This presentation consists of the development and evolution of entrepreneurship over decades. Hope you will find it useful. Thank you !!! You could also find this information on the link provided below. https://www.vz.ae/blog/past-versus-present-how-has-entrepreneurship-evolved-with-the-times

1. Evolution of Entrepreneurship
over decades
Submitted By : Ameya A Kshatriya
Enrolment no.- BE17F02F035
Class – BE Mechanical
This Photo by Unknown Author is licensed under CC BY

2. It’s a fact of life that almost everything changes and almost
everything evolves. Entrepreneurship is no different, and the
successful entrepreneurs are those that learn to embrace these
changes.
This may come as a surprise to some, as the basic definition of an
entrepreneur hasn’t deviated much over the years – it’s still a
person who starts a business despite the financial risks involved,
in the hope of making a profit. But while the definition hasn’t
changed, the business and wider cultural environment have.
Think back to an entrepreneur in the 1950s or 1960s – they may
well have had a very different focus and approach. The world has
changed remarkably in the last 65 years, and entrepreneurship
has both helped drive that change and been driven to
change with it.
Let’s look at this in more detail.

3. A Brief History
• Entrepreneurs, with their quest to discover and develop
markets, have been around for as long as humans have been
trading goods. This means they have been integral to our
social, economic and behavioral evolution. Think about the
development of intra- and inter-national trade, leading to
territorial conquest and social development, as discussed in Joe
Carlen’s A Brief History of Entrepreneurship.
• But the actual word ‘entrepreneur’ derives from a French one
meaning ‘to undertake’ – entrependre. It took on its now more
traditional meaning after economist Jean-Baptiste Say began
using it this way in 1800.
• For a long time, entrepreneurs were thought to be born, not
made. But this mindset began to change back in the 1950s,
when the concept of ‘entrepreneurial education’ came to fruition
in the USA and with it the study of business history.
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4. • The father of this concept was Frederick Terman, a leading
engineer at Stanford University, who expressed frustration at
constantly being overlooked for funding. He encouraged
academic staff and students to begin working with industry and
created courses to show them how. By 1985 Peter F. Drucker,
in his book Innovation and Entrepreneurship, was arguing,
‘Most of what you hear about entrepreneurship is all wrong. It’s
not magic; it’s not mysterious; and it has nothing to do with
genes. It’s a discipline and, like any discipline, it can be
learned.’
• The above example makes the 1950s a great comparison point
for how entrepreneurship has evolved. Your average
entrepreneur back then would have been white and male. Most
entrepreneurs were likely extroverts, happy to go from door-to-
door to get their product or idea ‘out there’. Successful
entrepreneurs generally lived where the money was, namely
the US or Europe. If you’re thinking, ‘this doesn’t sound like
me’, you wouldn’t be alone – but the image of the entrepreneur
has of course progressed since then.
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5. Changing Face
• So what’s changed? Well, quite a lot when it comes to the face
of new business ventures. What’s notable is that almost all the
changes I describe have their roots in the remarkable global
developments within technology and society.
• Information technology has been one of, if not the most
important social and economic drivers of the past half-century.
Many more ‘conservative’ countries have become increasingly
socially progressive and open to international trade. This is
particularly the case for the UAE. As the best-ranked country
in the Middle East for ‘ease of doing business’, according to
the World Bank Group, it already offers a relatively low-tax
environment before the even less restrictive free zones are
taken into account. The benefits for entrepreneurs have been
startling.
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6. 1.TECH
• While industrial manufacturing has been in slow
decline in developed nations, technological
entrepreneurship has moved in to fill the void. Tech
companies (e-commerce, software and technology)
in the UAE made up 29% of new businesses,
according to the 2017 MENA Venture Report. In the
1950s these were a distinct minority. Even if a
company isn’t a tech startup, it’s highly likely to be
utilizing developments such as social media, apps
and websites.

7. 2. Diversity
• The leap in technological faith, combined with social progression, has opened up
entrepreneurship to the masses. Today it is now much harder, if not impossible, to
conjure up that above-mentioned picture of the ‘typical’ modern entrepreneur.
• One of the most noticeable changes is that women now make up a significant
proportion of those in charge of startups. In emerging markets, the G20 estimates
that females, either through full or partial ownership, represent 31−38% of registered
small- to medium-sized enterprises (SMEs). According to the Global
Entrepreneurship Research Association, there are now even countries where
females report equal or higher entrepreneurship rates than men, one of which is
Qatar. Minority-owned businesses are also booming, while entrepreneurs in many
parts of the world are starting out younger and younger.
• Technology, with online advertising, social media and email, has allowed people who
would never have been thought to possess that entrepreneurial spirit to show they
had it in abundance after all.
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8. 3. Education
• One of the reasons why entrepreneurs can start out younger is
the rise of entrepreneurial education. Universities are now
churning out people with the necessary skill sets and
knowledge to hit the ground running. Such courses are no
longer restricted to the USA and Europe, with even universities
in the UAE, such as NYU Abu Dhabi and the Dubai
Entrepreneurs Academy, offering courses on business and
career development. And those without the opportunity to
attend such a prestigious course still have access to knowledge
through self-learning, such as via free online courses or
YouTube videos. Entrepreneurship is no longer the domain of
people with bright ideas and a dream, but those with bright
ideas and focused training to boot.
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9. 4. Location
• Technology also means it’s possible to work from
anywhere, at great speed, and great scale. You don’t
necessarily have to live where the money is anymore, and
you don’t have to spend your day knocking on doors. The
internet has been key to enabling this. Big businesses are
broadening their workforce to include and take advantage
of startups in smaller, developing nations. One study by
Willis Towers Watson, the risk management and
insurance brokerage firm, found that 54% of companies
globally are looking to change how they manage their
workforce to use more external contractors in the next
three years.

10. 5. Social Ethics
• An even more recent shift has been the rise of ‘ethical
entrepreneurs’. Touched by the social desire to stem
corporate greed, and in line with the growing trend for
conscious consumers and environmentalism, these
people are no longer purely profit-driven. The aim is to
build a socially conscious enterprise that returns
something to society. Companies such as TOMS, the
shoe store, which runs a ‘one-for-one’ policy – buy one
pair of shoes and another is donated to a person in need
– is a prime example. As is Ecosia, the search engine that
claims to use over 80% of its profits to plant trees where
they are needed most.
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11. A Constant Core
• Some things, though, quite simply haven’t changed
when it comes to entrepreneurs. We need the
ability to solve problems, to show creativity and
invention. There’s that entrepreneurial spirit too:
attributes like focus and tenacity – things that
simply cannot be taught in any classroom. Without
these, startups would never get off the ground.
• Then there is the ability to face hardship and failure
without giving in. To persist, or move quickly on
when things, as they invariably do, go wrong.
• Entrepreneurs still also need excellent
management skills. The ability to plan, make quick
decisions, motivate and lead, as well as market
and finance effectively. These are the kind of skills
frequently given a helping hand in the many
education courses across the world.This Photo by Unknown Author is licensed under CC BY

12. A Bright Future
• So, what will entrepreneurship look like in another
50 or 60 years? Well, it is hard to see beyond
technology as the driving force in the industry. More
and more automation should leave more and more
time for creativity. The ability to validate ideas
should become quicker and online communities
such as Kickstarter should continue to drive the
growth of ethical and community-based
entrepreneurs.
• Ultimately, what we can take away from our brief
glance at the recent history of entrepreneurship is
this: it is mainly the external factors that have
changed – the technology available, the greater
opportunities open to marginalized groups as the
social and cultural landscape evolves. But when it
comes to behavioral traits, I fully expect the most
successful entrepreneurs will continue to be those
who do what they have always done so well –
innovate, move with the times and refuse to give
up.
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