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Salient Features
of Entrepreneurship Opening and
Managing the Wealth-
Self-owned creating
Enterprise Venture
Provides
Valuable
Goods and
Services
1. Entrepreneurship produces 2. Entrepreneurship amplifies 3. Entrepreneurship introduces
more jobs that equate to an economic activities of different new and innovative products
increase in national income. sectors of the society. and services.
Entre = between
UNDERTAKE
Prendre = to take
An ENTREPRENEUR is a unique individual who has the innate ability and extraordinary
dedication to establish and manage a business, acknowledging all the risks and reaping
its rewards.
Theory - generalization
- set of facts or phenomena
- not an absolute truth
Learn by heart the theories that you deem appropriate and applicable
in your perspective business and will support your
desire to become a successful entrepreneur.
Innovation Theory
• Joseph Schumpeter
-an Austrian economist and political scientist who wrote the book
“ The Theory of Economic Development”
1. New product
2. New production method
3. New market
4. New supplier
5. New industry structure
Will you consider the innovation theory as one of your guiding posts in your journey
as an entrepreneur?
Keynesian Theory
• Maynard Keynes – a British economist who wrote the book “The General
Theory of Employment” and “Interest and Money”.
• Frank Hyneman Knight is an American economist who introduced the book “Risk,
Uncertainty and Profit”.
1. Proactive 6. Networkers
5. Sociable
Core Traits in Managing and Running the Business:
1. Leaders
2. Communicators
3. Specialists
4. Problem Solvers
1. Technopreneur is an entrepreneur who puts technology at the core of his or her business model.
2. Social Entrepreneurship is one who takes advantage of the country’s social problems and
turn them to profitable institutions with the intention of helping the disadvantaged community
rather than making a profit.
4. Extrapreneur is an entrepreneur who hops from one company to another to act as the
innovation champion, providing creative and efficient solutions.