Lesson

Entrepreneurship and its Relevance

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What is Entrepreneurship?
● Entrepreneurship is the process of developing, conducting, managing, operating, directing and
evaluating a business venture in order to gain profit by taking several risks. It is also defined as
the act of discovering new ways of combining resources to produce new products and services.
(Sobel, 2019)
Who is an Entrepreneur?
● An entrepreneur is an individual or a collective who develops a new company, carries most of the
risks and enjoys most of the benefits of a joint effort through profit. The entrepreneur is widely
seen as an innovator, a source of new ideas, products, services and business / procedures.
● The term "entrepreneur" originates from the French verb of the thirteenth century, which means
"to do something" or "to undertake."

Relevance of Entrepreneurship to Organization

Entrepreneurship has played an important role in the economic growth of the increasing global
marketplace.
1. Growth of Entrepreneurship
● The growth or establishment of small enterprises is the specific contribution of entrepreneurship
in every economy of the world.
2. Creation of job opportunities
● Entrepreneurship companies have contributed a substantial proportion of new workers. It
provides entry-level jobs that are so necessary to learn or acquire experience for unskilled
employees. In addition, entrepreneurial ventures are preparing and providing experienced labor
to large industries.
3. Innovation
● Entrepreneurship promotes creativity that brings new ideas, products, technology, the industry,
the quality of goods, etc. to the economy, thus rising Gross Domestic Products and people's
standard of living.
4. Impact on community development
● Entrepreneurship promotes abundant retail facilities, a higher level of homeownership, fewer
slums, better, sanitation standards and higher expenditure on education, recreation, and religious
activities. Entrepreneurship, therefore, leads to more peace and greater quality of community
life.
5. The consequence of business failure
● If the business or companies collapse many will lose their jobs: suppliers and financial institutions
face a crisis of recovery. Customers are robbed of taxation on goods, utilities, and policy
expenditures.
6. Political and economic integration of outsiders
● Entrepreneurship is the most productive way to incorporate those who feel discarded and
excluded into the economy. Minorities, refugees and women are comfortably incorporated into
entrepreneurship, which would continue to build a well-structured inclusive society.
7. Spawns entrepreneurship
 ● Entrepreneurship is a breeding ground for new inexperienced adventurers. It is the field in which
a person can begin his / her idea of a venture, which may end up in a
giant enterprise. All the major industrial ventures began as a small
business enterprise.
8. Enhances the standard of living
● The standard of living is a term focused on an improvement in the
consumption of a range of goods and services by a household over a
given period of time. Entrepreneurship, by its creativity, provides
enormous types of goods of different natures.
9. Promotes research and development
● Entrepreneurship offers research and development funds to universities and academic
institutions. It promotes general economic development, research and development.

Lesson Successful Entrepreneurs in the Philippines

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1. Socorro C. Ramos (National Book Store, Inc.) Once she
was 18 years old, Ms. Socorro C. Ramos began working as
a saleswoman in Goodwill Bookstore in Escolta. She was
good at sales so she was responsible for the shop. When
she was married to Jose Ramos, they put up the National
Book Store. Her vision was to extend the National
bookstore not only here in Luzon but also to Visayas and
Mindanao for cheaper access to books and school supplies. Today, more than 70 National
Book Store can be found nationwide.
2. Tony Tan Caktiong (Jollibee Foods Inc.) Previously, Jollibee
sold Magnolia Ice Cream and instead it was known as
selling chicken and burgers. Jollibee's president and CEO,
Tony Tan Caktiong, was a name to note, not only here in
the Philippines but also in other parts of the world, such as
the US, Hong Kong , China, Indonesia and Japan.
3. Lucio Tan (Philippine Airlines) The story of Lucio Tan went
from rags to riches tale. His company was a mess, until he
worked in the tobacco industry. His ambition was to be a
scientist but his destiny was bound to become a businessman.
His hard work gave him success, and he became famous. Now,
he's owning Asia Brewery, Tanduay, Fortune Tobacco,
Philippine Airlines, Allied Bank, and more.
4. Atty. Felipe L. Gozon (GMA Network, Inc.) Atty. Felipe L. Gozon is GMA Network's Chairman,
President, and CEO. He was credited with GMA Network’s achievements in radio and
 television broadcasting, film making, and recording music. In 2004 he became a Master
Entrepreneur. Atty's leadership because of. Gozon, he turned GMA
into one of the country's top networks today. GMA also has satellite coverage in Asia and in
other parts of the world.
5. Henry Sy (ShoeMart) Henry Sy was born in Xiamen China on December
25, 1923. He had used to market American shoes in his early twenties.
Then he was able to get his first shoe mart store after three years. SM
company group was one of the largest businesses in our country and
Henry Sy was the man behind that. His self-discipline, hard work and
perseverance made him what he is today.
6. Jaime Zobel de Ayala (Ayala Corporation) The President and Chairman
of Ayala Corporation was Jaime Zobel de Ayala. In 2007, he was known
as one of the richest persons linked to Henry Sy. He had won several
awards and the latest was 2012 Entrepreneur of the Year. His approach
to be effective in this sector has been getting partners in the community
with those in need.

7. Alfredo Yao (Zest-O Corporation) Alfredo Yao came from a poor family
and earned riches because of hard work and determination. He did not
finish his training at Mapua Technology Institute. He had experience
working in the printing press and then 20 years of investment into this
business. He then switched to a company in the manufacture of juices.
Zest-O was hit by mothers because of its comfort of being put in a
growing children's lunch box. Today Zest-O was one of the country's
leading juice producers, in China, New Zealand, Singapore, and many others.
8. Mariano Que (Mercury Drugstore) Mariano Que served first at a drugstore.
He invested his 100 pesos in the sulfathiazole tablets when he got the
chance. He sold his goods to men by making use of the wooden pushcart.
He was able to develop Mercury after saving a lot of money. This was
made popular to people as the selling of healthy pharmaceutical items and
available for 24/7. As every other leading drug store, Mercury had several
national stores. That was due to the advances Que created in his products.
9. Cecilio K. Pedro (Lamoiyan Corporation) Cecilio K. Pedro completed his
degree in business administration at the University of Ateneo de Manila.
He created the Lamoiyan Corp. which is manufacturing toothpastes such
as "Hapee" and "Kutitap," making toothpaste accessible to the masses.
He succeeded in the industry as being competitive and creative in battling
for the multinationals. His business has received a "Most Excellent Plan
 for Equal Employment Opportunities'' award, which gives priority to those who have trouble
hearing to work in his firm.
10. Corazon D. Ong (CDO Foodsphere, Inc.) CDO Foods is founded by
Corazon D. Ong. It was Ms. Ong's hobby to manufacture processed meat
items like corned beef, hotdog, meatloaf, and hamburger patties. By
profession, she was a dietician. So, she knew what most Filipinos' tastes
were. Today, CDO Foodsphere, Inc. has been listed as a leading meat
topping supplier. Why? Since we have many working mothers
nowadays and it is nice to have foods that can be quickly cooked on their part.

Lesson Entrepreneurship as a Career

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These are some of the possible career opportunities in-lined with entrepreneurship.
1. Mid-level Management -the c-level folks develop ideas. The ground force does the work, and
mid-level management converts new ideas into execution.
2. Business Consultant-they go to a client site to identify problems and fix them. They are trained
to identify things that others may not pick up. They are also trained to know how to fix them.
3. Sales-they can work in sales or run the department of any businesses. They should know-how to
represent a company, manage accounts, and follow up on leads.
4. Research and development -a good qualification to work in R & D is a training and education on
understanding of business concepts, procedures, and practices in entrepreneurship.
5. Not-for-profit fundraiser-being able to raise funds requires understanding the importance of
business and networking relationships.
6. Teacher-those with entrepreneurship Degree are qualified to teach the core subjects in senior
high school and teach students the entrepreneurial skills.
7. Recruiter-they have a keen sense of what type of a person is needed to fill the position.
8. Business reporter-they write articles, or pick up a quick class to learn how to write an article.
Understanding the field and concepts of business can be used to make the business section much
more interesting and appealing.
ACTIVITY 1.4: YOU IMAGINE: If someday you become an entrepreneur, how do you want your career to
be like? List your potential career and possibilities related to your strand. Write your answer in your
notebook.

ACTIVITY 1.5: YOUR FUTURE: If you will be given a chance to work in a company, what company will
it be and give your reason for choosing them? Write down 5 of your top companies and use your
notebook for your answer.

1. _______________________________
2. _______________________________
3. _______________________________
4. _______________________________
5. _______________________________

● A person who undertakes the risk of starting a new business venture is called an
entrepreneur.
● Entrepreneurship is high-risk, but also can be high-reward as it serves to generate
economic wealth, growth, and innovation.
● The top renowned entrepreneurs have truly worked hard to achieve business success.
They had faced different obstacles but had not stopped until they had accomplished their
goals. Their entrepreneurial qualities paved a long way within the business world.
● You should have just the will and the ability to work very hard. In the business sector, we
can be destined to keep our sights focused on how to achieve our goals and at the same
time, we should also be guided by our values in life.