ST.

MARY’S COLLEGE OF MARINDUQUE

Isok, Boac, Marinduque

Integrated Basic Education Department

SY: 2021-2022 / 1st Semester

Subject: Entrepreneurship Quarter:  First Q1 / Mod #:  1

Level: Grade 12 Duration:  1week Day:  

Topic: A Perspective on Entrepreneurship Code:  

Objectives:

1. Understand what entrepreneur is.

2. Explain the entrepreneur’s tasks
3. Analyze what the entrepreneurs’ predicament in a given situation
4. Give examples of innovative products in one’s locality
5. Study a particular business venture and tell how innovation helped it grow

1. What is Entrepreneurship?
→ Economic activity of a person who starts, manages and assumes the risk of a
business enterprise.
→ An activity that assures the viability and growth of the economy
→ Goods and services are produced, employment is provided to many people,
taxes are paid to the government, the products and services of suppliers are
bought, future entrepreneurs are provided with venues for training

Entrepreneur - person who undertakes entrepreneurial activities

- identifies an economic need
- considers offering a business solution
- Proceeds to assemble the resources required
- assumes the risk of either succeeding or failing

MRS. KATHERENE V. TARORANAOENTREP12-Q1-M1Page 1 of 4

 2. The Entrepreneurs Task

LandLaborCapital
(natural resources)(Human resources)(financial resources)

Entrepreneur

Production Process

Finished Goods & Services

→ The entrepreneur’s tasks consist of assembling the resources consisting of

land, labor and capital for the purpose of producing goods and services. The
entrepreneur is also responsible for deciding on the rate of output his
venture must produce. He also bears the risk inherent to the venture.

3. Entrepreneurship and Innovation

Innovation is an important aspect of entrepreneurship. It is defined as the
introduction of a new method, procedure, custom, device among others.
1. A new product
2. A new process of production
3. The substitution of a deeper materials in an unaltered product
4. The reorganization of production, internal function or distribution
arrangement leading to increased efficiency, better support for a given
product, or lower costs
5. An improvement in instruments or methods of doing innovation. Innovation
may also be viewed as the last stage in an important process consisting of
the following:
a. Invention – refers to discovery or devising of new products and
process
b. Development – refers to the process by which the ideas and
principles generated from the stage of invention are embodied in
concrete products and techniques
c. Innovation – refers to the actual introduction of a new product or
process.

MRS. KATHERENE V. TARORANAOENTREP12-Q1-M1Page 2 of 4

 4. New Ventures and Long-term Enterprise
→ New ventures must develop into small business or grow into a mature/bigger
company. Entrepreneur must recover the cost of opening the venture.
→ The transition of a new venture to a long-term enterprise consist of the ff:
a. Pre-startup stage – entrepreneur starts to questions the feasibility of an idea,
product, service
b. Start-up stage – formation of the business; generation of necessary capital,
purchase of facilities and equipment, constructing prototype products, testing
the market.
c. Early growth stage – activities on a small scale selling to limited markets with
limited resources
d. Late growth stage – final stage before the new venture matures
- Management is structured long-term financing established
- Skills of entrepreneur are less needed, skilled manager to
take over.

5. The Entrepreneur’s Predicament

→ The entrepreneur cannot feel secure of continuous success in his new
venture. There are…

Entrepreneur 1 Entrepreneur 2 Entrepreneur 3

Year 1 Introduce innovative product Inactive Inactive

Year 2 Reap moderate profits Introduce innovative Inactive

product

Year 3 Maximize profit Reap moderate Introduce innovative

profits products

Year 4 Profits decline Maximize profits Reap moderate profits

Year 5 Introduce innovative Profits decline Maximize profits

product

Innovation and its possible effects on competing firms

6. Entrepreneurship and Business Size

Although entrepreneurship is generally regarded as a useful means of running a
small business, it is also conducive in maintaining the growth of large corporations.
Both large and small businesses are confronted by problems that are entrepreneurial in
nature.
To effecting compete, business of whatever size must adapt innovative approach
to its activities such as:
a. Offering business services during Sundays and Holidays
b. Manufacture and sale of new products
c. Selling on a deferred payment scheme

MRS. KATHERENE V. TARORANAOENTREP12-Q1-M1Page 3 of 4

References:
Entrepreneurship and Small Business Management; 2nd Edition, Robert G. Medina
Entrepreneurship and Small Firms; 5th Edition, David Deakins & Mark Freel

Activity Sheet

Name: Lei Andre Marciano Date: September 7, 2021

Grade &Strand: 12 – HUMSS St Ignatius Teacher: Mrs. Katherene V. Taroranao

A. Directions: Answer briefly and directly the questions below.

1. Why is innovation an important role in entrepreneurship activity?

Fruitful innovation permits you to include esteem to your commerce so that you can
increase your profits – if you do not improve well, your trade will level.
Innovation helps you remain ahead of the competition. With globalization and a
quickly changing market, there are more competing business than ever sometime
recently.

2. Prepare/list of five innovative products or services currently introduced in the market.

Face masks
Car computers
Prosthetics
Electric cars
Waterproof cell phones

B. Identify a business in your area which became successful due to innovation. Write about
the role played by innovation in its success?

The business that I think that is really climbing up the ladder is Borcena’s Xerox Copy
Business. They’ve been really getting some traction lately because DEPED Boac gave them
a contract to Xerox copy all of the modules that they handout to the students in DLHMS and
MNHS. I think that this was the perfect opportunity for them because of COVID-19 putting a
halt to face to face classes. Therefore, forced our community to .undergo modular and online
learning.

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