ENTREPRENEURIAL

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ENTREPRENEURIAL MANAGEMENT
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ENTREPRENEURSHIP
is the process of creating something different
with value by devoting the necessary time and
effort, assuming the accompanying financial,
psychic, and social risks, and receiving the
resulting rewards of monetary and personal
satisfaction.
(Hisrich and Peters)
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The process of identifying opportunities in the
marketplace, marshalling the resources to pursue
those opportunities, and committing actions and
resources necessary to exploit the opportunities
for long-term personal gain. (Sexton and
Bowman-Upton)
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SOCIO-ECONOMIC BENEFITS OF ENTREPRENEURSHIP
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1. Promotes Self-help and Employment

• Self-help, self-reliance and
  self-sufficiency

• Provide your employees or workers a job

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2. Mobilizes capital

• releasing or utilizing capital

3. Provides taxes to the economy

• through real estate tax, income tax, sales tax,
  other fees

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4. Enhance national identity and pride

• quantity and quality of products and services of
  the business give pride not only to the
  entrepreneur but also for our country

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5. Empowers individuals

• entrepreneurs have high income potential as
  compared to employees

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6. Enhance competitive consciousness

• innovation is the catalyst to a consciousness
  and culture of competition which in the long-term
  breeds quality and international competitiveness

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7. Improves quality of life

• discovery of new products and services

8. Discover new sources of materials

• entrepreneurs seek for cheaper, alternative and
  more sources of materials

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9. Enhances equitable distribution of income and
wealth

• wealth is distributed among citizens