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Entrepreneur
- was derived from the French word
“entreprendre” which means to
undertake. This refers to those who
“undertake” the risk of new enterprises.
- On the other hand the term
entrepreneurship is comes from the word
entrepreneur.
- An enterprise is created by an
entrepreneur and process of its creation
is called entrepreneurship.
Entrepreneur
according to American Heritage Desk
Dictionary entrepreneur as a person who
organizes, operates, and assume the risk
of business venture.
Ernest L. Cu
-he transformed a simple data entry service
company into becoming one of the country’s
largest outsourcing service providers. This sources
of this company are mostly contracts for
generating projects, which involve customer
service relationships and IT services. The CRM
(Customer Relationship Management) services
became quite successful, which spurred the growth
of telemarketing services
2. Assumption of Risk
-an entrepreneur by definition, is a risk
taker and not a risk shirker. He/she is always
prepared for assuming losses that may arise on
account of new ideas and projects undertaken
by him/her.
3. Research
-an entrepreneur is a practical dreamer
and does not a lot of ground-work before
taking a leap in his/her venture.
Ex. Gregorio G. Sanchez-LactoPAFI Probiotic
Bacteria
4. Development of Management Skills
- the work of an entrepreneur involves
the use of managerial skills which he/she
develops while planning, organizing, staffing,
directing, controlling and coordinating the
activities of business.
DIOSDADO BANATAO
-saw the opportunity of setting-up his
own company by designing chip sets. In no
time, he was able to raise $500,000 as seed
capital to put up Monstroni in 1985. His
company’s determination paid off after they
successfully develop the first system logic chip
set that lowered the cost of building personal
computers that were more powerful. He then
went on to build another company called Chips
and Technologies, which created another chips
set enhancing the so-called graphic adapter.
6. Catalyst of economic development
- an entrepreneur plays an important role
in accelerating the pace of economic
development of a country by discovering new
uses of available resources and maximizing
their utilization.
1. Innovative Entrepreneurs
-these entrepreneur have the ability to
think newer, better and more economical ideas
of business organization and management.
They are the business leaders and contributors
to the economic development of a country.