Department of Education

National Capital Region

SCHOOLS DIVISION OFFICE
MARIKINA CITY

ENTREPRENEURSHIP
Relevance of the Course
First Quarter-Module 1

Writer: Richelle Requinala, MBA, LPT

Cover Illustrator/ Writer: Sheila Mae A. Malesido, MBA, LPT

1
City of Good Character
DISCIPLINE • GOOD TASTE • EXCELLENCE
 This module was designed and written with you in mind. It is here to help you
develop knowledge, skills, and attitudes in the course of Entrepreneurship. The
scope of this module permits it to be used in many different learning situations.
The language used recognizes the diverse vocabulary level of students. The
lessons are arranged to follow the standard sequence of the course. But the order
in which you read them can be changed to correspond with the textbook you are
now using.

The module is divided into two lessons, namely:

 Lesson 1 – Discuss the relevance of the course
 Lesson 2 – Explore job opportunities for Entrepreneurship as a career.

After going through this module, you are expected to:

1. define entrepreneurship, entrepreneur, and enterprise.
2. distinguish entrepreneur from a businessman.
3. identify misconceptions on entrepreneurship.
4. explain the compounded benefits of entrepreneurship to the Filipino
people, local community, and to the Philippine economy.
5. determine the relevance of Entrepreneurship to senior high school
students.

Before each statement, write TRUE if the statement is correct or FALSE if the
statement is incorrect.

_____________ 1. All businesspeople are entrepreneurs.

_____________ 2. Acquiring sufficient knowledge in entrepreneurial principles equips
you to maximize entrepreneurial opportunities.
_____________ 3. Learning various concepts and principles of Entrepreneurship can
certainly make a person become a successful entrepreneur.
_____________ 4. Manager is a person practicing entrepreneurship.
_____________ 5. An enterprise is created by an entrepreneur.
_____________ 6. There is no universally accepted definition of the term
entrepreneurship.
_____________ 7. Entrepreneur is different from a businessman.
_____________ 8. The term “entrepreneur” originates from the Italian verb
enterprendre, which means “to undertake”.
_____________ 9. Entrepreneurship education requires students to be innovative,
creative and collaborative with others.
_____________ 10. Philippine Constitution recognizes entrepreneurship as an engine
of economic growth.

1
City of Good Character
DISCIPLINE • GOOD TASTE • EXCELLENCE
 Lesson

1 Relevance of the Course

Acquiring basic working knowledge in entrepreneurship becomes necessity for

you as a student. The fundamental entrepreneurial concepts may contribute to the
success of your endeavor. Acquiring sufficient knowledge of entrepreneurial
principles equips you with the necessary tools in handling and maximizing
entrepreneurial opportunities. However, even a full understanding of the concepts
and principles of entrepreneurship is not an assurance that you will become a
successful entrepreneur. You have to work hard to go through the whole
entrepreneurial process. Knowing the entrepreneurial principles is one thing and
becoming a successful entrepreneur is another.

The term “entrepreneur” originates from the French verb enterprendre, which
means “to undertake”. It was coined from the words entre, which means
“between”, and prendre, which means “to take”.

Read each statement carefully. State if it refers to Entrepreneurship, Entrepreneur

or Enterprise. Write your answer in a yellow paper.
_____________ 1. It is a way of thinking.
_____________ 2. It is a business organization
_____________ 3. A key driver of our economy.
_____________ 4. A dreamer and would turn vision into reality.
_____________ 5. It is where Entrepreneurial activity is going on.
_____________ 6. Essentially a creative activity or it is an innovative function.
_____________ 7. An individual who forms an organization for commercial purpose.
_____________ 8. A creative artist who is constantly ready to transform trash into art.
_____________ 9. An ability to create, manage and operate a new business and bears
all of its risk with a view to earn profits.
_____________ 10. Provides potential entrepreneurs with the skills and knowledge to
come up with business ideas and develop own ventures.

2
City of Good Character
DISCIPLINE • GOOD TASTE • EXCELLENCE
What is Entrepreneurship?

 Entrepreneurship – It is a philosophy or process through which an entrepreneur seeks

innovation and employment.

 Entrepreneurship is the art of observing correct practices in managing and

operating a self-owned, wealth-creating business enterprise by providing goods
and services that are valuable to the customers. – (Aduana, Nick L., 2017, p.5)

 Entrepreneurship can be defined as a field of business that seeks to understand

how opportunities to create something new (e.g., new products or services, new
markets, new production processes or raw materials, new ways of organizing
existing technologies) arise and are discovered or created by specific persons, who
then use various means to exploit or develop them, thus producing a wide range
of effects (Baron, Shane, & Reuber, 2008, p. 4)

 A concise definition of entrepreneurship “is that it is the process of pursuing

opportunities without limitation by resources currently in hand” (Brooks, 2009,
p. 3) and “the process of doing something new and something different for the
purpose of creating wealth for the individual and adding value to society” (Kao,
1993, p. 70)

 A process of designing and running a new business venture for earning profits. It
is a process that brings innovation that is new ideas, products, and services in
the market.

 The ability to create, manage and operate a new business and bears all of its risk
with a view to earn profits.

 It involves seeking opportunities for market, establishing and operating a

business out of the opportunity, and assessing its risks and rewards through
close monitoring of the operations.

 It is more than just an economic term — it is a way of thinking.

-People exposed to entrepreneurship frequently express that they have more

opportunity to exercise creative freedoms, higher self-esteem, and an overall
greater sense of control over their own lives.

-A way of inspiring creative individuals to pursue opportunities despite its risks.

Standard (New) Definition

Entrepreneurship is the process of creating something different with value by

devoting the necessary time and effort, assuming the accompanying financial,
psychic, social risks and receiving the resulting rewards of monetary and personal
satisfaction and independence.

3
City of Good Character
DISCIPLINE • GOOD TASTE • EXCELLENCE
 New Definition involves four aspects –

1. The creation process

2. Devotion of time and efforts
3. Assumption of risks
4. Rewards of independence, satisfaction, money.

Entrepreneurship can also be described as a creative and innovative response to

the environment.

Please note that key word in Entrepreneurship is RISK. Any venture where risk
is mitigated due to any reason does not qualify to be called entrepreneurship.

Who is an Entrepreneur?

 Entrepreneur (Oxford Dictionary) – Person who undertakes an enterprise with

chances of profit or loss. (As I have understood, Entrepreneur is a person who
undertakes a business activity of which he has no background and faces
considerable risks in the process. If either of the two elements, i.e., “no
background” or “considerable risk” is missing in the venture, it is no
entrepreneurship).

 Entrepreneur – (New Encyclopaedia Britannica) – An individual who bears the

risk of operating business in the face of uncertainty about the future conditions.
Common Meaning – one who starts his own, new and small business

 The American Heritage Desk Dictionary defines an entrepreneur as a person who

organizes, operates, and assumes the risk of business ventures.

 An entrepreneur is defined as a person who strongly advocates and correctly

practices the concept of entrepreneurship in operating and managing the self-
owned business venture. – (Aduana, Nick L., 2017, p.5)

 “An entrepreneur is the one who always searches for change, responds to it and
exploits it as an opportunity. Innovation is the specific tool of entrepreneurs, the
means by which they exploit changes as an opportunity for a different business
or different service”. - Peter Drucker

 An individual who forms an organization for commercial purpose. He is

proprietary capitalist, a supplier of capital and at the same time a manager who
intervenes between the labor and the consumer. - Adam Smith

 An entrepreneur can be described as “one who creates a new business in the face
of risk and uncertainty for the purpose of achieving profit and growth by
identifying significant opportunities and assembling the necessary resources to
capitalize on them” (Zimmerer & Scarborough, 2008, p. 5).

 An entrepreneur is “one who organizes, manages, and assumes the risks of a

business or enterprise” (Entrepreneur, n.d.).

 Dissecting the word we get

Entre – Enter Pre – Before Neur – Nerve Centre

4
City of Good Character
DISCIPLINE • GOOD TASTE • EXCELLENCE
How do you define an entrepreneur in the 21st Century?
An entrepreneur of 21st century is a customer focused innovator. He uses e–
knowledge. Advantage is speed. He is a global thinker even though he may not
necessarily be a global player.

Entrepreneurs are people who create new business activity in the economy
and bear considerable business risk in the process. This is often done by starting
new companies. But they can also create new business activity by introducing a new
product or creating a new market.

Differences between Businessmen and Entrepreneur

Here is the list of some variations between a businessman and an entrepreneur:

Businessman Entrepreneur

A businessman person who sets up An entrepreneur is a person who

an existing idea starts with new idea

Creates place in existing markets Creates new market

Market player Market leader

Calculative Intuitive

Less risk Comparatively High risk

Conventional Unconventional

Profit orientation People-oriented

Very high competition Low Competition

What is an Enterprise?

 Enterprise (Oxford Dictionary) – Bold Undertaking

 It is where Entrepreneurial activity is going on like Company, Industry, Firm,
organization, office, agency, franchise, Shops, and etc.
 It supports the recognition of new market opportunities as well as develops the
opportunity to change and develop at the individual, business and industry/
sector levels.
 It is a business organization that is formed, and which provides goods and
services, creates jobs, contributes to national income, imports and above all,
sustainable economic development.

In a more concise or synthetic way, an enterprise is a business venture. Entrepreneur

is nothing else than the person who starts an enterprise. The process of creation,
including originality, capabilities, skills and difficulties is called Entrepreneurship.
The entrepreneur is the actor and entrepreneurship is the act, and the economic
world is the scene, in a period of crisis or during an economic boom, all these periods

5
City of Good Character
DISCIPLINE • GOOD TASTE • EXCELLENCE
delimiting a continuous cyclical evolution as plays. And finally, to close the circle the
outcome of the actor and the act is defined as the enterprise.

Entrepreneur Entrepreneurship Enterprise

Person Process or Philosophy Object

Misconceptions of Entrepreneurship

1. Entrepreneurship applies only to manufacturing business

It is a misconception that entrepreneurship is only applicable to manufacturing

but not to merchandising and service. It should be remembered that
merchandising and providing services are also of business ventures. Creativity
and innovation appear limited in merchandising because there is no
transformation in the appearance and content of the product.

2. Entrepreneurship applies only to small business

Entrepreneurial concepts and principles and principles do not make any

distinction as to the size of the business venture. The amount of business capital
does not serve as a reckoning ground for classifying whether the venture is
operating within the concept of entrepreneurship or ordinary small business. The
concepts of and principles are applicable to all types of businesses regardless of
their sizes.

3. Entrepreneurship applies mostly to persons with good educational

background in business courses.

Nobody is born an entrepreneur. To become successful entrepreneur, you must

know the basic concepts and principles of entrepreneurship and apply them
properly to your chosen business. The environment in which your business
operates also contributes to its success. The practice of entrepreneurship does
not even require any entrance examination in business courses. Successful
entrepreneur come from all walks of life and have different educational
backgrounds from different colleges and universities in the country. It is your
inner driving force that carries you towards becoming a dynamic entrepreneur.
3. Entrepreneurship applies only to a good economy

An entrepreneur finds business opportunities in both flourishing and distressed

economies. Entrepreneurship can exist in both and bad economies. During
financial crackdown, new idea can be created and new business opportunities
can be identified. The bad economy does not completely serve as a constraint to
the continuation of entrepreneurial ventures and even the creation of new ones.

4. Entrepreneurship is simply opening a small business.

Entrepreneurship does not merely mean opening a small business. This is simply
the first step in actualizing the entrepreneurial venture. The business must have
already passed through the preliminary stages of scanning the environment and
preparation of the feasibility study and business plan. Entrepreneurship does not
start and end with opening a small business. It’s a long, continuing process.

6
City of Good Character
DISCIPLINE • GOOD TASTE • EXCELLENCE
The Truths about Entrepreneurship

1. Entrepreneurship is not reserved for startups.

2. Entrepreneurs do not have a special set of personality traits.
3. Entrepreneurship can be taught (it’s a method that requires practice).
4. Entrepreneurs are not extreme risk takers.
5. Entrepreneurs collaborate more than they compete.
6. Entrepreneurs act more than they plan.
7. Entrepreneurship is a life skill.

Compounded benefits of Entrepreneurship

1. Importance to the Filipino people

 It provides guidelines in their wealth-creating ventures.
 It helps improve their financial and social life.
 It helps broaden their creativity.
 It helps make their lives happy, fruitful, and successful.

2. Importance to the Local Community

 It provides employment in the community.
 It creates new demand in the market.
 It makes substantial contribution to the raising and collection of taxes.
 It facilitates the movement of the factors of production.
 It creates new business opportunities.
 It promotes a peaceful and loving community.
 It increases constructive competition.

3. Importance to the Philippine Economy

 It encourages competitiveness and thereby challenges entrepreneurs to
keep improving their products and services.
 It helps find an entrepreneurial niche in the world market.
 It helps hasten the economic recovery process of the Philippines during
financial turmoil or crackdown.
 It facilitates the smooth flow of money in the local market.
 It assists the national government in its desire to have a favorable economic
rating in the world market.

Relevance of Entrepreneurship to SHS Students:

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.

7
City of Good Character
DISCIPLINE • GOOD TASTE • EXCELLENCE
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.
9. Creation of entrepreneurial thinkers who also have the skills and tools to start
their own businesses.
10. Students will also learn to:

a) Write a business plan.

b) Apply economic principles.
c) Determine individual entrepreneurial interests
d) Apply basic marketing skills.
e) Use strategies for idea generation.
f) Assess feasibility of ideas.
g) Manage risk.
h) Identify legitimate sources of capital.
i) Evaluate ownership structures.
j) Translate problems into opportunities.
k) Apply principles of human relations management.
l) Speak "business" & "entrepreneurship".
m) Apply basic accounting principles.
n) Engage in ethical business practices.
o) Demonstrate financial management

What makes a Successful Entrepreneur?

1. The urge for achievement (most often monetary ambitions) – Most Important
2. Willingness to take moderate risks – (High risk takers are not entrepreneurs
but gamblers).
3. Determination to win
4. Win– Win Personality
5. Ability to identify & explore opportunities
6. Analytical ability to take strategic decisions
7. Perseverance 8. Flexibility
8. Capacity to plan and organize
9. Preparedness to undergo physical and emotional stress
10. Positive self-concept/Self-belief
11. Future orientation – Vision
12. Ethics and Values – Mission

Who can be an Entrepreneur?

1. Who feels the need for achievement

2. Who can take moderate risks
3. Who possess skills in organizing
4. Who can capitalize on opportunities
5. Who has some financial strength – On his own or borrowed
6. Who has ability to work hard
7. Who has desire for responsibility

8
City of Good Character
DISCIPLINE • GOOD TASTE • EXCELLENCE
 8. Who has a clear perception of probability of success
9. Who gets stimulation by feedback
10. Anyone – He can be male, female or even a Eunuch
11. Who does not have previous experience

Give what is asked in the items below and explain it briefly in your own words.
Write your answer in a separate sheet of paper.

Compounded benefits of Explanation:

Entrepreneurship

Importance to the Filipino people

1.
2.
Importance to the local community
1.
2.
Importance to the Philippine economy
1.
2.
Relevance of Entrepreneurship to
SHS students
1.
2.
3.
4.
5.
6.

9
City of Good Character
DISCIPLINE • GOOD TASTE • EXCELLENCE
 You have fill in the graphic organizer chart to generalize the thing you have
learned about the topic. Write your answers in a separate bond paper.

Briefly answer the following questions. Write your answers in the spaces provided.

1. Why learn entrepreneurial principles to become a successful entrepreneur?

Create your own principle. Explain your answer.

___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________

2. As becoming an entrepreneur, what appropriate product and/or business that

can be conceptualized during this COVID-19 pandemic? What are your
primary considerations for choosing a particular product and/or business?

10
City of Good Character
DISCIPLINE • GOOD TASTE • EXCELLENCE
 Make a list of your selection criteria, and what you think are important to you
in identifying what business to start up with.

___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________

3. As a future entrepreneur, what are some of the factors that would encourage
you to start your business in your community? Are there any changes that
you would want to make to foster more entrepreneurial growth in the area?
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________

Your output will be rated by using the scoring rubric below:

AREAS OF (2) (3) (4) (5)

ASSESSMENT UNSATISFACTORY NEEDS SATISFACTORY OUTSTANDING
IMPROVEMENT
Content and Content is Major points Major points Major points
Development incomplete or not are addressed are stated are stated
clear but not well clearly and are
supported well supported

Fill in the blanks by choosing the CORRECT word/phrase in the box.

advocates entrepreneurial activities self-confident

correctly practices entrepreneurial opportunities small-scale industries
creative entrepreneurial principles socioeconomic
economic growth initiative standards of living
entrepreneur real world talents and skill

1. Entrepreneurship develops _______________ and helps to be more

_______________ and _______________ in whatever they undertake and to act in
a socially responsible way.
2. An entrepreneur is a person who strongly _________________ and
________________ the concept of entrepreneurship.
3. The 1987 Philippine Constitution recognizes entrepreneurship as an engine of
_____________________.

11
City of Good Character
DISCIPLINE • GOOD TASTE • EXCELLENCE
4. An __________________ is the one who always searches for change, responds to
it and exploits it as an opportunity.
5. Entrepreneurship education aids students from all _________________
backgrounds to think outside the box and nurture unconventional
______________________________ .
6. The notion of the entrepreneur as simply one who forms and manages business
is apparent in government programs that attempt to develop
__________________________________ .
7. Entrepreneurship is important as it has the ability to improve
_______________________________ and create wealth.
8. Acquiring sufficient knowledge of ____________________________ equips you with
necessary tools in handling and maximizing
__________________________________.
9. Students have to be exposed to ______________ examples and learn from their
own experience.
10. Enterprise is where ______________________ are being exhibited.

OFFLINE ACTIVITY

 Your module will serve as your reference.

 Make a list of at least 10 unfamiliar words that you encounter on your previous
lessons in the Relevance of Entrepreneurship and try to find its meaning.
 Arrange the words alphabetically
 Write it in the following format.

Unfamiliar words Meaning

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.

Write letter E if it describes Entrepreneur and write letter B if it is BUSINESSMAN.

Write your answer on the space provided before the number.
____ 1. Starts new idea. ____ 6. Very high competition
____ 2. Creates place in existing markets. ____ 7. People-oriented
____ 3. Comparatively high risk ____ 8. Market leader

12
City of Good Character
DISCIPLINE • GOOD TASTE • EXCELLENCE
____ 4. Intuitive ____ 9. Conventional
____ 5. Less risk ____ 10. Low competition

Book

Aduana, Nick L. Entrepreneurship in Philippine Setting for Senior High School, 2017,
C & E Publishing Inc., Quezon City

Online Source

https://openpress.usask.ca/entrepreneurshipandinnovationtoolkit/chapter/chapt
er-1-introduction-to-entrepreneurship/
https://www.manilastandard.net/magsaysay-reveals-success-formula-of-potato-
corner

https://www.investopedia.com/articles/personal-finance/101414/why-
entrepreneurs-are-important-economy.asp

https://www.europeanentrepreneurship.com

https://www.coursehero.com
https://www.startupskw.com

13
City of Good Character
DISCIPLINE • GOOD TASTE • EXCELLENCE
 Development Team of the Module

Writers: Sheila Mae A. Malesido MBA, LPT (SEHS)

Richelle C. Requinala MBA, LPT (CIS)
Internal Reviewers: Emily G. Santos (PSDS), Dunhill Jan E. Elmido (NHS),
Eva Montana (MHS), Sylvette G. Sabaupan (NHS)
External Reviewer: Kervin Rey G. Torente, Ateneo De Manila University
Cover Illustrator/ Layout Artist: Sheila Mae A. Malesido MBA, LPT (SEHS)

Management Team:
Sheryll T. Gayola
Assistant Schools Division Superintendent
OIC, Office of the Schools Division Superintendent

Elisa O. Cerveza
Chief, Curriculum Implementation Division
OIC, Office of the Assistant Schools Division Superintendent

Emily G. Santos
Public Schools District Supervisor

Ivy Coney A. Gamatero

EPS– Learning Resource Management and Development System

For inquiries or feedback, please write or call:

Schools Division Office- Marikina City

Email Address: sdo.marikina@deped.gov.ph

191 Shoe Ave., Sta. Elena, Marikina City, 1800, Philippines

Telefax: (02) 682-2472 / 682-3989