’
strategic thinking to maximize personal and
collective benefits

9. REVOLUTION (CONT’D)
 Entrepreneurs operate closer to people, are in a
perfect position to identify and tackle critical
problems like poverty, lack of access to health and
education.
 Incentives for employees to be innovative
(intrapreneurship)

10. What should entrepreneurs do?
 Create ventures that aim at economic prosperity and
social development
 Long term sustainability of their business enterprise
 Manage a fast growing organization
 Include social agenda as part of strategic plans
 Encourage employees to become entrepreneurs

11. How can entrepreneurs create value?
 Ensuring proper and efficient allocation of scarce
resources
 Mission
 Vision
 Objectives
 Strategies
 Actions

12. To summarize
 Entrepreneurship has evolved over the centuries
 Revolutionary impact – bring about a dramatic
transformation in societies and communities
 Entrepreneurship is a dynamic process of vision,
change and creation.
 Internet has fueled the growth of social
entrepreneurship