ENTREPRENEURSHIP

First Quarter - Module 1

Discuss the Relevance
of the Course
Entrepreneurship – Grade 12
Supplementary Learning Material
Quarter 1 – Module 1

Republic Act 8293, section 176 states that: No copyright shall subsist in any work of
the Government of the Philippines. However, prior approval of the government agency
or office wherein the work is created shall be necessary for exploitation of such work
for profit. Such agency or office may, among other things, impose as a condition the
payment of royalties.
Borrowed materials (i.e., songs, stories, poems, pictures, photos, brand names,
trademarks, etc.) included in this module are owned by their respective copyright
holders. Every effort has been exerted to locate and seek permission to use these
materials from their respective copyright owners. The publisher and authors do not
represent nor claim ownership over them.

DEVELOPMENT TEAM OF THE MODULE

Writer : Winnie L. Cruz
Content Editor: Merdonio A. Bautista Jr.
Language Editor: Edelyn M. Oben
Layout and Design Editors: Rochella E. Guillarte and Ramona C. Santos
Illustrator: Rochella E. Guillarte
Cover Layout Artist: Nemesio S. Cancan Jr., Ed.D

MANAGEMENT TEAM
OIC-SDS : Romela M. Cruz, CESE
CID Chief : Alyn G. Mendoza, PhDTE
SGOD Chief: Emma G. Arrubio
PSDS-in-Charge: Elizabeth O. Gloriana, Ed.D
EPS-LRMS : Ruby E. Baniqued, Ed.D

Department of Education – Schools Division Office, Mandaluyong

Office Address: Calbayog St. Highway Hills, Mandaluyong City
Telephone number:CID- 79552557
E-mail Address:sdo.mandaluyong@deped.gov.ph ● www.depedmandaluyong.org
The following are some reminders in using this module:
1. Handle this module with care. Use a separate sheet in answering the
exercises.
2. Read the directions carefully before doing each task.
3. Activities in this module can be done individually or with the help of your
teacher, home learning partner or knowledge source partner.
4. Finish this module for the intended week.
5. Return this module to the authorized person in charge of retrieval.

MELC 1 Quarter : 1st Week No. 1

Competency: Discuss the Relevance of the Course
 1

ABM
ENTREP

Name :___________________________ Grade/Section: ___________________Date:___________________

ENTREPRENEURSHIP
QUARTER 1 – MODULE 1

Competency: DISCUSS THE RELEVANCE OF THE COURSE

OBJECTIVES:
After this lesson, you should be able to:
1. define business terms and concepts in Entrepreneurship;
2. describe the qualities of an entrepreneur; and
3. explain the significance of learning entrepreneurship.

KEY CONCEPTS
Shopify (www.shopify.com) defines entrepreneurship “as the study of how new businesses
are created as well as the actual process of starting a new business. An entrepreneur is someone
who has an idea and who works to create a product or service that people will buy, by building
an organization to support those sales.”
According to the Business Dictionary “Entrepreneurship is the capacity and willingness
to develop, organize and manage a business venture along with any of its risks in order to make
a profit.”
Merriam-Webster (www.merriam-webster.com) defines an entrepreneur as an individual
who handles, systematize, and accepts the threat of the business venture

1. PRETEST

Directions: Read each question carefully. Choose the letter that corresponds to the best answer.
1. Which of these is considered as tangible products?
A. Goods C. Accounting service
B. Services D. Transportation provision

2. Which characteristics of an entrepreneur deals with setting objectives with the aim of achieving
them?
A. Innovative C. Goal - oriented
B. Risk-taker D. Opportunity seeker
3. What characteristic involves adjusting to new or different situations or scenarios?
A. Flexible C. Persuasive
B. Truthful D. Goal-oriented
4. Which of these phrases describes the term target market?
A. Group of people who have different needs
B. Group of people with similar purchasing power
C. Group of people most likely to buy a company’s products
D. Group of people who comprise the population from Luzon to Mindanao
5. What is considered to be a marketable product?
A. A product that will satisfy a need
B. A product that will be patronized by millennials
C. A product that will yield good profit for the owner
D. A product that will present uniqueness and innovativeness

MELC 1 Quarter : 1st Week No. 1

Competency: Discuss the Relevance of the Course
 2

2. REVIEW

When you were in junior high school, Entrepreneurship was embedded in all Technology and
Livelihood Education subjects you took up. This is because technology, livelihood and entrepreneurship
are interrelated to one another. Do you still remember the lessons you had? Let us see how well you
have remembered them by answering these questions.
Directions: Read the following questions and answer them correctly and concisely.
1. What are the principles in Entrepreneurship? Give at least two principles and explain.
2. What entrepreneurial competencies do you possess based on the PECs assessment?
Enumerate your top three competencies and explain why you believe you have them.

3. INTRODUCTION OF NEW LESSON

Have you watched the news lately? If you have, then you probably have seen the news about the
Bureau of Internal Revenue’s Memorandum Circular 60-2020 notifying those who do online business
to register with the BIR on or before July 31, 2020. What are your thoughts about this? Do you agree
with the government’s new policy on this? Reactions about this are varied, but one of the reasons why
the BIR has thought of this guideline is for the security of both the sellers and buyers.
Have you browsed the internet recently trying to look for a product that suits your needs and
wants? If your answer to this question is yes, then most likely you have witnessed how businesses
done through digital platforms have sprouted like mushrooms. A lot of people are now using social
media as a platform to sell almost all types of products.
As a senior high school student, it is anticipated that you can now handle and manage your own
business if you want to. It does not matter what strand or track you are into right now. It is a very
wrong notion to think that only students of Accountancy Business and Management (ABM) strand will
succeed in business. What is important is your willingness to do business. Do not worry because the
modules in Entrepreneurship will walk you through your business journey. So are you ready? Read
on and start learning!
What is Entrepreneurship?
There are a myriad of definitions for this word. To simply put it, Entrepreneurship refers to the
study of how business ventures are crafted and the actual steps of commencing a new one. In addition,
the term deals with the actual innovative and imaginative course of action performed by an individual
with the intention of satisfying a need or want. Both the Business Dictionary and Merriam-Webster
assert the risk involved in this undertaking. Hence, entrepreneurship is a business venture that
involves the possibility of risks.

Entrepreneur
We can infer from the definition of Merriam-Webster presented in the Key Concepts that an
entrepreneur does not only own a business, but he also takes responsibility over the risks involved with
it.
One can have a long list of definitions for this term, but an important element to be considered
in explaining this is that an entrepreneur is a transformer and a creator of value. He may convert a
trash idea into something indispensable. He may modify an existing product and turn it into something
more exciting, more useful, and more beneficial to the buying public.

Products, Goods or Services? What are they?

An entrepreneur will not be able to accomplish his tasks and achieve his purpose if one important
element is missing and that is what he will offer to the customers. This is what we call product. So
how do we define it?

Product - According to the Business Dictionary (www.businessdictionary.com), “a product is a good,

idea, method, information, object or service created as a result of a process and serves a need or satisfies
a want.”
This definition tells us that a product may be divided into different classifications depending on
its physical makeup, its use, or the purpose or intention it offers. Products are divided into two major
types and these are goods and services.
Goods – These are considered as the tangible type of product. We usually can see, touch, feel and, yes,
even eat them! These are also called materials, items, merchandise, or commodity. Can you name
some examples of this type of product? Yes, you are right! Computer tables, toiletry items, baking
wares, ube cream cheese pandesal, gadgets and appliances are considered goods.
Services – These are the intangible classification of a product. The expertise and assistance of an
individual or an organization is basically what is offered to the customer or client. Examples of these
are plumbing, accounting, transportation, medical, and education services.

MELC 1 Quarter : 1st Week No. 1

Competency: Discuss the Relevance of the Course
 3

So, if you were to put up a business, what product would you like to sell? Of course, you also
have to consider the types of products like specialty, shopping, and convenience products to name a
few. You may check other references or resources to learn more about these.
A separate discussion about products will also be taken up in Module 8.
What is Market?
What exactly do you think of when you hear the word market? Possibly, you might imagine the
Market Place in Kalentong or the ‘talipapa’ near your house when you are asked of the word market.
Partly, your answer is correct, but market encompasses a bigger picture other than a place where buying
and selling take place. It may also mean a gathering of people transacting business with one another.
The term market may be a noun or a verb. The first two definitions given are both nouns. When
we use this word as a verb, it means to advertise or promote a particular product. However, a much
more interesting characterization of this word is the fact that a market is a group of people who can be
potential customers of a particular business venture.
Should we target the market?
When we speak of the term market, there is another word that serves like a shadow to it. Does
the term target market ring a bell? I am sure you have heard of this so many times. This is one vital
word that you should never forget.
Shopify (www.shopify.com) defines target market as “a group of consumers or organizations
most likely to buy a company’s products or services”. To further explain, target market is a group of
people who are expected to patronize a good or service. It is for this reason that businessmen exert
their efforts at targeting them using their marketing strategies. Hence, the word target. Many people
would probably say that to obtain a bigger sales, one has to offer his goods and services to everyone.
This should not be the case, because in the first place you cannot have all the people in the Philippines,
for example, as your target market. A wise entrepreneur studies the total market, looks into his
products, checks those who may need and want his products, selects particular demographics to focus
on, and checks competition before defining a target market. These are just a few of the things to
consider when studying one’s market, but there are more factors that should be taken into account as
well.
When you envision a business, it is very essential that you choose the right target market. You
have to study their characteristics, their location, their buying behavior, and their purchasing power to
name a few. Do remember that there are other things that you have to take into consideration aside
from those mentioned here.
What is a Marketable Product?
The term marketable product is a very broad word, as its meaning will depend on the company
and an individual’s point of view. An accountant or financial officer of a company may view it as a
product that helps in the acquisition of profits. A marketer may define it as a product that will be
enjoyed and loved by customers.
Marketable products are goods or services that will likely attract, influence, or interest buyers
to buy, thus, make good profit. Hence, it is expected, therefore, that these should satisfy needs and
wants of customers and should possess unique characteristics that will benefit them.
Consequently, if customers find a particular product as valuable, because it fits their wants and
addresses their needs, then they will, no doubt, patronize the product. This goes on as long as the
consumers are happy with the product and they continue to view it as essential to them. This, of course,
generates sales for the company or businessmen. Remember, a product that does not sell is not
marketable.
What Makes a Good Entrepreneur?
A good entrepreneur is difficult to define. But for one to be considered a good entrepreneur, he
has to have the character and features that set him apart from the rest. The following summarizes the
characteristic or qualities of an entrepreneur.
Risk-taker – A risk-taker is an individual who is ready to take on the challenges of a business that
may involve calculated risk or danger with the intention of realizing a goal.
Innovative – Being innovative entails a characteristic that is inclined to bring in or initiate new ideas,
concept, creative invention, or an imaginative creation.
Persuasive - It is characterized by the ability to motivate or entice people.
Goal-oriented - It means to set objectives with the aim of achieving them.
Opportunity seeker – An entrepreneur chases or pursues every chance or occasion as an opportunity
to do business.
Flexible – An entrepreneur can adapt to challenging situations and changing times. In addition,
flexibility means that a businessman should know how to wear many hats or play different roles if the
need arises.
Truthful – A good entrepreneur is someone who has an extreme sense of honesty and integrity.

MELC 1 Quarter : 1st Week No. 1

Competency: Discuss the Relevance of the Course
 4

Relevance of Entrepreneurship Education

Did you know that young people like you can make the most of learning entrepreneurship
education? You might probably be wondering why you are taking up this subject when you do not even
have plans of venturing into a business in the future. You may be asking yourselves with a question
like “Why bother with Entrepreneurship education?” Whatever your track and strand is, learning this
area is an advantage and will benefit you as an individual. The following are some of the many benefits
of learning Entrepreneurship.
1. Studying Entrepreneurship exposes you to situations where you will be able to identify
problems and provide solutions to these predicaments.
2. It will give you the chance to utilize your inquisitiveness and creativity in addressing a want
or need.
3. Learning the subject will present an opportunity to think and reason critically and put into
practice good decision-making skills.
4. It will give you the opportunity to make a difference through the product you want to innovate
and offer to the people and yield income out of it and help the people around you.

4. ACTIVITIES

ACTIVITY NO.1
Directions: Complete the crossword puzzle based on the definitions of key terms you
learned in this module. Use the answer sheet or your own paper in answering. Using
the messenger chat room, compare your output with your partner or group mates in class.

ACTIVITY NO.2

Directions: Compose word analogies to describe the qualities or characteristics of an

entrepreneur. You may show your creativity by presenting your answers in different ways like
phrase analogies or sentence analogies. A sample word analogy is provided for you.

Example: Risk-taker is to challenge as Innovative is to uniqueness

5. CHECK YOUR UNDERSTANDING

Directions: Read and answer the questions below.

1. As a senior high school student, how important is the subject Entrepreneurship for you?
2. What qualities of an entrepreneur deal with invention, motivation and challenges? Explain
why these characteristics are essential in managing a business.

MELC 1 Quarter : 1st Week No. 1

Competency: Discuss the Relevance of the Course
 5

6. POSTTEST

Directions: Read each question carefully. Choose the letter that corresponds to the best answer.
1. Which of these is considered as intangible products?
a) Plumbing
b) N95 mask
c) Eyeglasses
d) Electric fan
2. Which characteristics of an entrepreneur deals with honesty and integrity?
a) Flexible
b) Truthful
c) Persuasive
d) Goal-oriented
3. What characteristic involves pursuing every situation as a chance to do business?
a) Persuasive
b) Innovative
c) Goal-oriented
d) Opportunity seeker
4. Which of the following best explains the given statement?
Entrepreneurship will give you the opportunity to make a difference.
a) Entrepreneurship facilitates exchange of value.
b) Entrepreneurship helps in producing goods and services.
c) Entrepreneurship serves as a platform where one can create, innovate, and enhance or
improve people’s lives.
d) Entrepreneurship provides a venue for idea generation wherein individuals think critically to
come up with products.
5. What is considered to be a marketable product?
a) A product that will satisfy a need
b) A product that will sell at a lower price
c) A product that will prove to be innovative
d) A product that will address a problem and generate income

REFERENCES:
Online resources:
http://www.businessdictionary.com/
https://entrepreneurhandbook.co.uk/entrepreneurship/
https://businessjargons.com/entrepreneurship.html
https://www.tesda.gov.ph/
https://www.forbes.com/sites/brettnelson/2012/06/05/the-real-definition-of-entrepreneur-and-
why-it-matters/#4218842b4456
https://www.philstar.com/headlines/2020/06/18/2021655/bir-tax-only-major-online-
sellers#:~:text=He%20reiterated%20that%20online%20sellers,(VAT)%2C%20he%20said.&text=%E2%8
0%9CBecause%20the%20consumption%20is%20here,we%20can%20collect%20the%20VAT.%E2%80
%9D
https://smallbusiness.chron.com/product-marketability-17351.html
https://study.com/academy/lesson/consumer-products-convenience-shopping-specialty-unsought-
products.html#:~:text=The%20difference%20in%20categorizing%20products,shopping%2C%20special
ty%2C%20and%20unsought.
https://www.shopify.com/encyclopedia/entrepreneurship
https://worksheets.theteacherscorner.net/make-your-own/crossword/crossword.php
Book references:
So, Real C. Principles of Marketing. Quezon City. Vibal Group Inc. 2016
Morato, Eduardo, Jr. Entrepreneurship. Manila. Rex Bookstore 2016

A message for you:

Congratulations! You just finished the first module in Entrepreneurship!
You deserve a pat on the shoulder for completing this lesson. Keep it
up!  

MELC 1 Quarter : 1st Week No. 1

Competency: Discuss the Relevance of the Course
For inquiries or feedback, please write or call:

Department of Education – Schools Division Office-

Mandaluyong

Calbayog Street, Highway Hills, Mandaluyong City 1500

Telefax: (632) 79552557

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

●www.depedmandaluyong.org