1. The document discusses entrepreneurship, explaining it as creating a business to generate profit while taking on risks and rewards. 2. It provides definitions of entrepreneurship from various sources that generally include innovation, opportunity seeking, risk taking, and economic and personal rewards. 3. Examples of entrepreneurship are given in 10 countries, including the US, China, India, and South Korea, showing common themes of government support, new businesses and products, and harnessing opportunities.

2. OBJECTIVES:
1. Explain the concept of entrepreneurship;
2. Discuss entrepreneurship in some other
countries and the Philippines;

4. Entrepreneurship is…
⮚ The act of creating a business or businesses while building
and scaling it to generate a profit. • An important driver of
economic growth and innovation.
⮚ What people do to take their career and dreams into their
hands and lead it in the direction of their own choice.
⮚ About building a life on your own terms. No bosses. No
restricting schedules. And no one holds you back.

5. ENTREPRENEURSHIP
❑It is a foundation and catalyst for economic growth and
innovation across nations.
❑Small and Medium Enterprises (SMEs) are concrete
manifestations of entrepreneurship.
❑According to a United Nations report, in developing
countries, SMEs account for more than 90% of all jobs,
sales and value added; while in developed countries , they
account for only over 50% of these same measures.
❑Entrepreneurial activities thrive in societies with supportive
government policies and which give much importance to
innovativeness and risk-taking to turn new ideas into
breakthrough solutions.

6. The word “entrepreneur” is derived from the
French verb enterprendre, which means “to undertake‟.
This refers to those who “undertake” the risk of new
enterprises. An enterprise is created by an
entrepreneur. The process of creation is called
“entrepreneurship”

7. An entrepreneur is…
⮚ A person who sets up a business with the aim to make a
profit and creates a new business, bearing most of the
risks and enjoying most of the rewards.
⮚ An innovator, a source of new ideas, goods, services,
and business/or procedures.
⮚ Playing a key role in any economy, using the skills and
initiative necessary to anticipate needs and bring good
new ideas to market

8. CONTRIBUTOR DEFINITION
Knight (1921) Having profits from bearing uncertainty and risk.
Schumpeter (1934) Carrying out of new combinations of firm organization
– new products, new services, new sources of raw
material, new methods of production of innovations
and provision of capital
Hoselitz (1952) Uncertainty bearing… coordination of productive
resources.. introduction of innovations and provisions
of capital.
SOME DEFINITIONS OF ENTREPRENEURSHIP:

9. CONTRIBUTOR DEFINITION
Cole (1959) Purposeful activity to initiate and develop a profit-
oriented business.
Mc Cleland (1961) Taking moderate risk.
shapero (1975) A kind of behavior that includes:
(1) Initiative taking,
(2) the organizing and reorganizing of social economic
mechanism to turn resources and situations to
practical account; and
(3) The acceptance of risk failure.

10. CONTRIBUTOR DEFINITION
Casson (1982) Decisions and judgements about the coordination of
scarce resources
Ronstadt (1984) Dynamic process of creating incremental wealth. This
wealth is created by individuals who assume the
major risks in terms of equity, time, and/or career
commitment of providing value for some product or
service. The product or service itself may or may not
be new or unique, but value must somehow be infused
by the entrepreneur by securing and allocating the
necessary skills and resources.
Drucker (1985) Behavior rather than personality trait. Its foundation
lies in concept and theory rather than in intuition.

11. CONTRIBUTOR DEFINITION
Hisrich & Brush (1985) Process of creating something new with value by
devoting the necessary time and effort and receiving
the resulting rewards of monetary and personal
Stevenson & Grousebeck (1989) Pursuit of opportunity without regard to resources
currently controlled.
Hart, Stevenson, and Dial (1995) Pursuit of opportunity without regard to resources
currently controlled, but constrained by the founder’s
previous choices and industry related experience.

12. CONTRIBUTOR DEFINITION
Shane (2003) An activity that involves the discovery, evaluation, and
exploitation of opportunities to introduce new goods
and services, ways of organizing markets, processes,
and raw materials through organizing efforts that
previously had not existed.
kuratko (2009) Dynamic process of vision, change, and creation that
requires an application of energy and passion toward
the creation and implementation of new ideas and
creative solutions.
Dyck and Neubert (2012) Conceiving an opportunity to offer new or improved
goods or services, showing the initiative to pursue
that opportunity, making plans, mobilizing the
resources necessary to convert the opportunity into
reality.

13. Although each of these definitions views entrepreneurship from a slightly
different perspective. They all contain the following common elements:
⚪ Innovation
⚪ Opportunity seeking and
exploitation
⚪ Resource mobilizing
⚪ Encountering risk and
uncertainties
⚪ Economic and personal
rewards

14. It is always inevitable that there are people who will take up the challenge
to become an entrepreneur in spite of the competitive business
environment. Culled from various sources, here are examples of
Entrepreneurship in these 10 countries:
⚫UNITED STATES
⚪ Noted to be one of the friendliest
countries for entrepreneurs in the
world.
⚪ The United States is home to
thousands of successful
entrepreneurs as shown by
companies like Apple, Google,
Starbucks, Walmart, and Walt
Disney.

15. ⚫2. CHINA
⚪ This emerging country is
home to budding
entrepreneurs who
manufacture different
products that range from
toys, gadgets and
electronics, and cars. Most
of the new businesses in
this country are
homegrown because of a
new breed of
entrepreneurs who realize
the potential of their
country.

16. ⚫3. SINGAPORE
⚪ This is literally 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

17. ⚫4. CANADA
⚪ Entrepreneure in
Canada are exploring
opportunities over
the internet. For
example, people from
a region called
Sanikiluag are known
for their wood
carving skills and
entrepreneur are
selling their products
online.

18. ⚫5. INDIA
⚪ Enterpreneurship plays a dominant
role in the country’s economic
landscape with the government
providing the venue called Delhi Huts,
to start-up entrepreneurs which
promotes local handicrafts. The
cottage industries compound is
another venue put up by the Indian
government for the development of
local products manufactured and
retailed by start-up entrepreneurs. In
fact India is one of the countries in
the Asia-Pacific rim with a strong
base of entrepreneur led by the youth
and the women.

19. ⚫6. TAIWAN
⚪ Entrepreneurship is encouraged here
through the small and medium
enterprise incubation centers for the
purpose of nurturing young firms, new
products, and technologies. These
incubators provide space, facilities,
hands-on management assistance
and access to technologies and
financing to clients, helping them to
survive and grow during the start-up
period. There are hundreds of
incubators that have been sponsored
by the Taiwan SME Development Fund.

20. ⚫6. HONGKONG
⚪ With a knowledge-based economy,
Hongkong utilizes its human
resources to make its economy the
best possible through
entrepreneurship. There are many
entrepreneurial endeavors that
flourish from the real estate
enterprises to the retail and food
businesses. Enterpreneurial activities
related to tourism and agricultural
experts have likewise continually
received strong support both from the
government and private sectors.
Hongkong is known as the “shopping
haven.”

21. ⚫8. THAILAND
⚪ The extent of government
support to entrepreneurs is very
evident in, for example in its
international airport in Bangkok,
where a huge section is
subsidized by the Bureau of
Small and Medium Enterprises
for the promotion of the local
products and marketed by
entrepreneurs. Tourism for the
international markets and
agricultural exports are two
major sources of income
generated by Thai
entrepreneurs.

22. ⚫9. MALAYSIA
⚪ This country is becoming
friendlier to entrepreneurs and
this is apparent in the number of
businesses, both international
ang local, which decide to
locate in Malaysia. Its current
emphasis on tourism as a
business venture for
entrepreneurs is gaining
popularity.

23. ⚫10. SOUTH KOREA
⚪ This country emerged from
the Asian financial crisis
better than any other
country in the region. The
enterprising spirit is quiet
obvious in such companies
as Samsung and Kia that
have now become well-
known even outside the
country.