Entrepreneurship

Module 1
Introduction to
Entrepreneurship
Introduction

Businesses are the backbone of the economy. Entrepreneurs play an

important role in developing the economy through providing the needed
products and services including the solution to the problem of
unemployment.
Entrepreneurship is encouraged by the economy because it can
provide a lot of opportunities for the unemployed people. It will increase
per capita income, improve standard of living and increase individual
savings, provide revenue to the government in the form of income tax,
value added tax, export duties, import duties, and balanced regional
development.

After reading this module, the learners should be able to:

1. discuss the relevance of the course;
2. explain the key concepts of common competencies;
3. explain the core competencies in Entrepreneurship; and
4. explore job opportunities for Entrepreneurship as a career.

1
 In going through the module, you have to extend your patience in
understanding and analyzing what you are reading. Follow the directions
and/or instructions in the activities. Answer the given tests and exercises
carefully. Comply the required activities provided.

Before starting with this module, let us see what you already know
about Entrepreneurship. Answer the questions below.

Instruction: Read the statements carefully then write True if the statement
is correct & write False if you think the statement 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 entrepreneurs.
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
business reporters.
15. The entrepreneur could easily see the results of his efforts.

2
 Lesson
Introduction to Entrepreneurship
1

Before we will proceed to our lesson, can you tell me what comes
into your mind when you hear the word Entrepreneur? Write it on your
activity notebook. (All answers will be accepted)

Activity

Activity 1. Let Me Know

Give at least five (5) names of entrepreneurs that you know, may it
be from your locality or within the Philippines. Identify what are their
common traits as entrepreneurs. Write it on your activity notebook and
submit it to your teacher.

Competencies of Entrepreneurs

Activity 2. Essay

Explain the following questions below about the

competencies of entrepreneurs.
1. What characteristics can you observe or see that are common
among the entrepreneurs that you have listed?

2. Who among the entrepreneurs that you mentioned do you

admire the most and why?
3. In your own opinion, what do you need to possess to become a
successful entrepreneur?

3
 RUBRIC FOR ESSAY
Content The content was well-thought, 4
guide
questions were thoroughly
answered
Organization The paper was well-written with 3
ideas
easily conveyed to readers.
Development Points are thoroughly developed 3
TOTAL 10

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
entrepreneurship 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. They are willing to take the risks and
generate unique ideas that can provide profitable solutions to the needs
of the market and the society.

Factors Affecting Entrepreneurship

1. Personality Factors which include:

a. Initiative - doing things even before being told.
4
b. Proactive - which means he can classify opportunities and seize it.

5
 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 want
to.
f. A Planner - he makes plans before doing things and does
not fail to monitor it.
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 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 – an entrepreneur can control a situation by making
things happen or by preparing for possible future problems.
6. Risk Taker – an entrepreneur has the courage to pursue business ideas.
7. Innovative - the entrepreneur has big business ideas and he does
not stop improving and thinking of new worthwhile
ideas for his 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.

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2. Innovative – The entrepreneur constantly looks for new ideas, thus
he needs to be creative.
3. Profit Potential - The entrepreneur can be compensated by his profit
coming from the operation.
4. Risk bearing – The entrepreneur needs to gamble but wise enough to offset

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 the risk.

Types of Entrepreneurs

1. Innovative Entrepreneurs - They are those who always make new

things by thinking of new ideas. They have the ability to think
newer, better and more economical 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 skeptical about changes to be made
in the organization. They don’t initiate but follow only after they are
satisfied.
4. Drone Entrepreneurs - They are those who live 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 and drive
social innovation and transformation in the various fields such as
education, health, human rights, environment and enterprise
development.

Career Opportunities of Entrepreneurship

1. Business Consultant - with the expertise of in the field of

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

8
Activity 3. Self- Assessment
Direction: Find out if you have the qualities of an entrepreneur. Put a
check mark on the column that identifies whether you have the qualities of
an entrepreneur or not.

Qualities YES NO
Risk Taker
Communicator
Leader
Opportunity Seeker
Proactive
Innovator
Decisive

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

9
Activity 4. Interview the Known

Choose three successful entrepreneurs in your community or nearby

places and conduct an interview using the guide questions below. Discuss
the result of your interview to your teacher.

1. What motivated you to become an entrepreneur?

2. What do you think are your characteristics and competencies
that made you a successful entrepreneur?
3. What do you think of being employed? Why you did not choose that path?

Assessment

Now, that you are finished accomplishing the module, let us check
what you have learned. Answer the questions given below by encircling
the letter of the correct answer.

1. The entrepreneurs who create new ideas are called .

a. Innovativ
c. Fabian
e
d. Drone
b. Imitating

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

a. Drone
c. Imitating
b. Fabia
d. Innovative
n

3. These are entrepreneurs who are to follow the path shown by

innovative entrepreneurs.
a. Innovativ c. Social Entrepreneurs
e
d. Fabian
b. Imitating

10
4. Which of the following does not belong to the group?
a. Skills management c. Conduct research
b. Risk taking d. Make no changes with his product
5. Entrepreneur means:
a. Risk taker
c. To research
b. To
d. To improve standard of living
undertake

6. It is a personality factor which means “doing things even before being told.”
a. proactive
c. persuasion
b. perseveranc
d. initiative
e

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

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

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

a. Political
b. Weather condition
c. Climate
d. Family background of the manager
9. All except one does NOT belong to the group. Which one is it?
a. Unfair trade
c. Political protest
practices
d. Product
b. Strikes

10. The entrepreneur who is skeptical about the changes in the company is called
a. Fabian
c. Drone
b. Social entrepreneur
d. Imitating
11. Which is NOT a career for an
entrepreneur?
c. Research and Development
a. Business consultant
d. Domestic Helper
b. Sales

12. They are entrepreneurs who drive social innovation and

11
transformation in various fields.
a. Drone d. Imitating
b. Social
entrepreneur
c. Fabian

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13. Which of the statements below is true?
a. Entrepreneurs have limited career opportunities.
b. Entrepreneurs are prone to constant high income.
c. Entrepreneurs are contributors to the development of the society.
d. Entrepreneurs are the reasons for the unemployment problem.
14. Which of the statements 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 researcher.
15. Which of the following is NOT true?
a. Entrepreneurship creates organizations.
b. Entrepreneurs improve the life of the entrepreneur alone.
c. Entrepreneurs improves the economy.
d. None of the choices

Additional Activities

Activity 5. Research Me

Research on the life story of at least three (3) entrepreneurs in your

locality; identify how they started their business. Ask how much was their
start-up capital.

13
 References

BOOKS
Aduana, N. (2017). Entrepreneurship in Philippine Setting (for Senior High School)

Aduana, N. (2017). Etrepreneurship in Philippine Setting for Senior High

School. C&E publishing Inc.p.46-51

Aduana, N. (2016). Entrepreneurship In Philippine Setting For Senior High

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Philippines: C&E Publishing.

Aduana,N (2015). Financial statements; Preparation, presentation, analysis

and interpretation, presentation.Quezon City, Philippines: C & E
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Banastao,C.,& Frias, S.(2008) Entrepreneurship.Quezon City Philippines: C &

E Publishing,Inc.

Batisan, R. (2016). Entrepreneurship Module, Diwa Senior Highschool Series,

Diwa Learning System Inc. Legaspi Village, Makati City Philippines.

Batisan, R. (2016). Entrepreneurship: Diwa Senior High School Series,

Diwa Learning Systems Inc., p. 16-20

De Guzman, A. (2018). Entrepreneurship for Senior High School

Applied Subject ABM Strand. Lorimar Publishing, Inc. p.1-5

De Guzman, A. (2018). Entrepreneurship. For Senior High School

Applied Subject ABM Strand. Lorimar Publishing, Inc. p. 25 – 26.

Edralin, D.(2016). Entrepreneurship. Quezon City: Vibal Group, Inc. p. 80 – 83.

Habaradas, R. & Tullao, T.Jr. (2016). Pathways to Entrepreneurship.

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Leedy, P. & Ormrod, J. (2001). Practical Research: Planning and

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Lopez, R. Jr. (2016). Fundamentals of Accounting.

Lopez, R. Jr.(2015). Basic Accounting for Non-

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Accounting.

Morato, E. Jr. (2016). Entrepreneurship, 1st ed., Manila, Philippines: REX

Books Store,p.13

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Teaching Guide for Senior High School, Fundamentals of Accountancy,
Business, & Management 1, CHED in collaboration with PNU

15
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