Entrepreneurship 12

Quarter 1- Week 1

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Norhen Marie Albina Strand: ___________________
Contact No. 0906-772-3480
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INTRODUCTION OF ENTREPRENEURSHIP
Learning Competencies

• Discuss the relevance of the course;

• Explain the core competencies in Entrepreneurship

To the Learners:

Before starting the module, set aside other tasks that will disturb you while
enjoying the lessons. Read the simple instructions below to successfully enjoy the
objectives of this self-learning kit. Have fun!

1. Follow carefully all the contents and instructions indicated in every page of this
module.
2. Write on your notebook the concepts about the lessons. Writing enhances
learning that is important to develop and keep in mind.
3. Perform all the provided activities in the module.
4. Analyze conceptually the activities given and apply what you have learned.
5. Enjoy studying!
Expectations

This module was designed to help you understand the key concepts, underlying
principles, and core competencies in Entrepreneurship. This module will also help you
creates/provides a quality and marketable product and/or service in Entrepreneurship
as prescribed in the TESDA Training Regulation.

After going through this module, you are expected to

a. understand the relevance of the course;

b. identify the basic concepts and characteristics of entrepreneurship; and
c. explore job opportunities for entrepreneurship.

Lesson 1: Importance of Entrepreneurship

At the end of this lesson, student will be able to:
1. Explain the concept of entrepreneurship;
2. Describe the essential qualities of a successful entrepreneur;
3. Recognize the importance of being an entrepreneur;

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 The activity of setting up a business or
businesses, taking on financial risk in the hope of
profit is called entrepreneurship (Oxford Dictionaries).
It is an act of being an entrepreneur which defines as
a person who organizes and operates a business or
businesses, taking on greater than normal financial
risk to do so. It can also be defined as “one who
https://spectrumdigitalinfocom.com/entrepreneurship-training-in-coimbatore/

undertakes innovations, finance and business

acumen in an effort to transform innovations into
economic goods”.
This makes form part of creating a new business opportunity that they willingly
undertake conception, organization, and management of a productive activity with all
the possibility of taking risk and seeks profit as compensation. As an entrepreneur you
must be a creative innovator who accepts risk in losing profit by investing your capital.

He should know how to generate business and job opportunity, easy to think of a solution
and know how to value its customers. As an entrepreneur you need to possess some
qualities to be successful. Let us now know about the qualities of a successful
entrepreneur. There may be many qualities needed to successfully run an enterprise.
However, the following qualities are considered important.

Entrepreneurship teaches us to...

➢ creates opportunity
➢ ensures social justice
➢ instills confidence
➢ stimulates the economy
➢ take risks
➢ fail and to persevere
➢ become creative, inventive and innovative

Entrepreneurship Source:https://sankarray.in/2019/09/03/incongruity-between-graduate-skills-and-industry-needs-way-to-resonance-in-skilling- india/

➢ It is a philosophy or process through which an entrepreneur seeks

innovation and employment.

Entrepreneur Entrepreneurship Enterprise

Person Process or Philosophy Object

Entre – enter Pre – before Neur – Nerve Centre

❖ Entrepreneurship can be described as a creative and innovative response to the
environment.

What Makes Someone an Entrepreneur?

Personal Attributes

Creativity is the spark that drives the development of new products or services or
ways to do business. It is the push for innovation and improvement.
Dedication is what motivates the entrepreneur to work hard. Planning of ideas
must be joined by hard work to succeed.
Determination is the extremely strong desire to achieve success. It includes
persistence and the ability to bounce back after rough times.
Flexibility is the ability to move quickly in response to changing market needs. It
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 is being true to a dream while also being mindful of market realities.
Leadership is the ability to create rules and to set goals.
Passion is what gets entrepreneurs started and keeps them there.
Self-confidence comes from thorough planning, which reduces uncertainty and
the level of risk.
“Smarts” consists of common sense joined with knowledge or experience in a
related business or endeavor

ENTREPRENEUR

❖ An entrepreneur is a person who organizes a venture to benefit from an

opportunity, rather than working as an employee.
o Entrepreneurs play a key role in any economy. These are the people who have
the skills and initiative necessary to anticipate current and future needs and bring
good new ideas to market.

Entrepreneurial competencies refer to the characteristics of an

entrepreneur. It requires certain qualities or characteristics for
establishing and running a business enterprise.

https://www.pngguru.com/search?png=entrepreneurship

Activity #1 (*Please use another sheet of paper for your answers)

A. Check your understanding!

What Makes Someone an Entrepreneur? Write the correct personal attributes
in each given description below.

1. is what gets entrepreneurs started and keeps them

there.
2. is the spark that drives the development of new products or
services or ways to do business. It is the push for innovation and improvement.
3. consists of common sense joined with knowledge or
experience in a related business or endeavor.
4. is the ability to create rules and to set goals.
5. comes from thorough planning, which reduces uncertainty
and the level of risk.
6. is the ability to move quickly in response to changing
market needs.
7. is what motivates the entrepreneur to work hard. Planning of
ideas must be joined by hard work to succeed.
8. is the extremely strong desire to achieve success. It includes
persistence and the ability to bounce back after rough times.

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B. Definition:
Define the following terminologies:
1. Entrepreneurship
2. Entrepreneur
C. Explanation
1. Why do we need to study entrepreneurship?
2. How does entrepreneurship affect us?
3. In your own words, explain the different personal attributes you need to acquire
to become a successful entrepreneur.
Activity#2: *Please use another sheet of paper

❑ Think of as many ideas for a business as you can and write them down.

❑ From your list, select three ideas that you believe represent the best
opportunities.

Thank You and Enjoy Studying!

References:
Cover Page Source:https://www.netclipart.com/isee/TTRhmx_tips-to-become-a-successful-entrepreneur-
entrepreneurship-logo/ https://www. entrepreneurship-introduction-part-3-core-competencies