CONCEPTS AND PRINCIPLES

Ed Benavidez
SLU EISSIF
Websters dictionary
one who organizes, manages and assumes
the risk of a business or Enterprise.
A. H.Cole
Entrepreneurship is a purposeful activity of
an individual or a group of associated
individuals, undertaken to initiate, maintain
or organize profit oriented business unit for
the production and distribution of economic
goods and service.
 Perceive opportunities for profitable
investment
Initiative in establishing a business
Risks bearing
Co-ordination of different factors of
production
Introduction of innvotions
Provision of capital
Enterprising
Behavior
African article
 More foreign investment?
p s
More government It hel
programs?
We NEED to produce
more genuine, local
AGRIPRENEURS
 Entrepreneurship is a key driver of
our economy

The farmer is an entrepreneur who

promises to pay the landowner, for his
farm or land, a fixed sum of money without
assurance for the profit he will derive from
his enterprise. (Richard Cantillon)
 cre
atin
gn s tr ies
ew indu
ma
rke new
ts

new technology
new institutional
forms
net in
c
prod reases in
jobs uctiv real
ity
new
 in turn lead to equitable distribution of
income which culminates in higher
standards of living for the populace. In this
way, the resources available to the
government will likewise increase and
hence enable it to offer social services like
hospitals and schools, develop the
infrastructure and keep law and order.
To SHIFT

To
Entrepreneuria
l Mentality
Definition
Joseph Schumpeter
Entrepreneur is an innovator
who brings economic
development through new
combinations of factors of
production.
 Economist, Marshall in 1920

" One who combines through

vigorous activity the factors of
production, labor and capital
so as to produce an increased
output of goods and services
thereby increasing the total
wealth or material welfare of
society."
*According to William Bygrave

"an entrepreneur is
someone who perceives an
opportunity and creates an
organization to pursue it."
There is no science on how to have a
successful business, but there is hard
work. There are so many other variables
but this forms the foundation, along with
frugality and the ability to choose
partners that are trustworthy.
(Francis Kong)