Entrepreneurship

Quarter 1 – Module 1:
Introduction to Entrepreneurship
Entrepreneurship – Grade 12
Alternative Delivery Mode
Quarter 1 – Module 1: Introduction to Entrepreneurship
First Edition, 2020

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 Entrepreneurship
Quarter 1 – Module 1:
Introduction to Entrepreneurship
Introductory Message
For the facilitator:

Welcome to the Entrepreneurship – Grade 12 Alternative Delivery Mode (ADM)

Module on Introduction to Entrepreneurship!

This module was collaboratively designed, developed and reviewed by

educators both from public and private institutions to assist you, the teacher or
facilitator in helping the learners meet the standards set by the K to 12 Curriculum
while overcoming their personal, social, and economic constraints in schooling.

This learning resource hopes to engage the learners into guided and
independent learning activities at their own pace and time. Furthermore, this also
aims to help learners acquire the needed 21st century skills while taking into
consideration their needs and circumstances.

In addition to the material in the main text, you will also see this box in the
body of the module:

Notes to the Teacher

This contains helpful tips or strategies that
will help you in guiding the learners.

As a facilitator, you are expected to orient the learners on how to use this
module. You also need to keep track of the learners' progress while allowing them to
manage their own learning. Furthermore, you are expected to encourage and assist
the learners as they do the tasks included in the module.

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For the learner:

Welcome to the Entrepreneurship – Grade 12 Alternative Delivery Mode (ADM)

Module on Introduction to Entrepreneurship!

The hand is one of the most symbolized part of the human body. It is often
used to depict skill, action and purpose. Through our hands we may learn, create
and accomplish. Hence, the hand in this learning resource signifies that you as a
learner is capable and empowered to successfully achieve the relevant competencies
and skills at your own pace and time. Your academic success lies in your own hands!

This module was designed to provide you with fun and meaningful
opportunities for guided and independent learning at your own pace and time. You
will be enabled to process the contents of the learning resource while being an active
learner.

This module has the following parts and corresponding icons:

What I Need to Know This will give you an idea of the skills or
competencies you are expected to learn in the
module.

What I Know This part includes an activity that aims to

check what you already know about the
lesson to take. If you get all the answers
correct (100%), you may decide to skip this
module.

What’s In This is a brief drill or review to help you link

the current lesson with the previous one.

What’s New In this portion, the new lesson will be

introduced to you in various ways such as a
story, a song, a poem, a problem opener, an
activity or a situation.

What is It This section provides a brief discussion of the

lesson. This aims to help you discover and
understand new concepts and skills.

What’s More This comprises activities for independent

practice to solidify your understanding and
skills of the topic. You may check the
answers to the exercises using the Answer
Key at the end of the module.

What I Have Learned This includes questions or blank

sentence/paragraph to be filled in to process
what you learned from the lesson.

What I Can Do This section provides an activity which will

help you transfer your new knowledge or skill
into real life situations or concerns.

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 Assessment This is a task which aims to evaluate your
level of mastery in achieving the learning
competency.

Additional Activities In this portion, another activity will be given

to you to enrich your knowledge or skill of the
lesson learned. This also tends retention of
learned concepts.

Answer Key This contains answers to all activities in the

module.

At the end of this module you will also find:

References This is a list of all sources used in developing

this module.

The following are some reminders in using this module:

1. Use the module with care. Do not put unnecessary mark/s on any part of the
module. Use a separate sheet of paper in answering the exercises.
2. Don’t forget to answer What I Know before moving on to the other activities
included in the module.
3. Read the instruction carefully before doing each task.
4. Observe honesty and integrity in doing the tasks and checking your answers.
5. Finish the task at hand before proceeding to the next.
6. Return this module to your teacher/facilitator once you are through with it.
If you encounter any difficulty in answering the tasks in this module, do not
hesitate to consult your teacher or facilitator. Always bear in mind that you are
not alone.

We hope that through this material, you will experience meaningful learning
and gain deep understanding of the relevant competencies. You can do it!

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 What I Need to Know

This module was designed and written to help you understand the key
concepts, underlying principles, and core competencies in Entrepreneurship.

At the end of this module, you are expected to:

a. identify the relevance of learning Entrepreneurship;

b. define personal entrepreneurial competencies and skills; and

c. explore job opportunities for Entrepreneurship as a career.

What I Know

A. Read and answer each question by writing the letter that corresponds to
your answer in your notebook.
1. Which among the following benefit from entrepreneurship?
a. Filipino entrepreneurs c. Philippine economy
b. local community d. all of the above
2. Which of the following does not define entrepreneurship?
a. art c. wealth creating
b. science d. risk taking
3. Which of the following first benefit from entrepreneurship?
a. Filipino entrepreneurs c. Philippine economy
b. local community d. all of the above
4. Which of the following is not true about the benefit of entrepreneurship to the
local community?
a. It provides employment.
b. It creates new demand in the market.
c. It promotes peaceful community.
d. It hastens economic failure.
5. Which is the end result of paying taxes?
a. It burdens small scale entrepreneurs.
b. It promotes competition among business ventures.
c. It causes the increase on prices of raw materials.
d. It returns to the citizens through different public services.

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6. How does an entrepreneur create value for his/her products or services?
a. by increasing the price of the product or service.
b. by giving products and service for free to those who are in need.
c. by satisfying the needs and wants of the customers.
d. by focusing on product packaging.
7. Which of the following will be an entrepreneur's reaction to risk?
a. Avoid the risk.
b. Face the risk.
c. Pause and wait for the problem to solve itself before continuing
operations.
d. Invest on other products or services.
8. Which of the following shows intrapreneurship?
a. production or modification of new products or services
b. managing one's own business
c. creating product value
d. leaving the management of the business to other people for the benefit
of the owner

9. Which is NOT an advantage of learning intrapreneurship?

a. It cultivates creativity.
b. It increases the risk in starting a business.
c. It boosts young entrepreneurs in starting their own business venture.
d. It helps acquire core business concepts.

B. Match the following entrepreneurial skills/competencies in column A with its

definition in column B. Write the letter that corresponds to your answer in your
notebook.

A B

10. hardworking a. solid dedication

11. creative b. strategic thinking
12. disciplined c. wise judgement
13. committed d. always looking for something new
14. planning e. working diligently
15. decision making f. belief in oneself
g. urge to fight temptation

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 Lesson
Introduction to
1 Entrepreneurship
As a senior high school student, each one of you has a specific road to take
characterized by the strand you selected based on your individual inclinations.
However, any skill can be enhanced if you have the will to acquire new learnings.
This “new normal” brings out the worst and best in us and we cannot predict what
the future holds. Thus, being creative and innovative is significant to get along with
the 21st century and studying Entrepreneurship is an excellent foundation in
developing these skills.

What’s In

Share your experience by writing a short essay on any business venture had
before. Use the following guide questions.

1. What particular product/service did you offer?

2. What was your reason in choosing the business venture you were into?
3. What were the challenges or problems you encountered during the business
implementation?
4. What are the key learnings you had from your business experience?
5. Given the opportunity, are you going to engage into another business venture?

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 What’s New

I believe you heard at least a version of the race story of "The Turtle and the
Rabbit" Now you will read a new version of the story. Focus on each twist in the story
and answer the questions that follow.

Long long time ago, a rabbit and a turtle argued

on who is faster between them. Nobody wanted to be
the inferior one so they agreed to have a race to settle
the issue. They agreed on a route and started running.
The rabbit ran fast and had a huge advantage. After
few moments, he paused and checked where his
opponent was. He was far from the turtle that he can’t
even see him from his position. He decided to rest under a tree but unfortunately fell
asleep. The turtle kept on walking, and passed by the rabbit. He reached the finish
line even before rabbit woke up. The turtle won the race.

The rabbit was so disappointed with himself. He

now realized that with the ability he possessed, there
is no chance that the turtle will beat him. So he
challenged the turtle again to for a second round. As
the go signal was given, the rabbit ran with all his
might without stopping. This time, he won the race.

The turtle did some thinking about what

happened. He knew that there is a zero chance for him
to beat the rabbit with the route that they formatted
for the race. He challenged the rabbit for a third round
but he would be the one to decide on the route that
they would take.
Without hesitation, the
rabbit agreed. The rabbit ran confidently, until he
reached a river. He can’t swim and the finish line is at
the other side of the river. While he was thinking of
what to do, the turtle came. The turtle swam to the
opposite bank, continued walking until he reached the
finish line. The turtle again won the third race.

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 After three rounds of challenging each other, the two became friends and they
both realized that the outcome of the race could have been much better if they will
run together. So, they decided to have a final race together. The rabbit carried the
turtle on his back on the first lap, then, the turtle carried the rabbit on his back as
they pass through the river. On the final phase, the rabbit again carried the turtle
towards the finish line. They were very happy when they reached it and felt more
victorious that they had in the previous races they ran individually. That was how
the story ended.

Answer the following:

1. What is the ending of the first chapter of the story? Is it the same as what
you've heard before?

2. What happened in each succeeding chapter of the story?

3. Do you think the turtle was wise enough on his decision on the third round?

4. Which part of the story had an impact on you?

5. What is the moral of the story? What have you realized after reading the
story?

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 What is It

In the story, it is worthwhile to take it from the turtle’s technique. Each one
of us has a competency that we can use as our advantage. A thorough discussion of
what these competencies are will be discussed in this module. But first, let us define
an entrepreneur.

The term entrepreneur was derived from “entreprendre”, a French word

which means “to undertake” (Aduana, 2016). Entrepreneurs are innovative
opportunity seekers. They create value by introducing new products or services or
finding better ways of making them. They are not the same with ordinary
businessmen whose major goal is to gain profit by producing, buying, and selling of
products.

On the other hand, the term entrepreneurship is an 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, 2016).

Why do we need to study Entrepreneurship? It is a common thinking among

Filipinos to study hard, finish a degree and get a good-paying job. Whether it is after
SHS or after college, there is no harm in aiming to get a diploma, but the
opportunities offered by learning Entrepreneurship cannot be undermined.

Five Salient Features of Entrepreneurship (Aduana, 2016)

1. Art of Correct Practices

Entrepreneurship is an art and not a science thus, there is a

constant change; it continuously grows, develops, improves and expands. As
an art, it is closely related to creativity that contributes to the enhancement
of the enterprise. Entrepreneurship education teaches how failure makes
people more creative and innovative.

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 The current situation we are in gave birth to many opportunities. Food
businesses that used to be for dine-in purposes only evolved into food
service deliveries and DIY (Do IT Yourself) food kits to name a few.

2. Wealth creating venture

How are you going to define wealth? Although profit is a

good indication of wealth, improving the life of an entrepreneur in terms of
economic, financial, social, moral and psychological aspects are also priceless
outcomes of entrepreneurship.

Conscious Canvas PH creates lovely and well-crafted tote bags that are
ideal for everyday use made by persons with disabilities (PWDs). What
is commendable with this business venture is that 10% of its profits goes
to para-athletes. More than the profit it brings about, loyalty of its
workers and admiration from other people in the community is the real
return of investment of this venture.

3. Providing values to customers

Products and services are considered valuable when

they satisfy the needs and wants of the customers. It also gives the buyers
reason to purchase your product over and over again and even refer it to
others.

Adding armrests on the chairs of the wooden dining sets will result to
additional materials and time spent on making a product thus increasing
the cost of production. If a customer does not find this necessary, this
product modification will not bring any benefit to the entrepreneur.

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4. Opening and managing self-owned business

Businesses which are managed by other people for the

benefit of the owner falls under intrapreneurship. Entrepreneurship is
different from intrapreneurship. The concept of entrepreneurial endeavor may
range from a small sari-sari store up to multimillion companies as long as the
business is managed by the owner himself.

A cakeshop manager who works for the store owner and receives a
monthly salary cannot be considered an entrepreneur despite that she is
handling a business. All profits go to the owner (who just wait for the
remittance of the sales) himself and the manager is merely an employee.

5. Risk taking venture

Risk is a part of any entrepreneurial endeavor. A

good entrepreneur does not avoid risks, rather face them by analyzing the
risks and good decision-making skills for the survival of the venture.

The pandemic caused many business establishments to cease

operations and this had a huge impact on the sales of business ventures.
Some entrepreneurs resort to online selling of their products as to not
fully stop their ventures and have an alternative way of gaining profit
during this situation.

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 Entrepreneurship affects the lives of the Filipinos, the local community, and
the Philippine economy in one way or another. The diagram below shows the flow of
entrepreneurial benefits.

As shown in the diagram, the first to benefit from entrepreneurship are the
Filipino entrepreneurs or the people who are directly involved with the venture. These
benefits will then be extended to the local community where the entrepreneur
performs his business. The benefits the community received will transcend to the
national economy which in turn will be given back to the Filipinos and the
community.

According to Aduana (2016), entrepreneurship makes the following contributions

to the lives of the Filipinos, the local community and the Philippine economy:

To the Filipinos:

1. It gives guidelines in the entrepreneur’s wealth creating undertakings.

2. It aids in improving financial and social life.

3. It helps expand their creativity.

4. It brings about happiness, productiveness and success in entrepreneur’s

life.

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To the Local Community:

1. It offers opportunity for employment in the community.

2. It produces new demand in the market.

3. It contributes to increase in tax collection.

4. It accelerates the movement of different factors of production.

5. It gives birth to new business opportunities.

6. It promotes a harmonious and loving community.

7. It boosts constructive competition.

To the Philippine Economy

1. It promotes competitiveness, thus challenging entrepreneurs to continue

improving their products and services.

2. It aids in identifying an entrepreneurial niche in the international market.

3. It helps speed up economic recovery process of the country during financial

turmoil or breakdown.

4. It facilitates ease of money flow in the local market.

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 5. It supports the Philippine government in its yearning to have advantageous
economic ratings in the international market.

Read and analyze the given example.

Mr. Juan Dela Cruz, a resident of Bagac, Bataan saw opportunity to sell
cashew products due to the great amount of cashew produced in their
municipality. He started to sell homemade products online and when the
business grew, he decided to put up a physical store for his products.

He applied for a barangay business certificate and Mayor’s Permit and

registered his business name to DTI. He also processed, paid, and complied
with all the documentary requirements and fees in opening a business with BIR.

Since the business grew, he bought equipment and materials to make

the production more efficient from a local supplier. He also hired two workers
from their barangay to have his store fixed to be ready for operations. He also
closed a deal with local cashew farmers in their municipality for the raw
materials for his products. He also hired employees for his business: two for the
production of the products and one saleslady who will take care of the sales in
his store.

At the end of the year, he had earned a good profit enough for him to
purchase a house and lot, but he did not forget to pay the annual income tax to
BIR.

 Mr. Dela Cruz, as the entrepreneur was enriched with properties (house
and lot) because of his business venture.

 The local cashew farmers alongside the employees had a living for
supplying raw materials and working with Mr. Dela Cruz respectively.
The local equipment supplier and the workers hired for fixing the store
also had income.

 The local government collected local taxes from Mr. Delacruz while the
national government, through BIR, collected an annual income tax. The
taxes accumulated by both local and national government will be
utilized for public services such as healthcare, education, security, road
constructions and the like.

Now, back to the story you’ve read, let us discuss significant factors for the
success of an entrepreneur. Personal Entrepreneurial Competencies refer to the
important characteristics that should be possessed by an individual in order to
perform entrepreneurial functions effectively.

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 So, what are these Personal Entrepreneurial Competencies or PEC’s? Let us
explore together and have a peek on success stories of some known entrepreneurs.

1. Hardworking.

Being a hardworker means habitually working diligently for

long period of hours. We have this saying in Filipino, “ginagawang gabi ang
umaga, at umaga ang gabi”

Let us take Henry Sy as an example. He came from a poor family in

China who came to the Philippines to try their luck here. They built a
store but was burnt down during WWII. He saw an opportunity to earn
from selling used combat shoes and goods from American soldiers. He
even worked for 12 hours a day at the age of 12 just to earn for their
family. But all hardwork paid off as we’ve seen on the success of SM
Malls today making their family the wealthiest in the country.

2. Self-confident.

It is also important that as an entrepreneur, one must believe

oneself more than anybody else.

A farmer's son, Diosdado Banatao, grew up in a rural area in Cagayan

Valley. In their place, students usually stop studying after 6th grade but
his father pushed him to continue despite the fact that he needed to be
away from his family. He graduated at Stanford University where at first
he felt inferior with his classmates, thus making him study twice as hard
as the others. He saw an opportunity to develop microchips and started
to build a company but failed. “No one told me I could do it; I have to tell
myself that I could”, he said. So, he tried again and this time, he
succeeded. He invented the first 16-bit chip, the ones that we can find in
most computers today. At present, more compact and higher capacity
processing chips are available but if not for his invention, the world we
know today might be quite different.

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3. Disciplined.

The urge to fight temptation is very important. They said it is easy

to spend money you did not worked hard for. Sometimes, when we start to
earn, we are tempted to buy things that are not really needed. A good
entrepreneur does not ask himself the question, “What will I buy with my
money?” but ask, “Where will I invest my money to earn more money?”
instead.

Founder of Mang Inasal (Mr. Barbeque in Ilonggo), Edgar Sia started at

a parking lot in Iloilo City. His food business was a blast and caught the
attention of Tony Tan Caktiong of Jollibee Food Corporation. Caktiong
bought a portion of Mang Inasal for a total of five billion pesos. Sia,
instead of living a one-day billionaire life, decided to invest his money to
banking and healthcare thus, making him the youngest Filipino
billionaire at the age of 34.

4. Committed.

Commitment is characterized by solid dedication.

Socorro Ramos, the founder of National Bookstore literally showed

commitment by overcoming her relationship challenges to start with.
Business wise, her solid dedication can be seen on how she stood still
despite the challenges their bookstore faced, from typhoon to fire.
Otherwise, we will not be seeing this book and school supplies store
today.

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5. Ability to accept change.

This is synonymous to being openminded or readiness to try

different things or to hear and consider fresh ideas. We often hear this among
networking businesses: “Openminded kaba?”. As said many times, “Change
is the only constant in this world” so they say that “forever does not exist”. In
business world, capitalizing on positive changes will help a business survive
and even prosper.

Let us learn from the founder of our all-time kids-at-heart favorite, “Kung
saan, beeda and saya”, Jollibee! Tony Tan Caktiong, started an ice
cream store in 1975. His store was not generating enough income. So, he
talked to the people and decided to add some to his menu offering based
on their suggestions. And those are the burgers and fries (too many to
mention), that we love today.

6. Creative.

This is what will make you stand out and go over your
competitors. As an entrepreneur, we must look beyond and check what is new,
to stay in the business to have an edge over the other competitors.

Toothpaste used to be on aluminum tubes. Cecilio Kwok Pedro was the

former head of Aluminum Container Inc., which manufactured aluminum
toothpaste containers for Procter and Gamble, Uniliver (used to be
Philippine Refining Company, and Colgate-Palmolive. Eventually, due to
environmental issues, his clients decided to shift to plastic-laminated
containers causing his company to fail and close in 1986. He built
Lamoiyan Corporation and produced similar product with half-price than
that of his competitors. To target the young market, he featured Sesame
Street’s characters on the packaging of his children’s toothpaste
alongside with Filipino-touched Hapee and Kutitap.

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7. Has Initiative.

This is to put oneself in a position where one is personally

is responsible for the failure or success of the business.

Seeing what is needed, Corazon D. Ong who is a dietician by profession,

started preparing “healthier” options for those who cannot avoid having
canned or frozen goods for food. CDO corned beef, CDO Ulam Burger and
others are some of the many offerings of the CDO Foodsphere. Wondering
why it is named CDO? Of course, from its founder’s name! Now what will
you name your product?

8. Profit-oriented.

A good entrepreneur must make sure that the business

will generate income. We do not put up a business just to get tired the whole
day without getting anything in return.

Somehow different from other success stories, John Gokongwei is a “rich-

to-rags-to-riches” He was born from a rich family but when his father
died, so did their business. He worked for his family by peddling
products in the streets. Eventually, he learned trading by boat from
Lucena to Manila by truck. After some time, he realized that importing
brought about high risk and low profitability. Thus, he borrowed Php
500,000 from China Bank in 1957 and began a corn milling industry
named Universal Corn Products, the one known today as Universal
Robina Corporation. He even extended his company into diversified
businesses as to expand his net including Robina Land Corporation and
Cebu Pacific.

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 Aside from these competencies, there are also significant skills that an
entrepreneur must possess. They are as follows:

Important Skills of an Entrepreneur

1. Planning.

This is strategic thinking and setting of goals to

achieve objectives by carefully maximizing all the available resources.

Gregorio Sanchez who was a provincial boar member in Cebu observed

that the pigs sold in the market are malnourished. He wanted to improve
the quality of the livestock, so he decided to identify the cause by
conducting experiments using only pans and pots he has at home. After
several failures, he finally found out that bad bacteria caused the
problem. This led to the development of LactoPAFI probiotic bacteria that
soon was known not only in their province but also nationwide and even
worldwide.

2. Decision Making.

One decision may make or break a business, thus making

this a crucial one. It is the ability to think quickly and make a wise judgment
towards the pre-determined set objectives.

Manuel “Manny” Villar for instance will not have the Vista Malls and
Camella Homes we have today if he did not make wise judgments on his
endeavors as a businessman. He applied for bank loans and made the
right decisions on where and when to invest, making him one of the
wealthiest Filipinos today.

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 3. People Skills.

Doing business is not a one-man team endeavor. From

people working for you and with you, to those you make deal with and even
your competitors. In relation to the story we’ve read, it is good to be
individually brilliant but still, there are things that others can do better than
you.

Many successful entrepreneurs know how to show their gratefulness

for the blessings they have received by being blessings to others. Diosdado
Banatao and PhilDev offer scholarships to poor yet deserving students so that
they do not have to stop studying; Tony Tan Caktiong and Busog Lusog Talino
which focused on meeting the nutritional needs of public-school students; and
many others.

Cecilio Kwok Pedro is not different to these entrepreneurs, because he

decided to choose hearing impaired to work for his company. This gave the deaf-
mutes an opportunity to earn, and in return Cecilio gained their utmost respect
and gratitude. This inspired his workers to do their best and at the same time,
inspired not only fellow Filipinos but other nationalities as well.

Now, can you see yourself as one of these entrepreneurs? What will be the
possible ways on how you can start your road to millions? According to London
School of Economics (cited by Edralin, 2016) those with entrepreneurial aspirations
typically pursue one of these career paths:

1. New Venture Creation

You can be your own boss! Starting as a small business

owner, partnering with an existing business or focusing on a technology
or research for commercialization.

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 2. Careers in Existing Entrepreneurial Ventures

Still trying to have a deeper understanding of the

ways of business while being employed? Having knowledge about
entrepreneurship plus being a digital native gives you an edge to attract
institutions to share your up-to-date knowledge on market trends for
innovative strategies of companies. Working with start-ups, business
incubator or accelerators, and corporate entrepreneur in a company
are good opportunities for expanding your horizon.

After undergoing this course and you feel like not starting your own business yet,
all your learnings and skills acquired will not go to waste. These job opportunities
need people like you and may be good leadership training grounds if ever you decide
to go on your own. (American Express)

1. Mid-level management

Be in-charge of the execution of business ideas in big companies.

2. Business consultant

Identify and fix problems for both aspiring and young entrepreneurs

3. Sales

Representing a firm, handling accounts, and visiting clients in the field

are some of the tasks for this job.

4. Research and development

Solving problems by working in a R&D firm should be armed with an

understanding of the what’s and how’s of the business

5. Not-for-profit fundraiser

Raising funds for various groups or organizations for different causes

is comparable to accomplishing a business task and creating a good
communication network.

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6. Teacher

One may impart knowledge to the young generation by integrating the

importance of entrepreneurship while teaching other subjects. For
example, learning the importance of Math in business, reviewing
history as basis of innovation and enhancing language skills to improve
marketing strategies.

7. Recruiter

Work at Human Resources (HR) department as someone who has

knowledge in management, leadership, and other significant
characteristics in selecting people who will be joining a company.

8. Business reporter

Having an understanding about the field will give one an advantage in

writing articles or being in a broadcast team to make a business section
or program more knowledgeable and interesting.

What’s More

Solve the crossword puzzle below by supplying the correct PEC’s.

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 What I Have Learned

Answer the following questions to encapsulate what we have learned in this

module. Write your answers in your notebook.
1. Explain the importance of entrepreneurial activities to social development and
economic progress
2. What are the entrepreneurial activities that you know and capable of doing
which are related to the strand you are enrolled in?
3. Given the opportunity to own a business that is related to your strand, would
you be confident in managing it? Explain your answer.
4. What do you think are the most important competencies you must possess in
order to be successful in running your chosen business?
5. Name successful entrepreneurs from your area whose business is related to
your current strand. Be able to identify their PEC’s that made them
successful.

What I Can Do

Using the PEC’s checklist below, evaluate yourself by putting a check mark in
either strength or development areas column. Interpret the results by counting the
total number of checkmarks in each of the columns. After accomplishing the
checklist, reflect on the results and write down your insights and experiences why
you came up with that personal assessment.

Personal Entrepreneurial Personal Assessment in terms of:

Competencies and Skills of an
Strengths Development Areas
Entrepreneur
Hardworking
Self confidence
Discipline
Committed
Ability to accept change
Creative
Profit oriented
Planning
People skills
Decision making

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 Assessment

A. Fill in the blank with word/s that will make each concept true.

1. The Filipino people, _______________, and the Philippine economy benefit from
entrepreneurship.
2. The term entrepreneur originated from the French word “entreprende” which
means ____________.
3. Entrepreneurs create _________ by introducing new products or services or
finding better ways of making them.
4. Products and services are considered valuable when they satisfy the _________
of the customers.
5. Entrepreneurship is a/n _________ and not a science thus there is a constant
change.
6. Entrepreneurship education teaches how failure makes people more ________
and innovative.
7. Although profit is a good indication of _________, improving the life of an
entrepreneur is also a priceless outcome of entrepreneurship.
8. Businesses which are managed by other people for the benefit of the owner
falls under _________
9. _________ is a part of any entrepreneurial endeavor.
10. The taxes accumulated by both local and national government will be utilized
for _________
B. Identify the PEC’s shown in each situation.

11. Henry Sy, Sr. came to the Philippines at the young age of 12 and worked in
his father’s small sari-sari store more than 12 hours every day to help him.
There, he devised ways to increase his income by developing small portions of
products – much like the sachets we see today in the supermarkets.
12. In 2013, Netflix progressed exceptionally well under the leadership of CEO
Reed Hastings, who co-founded the company as a mail order movie rental
business in 1998. Over the years, Netflix has, of course, evolved into an in-
demand internet streaming company.

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13. Founders of Procter and Gamble, William Procter and James Gamble used to
compete with raw materials: animal oil and fat. Procter is a candle maker while
his brother-in-law, Gamble was a soap maker. They were advised by their
father-in-law to merge their businesses. They followed his advice and that was
how one of the largest and most successful company was born.
14. Two years after Tony Caktiong started his ice cream parlor franchise, he
decided to serve hamburgers, fried chicken, and spaghetti as people began to
tell him that they don’t want to eat ice cream all the time.
15. Starbucks is a master of employing value-based pricing to maximize profits,
and they use research and customer analysis to formulate targeted price
increases that capture the greatest amount consumers are willing to pay
without driving them off.

Additional Activities

A. Read and answer each item. Match the entrepreneurial competencies in

column A with their definition in column B. Write only the letter that
corresponds to your answer on your notebook.

A B
1. creative a. make a wise decision toward the set objectives
2. profit-oriented b. strategic thinking and setting of goals
3. discipline c. trust in one's ability
4. decision making d. adaptable to change
5. people skills e. innovative to have edge over other competitors
6. planner f. solid dedication
7. self-confidence g. skillful in record keeping
8. hard working h. Always stick to the plan
9. ability to accept change i. working diligently
10. committed j. effective and efficient communication in
relation to people
k. always looking for income

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 B. Choose a local entrepreneur you know (Can be someone from the community
or someone you have known through social media) and supply the needed
information in the table below. On the other hand, fill the second row with
your own PEC’s.

PEC’s Characteristics Attributes Lifestyles Skills Traits

Successful
entrepreneur
in the place

My PEC’s

Rubrics for Assessing Open-ended Questions

Needs Improvement:
Excellent: 5pts Average: 3pts.
2pts.
The answer is clear and The answer is Answer is not well-
focused. Relevant understandable, even defined and/or there
Ideas
details were given. though statement is are too many
still basic or general. irrelevant details.
The structure of The organizational Sentences contained
information is structure is strong in the paragraphs
Organization compelling and moves enough and there is make sense, but the
the reader through the not too much sequence of
text. confusion. paragraphs does not.
The form and The answer is The answer is only
presentation of the understandable in this seldom
answer enhances the format. understandable, and
ability for the reader to paper is messily
Presentation
understand and written.
connect with the
message. It is pleasing
to the eye.

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 27
Additional Activities:
A. B. Answers
may vary Assessment:
1. E 6.B 1. local community 6. creative 11. hardworking
2. to undertake 7. wealth 12. creative
2. K 7. C
3. value 8. Intrapreneurship 13. peopleskill
3. H 8. I 4. needs/wants 9. risk 14. openminded
5. art 10. Public service 15. profitoriented
4. A 9. D
5. J 10. F
What’s More: What’ More:
1. planner 6. profitoriented What I
1. b
2. c 2. decision making 7. creative Can Do:
3. d 3. disciplined 8. peopleskill Answer
4. e 4. hardworking 9. selfconfident s may
5. a 5. committed 10. openminded vary.
What I Know:
What’s I
What’s What’s In:
Have 1. d 6. c 11. d
New:
Learned: Answer 2. b 7. b 12. g
Answers s may 3. a 8. d 13. a
Answers
may vary. vary. 4. d 9. b 14. b
may vary.
5. d 10. E 15. c
Answer Key
References
Aduana, Nick L. (2016). Entrepreneurship in Philippine Setting for Senior High School.
Quezon City. C&E Publishing, Inc.

American Express. https://www.americanexpress.com/en-us/business/trends-

and-insights/articles/8-jobs-you-can-get-with-an-entrepreneurship-degree/

DepEd (2016). Technical-Vocational Livelihood Education – Cookery Module 2

Manual.

London School of Economics and Political Science. https://info.lse.ac.uk/current-

students/careers/resources/employment-sectors/entrepreneurship

Go Josiah and Go Chiqui E. (2010). Fundamentals of Marketing in the Philippine

Setting (2nd Edition). Josiah and Carolina Go Foundation, Inc.

Manarang, Roel (n.d.) Top 10 Successful Entrepreneurs in the Philippines Story.

Tycoon. https://tycoon.ph/top-10-successful-entrepreneurs-philippines-story/

Morato, Eduardo Jr. (2016). Entrepreneurship. Quezon City. Rex Bookstore.

Ng, Novan. (2011). The POWER of a TEAM - Together Everyone Achieves More - The
Rabbit and Turtle Modern Race Story. Youtube Video.
https://www.youtube.com/watch?v=xevQ2yTyK9Y

Ezez. 2020. Image.

http://Excerpts from Youtube video The POWER of a TEAM - Together
Everyone Achieves More - The Rabbit and Turtle Modern Race Story. (Ng, 2011).

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For inquiries or feedback, please write or call:

Department of Education – Region III,

Schools Division of Bataan - Curriculum Implementation Division
Learning Resources Management and Development Section (LRMDS)

Provincial Capitol Compound, Balanga City, Bataan

Telefax: (047) 237-2102

Email Address: bataan@deped.gov.ph

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