Wednesday, 28 October 2015

Evolution of Entrepreneurship / Entrepreneur |page 1

Evolution of Entrepreneurship

We all want to become an entrepreneur. Recently, i designed a blog lately for someone and after complimenting me on the work he said he dosent like the about me tab that he wanted it to be About the CEO Or About The manager Tab. Essence, the desire to become an entrepreneur or to be seen and addressed as one. in this article and the ones that will follow we will learn about the evolution of entrepreneurship / entrepreneur. we would learn about this in parts as we cant learn all in a single post. thus have divided it into pages this is the page one as you can see from the title, frequent series will follow comprising of page 2, 3, 4.......end. please always revisit us to keep track. you can bookmark us or better still sign up to get all our daily post in your inbox. sign up below.

You cant claim to be an entrepreneur when you don't know its origin and evolution. its important you learn this.

Who is and entrepreneur  what is Entrepreneurship  these frequently asked questions reflect the importance attached to the term entrepreneurship.
An entrepreneur is a french word which mean ' a go-between' or to 'undertake'(entreprede). an entrepreneur is an individual who takes risks and starts something new.

An entrepreneur in the early ages portrays the definition of a 'go between'. this period can be traced to MARCO POLO, who attempted to establish trade routes to the far east. he signs contract with a venture capitalists to sell his goods. while the capitalists was a passive risk bearer, the merchant-adventurer (MARCO POLO) took the active role in trading, bearing all the physical and emotional risks. when he has successfully sold the goods and completed the trip, the profits were divided with the capitalist taking most of them (up to 75%) while the merchant-adventurer settled for the remaining 25%.

In the middle ages, an entrepreneur was used to describe a person who manages projects. this individual does not take any risks, but merely manages a project using the the sources provided, usually by the government of the country. a typical entrepreneur was the CLERIC- who was in charge of great works, such as castles and fortifications, public buildings, abbeys, cathedrals, etc.

The connection or risk to entrepreneurship developed in the 17th century. here an entrepreneur enters a contract arrangement with the government to perform a service or supply products for a stipulated time. any resulting profits or losses were the entrepreneurs'. a famous entrepreneur in this period was JOHN LAW, a Frenchman  who was allowed to open a royal bank. the royal bank eventually evolved into an exclusive franchise to form a trading company in the new world- the Mississippi company. this company later went bankrupt when JOHN LAW attempted to push the company's stock price higher than the values of its assets. 
RICHARD CANTILLON, a noted economists and author understood law's mistake and developed one of the early theories of entrepreneur. he is regarded by some as the founder of the term entrepreneur  he sees the entrepreneur as a risk taker who buys at a certain price and sells at an uncertain price, therefore operating at a risk.

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