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ENTREPRENEURSHIP
LEARNER'S ACTIVITY SHEET
Quarter 3 – Week 1-2:
Relevance of entrepreneurship
ENTREPRENEURSHIP – Grade 11
Learner's Activity Sheet
Quarter 3 – Week 1-2: Relevance of entrepreneurship
First Edition, 2021

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LEARNER’S ACTIVITY SHEET IN ENTREPRENEURSHIP

FOR 2nd Semester – QUARTER 3, WEEK1 AND 2

Name: _______________________________________ Grade & Section: _______________________

School: ______________________________________ Teacher: ________________________________

Competencies: Relevance of entrepreneurship

Learning Objectives:
1. Define the terms entrepreneurship and entrepreneur.
2. Respond to questions asked.
3. Demonstrate interest on entrepreneurship in everyday
life and to the society as a whole.

I. Explore
Directions: Write TRUE if the statement is correct and write
FALSE if the statement is incorrect. Write it on the space
provided.

_____ 1. Business plays an important role in economy.

_____ 2. Lifestyles of society depend on the status of economy.
_____ 3. Selling is not a form entrepreneurship.
_____ 4. Entrepreneur is the owner of the business.
_____ 5. Problems of economy are nature as natural.
_____ 6. Entrepreneurship is relevant to your education.
_____ 7. Entrepreneurs must have characteristics of winning all
games in the market place.
_____ 8. People will always be happy if we all have greatness in the
world.
_____ 9. Entrepreneurship is complex.
_____10. Small and medium enterprises are not under entrepreneurial
world.
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II. Learn

What is it?
Meaning of Entrepreneurship and Entrepreneur

Entrepreneurship

It is a proactive process of developing a profit-making business

venture. It involves searching for market opportunities, establishing
and operating a business out of the opportunity, and assessing its risks
and rewards by closely monitoring the operations. The creation of a
sound business plan, together with the efficient and effective operation
of the business will benefit not only the entrepreneur but the whole
society and the economy as well.

An activity that includes the discovery, evaluation, and

exploitation of opportunities to introduce new goods and services.
Having profited from bearing uncertainty and risk (Knight 1921, 3)
Capacity for innovation, investment, and expansion in new markets,
products, and techniques. (Fajardo, 1994, 4) The opportunity to know
what goods and services people need and to be able to deliver them at
the right time, in the right place, at the right price for the right people.

This is an act of creating a business or businesses while building

and scaling it to generate a profit. It is an important driver of economic
growth and innovation. What people do to take their career and dreams
into their hands and lead it in the direction of their own choice? It is
about building a life on your own terms. No bosses! No restricting
schedules! And no one holds you back! (Batalla 2011).

Although each of these definition views entrepreneurship from a

slightly different perspective, they all contain the following Common
Elements: (Aduana, 2019, 4)
 Innovation – The process of bringing to an organization new
concepts, technologies, or methods. This may mean creating a
new service, system, or process, or improving existing ones.
 Opportunity seeking and Exploitation - The ongoing process of
considering, evaluating, and pursuing market-based activities
that are believed to be advantageous for the firm. Example: Lend
money, good location.
 Resource mobilizing - refers to all activities involved in securing
new and
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additional resources for your organization. It also involves

making better use of existing resources and maximizing them.
Resource mobilization is often referred to as 'New Business
Development’. Example: investment

 Encountering risk and uncertainties – Entrepreneurs live with

uncertainty and risk. They have no choice. The future depends
on them. They are responsible for their success and failures and
never endures success. Entrepreneurs Example: required hiring
more must also learn to manage the pressure and uncertainty of
having to assume responsibility for their business
and their employees, purchasing more equipment, investing more
money, and decision-making.

 Economic and personal rewards – Example: Money, Benefits,

and Perks

Who is an Entrepreneur?

The term “entrepreneur” has a French source and was coined

from the words entre, which means “between,” and prendre, which
means, “to take.” An entrepreneur is a unique individual with the innate
ability and extraordinary dedication to establish and manage a
business, recognizing all the risks, and reaping their rewards. It is not
a career that anyone will simply jump into after you plan to do so. It
needs a diverse business experience to be called one, ranging from
advertising and marketing knowledge to versatility in operations, and
financial skills.

“Someone who recognizes opportunities, strategies, mobilizes

resources, manages, and accepts the risks of a business to have a
positive impact on society.”

The person behind the entrepreneurship, having certain characteristics

and diverse traits that make him unique. Entrepreneurs do create
value in expanding the scope of their market and product creation.

A person who sets up a business with the aim of making a profit

and creating a new business, bearing most of the risks and enjoying
most of the rewards. An innovator, a source of new ideas, goods,
services, and business/or procedures. Playing a key role in any
economy, using the skills and initiative necessary to anticipate needs
and bring good new ideas to market (Batalla 2011).
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Importance of Entrepreneurship

1. Entrepreneurship generates new wealth in an economy.

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

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 analyse 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.
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III. Engage

What I Learned

Directions: Match column A with column B. Write the term referred to

on your notebook.

1. It involves developing new products or improving

existing technologies, processes, designs and
marketing to solve problems, increase efficiency, A. Livelihood
reach new customers, and ultimately increase
profits.
2. Involves sale or lease of any product, service,
equipment, etc. that will enable the purchaser- B. Entrepreneurship
licensee to begin a business.
3. Refers to the act of creating a business or
businesses while building and scaling it to generate C. Social change
a profit.
4. Refers to their "means of securing the basic
necessities (food, water, shelter and clothing) of D. Socio-economic
life".
5. The system of production, distribution and
E. Business
consumption. The overall measure of a currency
opportunity
system; as the national economy.
6. Is a person who sets up a business with the aim
F. Business venture
to make a profit?
7. Refers to any significant alteration over time in G. Relevance
behaviour patterns and cultural values and norms.
8. Related to the differences between groups of H. Business
people caused mainly by their financial situation. innovation
9. It is a new business that is formed
with a plan and expectation that
Financial gain will follow. It is usually
I. entrepreneur
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 J. Economy
"relevant," which means "important to the matter at
hand."
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IV. Apply

What I Can Do

Directions: Accomplish the table by identifying at least 3 successful

entrepreneurs in your locality. Indicate what they are selling in the
market. Write 2-3 sentences to describe how they succeed in the
business.

Successful Product they are What made them succeed

Entrepreneurs Selling in their business

V. Post Test
Multiple Choice.

Directions: Read and answer each statement carefully then write

the letter of the best answer on your notebook.

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, instils
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. It refers to a person who sets up a business with the aim of
making a profit.
D. The act of creating a business or businesses while building
and scaling it to generate a profit.
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3. Which of the following has relevance of Entrepreneurship to SHS

Grade 11 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. Entrepreneurs are people who can secure resources such as
technology and information to gain distinct, sustainable,
competitive advantages.
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 C. Collaborative
B. Impulsive D. Creative
6. What is the most common reason given to people who choose to
become entrepreneurs?
A. To make a lot of money.
B. To escape the long hours associated with corporate jobs.
C. To be their own boss.
D. To be able to retire early.
7. All of the following are characteristics shared by successful
entrepreneur EXCEPT:
A. Passion C. Risk averse
B. Product/customer focus. D. Tenacity despite failures
8. Which of the following is NOT a common myth about
entrepreneurs?
A. Everyone has the potential to be an entrepreneur.
B. Entrepreneurs are born, not made.
C. Entrepreneurs are gamblers.
D. Entrepreneurs love the spotlight.10
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9. Influence on innovation and job creation best typifies entrepreneurial

Firms _________.
A. Impact on society C. Economic impact
B. Impact on larger business D. Impact on the Government

Directions: Put √ if the statement is true and put × if the statement

is false, write it on the space provided.

_____10. Entrepreneur and inventor mean essentially the same thing.

_____11. Entrepreneurial businesses include retailing, such as clothing
and furniture stores, but do not include service businesses.
_____ 12. Entrepreneurship only pertains to starting new business, not
existing firms.
_____ 13. The average entrepreneur does NOT make more money than
someone with a similar amount of responsibility in a
traditional job.
_____ 14. The number one characteristic shared by successful
entrepreneurs is creativity.
_____ 15. After winning a medal for diving in Olympics, Cheryl starts a
diving instruction school. This is an example of a lifestyle firm.