Entrepreneur
of the business, but rather its sole
- Definitions largely influenced by
personal beliefs, prevailing economic
status. Relative to different cultures
- He as a person who strongly
advocates and correctly practices the
concepts and principles of
entrepreneurship in operating and
managing the self-owned business
venture.
Etymology: Entreprendre
- French meaning ‘to undertake’
- Connotes the start of a business
Entrepreneurship
- The art of observing correct practices
in managing and operating a self
-owned wealth-creating business
enterprise by providing goods and
services that are valuable to
customers
- It is an art of correct practices
- Dynamic, changes to the needs of
consumers/ target market.
- Art: area of creativity
- Wealth-creating venture
- Wealth is created when the value of
the business has increased
abundantly and the life of its owner
has improved considerably
- Provides valuable good and services
- Define value from the perspective of
buyers
- Opening and managing the self-
owned enterprise
- A business is considered self-owned
when the person managing its daily
activities is also its owner
- Entrepreneurship is not about the size
ownership
- If it became big, it can be labelled as
Corporate Entrepreneurship, and he is
still very much involved in decisions
Risk taking venture
- Risk is inherent in business.
- An entrepreneur takes a calculated
risk, not just any type
No definition bec
- Different views by scholars
- Economic standing at that time
True 7. The distinguishing mark that
differentiates an entrepreneur from an owner
of an ordinary small business is the
commitment of the entrepreneur from an
owner of an ordinary small business is the
commitment of the entrepreneur to
entrepreneurial concepts and principles.
This is true because most of the owners of
ordinary small business does not consider
entrepreneurship as an advocacy, they may
not have even heard of the term
entrepreneurship and merely intend their
business to serve as the source of their
livelihood.
True 8. In layman’s term an entrepreneur is a
person who opens his/her own business,
assumes responsibility over its operation and
management, and assumes the risk of the
business.
An entrepreneur is an individual who creates
a new business, bearing most of the risks and
enjoying most of the rewards.
True 9. Most owners of ordinary small
businesses open their businesses because of
the profitability aspect of the operations.
Most owners of ordinary small businesses DISCUSSION ENTREPRENUER VS BUSINESS MAN
open their businesses since it is the easiest
Entrepreneur
and most practical way to augment their
income and to lessen their financial problems. - Passion
- Art
False 10. All business people are
- Wealth taking venture
entrepreneurs.
If they wanted to just get rich they would’ve
Not all business owners are entrepreneurs
been a business man but for them to take a
because business owners is a person who runs
risk on something they wanted to do
the business, undertaking an unoriginal
business idea while an entrepreneur is
someone who first initiates a product or
Business man- risk is an obstacle, voluntary
business idea.
Entrepreneur- involuntary, don’t go around it
they overcome it
II.

A. Discuss the need to have a correct

Change of environment
understanding of the concept of
entrepreneurship. What advantages Entrep- adapt
will it provide to a person who is
interesed in becoming a successful Business man- stay the same bec strong
entrepreneur? It is important to have foundation
a correct understanding of the
concept of entrepreneurship because
acquiring sufficient knowledge about
entrepreneurship equips people with
the necessary tools in handling and
maximizing entrepreneurial
opportunities.

https://www.coursehero.com/file/p1m73ap/
An-entrepreneur-can-be-a-juridical-person-
True-7-The-distinguishing-mark-that/

Theories:

Micheal contradicting himself