L ESSON 1: E NTREPRENEURSHIP : OVERVIEW AND CONCEPTS
entrepreneurial-minded individuals, it will
Entrepreneur
- a person who creates unique ideas that will be
useful for a starting business.
Entrepreneurship
- the science of converting processed ideas into
a remarkable business venture.
- It refers to the setting up of a business or
businesses while taking into consideration its
financial risks, geared towards the
attainment of profits.
The following will be the benefits to senior high school
students for studying entrepreneurship:
 It will increase an individual’s entrepreneurial
interest.
 It will help to discover innovators who also
have the competence and edge of becoming
entrepreneurs.
 It will help the learners analyze creative and
attainable ideas.
 The learners will be able to write a business
plan.
Usefulness of the Course to the Students
 It develops skills that will be needed for
starting up a business.
 It enhances knowledge on how to operate
business.
 It demonstrates how to manage a business.
 Learners may consider becoming an employer
rather than an employee.
 Learners change their attitude towards the
course as a means of living.
 Learners change in personal and career
attitudes such as communication ,problem-
solving skills, collaboration, motivation,
creativity, and teamwork.
Importance of Entrepreneurship Education
The following are the importance of entrepreneurship
education:
 Entrepreneurship serves as a key economic
driver. It focuses on wealth creation, and
through small businesses started by
also create jobs for the people.
 Entrepreneurial education is an individual
lifelong process. It helps increase the level of
knowledge and competence and improve the
quality of life.
 Entrepreneurship education benefits every
student by giving an alternative career path
at any time of his or her life.
Competencies
- are considered as the capability, capacity,
and ability of a person to handle situations in
various areas in business operations such as in
marketing,
management, production, and finance.
Table 1. Common entrepreneurial competencies
Specific Goal Setting
- Entrepreneurs should set goals that are
specific, measurable, attainable, realistic,
and time-bound because it will increase the
chances of achieving that goal.
Self-Efficacy
- Entrepreneurs must believe in their ability.
Entrepreneurs with high self-efficacy will turn
negative feedback into positive and use this as
a basis for improvement.
Need for Achievement
- Entrepreneurs must have a high desire to
accomplish goals. This includes repeated
efforts to achieve success.
Ambition
- Entrepreneurs must have motivation and
persistence to pursue their goals.
Willingness to Learn
- Entrepreneurs should have a strong
willingness to acquire new knowledge and
skills.
Adaptability and Flexibility
 - Entrepreneurs must learn how to be knowledge to identify opportunities that can
adaptable and flexible in every situation. They be attained by the business.
can manage change well and generate new
Decisiveness
actions even with undesirable events.

Willingness to Take Risks - An entrepreneur should know how to make

- Entrepreneurs must be willing to accept the
consequences of every decision. They must
know how to calculate and identify risk. They
are skilled in developing new plans.
Interpersonal Skills
choices and resolve issues quickly.
Optimism
- An entrepreneur should always think
positively even when faced with unexpected
problems.

- Entrepreneurs should have strong skills in Customer Relations Service

working with people. They should have an - An entrepreneur should know how to build
understanding of the behavior of others. trust and long-term relationships with
customers.
Table 2. Competencies for entrepreneurial success

Integrity People-centered

- An entrepreneur should know how to

- An entrepreneur should have a positive
senseof values and personal beliefs, motivate people and see and value the best in
others.
particularlywhen encountering difficult or
challenging situations.

Conceptual Thinking

- An entrepreneur is open to new approaches

and analyzes ideas that may enhance work
and will lead to significant improvements.

Risk-taking

- An entrepreneur anticipates future conflicts

but knows how to solve problems that may
arise in business organizations.

Collaboration

- Entrepreneurs should know how to work with

people or groups to attain common goals and
to promote teamwork.

Strategic Thinking

- Entrepreneurs understand and use

strategies as a way to accomplish goals in
relevance to aims and objectives.

Commercial Aptitude

- An entrepreneur should be updated with the

developments in the locality and with
L ESSON 2: CORE COMPETENCIES IN ENTREPRENEURSHIP
Core Competencies in Entrepreneurship
Core competencies
- are the features or characteristics that allow
a business to stand out from its competitors.
- These competencies cover the business’s
manpower capabilities, acquired assets,
capital, and registered patents.
- They’re very similar to the strengths of a
business.
 The concept of core competencies was
developed by C.K Prahalad and Gary Hamel.
 They revealed the three general conditions
that a business activity must meet:
1. The activity must provide superior value or
benefits to the consumer.
2. It should be difficult for a competitor to replicate.
3. It should be rare.
Table 1. Core competencies of entrepreneur
Entrepreneur as a missionary
- The entrepreneur considers the business as a
mission. For these people, there is a passion
rather than drive.
Entrepreneurs are goal-driven
- Goal-oriented entrepreneurs achieve the
maximum results of their efforts because
they work towards clear and measurable
targets.
- Working towards clearly defined goals is
important. They think of what they want and
how to get it.
Entrepreneur as a marketing man
- Marketing is an important process for
entrepreneurs.
- The process of acquiring and retaining
customers is the focus of marketing.
Entrepreneurs must design the product, set its
price, distribute the product to the market
and promote the
- product. Entrepreneurs must differentiate
their company’s product or service so its
uniqueness and value are clear to the
customer.
Entrepreneurs start small to big
- Most successful entrepreneurs start small and
think big.
- Many entrepreneurs start a small scale
business but with managerial talents and
persistence, they will be able to make the
company grows.
Factors that Develop Entrepreneurial Activity
There are several factors that contribute to the
development of entrepreneurial activity.
Entrepreneurs always bear in mind these things and
utilize them as needed to gear their businesses
towards success.
Entrepreneur’s initiative
- With the interest in the opportunity at hand,
the entrepreneur takes the initiative of
venturing into the business.
- It is the ability of entrepreneurs to convert
ideas into actions.
- It also includes the ability to plan and
manage projects with creativity, innovation,
and risk-taking in order to achieve goals.
Organization of capital resources
- Human resources and financials are
important in starting up a business.
- With the entrepreneur’s savings and other
resources, he will start the operation of his
business. He may ask his trusted family
members or friends that could help him start
his dream business.
Development of administrative machinery
- The management will develop a structure
based on the need for operations. Duties and
responsibilities are assigned to individuals
with skills that will fit to their position
andqualifications. It is based on their capacity
to do the job and not on personal connections
with the entrepreneur.
Development of entrepreneurial autonomy
 - The entrepreneur develops autonomy as he
leads all the activities in the business
organization.
- He knows the best direction because he also
knows how to calculate the risk involved.
promote their products. If you are knowledgeable in
online selling and search engine optimization (SEO), it
will be a great help for your starting business.

Development of SWOT analysis

Management There are management positions in
- In SWOT analysis, strengths and weaknesses every industry. You
are internal elements in the business while
opportunities and threats are external may start out as a management trainee or in a
elements.
management training program. Working towards a
 Strengths are the things that the company
does well. career in management will give you the leadership,
 Weaknesses are the things that the company
lacks. people, and communication experience that you need
 Opportunities are factors/events in the
to be successful.
environment of the business which are
favorable for its growth and success.
 Threats are the elements that could endanger
the profitability of the business. Software, Web or App

Advertising, Marketing, and Public Relations Developer

- Working in advertising, marketing, and public

relations will help you gain ideas on how to
Every business needs technology. Your work as a
reach a target customer when you already
have your own product or services. These jobs software, web or app developer will enhance your skill
build communication between consumers and
the sellers of the product by creating set that will be vital when you start to grow your own
promotions, advertisements, and building a
business. Incorporating technology in business is a
brand image.
great advantage.
Business Development

- Business development officers are employed

by companies to develop and execute Sales Manager/ Account
strategies to increase sales and profits. You
will be able to identify opportunities for the Executive
business.

Design If you have an interest in fashion, home or
product
design, these skills will help you create your own
product design, especially on the packaging and labels
of your product.
Sales management positions provide experiences and
opportunities that will allow you to generate income
for
the business, meet and achieve sales goals.

Business Consultant Business consultants service

E-commerce and Social Media Most businesses today different companies all at
use the Internet to sell and
the same time. They help companies find solutions to

the different business challenges and obstacles being

met.

L ESSON 3: R ELEVANCE AND OPPORTUNITIES IN

ENTREPRENEURSHI