Entrepreneur comes from the french word

comes from the French word entreprende which means to undertake.

as one who organizes, manages, and assume the risks of a business. - Merriam Webster Dictionary

placed an emphasis on innovation, and the creation of new products, new production methods, new markets, and new forms of organization. - James Schumpeter

is a person who shifts economic resources out of an area of lower productivity into an area of higher productivity and greater yield. - J.B Says

2 types of entrepreneur

Profits they make are limited. Their contributions are minimal and attract few competitors and imitators. They are short in funds and inadequate in skills. They cannot undertake projects that involve huge capital, sophisticated technology and extensive risks.

Willing to absorb huge risks of using enormous amounts of capital in their business ventures. They contributed much to the economic progress of the developed countries.

5 Entrepreneurial process

The recognition of a business idea or the detection of opportunities that could make money for the entrepreneur.

gives more details on how the general business idea can be realized. It suggests the preparation of a business plan.

describes the process of identifying, sourcing, and financing human, nonhuman, and other resources needed for the conduct of business.

the process of carrying out the business plan. It covers a number of activities, including the management of human, physical, technological, and financial resources of the business.

pertains to strategies related to the expansion of the business firm.

9 characteristics of entrepreneurs

are planned actions formulated in the mind of individuals which area geared toward the objective of establishing a business venture from potential business opportunities.

5 internal factors

2 external factors

(government, financial institutions, and training institutions.

(regulatory structure, protection of property rights, and competitive environment)

Filipino entrepreneurs are _