San Pablo Diocesan Catholic Schools System

Diocese of San Pablo

Liceo de San Pablo
M. Paulino St., San Pablo City
Tel. No. (049) 562-3808

Learning Module
ENTREPRENEURSHIP
Quarter 1/Week 1

Overview of Entrepreneurship

Mrs. Maureen V. Sanchez

Senior High School Teacher
SENIOR HIGH SCHOOL – ACCOUNTANCY, BUSINESS AND MANAGEMENT (ABM)
SPECIALIZED SUBJECT

Content Standard

The learners have an understanding of…

Underlying principles and core competencies in Entrepreneurship.

Performance Standard

The learners independently creates/provides a quality and marketable product and/or service
in Entrepreneurship as prescribed in the TESDA Training Regulation

Most Essential Learning Competencies:

Discuss the relevance of the course
 Explore job opportunities for Entrepreneurship as a career.

Objectives:
 Discuss the relevance of entrepreneurship in general including its economic importance
 Define who is an entrepreneur
 Explain the key concepts of common and core competencies in entrepreneurship
 Delineate clearly between entrepreneurship and employment

Many of us Filipinos see education as a means of becoming successful. You often hear
your parents reminding you of being a diligent student in school and working hard so you can
land a reputable position in a company or in the government, as these equates to “success”.
Some even view of living abroad as a means of success. Living abroad has been a traditional
notion for all of us. Nowadays, however, there are some Filipinos who see another path to
success – entrepreneurship.

This course is a helpful tool to help you become financially successful as a manager of
your own business.

What is ENTREPRENEURSHIP?

Entrepreneurship is a proactive of developing a business venture to make profit.

It involves:
 Seeking opportunities for market
 Establishing and operating a business out of the opportunity
 Assessing its risk and rewards through close monitoring of the operation
 With this definition, being an entrepreneur may seem difficult, but it can be rewarding if
the enterprise flourishes. An entrepreneur is successful if the business that he envisioned has
materialized into thriving industry with regular customer and financial gain.

Here are the societal and economic benefits of entrepreneurship.

1. Entrepreneurship produces more jobs that equate to an increase in national income.
2. Entrepreneurship amplifies economic activities of different sectors of society.
3. Entrepreneurship introduces new and innovative products and services.
4. Entrepreneurship improves people’s living standards.
5. Entrepreneurship disperses the economic power and creates equality.
6. Entrepreneurship controls the local wealth and balances regional development.
7. Entrepreneurship reduces social conflicts and political unrest.
8. Entrepreneurship elicits economic independence and capital formation.

REFLECT UPON: Write your answer on a sheet of paper.

1. What do you think are the factors that drive Filipinos to become entrepreneurial?
2. Name three trends that you observe in your environment. Why do you think these
entrepreneurs venture in these business?

The word “entrepreneur” has a French origin and was coined from the words entre, which means
“between” and prendre, which means, “to take”.

Who is an Entrepreneur?
An entrepreneur is a unique individual who has the innate ability and extraordinary
dedication to establish and manage a business, acknowledging all the risks and reaping its
reward. Like other vocations, being an entrepreneur is also a calling. It entails a holistic business
talent to be considered one, ranging from product and marketing expertise to operations agility,
and to financial proficiency. LEADERSHIP is the core of every entrepreneur.

5 Levels of Entrepreneurial Development according to Action Coach.

1. The self-employed. They do not want to conform to a fixed working schedule. The want to do
things in their own way and start to feel agitated when controlled by the powers-that-be.

2. The manager. They delegate and hire potential employees to do the work. However, they
may have the tendency to get more people who do not know the exact needs and requirements of
the job.

3. The leader. Entrepreneurs in this level already enjoy seeing their people flourish, stepping up
and producing great results with minimal supervision. They can now sleep peacefully at night
and have more freedom and time for themselves.
4. The investors. They may either purchase one or two businesses that can potentially add value
to the company, or sell their established business (as a franchise) to potential entrepreneurs.

5. The true entrepreneur. True entrepreneurs, based on their experience, now aim for quality
and excellence in their work. They have fully learned, and continue to practice, a four-step
process of thinking.
 Idealization – entrepreneurs dream enormously and desire to build an ideal environment.
 Visualization – start to create plans to make the dream a reality.
 Verbalization - involves sharing their ideas with other people, knowing their vision is
already occurring.
 Materialization – happens when the vision becomes a reality.

New terms that coined to suit entrepreneur’s field of expertise.

1. A technopreneur – one who puts technology at the core of his or her business model.
2. A social entrepreneur – one who takes advantage of the country’s social problems and turn
them into profitable institutions with the intention of helping the disadvantaged community
rather than making a profit.
3. An intrapreneur- one who is tasked to think, establish, and run a new big idea or project.
4. An extrapreneur – one who hops from one company to another to act as the innovation
champion.

Common and Core Competencies in Entrepreneurship

Entrepreneurship is a career that requires a plethora of common and core competencies.

Common entrepreneurial traits – needed all Core competencies – needed for business
throughout the entrepreneurial career. sustainability and management.

Proactive Leaders
Agents of change Communicators
Risk takers Specialist
Have a sharp eye for opportunities Problem solvers
Sociable
Networkers
Decisive
Balanced
Innovative
 REFLECT UPON: Write your answer on a sheet of paper.
Among the common and core competencies of successful entrepreneurs that were mentioned,
choose three and two core competencies that you think you have. Rank them and explain why.

Entrepreneurship or Employment?

Entrepreneurship and employment are two different career paths that a person can choose
depending on his or her personal aspirations and work characteristics. It is really up to the person
at the end of the day on what career trail he or she will follow. Table 1.1 shows a comprehensive
list of the perks and the downsides of being an entrepreneur as compared to being employed.
Table 1.1. Pros and Cons of entrepreneurship vs. employment

Important Career Factors Entrepreneur Employee

1. Income
2. Hiring and Firing Organizational Setup,
and Major Key Result Areas
3. Daily Tasks
4. Leisure Time and Vacations
5. Taxation
6. Comfort Level at Work
* income generated passively even when the
entrepreneur is resting
* opportunity income unlimited, depending
on the success of the business
*income only earned when the business is
successful
* provides jobs; is the owner of the business
and conducts the talent selection
* fully responsible for serving customers,
making the business profitable/sustainable,
and providing employee satisfaction
* has the power to disengage nonperforming
employees applying the due process policy
of disengaging personnel
* can venture into expansion of business
such as franchising and buying other similar
businesses
* performs all necessary variable tasks to
establish and manage a startup business,
which usually takes most of the
entrepreneur’s time; spend more hours on
work than a regular employee and
sometimes gets no sleep
* prepares policies, procedures, and
memoranda for the business
*has a flexible schedule and can take
unlimited number of vacation days
* Taxed on the net income; can claim
taxable income deductions for allowable
expenses incurred by the business
* is comfortable in doing multiple and
challenging tasks and takes accountability
with the risk and profits of the business; does
not want to be confined in a box; thinks
outside the box or sometimes thinks there is
no box
* income generated actively (i.e., on working
hours only); no work = no pay
* income usually fixed per month and
increases every year depending on the
employer and the employee’s performance
* income earned whether the business is
successful or unsuccessful
* seeks for a job; is the one applying for a
job and is interviewed by the company’s
hiring officers
* has the goal of satisfying only the
employer or the direct supervisor
* fully dependent on the employer’s
performance; is at risk of losing his or her
job if the company does not perform well;
may find it difficult to just leave their below
par employer if this is their only source of
income
* can only work for the current employer
exclusively
* has routine tasks and works on regular or
normal hours
* follow policies, procedures, and
memoranda from the employer
* has a limited number of vacation day
imposed by the employer
* taxed on the gross income; cannot use
expenses incurred related to the job such as
food and transportation expenses to claim for
deduction from taxable income
* may be comfortable with routines and
minimal risks; may also be comfortable in
working for the company
Careers in Entrepreneurship

Entrepreneurship consist of vast career options depending on the passion and field of
interest of the entrepreneur.

Here is a list of the most common small businesses in the Philippines

 Sari-sari store
 Rice retailing
 Food cart business
 Printing business
 Buy-and-sell business
 Street food business
 Flea market business or tiangge
 Online selling business
 Cellphone loading business
 Laundry and dry cleaning business
 Hair styling and makeup business
 Spa, gym and nail care business
 Video and photography business
 Tutorial business
 Baking business
 Web site development and design/blogging
 Direct selling business
 Car wash and car care business
 Bar, café, and restaurant
 Water station and LPG station

Other additional Business Opportunities

 Dealership
 Direct selling
 Distributorship

No successful business started huge right away. A business starts with an idea. Once the
business is established, the business owner, the entrepreneur, can choose to expand and explore
franchising, intrapreneurship and acquisition. Franchising is a business arrangement wherein the
franchisor, who is the owner of the business, acquires distribution centers through the franchisee
or other affiliated dealers.

For more additional information about Entrepreneurship Careers please read this article,
https://www.bestcolleges.com/careers/business/entrepreneurship/

https://www.youtube.com/watch?v=ID9BXKpFIWM
Reference: ENTREPRENEURSHIP
DIWA Senior High School Series Second Edition pages 3-18 and Online article
and Youtube videos

Activity/Assessment

Identify which among the following descriptions refer to entrepreneurs and which refer to
employees. On the blanks, write EN for entrepreneur and EM for employee.

_____ 1. Income is earned whether the business is successful or unsuccessful.

_____ 2. He or she is usually comfortable with routines and minimal risks.
_____ 3. He or she is fully responsible for serving customers, making the business
profitably/sustainable, and providing employee satisfaction.
_____ 4. He or she prepares policies, procedures, and memoranda for the business.
_____ 5. He or she if fully dependent on the employer’s performance.
_____ 6. Comfortable in doing multiple task and takes accountability with the risks and profits of

the business.
_____ 7. Income is generated on working hours only.
_____ 8. Has a flexible schedule and can take an unlimited number of vacation days.
_____ 9. He or she is taxed on the gross income.
____ 10. Has the power to disengage nonperforming employee, applying the due process policy
of disengaging personnel.

For online activity go to this link:

Visit https://www.cipe.org/publications/detail/entrepreneurship-philippines-opportunities-
and-challenges-inclusive-growth

Click this link and answer the guide question activity.

1. What are the top three issues that impede Philippine entrepreneurs to succeed or even start
their own enterprise?

2. What realistic solutions will you suggest to address the top three issues if you will be given
a chance to change the current system and/or business policies in the Philippines?

3. In your own experience and environment scan, describe the state of entrepreneurship in the
Philippines?
ESSENTIAL LEARNING

In this module, you have understood the macroview of entrepreneurship. You have learned
that entrepreneurship plays a big role in nation building and that if fuels a country’s economy. It
also balances the country’s resources and distribution of income. You also understood that being
an entrepreneur is a calling, and it entails numerous characteristics to be considered successful
and sustainable. These characteristics are classified under common and core competencies.
Common competencies are the skill required of a promising entrepreneur, whereas core
competencies are needed in managing and sustaining the business. You have also learned the
general characteristics and differences of an entrepreneur and an employee. Last, you were given
a snapshot of opportunities if you pursue entrepreneurship. Indeed, entrepreneurship is an
exciting path to choose as long as you have all the qualities needed to establish your own
venture.