At the end of the learning experiences, the learner will

be able to:

qIdentify the importance of the study of entrepreneurship;

qInfer very noticeable features of entrepreneurship; and

qCite the important theories on Entrepreneurship

2
ACTIVITY
A. In your prior knowledge, what is entrepreneurship?
_____________________________________________.

B. Did you know that successful entrepreneurs come from all

walks of life and have different educational backgrounds from
different colleges?_____________________________________.

C. Name one business that may be suitable for you.

_____________________________________________________.
What comes into your mind when you
hear the words Entrepreneur and
Entrepreneurship?
entrepreneur - entreprendre

entre-between
prendre - to take

to undertake

start of a new business undertaking

5
 “
▸
A.Entrepreneur refers to a person who strongly advocates and
correctly practices the concepts and principles of entrepreneurship in
m a n a g i n g h i s o w n b u s i n e s s .

6
Do you imagine yourself becoming an
entrepreneur and managing your own
business in the future?
According to Action Coach, 5 levels of entrepreneurial
development

1. Self-employed - not comfortable with desk job, self

sufficient.
2. The manager-assessing employees strength &
weaknesses.
3. The leader-seeing people flourish, stepping up and
producing great results.
4. The investor-look for opportunities to grow.
5. The true entrepreneur - 4 steps process of
thinking( idealization, visualization, verbalization and
materialization)
 technopreneur
social entrepreneur
intrapreneur
extrapreneur
Common traits of entrepreneur

PROACTIVE
AGENTS OF CHANGE
RISK TAKERS
HAVE A SHARP EYE FOR
OPPORTUNITIES
11
 Top 10 Successful Entrepreneurs in the Philippines 2023

1) Henry Sy( Shoe Mart) ...

2) Tony Tan Caktiong( Jollibee Foods) ...
3) Socorro Ramos( National Book Store) ...
4) John GokongweiJr. ...
5) Edgar Sia( Mang Inasal) ...
6) Mariano Que( Mercury Drug) ...
7) Cresida Tueres( Greenwich Pizza) ...
8) Cecilio Kwok Pedro (Lamoiyan Corporation)

https://www.theasianaffairs.com/successful-
entrepreneurs-in-the-philippines/ 12
▸

B. Entrepreneurship is the act of doing correct practices in managing the

venture. It is also about operating the self-owned business, It is a wealth-creating
business enterprise and providing valuable goods and services to customers.

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▸ is a proactive process of
developing a business venture
to make a profit.
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▸ Important Features of
Entrepreneurship

15
 Entrepreneurial concepts and principles
constantly change and are influenced by the
changes in the environment.
These changes are mainly due to the
creativity and innovation born or created from
business opportunities.

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 Providing
values to
customers

Wealth- Operating
creating and
venture managing
self-owned
Entrepreneurship

Art of Risk-
correct taking
practices venture

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A. Entrepreneurship is an Art
of Correct Practices

a. Entrepreneurship is an art.

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b. It continuously grows, develops, improves, and
expands.

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c. Related to creativity. A creative person has new
ideas, which considered as the backbone of
entrepreneurship.

20
 B. Entrepreneurship is a Wealth Creating Venture

a. We all know that in business, there is the concept of

wealth creation rather than profit generation

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▸ b. Compared to an ordinary business person, he just
regards his/her small business basically as a source of
income.

22
C.Entrepreneurship Provides
Valuable Goods and Services

a . O n e p r i n c i p l e i n
entrepreneurship is “not to sell
waste or low quality to consumers
but only valuable goods and
services” the customers must feel
that the product they receive is
worth the price.
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D. Entrepreneurship Entails
Opening and managing the Self-
Owned Enterprise

a. A business involves planning.

Same with setting the goals of the
business.

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 E. Entrepreneurship is a Risk-Taking
Venture

a. “Risk is always permanent and existing in

an entrepreneurial venture.”

b. An entrepreneur should face business risk

intelligently by calculating risk.

a. “Risk is always permanent and existing in

an entrepreneurial venture.”

b. An entrepreneur should face business risk

intelligently by calculating risk.
Compounded Benefits of Entrepreneurship
Contributions of
Entrepreneurship

Local Philippine
Filipino People
Community Econony
Entrepreneurship affects the lives of
Filipino or the entrepreneur itself, the
local community, and the Philippine
economy.
A. Filipino people / Entrepreneur

1. Provides wealth since it is a guideline in a wealth-

creating venture.
2. It can improve our financial life.
3. It helps us to become more creative and critical
thinkers
4. Makes their lives happy and successful

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B. Local Community or society

1. It can provide job opportunities

2. Helps the raising and collection of taxes
3. It creates new business opportunities or supports large businesses
4. It promotes a peaceful and loving community when attracted to
live and work in the area.
5. Entrepreneurs embrace competition, therefore it increases
constructive competition.

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C. Philippine Economy

1. It encourages healthy competition and challenges

entrepreneurs to keep improving their products.

2. Helps fasten our economic recovery

3. It supports the national government to have good or even

high economic ratings in the world market.

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Entrepreneurship and Ordinary Small
B u s i n e s s A c t i v i t y

A.Entrepreneurship and owning a small

business are different. We can learn
their differences by knowing their
activities. They differ in the following
areas.

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▸ 1. The motive in opening a business – Entrepreneurs wants
to create wealth while ordinary small business owner opens
the venture to generate profit.

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▸ 2. Perception of risk in the business – Entrepreneurs knew
risk is inherent in business activity while ordinary business
owners were afraid of risks that may occur.

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▸ 3. Reactions to changes in the environment – Entrepreneurs are open
to changes, they always improve their products. An ordinary business
owner doesn’t want changes because it may prevent them from their
income generation.

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▸ 4. View on competition – An entrepreneur is always
open to competition because he embraces the concepts
and principles. An ordinary business person thinks
competition as a barrier for him to generate income.

35
▸ 5. Vision for development and growth – An
entrepreneur views his venture as a long term
business. He aligns his business with his plans. An
ordinary business owner relies on chances or luck if
the business will succeed or not.

36
▸ 6. The horizon of business operation–An entrepreneur
thinks globally and concern also for the global market in
the future. An ordinary business owner is centered only on
the local environment. He is not open to expansion.

37
▸ 7. Sources of business funds – an entrepreneur explore
other ways to have more funds for the business. An
ordinary business owner is not willing to extend financial
assistance because he views loans as a risky move.

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SYNTHESIS
There is a need to have a correct understanding of the concept
of entrepreneurship. It consists of very important features. It is an
art, a wealth-creating venture, managing a self-owned business,
providing values to customers, and a risk-taking venture. Theories
on entrepreneurship are also important and applicable to our
learners as future entrepreneurs. Being an entrepreneur means we
are embracing the concepts and principles and applying them in
our venture at the same time.
VALUES

Do you agree with this quote? How applicable is this?

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