Podcast
Questions and Answers
The term 'entrepreneurship' is derived from which language?
The term 'entrepreneurship' is derived from which language?
- Italian
- German
- French (correct)
- Spanish
What does 'entreprendre' mean?
What does 'entreprendre' mean?
- To create
- To manage
- To undertake (correct)
- To sell
In which year did the word 'entreprendre' first appear in the French dictionary?
In which year did the word 'entreprendre' first appear in the French dictionary?
- 1823
- 1723 (correct)
- 1923
- 1623
Before the Agricultural Revolution, how did people primarily obtain food?
Before the Agricultural Revolution, how did people primarily obtain food?
During the Agricultural Revolution, what key skill did people develop that significantly contributed to early entrepreneurship?
During the Agricultural Revolution, what key skill did people develop that significantly contributed to early entrepreneurship?
What term is used to describe early entrepreneurs during the Agricultural Revolution?
What term is used to describe early entrepreneurs during the Agricultural Revolution?
Approximately when was the first recorded human trade in New Guinea?
Approximately when was the first recorded human trade in New Guinea?
What material, known as a volcanic glass, was commonly traded in early societies for use in hunting tools?
What material, known as a volcanic glass, was commonly traded in early societies for use in hunting tools?
What characterized the Industrial Age (1760-1840) that greatly influenced entrepreneurship?
What characterized the Industrial Age (1760-1840) that greatly influenced entrepreneurship?
Who first used the term 'entrepreneur' to describe an economic agent who combines factors of production to create wealth?
Who first used the term 'entrepreneur' to describe an economic agent who combines factors of production to create wealth?
Which economist distinguished entrepreneurs from employees by emphasizing that entrepreneurs bear uncertainty by investing and hoping for a return?
Which economist distinguished entrepreneurs from employees by emphasizing that entrepreneurs bear uncertainty by investing and hoping for a return?
Which of the following best describes Jean-Baptiste Say's view of entrepreneurs?
Which of the following best describes Jean-Baptiste Say's view of entrepreneurs?
How did Richard Cantillon differentiate entrepreneurs from employees?
How did Richard Cantillon differentiate entrepreneurs from employees?
In which year did the Oxford English Dictionary formally adopt 'entreprendre' as 'entrepreneur'?
In which year did the Oxford English Dictionary formally adopt 'entreprendre' as 'entrepreneur'?
According to Webster's Third New International Dictionary (1961), what is a primary role of an entrepreneur?
According to Webster's Third New International Dictionary (1961), what is a primary role of an entrepreneur?
Which of the following best describes the contemporary understanding of entrepreneurship?
Which of the following best describes the contemporary understanding of entrepreneurship?
What fundamental activity is commonly associated with an entrepreneur?
What fundamental activity is commonly associated with an entrepreneur?
Which characteristic is most indicative of an entrepreneur's approach to business?
Which characteristic is most indicative of an entrepreneur's approach to business?
The Futuremakers case study is an example of:
The Futuremakers case study is an example of:
The ability to analyze the history and fundamentals of entrepreneurship is relevant for:
The ability to analyze the history and fundamentals of entrepreneurship is relevant for:
Differentiating core concepts of entrepreneurship helps:
Differentiating core concepts of entrepreneurship helps:
How can studying successful and unsuccessful entrepreneurs impact one's approach?
How can studying successful and unsuccessful entrepreneurs impact one's approach?
Which is not a trait of an entrepreneur?
Which is not a trait of an entrepreneur?
How has the definition of entrepreneurship evolved?
How has the definition of entrepreneurship evolved?
Why is understanding the history of entrepreneurship beneficial?
Why is understanding the history of entrepreneurship beneficial?
What key change marked the Agricultural Revolution's impact on entrepreneurship?
What key change marked the Agricultural Revolution's impact on entrepreneurship?
How has the definition of entrepreneurship changed over time?
How has the definition of entrepreneurship changed over time?
To what extent do opportunities and obstacles shape the path of an entrepreneur?
To what extent do opportunities and obstacles shape the path of an entrepreneur?
What is the Oxford definition of entrepreneurship?
What is the Oxford definition of entrepreneurship?
What does entrepreneurship mean today?
What does entrepreneurship mean today?
What helps one define the core components of entrepreneurs?
What helps one define the core components of entrepreneurs?
Why is it important to hear about the success and failure stories of entrepreneurs?
Why is it important to hear about the success and failure stories of entrepreneurs?
During early times, what did they trade to get obsidian?
During early times, what did they trade to get obsidian?
Besides workers, what else was available during the industrial age?
Besides workers, what else was available during the industrial age?
One characteristic of an entrepreneur is being innovative, what does this mean?
One characteristic of an entrepreneur is being innovative, what does this mean?
Jean-Baptiste Say viewed that entrepreneurs could:
Jean-Baptiste Say viewed that entrepreneurs could:
If presented a challenge, what action would best suit an entrepreneur?
If presented a challenge, what action would best suit an entrepreneur?
What trait is an entrepreneur not known for?
What trait is an entrepreneur not known for?
What makes the Industrial Age a massive help to upcoming entrepreneurs?
What makes the Industrial Age a massive help to upcoming entrepreneurs?
Flashcards
Entrepreneurship
Entrepreneurship
The practice of undertaking new business ventures, often involving innovation, risk, and the pursuit of opportunities.
Entrepreneur
Entrepreneur
A person organizing, managing, and assuming the risks of a business or enterprise.
"Entreprendre"
"Entreprendre"
The French origin of entrepreneurship, meaning 'to undertake'.
10,000 BCE
10,000 BCE
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Agricultural Revolution
Agricultural Revolution
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First human trade
First human trade
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Obsidian
Obsidian
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Industrial Age (1760-1840)
Industrial Age (1760-1840)
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Jean-Baptiste Say
Jean-Baptiste Say
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Richard Cantillon
Richard Cantillon
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Oxford Dictionary, 1897
Oxford Dictionary, 1897
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Webster's Dictionary, 1961
Webster's Dictionary, 1961
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Entrepreneurship (Today)
Entrepreneurship (Today)
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Entrepreneur
Entrepreneur
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Creative Entrepreneur
Creative Entrepreneur
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Study Notes
- APPL116 is the course code for Entrepreneurship.
- The lesson aims to analyze the history and basics of entrepreneurship.
- Students will define entrepreneurship core ideas and evaluate its nature.
- A key question is whether entrepreneurs are made or born, using the Futuremakers case study.
Origin of Entrepreneurship
- Entrepreneurship comes from the French word "entreprendre," meaning "to undertake."
- It involves pursuing opportunities and fulfilling needs through business innovation.
- The word appeared in the French dictionary in 1723.
Early Examples
- Around 10,000 BCE, before the Agricultural Revolution, people roamed for seasonal food.
- During the Agricultural Revolution, people farmed animals and crops in one place, developing skills like fishing, farming, and cooking.
- Early entrepreneurs were traders.
- The 1st recorded human trade was in New Guinea around 17,000 BCE.
- Locals traded obsidian, a volcanic glass for hunting tools, for necessities like tools, skin, and food.
Industrial and Modern Developments
- The Industrial Age (1760-1840) saw growth due to energy and worker availability.
- Jean-Baptiste Say used "entrepreneur" as an economic agent creating wealth via production factors.
- Entrepreneurs shift resources from lower to higher-valued activities.
- Richard Cantillon was the first person to use the word "entreprendre" in economics.
- Cantillon distinguished entrepreneurs from employees, noting their bearing of uncertainty through investment.
- The Oxford English Dictionary adopted "entreprendre" as "entrepreneur" in 1897.
- In 1961, Webster's defined an entrepreneur as an economic venture organizer who takes business risks.
- Today, entrepreneurship includes innovating, risk-taking, creating wealth, and thrill-seeking.
Who is an Entrepreneur?
- An entrepreneur starts and operates a business, with creativity and innovation
Reflection Questions
- What is common among the entrepreneurs?
- What contributed to their recovery?
- What or Who would be your personal highlights in the case?
- Are Entrepreneurs Made or Born?
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Description
Explore the history and core ideas of entrepreneurship. This lesson covers the origins of entrepreneurship, from its roots in the French word 'entreprendre' to early examples of trade and innovation. Analyze whether entrepreneurs are made or born, using the Futuremakers case study.
