Entrepreneurship as defined by Glider is "Making the World forever New" and for Schumpeter

"It is destroying the old order and creating new ones".

It originates from the French word "ENTREPRENDRE" meaning an undertaker. Thus, an

entrepreneur is a person who is willing to undertake risks in order to create a new enterprise.
But what exactly are the different careers that an entrepreneur can dwell into

Entrepreneurship Defined
Here are what the five experts in the subject entrepreneurship

● Cantillon defines enterprise as someone who takes risks to invest for labor, materials,
and sells products at uncertain prices.

● Schumpeter views entrepreneur as someone who always makes things/products in a

new way may it be in terms of techniques, delivery, market or the product itself.

● Peter Drucker says that an entrepreneur always searches for change, responds to it and
exploits it as an opportunity.

● Geoffrey Meredith author of the Practice of Entrepreneurship) "Entrepreneurs can see,

evaluate, take advantage of every opportunity".

● Adam Smith says that an entrepreneur is an investor or a capitalist that manages both
labor and consumer.

The Need for an Entrepreneur

Why are entrepreneurs essential in today's world especially when a pandemic occurs like the
COVID-19?

1. This could be a solution to unemployment of those who were laid off because of the
economic crisis. Don't you know that 90% of the Worlds Jobs are created by entrepreneurs.

2. Entrepreneurs are problems solvers. Not only for giving jobs as mentioned earlier. This could
also be in giving cheaper means or options of getting tested for COVld-19.

Whereas the first test kit developed which used by our country is expensive (PCR Test)
compared to the locally made Rapid test kit by the University of the Philippines.

3. In addition, entrepreneurs are source of new product and innovations.

4. Lastly, it's the entrepreneurs, not the Central Bank that keeps the economy moving.

Characteristics of an Entrepreneur
The following list describes some common characteristics of an entrepreneur.

1. Works Hard (Statements 1 & 8). Self-employment requires a great deal of time and effort.
The entrepreneur must perform a wide variety of time-consuming tasks. 77% of all
entrepreneur's report are working 50 hours or more per week, and 54% say that they are also
working more than 60 hours per week. Such commitment requires you to have a high energy
level.

2. Wants Financial Success (Statement 6). The primary reason that most entrepreneurs gone
into business is to achieve financial success. If you want to be an entrepreneur, you need to
establish a reasonable financial goal that you really want to achieve. This goal will help you
measure how well you are doing in fulfilling your personal needs through an entrepreneurial
career.

3. Has Family Support (Statement 2). A successful entrepreneur needs family support. If you
are married, your spouse must believe in your business because it will require that both of you
sacrifice, time and money. The stress may create disruptions in family relationships. If you have
children, they will need encouragement in
understanding your need to spend so much time away from the family. The more positive
support you receive from your family, the more you can concentrate on making the business a
success.

4. Is Energetic (Statements 1 & 8). Self-employment requires long working hours. Most of the
time, you won't be able to control the number of hours required to fulfill all the necessary tasks.
The entrepreneur must have a high energy level to respond to the job's demands.

5. Has an Internal "Locus of Control", (Statement 10).

Successful entrepreneurs have an internal locus of control or inner sense of responsibility for
the outcome of a venture. To be an entrepreneur, you should have a strong sense of being a
"victor" who is responsible for your actions. If, however, you often consider yourself a "victim"
and blame other people, bad luck, or difficult
circumstances for your failures, entrepreneurship might not be the right career move for you.

6. Takes Risks (Statement 3). Entrepreneurs are risk takers. They risk their careers, time and
money in order to succeed in their businesses. To be successful in self- employment, you
should feel comfortable taking reasonable risks.

7. Sacrifices Employment Benefits (Statement 4). One of the major realities of self-
employment is that you won't receive a regular paycheck. You pay for your own fringe benefits.
A nice office, secretarial assistance, equipment and other features of employment are no longer
available unless you provide them for yourself.
8. Has a Need to Achieve (Statements 7 & 11). Entrepreneurs have a strong need for
achievement. They strive to excel and accomplish objectives that are quite high. You should be
willing to set high goals for yourself and enjoy striving in achieving those goals.

9. Has Business Experience (Statement 12). An entrepreneur should have an extensive

business experience to be successful. General management experience is beneficial because l
entrepreneurs are able to handle or manage their business well.

10. Formal training and education in management also are helpful to its Independence
(Statements 5 & 9). Entrepreneurs like to be independent and in control of situations. Many
people who become self- employed consider the opportunity to be their own boss as one of the
major benefits of self- employment. Although being independent may not be a major concern for
you, it is certainly an aspect of self-employment that you need to feel comfortable with. If you
cannot afford to hire other employees when you begin your business, you may at first be lonely
as a self-employed person.

11. Has a Self-employed Parent as a Role Model

(Statement 14). Research has shown that entrepreneurs are more likely to have a parent who is
self-employed. A parent's inspiration and knowledge about operating a business can contribute
to entrepreneur's success.

12. Has Self-confidence (Statements 10,15, and 18).

An important characteristic of entrepreneurs is self-confidence. This factor is particularly
important when you face major challenges and difficulties with your business.
You need to believe in yourself. Your confidence will help you overcome the problems that
inevitably affects your career .

13. Has Integrity (Statement 16). People often cite honesty and integrity as characteristics of
entrepreneurs. Customers do not want to deal with business owners who are dishonest and
unethical. You should feel positive about your ethical treatment of people and be committed

14. Has Determination (Statement 17). One of the most

important characteristics of entrepreneurs is determination. This trait is closely related to self-
confidence. The more you believe in yourself, the more likely you are to continue to struggle for
success when faced with tremendous obstacles. You need determination in order to overcome
the problems that beset every new venture.

15. Adapts to Change (Statement 13 and 19). A new business changes rapidly, so an
entrepreneur must be able to adapt to change. Two primary skills are required for adaptation to
change: the capacity to solve problems, and the ability to make quick decisions. Another skill is
the ability to learn from your mistakes.

16. Has a Good Network of Professionals (Statement 20). An entrepreneur has a good network
of professionals. This network provides access to those who can be consulted for advice,
information, and referrals. You should have an extensive network of professionals to whom you
can turn for assistance.

Renowned Filipino Entrepreneurs

Perhaps some of you are familiar with the famous entrepreneurs in the world. To name a few,
we have: Bill Gates, Oprah Winfrey, Walt Disney, J.K. Rowling, Steve Jobs, John D. Rockefeller
and many more. However, do you also have an idea of the renowned entrepreneurs in the
Philippines?

As it's always said by the Chinese philosopher Lao

Tzu, "The journey of a thousand miles begins with a single footstep". True as it is, the story of
success of our Filipino entrepreneurs which will be discussed here did not happen overnight.

They have undergone many hindrances along their way but by believing in their vision, they
constantly strived to be better thus making them known in their respective field of business.

1. Socorro Ramos (National Book Store ne owner or National bookstore who started
business at the age of 19, during the Japanese Regime with a starting capital of
P200.00. She believes that the success of a business thrives on "hands-on approach"

2. Tony Tan Caktiong (Jollibee) Our "Bida ang Saya" man operated on ice cream parlor
before putting up JOLLIBEE, a popular fast-food chain located nationwide. It really
captivated the heart of the Filipinos with its hamburgers, fried chicken, spaghetti and
others.

3. Edgar Sia (Mang Inasal) A college drop-out who started with a photo-developing
business then ventured to a barbeque fast food restaurant "Mang Inasal". Mang Inasal is
actually an Ilonggo for Mr. Barbeque.

4. Cresida Tueres (Greenwich Pizza) At first, Tueres started cooking pizza out of passion.
When her friends liked her product, she started to make it big. That is why when
Greenwich hit the market, Jollibee decided to acquire 80% of its shareholding

5. Milagros, Clarita and Doris Lulin (Goldilocks) This famous bakeshop started only with
two cake displays and ten employees until 2015, GOLDILOCKS has increase to 400
stores across the country, with other branches in the USA, Canada and Southeast Asia.

Proper Career Titles in 21st Century Enterprise

1. CHIEF EXECUTIVE OFFICER (CEO) - is the highest-ranking executive in a company, whose

primary responsibilities include making major corporate decisions, managing the overall
operations and resources of a company, acting as the main point of communication between the
board of directors (the board) and corporate operations and being the public face of the
company.

2. CHIEF OPERATING OFFICER (COO) - is a senior executive tasked with overseeing the day-
to-day administrative and operational functions of a business.
The COO typically reports directly to the chief executive officer (CEO) and is considered to be
second in the chain of command. In some corporations, the COO is known by other terms,
such as "executive vice president of operations," "chief operations officer," or "operations
director."

3. ADVERTISING SALES AGENT - sells advertising space to businesses and individuals. They
will contact potential clients, make sales presentations, maintain client accounts, and often work
under pressure to meet sales quotas.

4. PROJECT MANAGER is the person responsible for leading a project from its inception to
execution. This includes planning, execution and managing the people, resources and scope of
the project.

5. OPERATIONS MANAGER is key part of a management team and oversees high-level HR

duties, such as attracting talent and setting training standards and hiring procedures. They also
analyze and improve organizational processes, and work to improve quality, productivity and
efficiency.

6. MARKETING STRATEGIST analyzes data to determine the best way to allocate resources
to grow revenue and profits.