Joseph Schumpeter

Initiative An individual or group takes the initiative. 2. Organization Resources are brought together in plaque to accomplish some objective (or the resources in existing organization are reorganized) 3.Administration Those who took the initiative to take over the management of the operation 4. Relative Autonomy The initiators assume relative freedom to dispose of and distribute resources. 5. risk of infection taking The organizations success or failure is shared by the initiators superiors and subordinates. Entrepreneurs are the backbone of our economy. The Philippines is an entrepreneurial country.Small and medium-sized enterprises (SME), including micro-enterprises, account for 99 ppercent of all business establishments and 60 ppercent of the exporting firms in the Philippines. According to the Department of Trade and Industry, SMEs currently employ about 55 ppercent of the Philippine labor aim and contribute 30 ppercent to total domestic sales volume. Current problems that F ilipino entrepreneurs encounter today in setting up and maintaining their competitiveness in their community are the * inadequate access to technology * funding capital * marketing advice * logistical problemsTo further emphasize the magnificence of climbing entrepreneurship education, a recent sight by the Center for Asia Pacific Studies reveals, out of every 100 children enrolled every year, 66 will recognize elementary education, 42 will finish high school and only 14 will put one over a college degree. A study by Smart Communications adds, only 7. 7% of graduates get utilize. This mearns that out of 100 children that goes to school, only one will end up getting a job. The importance of developing an innovative and entrepreneurial culture is a crucial part of the Philippines developed state future.Entrepreneurship direct leads to more business, more job opportunities and better quality of life. Starting and running a business offer be a real option for young people, off ering an alternative mearns of achieving both financial and individual(prenominal) independence. Supporting youth entrepreneurship can benefit both the Filipino Youth and the economy. It can 1. create study opportunities, through self-employment and by providing additional employment opportunities 2. give young people a sense of subject matter and purpose 3. premote innovation and resilience in young people and 4. help young people develop life skills.