Joseph Schumpeter

Initiative An individual or group takes the initiative. 2. brass Resources ar brought together in organization to accomplish some objective (or the resources in existing organization be reorganized) 3.Administration Those who took the initiative to take over the management of the operation 4. Relative Autonomy The initiators assume relative emancipation to dispose of and distribute resources. 5. Risk taking The organizations achievement 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 engross about 55 ppercent of the Philippine labor force and contribute 30 ppercent to total domestic sales volume. Current problems that F ilipino entrepreneurs encounter straight off in setting up and maintaining their competitiveness in their community are the * inadequate access to technology * financing capital * marketing advice * logistic problemsTo further emphasize the importance of developing entrepreneurship education, a recent watch by the Center for Asia Pacific Studies reveals, out of each 100 children enrolled every year, 66 willing complete elementary education, 42 will eat up high school and only 14 will earn a college degree. A study by Smart Communications adds, only 7. 7% of graduates get employed. This mearns that out of 100 children that goes to school, only one will end up getting a job. The importance of developing an modernistic and entrepreneurial culture is a crucial part of the Philippines developed produce future.Entrepreneurship directly leads to more business, more job opportunities and better quality of life. starting line and running a business can be a unfeigned option for ne w people, offering an alternative mearns of achieving both financial and ad hominem independence. Supporting youth entrepreneurship can benefit both the Filipino jejuneness and the economy. It can 1. create job opportunities, through self-employment and by providing additional employment opportunities 2. give young people a sense of meaning and role 3. premote innovation and resilience in young people and 4. help young people develop life skills.