CHAPTER 4

CHARACTERISTICS OF
ENTREPRENEURS
ENTREPRENEUR
DEFINED
Cantillon: bears uncertainty,
buys labor and materials, and
sells products at uncertain
prices.
French concept: adventurer,
undertaker, and projector.
Schumpeter (entrepreneur):
Say (economist): shifting economic
resources
The American Heritage Dictionary:
organizes, operates, and assumes the
risk.
Pure entrepreneurs: scare resources
into successful business.
Geoffrey Meredeth (author of The
Practice of Entrepreneurship): see and
CHARACTERISTI
CS
OF
ENTREPRENEURS
REASONABLE RISK-TAKERS
They shy away from high-risk situations, because
these may not be attainable. However, entrepreneurs
also avoid low risk situations.
HOW ENTREPRENEURS MANAGE DECISION
MAKING
They gather data
Analyze the data
Make their decision

NOTE: They make things happen than let them

HARDWORKING
THOMAS EDISON: Success is 99 percent
perspiration and 1 percent inspiration.
E.g. Chiquito in Tayug, Pangasinan he used to walk
5 to 10 kilometers every day in buying empty
bottles. Now, he is the richest Chinese in Tayug.

Note: When people love their work, it is no

longer a work. It becomes a joy.
In fact, people who are always busy forget their
worries or problems.
INNOVATIVE
Entrepreneurs are creative. They do things in new
and different ways.
Changes are made in response to the people.
Mohandas Gandhi: The progress of a country
depends not on mass production but on jobless
masses.
Innovations have provided us the products and
services of modern civilization.

NOTE: Entrepreneurs therefore should not only

innovate for profit, but also ensure the
LEADERSHIP
Entrepreneurs are leaders by the nature of their
functions.
Selfless Dedication
LEADERSHIP QUALITIES:
Purpose and vision
Courage
Conviction

e.g.: Jose Yulo of Canlubang Estate

NOTE: Leaders
Enthusiasm treat their fellowmen like human
beings. Entrepreneurs promote the welfare of
POSITIVE THINKER
Success begets success.
Dr. Charles Flory: wealth does not always come
to the most intelligent or to the most ambitious
individuals, but to those individuals who think
money.

NOTE: Individuals who always think of failures

and other negative thoughts get exactly what
they think.
DECISION-MAKERS
Entrepreneurs make decisions.
Being creative or innovative, they always make
decisions on how to improve their products, how
to create markets, how to increase consumer
satisfaction or how to maximize profits.
SIX DISTINCT PHASES:
1. Identifying the problem
2. Gathering the data about the problem
3. Analyzing the data
4. Formulating alternative solutions
5. Selecting the best solution
6. Implementing the solution/decision
NOTE: There are many unschooled
entrepreneurs yet they are successful.
They just rely on experiences, ideas.
They are not afraid to make decisions
because of their risk-taking nature and
self-confidence.
T H A N K Y O U!