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entraprende
french word for entrepreneur which means undertake
entrepreneurship 1
has values or purpose
small business
adapting entrepreneurship guidelines “values”
ordinary small business
no intentions as values
entrepreneur
person who strongly advocates and correctly practices the concepts and principles of entrepreneurship in operating and managing the self-owned entrepreneurial venture
entrepreneurship 2
the art is observing correct practcie of managing and operating a self-owned, wealth-creating business enterprise by providing goods and services that are valuable to the customer
art of correct practices
continuosly evolving
wealth-creating venture
the reseult of your income
providing values to customers
already proving to customers
operning and managing self-owned business
can gain ideas and knowledge
risk taking venture
is willing to face challenges that will be faced by the business in the future
innovation theory
primary factor affecting development of the economy
joseph schumpeter
he developed innovation theory
keynesian theory
economic growth, especially during depression to the government
john maynard keynes
he developed keynesian theory
alfred marshall theory
organization plays the most significant role among the different factors of production
alfred marshall
he developed alfred marshall theory
risk and uncertainty bearing theory
an entrepreneur faces the risk of uncertainty in the process of connecting the supplier and buyer
frank hyeman knight
he developed risk uncertainty bearing theory
sources of business funds - entrepreneur
wealth-creating venture, he/she explores ways to generate the much needed funds from both internal and external resouces
sources of business funds - ordinary small business
limit the funding and loans from external resources can be a risky undertaking for him/her
motive in opening a business - entrepreneur
based on entrepreneurial concepts and looks out for new and fresh ideas, marked by creativity and innovation.
motive in opening business - ordinary small business
primary goal pf making it his/her source of livelihood, focuses on gaining profit.
perception of risk in the business - entrepreneur
faces the buriness risk squarely, prepares the business for it
perception of risk in the business - ordinary small business
risk is a deterrent to the operation of the business and must be avoided
reactions to changes in the environment - entrepreneur
reacts positively to the changes in the environment and bring new ideas
reactions to changes in the environment - ordinary small business
wait for the changes to happen and remains passive and static to changes in the environment
view on competition - entrepreneur
competition is a sign of a healthy economic environment and sees it as healthy and a factor that will make them creative
view on competition - ordinary small business
unhealthy element and uncomfortable working in a competitive environment and discourages competition
vision for development and growth - entrepreneur
outlines venture of short term, medium term, long term plans of action and aligns the daily business activities
vision for development - ordinary small business
relies upon chance or luck and not so much concerned about its development and growth as long as he/she is satisfied with its earnings
horizon of business operation - entrepreneur
thinks globally but acts locally and concerned with the major economic events
horizon of buisness operation - ordinary small business
centered only on the local environment and does not intedn to participate in the global environment
changes in the environment
entrepreneurial ideas arise from the changes that happen in the external environment with entrepreneurial implications.
external environment of a business venture
you must keenly observe and be vigilant to the reactions of the people to the changes in the external environment.
technological discovery and advancement
most people welcoe technological discoveries and advancements but cannot identify or determine entrepreneurial opportunities stemming from them.
government thrust, programs and policies
the prioities, projects, programs, and policies of the government are also good sources of entrepreneurial ideas.
peoples interests
the interets, hobbies, and preferences of people are a rich source of entrepreneurial ideas
past experience
the expertise and skills developed by a person who has worked in a paricular field may lead to the opening of a related business enterprise
achievement cluster
the entrepreneur desires to be an achiever in the field of entrepreneurship, opportunity seeker, commited, persistent, a risk taker, and efficient and quality oriented
planning cluster
supports the character traits in the achievement cluster, goal setter, information seeker, systematic in planning and monitoring
power cluster
reflects the degree of the interpersonal relationships maintained by successful entrepreneur in the community, persuasive and self confident
