ENTREPRENEURSHIP 11

QUARTER 1 WEEK 1&2

The word “entrepreneur” is derived from the French verb enterprendre, which
means „to undertake‟. This refers to those who “undertake” the risk of new
enterprises. An enterprise is created by an entrepreneur. The process of creation is
called “entrepreneurship” (www.yourarticlelibrary.com).

DIAGNOSTIC ASSESSMENT (PRE-TEST)

Identification. Read carefully the statements below and identify whether this refers to
Entrepreneurship or Entrepreneur. Answer directly in the answer sheet provided.

1. A person who undertakes the risk of starting a new business venture.

2. It is high-risk, but also can be high-reward as it serves to generate economic
wealth, growth, and innovation.
3. Creates a firm, which aggregates capital and labor in order to produce goods or
services for profit.
4. It is an important driver of economic growth and innovation.
5. Creates a business plan, hire labor, acquire resources and financing, and provide
leadership and management for the business.

Part II: Read the statements carefully then write True if the statement is correct & write
False if you think the answer is not correct.
____________1. Entrepreneur means “to undertake.”
____________2. Entrepreneurship is a process of actions of an entrepreneur who is
always in search of opportunities.
____________3. The greatest significance of entrepreneurship is to help identify and
develop the managerial capabilities of entrepreneurs.
____________4. Entrepreneurship will lead to the creation of organizations.
____________5. Entrepreneurship can improve the life of the entrepreneur only.
____________6. Coward people will become successful entrepreneur.
____________7. An entrepreneur is a “Risk Taker”.
____________8. Entrepreneurship is not an economic activity.
____________9. Entrepreneurs are innovative.
____________10. Profit potential is the compensation of the entrepreneur.
____________11. An entrepreneur can become a business consultant.
____________12. An entrepreneur can also be a researcher.
____________13. An entrepreneur can also become a salesman.
____________14. Entrepreneurship graduates can become a business reporter.
____________15. The entrepreneur could easily see the results of his efforts.

Entrepreneurship is one of the resources economists categorize as integral to

production; the three resources are land/natural resources, labor and capital. An
entrepreneur combines these three to manufacture goods or provide services. They
typically create a business plan, hire labor, acquire resources and financing, and
provide leadership and management for the business (www.investopedia.com).

2
Entrepreneurship in the Philippines (Batalla, V. (2011)

The notion of the entrepreneur as simply one who forms and manages business
is apparent in government programs that attempt to develop small-scale industries. In
the Philippines, many entrepreneurial development-training programs rest on such
assumptions. But even without the presence of government support, the statistics for
the past fifty years or so on the number of business establishments formed every year
would generally show an increasing trend. They were mostly in food processing,
property development, and trade (including shopping malls).

In 2005, the top 50 Philippine corporations in terms of sales could be broken

down into 22 private domestic firms, 23 foreign firms, and 5 government-owned and/or
controlled corporations (BizNews Asia 2007as cited by Batalla, V., 2011). The 22
companies could be identified with 11 families and individuals, mostly Filipinos of
Chinese ethnic background. The 11 families and individuals were the Zobel family
(Ayala), the Lopez clan, Lucio Tan, Henry Sy, John Gokongwei, Alfonso Yuchengco,
Eduardo Cojuangco Jr., Jose Yao Campos (Unilab Group of Companies), George Ty
(Metrobank), Mariano Que (Mercury Drug), and Tony Tan-Caktiong (Jollibee).

ACTIVITY 1

Definition of Terms: To fully understand this module, please read carefully the
definitions in column A and match it with the word/phrase in column B. Write your
answer in the sheet provided.

Column A Column B

1. It involves developing new products or improving existing A. Livelihood

technologies, processes, designs and marketing to solve
problems, increase efficiency, reach new customers, and
ultimately increase profits.

2. Involves sale or lease of any product, service, equipment, B. Entrepreneurship

etc. that will enable the purchaser-licensee to begin a
business.

3. Refers to the act of creating a business or businesses C. Social Change

while building and scaling it to generate a profit.

4. Refers to their "means of securing the basic necessities D. Socioeconomic

(food, water, shelter and clothing) of life".

5. The system of production, distribution and consumption. E. Business

The overall measure of a currency system; as the Opportunity
national economy.

6. Is a person who sets up a business with the aim to make F. Business Venture
a profit.

3
 7. Refers to any significant alteration over time in behavior G. Relevance
patterns and cultural values and norms.

8. Related to the differences between groups of people H. Business

caused mainly by their financial situation. Innovation

9. It is a new business that is formed with a plan and I. Entrepreneur

expectation that financial gain will follow. It is usually
formed out of a need for a service or product that is lacking
in the market.

10. It is simply the noun form of the adjective "relevant," J. Economy

which means "important to the matter at hand."

LESSON 1 OVERVIEW OF ENTREPRENEURSHIP

Relevance of Entrepreneurship to an organization

1. Development of Managerial capabilities- this means that one of the benefits an

entrepreneur gets is to develop his managerial skills.
2. Creation of Organizations- which means that because of entrepreneurships many
organizations will exist.
3. Improving standard of living- this means that entrepreneurship can lift up the
economic status of an individual.
4. Means of economic development- this means that not only the life of the
entrepreneur is improved but also the society where the business is located.

Concept of Entrepreneurship

The word “entrepreneur” was derived from the French verb enterprendre,
which means “ to undertake” This is pinpointing to those who ”undertake” the risk of
enterprise. The enterprise is created by an entrepreneur and the process is called
“Entrepreneurship”

Entrepreneurs are innovators, willing to take risks and generate new ideas to
make it unique and profitable solutions to the present-day problems.

Factors Affecting Entrepreneurship

1. Personality Factors which includes:

a. Initiative- which means doing things even before being told

b. Proactive-which means he can classify opportunities and seize it.
c. Problem Solver- which means he can retain good relations with other people
d. Perseverance-meaning he will pursue things to get done regardless of challenges
e. Persuasion- means that he can entice people to buy even if they don’t.
f. A Planner- meaning he makes plan before doing things and do not fail to
monitor it.

4
 g. Risk-taker which means that he is willing to gamble but he will calculate it
first.

2. Environmental Factors which include political, climate, legal system,

economic and social conditions and market situations.
Common Competencies in Entrepreneurship

1. Decisive- an entrepreneur must be firm in making decisions.

2. Communicator- an entrepreneur must have a convincing power.
3. Leader-an entrepreneur an entrepreneur must have the charisma to be
obeyed by his employees
4. Opportunity seeker- an entrepreneur must have the ability to be the first to
see business chances.
5. Proactive- controlling a situation by making things to happen or by preparing
for possible future problems.
6. Risk Taker- they have the courage to pursue what is their business ideas.
7. Innovative- the entrepreneurs have big business ideas and they do not stop
improving and thinking of new worthwhile ideas for their business.

Core Competencies in Entrepreneurship

1. Economic and dynamic activity- Entrepreneurship is an economic activity

because it involves the creation and operation of an enterprise with a view to creating
value or wealth by ensuring optimum utilization of limited resources.
2. Innovative- Entrepreneurs constantly look for new ideas, thus he needs to be
creative.
3. Profit Potential- meaning the entrepreneur can be compensated by his profit
coming from the operation.
4. Risk bearing –meaning the entrepreneur needs to gamble but wise enough to offset
the risk.

Types of entrepreneurs

1. Innovative entrepreneur- they are those who always make new things by thinking
of new ideas.
2. Imitating entrepreneurs- they are those who don’t create new things but only follow
the ideas of other entrepreneurs.
3. Fabian entrepreneurs- they are those skeptical. They don’t initiate but follow only
after they are satisfied.
4. Drone entrepreneur- they are those who lives on the labor of others. They are die-
hard conservatives even ready to suffer the loss of business.
5. Social entrepreneurs-they are those who initiate changes in the various fields such
as education, health, human rights, environment and enterprise development.

Career Opportunities of Entrepreneurship

5
1. Business Consultant- with the expertise of the entrepreneur he can be a very good
source of advices to other entrepreneurs and would be business man.
2. Teacher- a graduate of an entrepreneurship can be use his knowledge in teaching
3. Researcher- the entrepreneur can be employed as researcher by an enterprise.
4. Sales- the entrepreneurship graduate can apply as salesman
5. Business Reporter- the entrepreneur being expert in the field, he can be employed
as business reporter.

Types of Entrepreneurs

1. Innovative entrepreneurs- have the ability to think newer, better and more
economical ideas.
2. Imitating- these are people who follow the path show by innovative entrepreneurs
3. Fabian Entrepreneurs- are skeptical about changes to be made in the organization.

4. Drone entrepreneurs- are persons who lives on the labor of other

5. Social entrepreneur- are people who drive social innovation and transformation in
various fields including education, health, human rights and many others

Self- Assessment
Direction: Find out if you have the qualities of an entrepreneur.

QUALITIES YES NO
Risk Taker
Communicator
Leader
Opportunity/Seeker
Proactive
Innovators
Decisive

Interpretation: If you have more YES than NO, you have the qualities of an
entrepreneur.

LESSON 2 RELEVANCE OF ENTREPRENEURSHIP TO SHS STUDENTS

Importance of Entrepreneurship (www.reference.com)

1. Entrepreneurship generates new wealth in an economy.

2. Entrepreneurship decreases poverty.
3. It creates opportunities, ensures social justice, instills confidence and
stimulates the economy.
4. Entrepreneurship improves productivity.
5. Entrepreneurs create jobs.
6. Entrepreneurs innovate.
7. Entrepreneurs create innovation and social change.

6
8. Entrepreneurs give to society.

Relevance of Entrepreneurship to SHS Students

(www.europeanentrepreneurship.com)

1. To prepare students for livelihood even before college.

2. Entrepreneurship education aids students from all socioeconomic backgrounds
to think outside the box and nurture unconventional talents and skills.
3. Entrepreneurship develops their initiative and helps them to be more creative and
self-confident in whatever they undertake and to act in a socially responsible way.
4. It exposes students to numerous opportunities to learn how to think critically and
analyze the pieces on the board.
5. Being aware of all the important factors and seeing how they affect each other is
the foundation of a smart decision-making process.
6. Students have to be exposed to real-world examples and learn from their
own experience.
7. Entrepreneurship education requires students to be innovative, creative and
collaborative with others.
8. Entrepreneurship education provides budding entrepreneurs with the skills and
knowledge to come up with business ideas and develop their own ventures.

FORMATIVE ASSESSMENT

Multiple Choice. Read and answer each statement carefully then write the letter of
the best answer in the answer sheet provided.

1. Who acts as a coordinating agent in a capitalist economy

a. Manager c. Entrepreneur
b. Finance Officer d. Broker

2. Which of the following is not a definition of Entrepreneurship?

a. It creates opportunities, ensures social justice, instills confidence and
stimulates the economy.
b. It is an important part of the economic growth strategies of many local and
national governments around the world.
c. Refers to a person who sets up a business with the aim to make a profit.
d. The act of creating a business or businesses while building and scaling it to
generate a profit.

3. Which of the following is a relevance of Entrepreneurship to SHS Students?

a. It generates new wealth in an economy.
b. It aids students from all socioeconomic backgrounds to think outside the box.
c. It creates opportunities and ensures social justice.
d. It creates job.

4. Which statement is not correct about the status of entrepreneurship in the

Philippines?
a. The number of business establishments formed every year would generally
show an increasing trend.
b. N-entrepreneurs are people who can secure resources such as technology
and information to gain distinct, sustainable, competitive advantages.
7
 c. In 2005, the top 50 Philippine corporations in terms of sales could be broken
down into 25 private domestic firms, 20 foreign firms, and 5 government-
owned and/or controlled corporations.
d. The 22 companies could be identified with 11 families and individuals, mostly
Filipinos of Chinese ethnic background.

5. Which of the following words is not associated with entrepreneur?

a. Innovative b. Collaborative c. Impulsive d. Creative

6. The entrepreneurs who create new ideas are called?

a. Innovative b. Imitating c. Fabian d. Drone

7. The entrepreneur who lives on the labor of others is called?

a. Drone b. Fabian c. Imitating d. Innovative

8. These are entrepreneurs who are to follow the path shown by innovative
entrepreneur.
a. Innovative b. Imitating c. Social Entrepreneurs d. Fabian

9. Which of the following is NOT a function of an entrepreneur?

a. Skills management c. Conduct Research
b. Risk Taking d. Make no changes with his product

10. Entrepreneur means:

a. Risk taker c. To research
b. To undertake d. To improve standard of living

11. It is a personality factor which means “doing things even before being
told”
a. Proactive b. Perseverance c. Persuasion d. Initiative

12. It is a personality factor which means convincing customers to buy the

product
a. Proactive b. Persuasion c. Self-confidence d. Risk taker

13. Which of the choices is NOT part of the environmental factors?

a. Political
b. Weather Condition
c. Climate
d. Family background of the manager

14. All except one does NOT belong to the group?

a. Unfair trade practices c. Political protest
b. Strikes d. Product

15. The entrepreneur who is skeptical about the changes in the company is
called?
a. Fabian c. Drone
b. Social Enterpreneur d. Imitating

8
 16. Which is NOT a career for an entrepreneur?
a. Business consultant c. Research and Development
b. Sales d. Domestic Helper

17. They are entrepreneurs who drive social innovation and transformation
in various fields.
a. Drone c. Fabian
b. Social Entrepreneur d. Imitating

18. Which of the statements below is true?

a. Entrepreneur has limited career opportunities
b. Entrepreneurs are prone to constant high income
c. Entrepreneurs are contributor to the development of the society
d. Entrepreneurs are the reasons for unemployment problem

19. Which of the statement is NOT true?

a. An entrepreneur will patiently wait for his efforts to bear fruit.
b. The profit of the entrepreneur is immediate.
c. All entrepreneurs are successful
d. Entrepreneurs are researchers

20. Which of the following is NOT true?

a. Entrepreneurship create organizations
b. Improves the life of the entrepreneur alone
c. Entrepreneurs improves the economy
d. None of the choices

References:
1. DepEd ADM Module Cagayan de Oro Division
2. DepEd ADM Module NCR