ENTREPRENEURSHIP

Introduction to Entrepreneurship
Career Opportunities

Name: _____________________________ Quarter 3 Week 2

Section: _____________________________ Date: __________________

Background Information for Learners

Entrepreneurship is the best means for youth to adapt a changing and highly competitive job
market in rural and urban areas especially in this New Normal situation brought by Pandemic COVID –
19 (Edralin, Career Opportunities 2019).
Entrepreneurship is wide-open possibilities and limitless opportunities to individuals.
Entrepreneurs have numerous personalities. There are those who are not able to go to college. Some are
risk takers, some are gamers, some are artistic and idea driven. The Risks are certainly high but if anyone
has the idea, opportunity and concepts but not yet ready to start their own business still, there are other
ways to apply their entrepreneurial skills (Edralin 2019).
Entrepreneurs start new businesses and take on the risks and rewards of being an owner. This is
the ultimate career in capitalism - putting your idea to work in a competitive economy. Some new
ventures generate enormous wealth for the entrepreneur. However, the job of entrepreneur is not for
everyone. You need to be hard-working, smart, creative, willing to take risks and get along well with
people. You need to have the heart, motivation and drive in order to succeed.
Entrepreneurs have many personalities. A number never finished college. Some are fiery
revolutionaries. Some are gentle souls with a good idea. Some are driven but difficult. Some have grown-
up in the most difficult circumstances imaginable - emerging with enormous determination to strive for
greatness. Others are pleasant, personable and compassionate renegades. Generally, there will be a life
event, key motivator or a source of inspiration that causes a person to strike out on his own rather than
work inside a larger company. Sometimes it is cubicle fatigue or, worse, getting fired. Other times it is an
"aha moment" where an insight or innovation into how an industry or business could be done differently
arises. Sometimes it's a bad boss.
The possibilities in entrepreneurship are endless. The rewards can be high and so are the risks, too.
But, if you have the drive, creativity and the desire to be your own boss, this career is meant very well for
you.

Are entrepreneurs born or made?

This question has long been debated with little agreement. However, as cited by Longenecker,
J.G., et.al. (2016), Stephen Spinelli and Robert Adams described entrepreneurs as having and exhibiting
“desirable and acquirable attitudes and behaviors” such as commitment and determination, leadership,
opportunity obsession, risk-takers, motivation to excel, creativity, self-reliance, and adaptability.
According to (www.ideasforleaders.com), competencies such as risk seeking, assertiveness and vision are
considered typical of a successful entrepreneur. But these are innate predispositions or aspects of
temperament; by using them as yardstick, it is wrongly concluded that only certain types of people make
good entrepreneurs or are capable of worthwhile innovations.

Is there such a thing as a ‘natural-born entrepreneur’?

Accordingly, there is not. Specific techniques and habits must be practiced and developed by all
would-be entrepreneurs. Aside from business competencies, entrepreneurs need interpersonal and self-
leadership skills too; however, these are often overlooked. Entrepreneurial behavior‟ can be learned and
developed (www.ideasforleaders.com). The question is not who entrepreneurs are, but what they do, and
more important than business skills can be other competencies that provide a foundation for those
business skills (www.ideasforleaders.com). Furthermore, according to www.ideasforleaders.com, there
are three levels of competencies, which all entrepreneurs need: 1. Personal competencies – These are your
abilities to ground yourself so that you are secure and self-assured in whatever situation you may find
yourself (www.free-management-ebooks.com). Ex. creativity, determination, integrity, self-criticism. 2.
Interpersonal competencies – These are your ability to lead, influence, communicate, supervise, negotiate,
and control people at all levels. It is the ability to get along with people and motivate people to perform
jobs. Entrepreneurs must effectively manage people (baseread.com). Ex. communication, engagement,

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delegation 3. Business competencies – These are set of particular abilities and knowledge that sets a
company apart from its competitors (yourbusiness.azcentral.com). It also refers to the key characteristics
that successful entrepreneurs should have in order to be successful (www.mustangbols.com). Ex. business
vision, financial management, networking.

Core vs. Common Competencies in Entrepreneurship

Competencies in entrepreneurship play a leading role in making entrepreneurs successful
(baseread.com).
Entrepreneurial competencies facilitate opportunity recognition, help adapt rapidly to changes,
enhances business performance, strengthen the firm’s competitive position and stir the achievement of
organizational success. It is the sum total of the personality, skills and knowledge that the entrepreneur
possesses, which are necessary to effectively perform their functions and responsibilities (Edralin, D. M.,
2016).
Competence is an underlying personal characteristic which leads to superior performance. It is a
combination of knowledge, skills, attitudes, and motives (baseread.com).
Core competence is the foundation for sharpening a company's competitive edge and it guides
brand reputation, business growth, and marketing strategy (www.thebalancesmb.com).
Common competence is one that describes the knowledge, skills and abilities found in most or
all position (www.ifpm.nifc.gov).

Examples of Core and Common Competencies in Entrepreneurship Core Competencies

Core Competencies
1. Organizing and Planning
2. Cash flow management
3. Personnel management
4. Operations and distribution 4. Communication
5. Customer Relations
6. Bookkeeping/Accounting
7. Promotions and Advertising
8. Resources Management
9. Financial Management
10. Information Management
Common Competencies
1. Analytical and critical thinking
2. Decision making
3. Leadership
5. Computer Literacy
6. Human Relations
7. Managing Change
8. Creative Thinking
9. Time Management
10. Conflict Management

Job Opportunities for Entrepreneurship as a Career

If you’re an aspiring entrepreneur, there are different career paths you can take to turn your dream
into a reality. Which path you choose will depend on your experience, skills, finances, and flexibility, as
well as your goals for the future (Doyle, A., 2020).

Career opportunities you might pursue according to Michalowicz (2011) as cited by Edralin, D.
M., 2016):
Entrepreneurship Career Opportunities for the Entrepreneurship Career Opportunities for the
Academic Track TECHVOC Track
 Business Consultant Fine Arts
 Sales  Artist
 Research and development  Graphic designer
 Not-for-profit fundraiser  Photographer
 Teacher  Art gallery manger
 Talent recruiter  Film director
 Business reporter Fashion Designing
 New venture creation  Designer wear production
 Career in existing entrepreneurial ventures  Fashion marketing, planning and concept
management
 Fashion media design management
 Fashion accessory design, quality control, and
promotion brands
 Costume designer
 Fashion consultant and personal stylist
 Technical designer and graphic designer
 Fashion coordinator

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 Sports
 Health club manager
 Strength, wellness or conditioning coach
 Fitness program or event planning manager
 Professional or amateur team manager
 Sports facility manger
 Corporate fitness director
 Rehabilitation center director
 Nutrition center manager
Other TECHVOC Track
 Cook/Chef
 Automotive mechanic
 Electrician
 Technical support specialist
 Tool keeper and technician
 Network support Associate
 Mechanical technologist

Note: Most would-be entrepreneurs, however, remain self-employed, preferring to be the boss.

Reasons why many would like to become an entrepreneur (www.scu.edu):

1. Achievement, Challenge, & Learning
2. Independence & Autonomy – you can set your own goals, pick their own partners, and face the
consequences of your decisions.
3. Income Security and Financial Success
4. Recognition and Status
5. Family
6. Dissatisfaction with Current Work Arrangements
7. Community and Social Motivation

Learning Competency:
 Explore Job opportunities for Entrepreneurship as a career (No available Code)

Activity 1. TRUE or FALSE.

Read and analyze the competencies in Entrepreneurship below. Select TRUE if the statement is correct
and write FALSE if otherwise. Write your answer before the number.
1. Entrepreneurship can be learned by anyone, it’s not something that can simply learn in a
classroom.
2. Certain skills, such as communication, delegating and respecting others can only be acquired
through practice and developing „habits of character‟.
3. Habits of character may not strictly be related to business but are to do with the kind of person the
entrepreneur is and what he/she does.
4. An entrepreneur has to have certain cultivated and inherent qualities in order to make a success of
his or her venture.
5. Hard work and determination to win have made many successful business people to reach their
aspired goals.
6. An Entrepreneur must hesitate for personal or other reasons.
7. Business involves many risks, which an entrepreneur must hesitate to take.
8. New ideas help make a business venture successful.
9. Certain attributes are essential for an Entrepreneur to establish his or her business on sound
footing.
10. The only way to acquire the habits essential for entrepreneurs is by acting in a way inconsistent
with them.

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Activity 2:
Multiple Choice: Read and analyze each statement carefully then choose the letter of the best answer on a
separate sheet of paper.
1. Ronald is graduating SHS. After his graduation, he is planning to put up a computer shop. What
core competency he needs to develop?
a. Arts and design
b. Systems and application
c. Repairs and maintenance
d. Machine and equipment
2. Leticia is an employee of a fast-food chain. What common competency she needs to develop?
a. Time management
b. Managing Conflict
c. Leadership
d. Critical thinking
3. Bon Gonzalez is the owner of the Bon Welding Shop. What common competency he needs to
develop?
a. Change management
b. Human Relations
c. Time management
d. A B & C
4. If Promotions and Advertising are core competency in Entrepreneurship is a common
competency in Entrepreneurship.
a. Managing sales
b. Listening to the sentiments of workers
c. Coordinating with partners
d. Conducting research

5. If good human relation is to Interpersonal Competency; Visioning is to

a. Personal competency
b. Core Competency
c. Common Competency
d. Business Competency

For number 6 to 15, Read and analyze the competencies below that every entrepreneur should develop
and identify whether this refers to Personal Competency, Interpersonal Competency, or Business
Competency.
6. Emotional balance
a. Personal competency
b. Interpersonal Competency
c. Business Competency
7. Negotiation skills
a. Personal competency
b. Interpersonal Competency
c. Business Competency

8. Leadership skills
a. Personal competency
b. Interpersonal Competency
c. Business Competency

9. Persistence
a. Personal competency
b. Interpersonal Competency
c. Business Competency

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 10. Charisma
a. Personal competency
b. Interpersonal Competency
c. Business Competency

11. Resource Management skill

a. Personal competency
b. Interpersonal Competency
c. Business Competency

12. Resiliency
a. Personal competency
b. Interpersonal Competency
c. Business Competency

13. Human Relation

a. Personal competency
b. Interpersonal Competency
c. Business Competency

14. Respect
a. Personal competency
b. Interpersonal Competency
c. Business Competency

15. Tenacity
a. Personal competency
b. Interpersonal Competency
c. Business Competency

References:
a. Entrepreneurship, Divina, Edralin M.,Revised Ed. Quezon City: Vibal Group, Inc., 2019

b. Doyle, A. (2020). The Best Jobs for Aspiring Entrepreneurs. Retrieved from:
https://www.thebalancecareers.com/best-jobs-for-aspiring-entrepreneurs4160409
c. Personal Entrepreneurial Competencies (PECS). Retrieved from:
https://www.mustangbols.com/animation-2d/pecs
d. Careers in Entrepreneurship. Retrieved from: http://www.excite.com/education/business/
entrepreneurship/careers
e. . Reasons People Become Entrepreneurs. Retrieved from:
https://www.scu.edu/illuminate/thought-leaders/drew-starbird/7-reasonspeople-become-
entrepreneurs.html
f. Careers in Entrepreneurship. Retrieved from: http://www.excite.com/education/business/
entrepreneurship/careers
g. The 3 core competencies entrepreneurs must master to succeed. Retrieved from:
https://www.bizjournals.com/bizjournals/how-to/growthstrategies/2017/04/the-3-core-
competencies-entrepreneurs-must-master.html
h. Competency Descriptors. Retrieved from:
https://www.ifpm.nifc.gov/standard/standard/Common_ Competencies.pdf

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 i. Emotional Intelligence and Personal Competence. Retrieved from: www. freemanagement-
ebooks.com/faqpp/understanding-07.html
j. Three competencies every entrepreneur should develop. Retrieved from:
https://www.ideasforleaders.com/ideas/three-competencies-everyentrepreneur-should-develop
k. ABM-ENTERPRENUERSHIP 12_Q1_W2_Mod2.pdf, DIVISION OF CITY SCHOOLS –
MANILA Manila Education Center Arroceros Forest Park, Antonio J. Villegas St. Ermita, Manila

Answer Key:
Activity 1. True or False
1. True
2. False
3. True
4. True
5. True
6. False
7. False
8. True
9. True
10. False

Activity 2. Multiple Choice

1. B
2. A
3. D
4. B
5. D
6. A
7. C
8. C
9. A
10. B
11. C
12. A
13. B
14. B
15. A

Prepared by:

Charmaine Joemaica J. Sapigao

Teacher I