MODULE NO.

1 I n t roduc t ion to
Ent rep reneursh ip

What ’ s In

Befo re we w i l l p roceed to ou r l esson , Can you te l l me what comes

i n t o you r m ind when you hear t he word En t rep reneur? Wr i t e i t one
f ou r th shee t o f paper and g ive i t t o you r t eacher . (A l l answers w i l l
be accep ted )

What ’ s New

Act i v i t y 1 ( THIS WILL SERVE AS

YOUR PERFORMACE TASK 1 )
Give a t l eas t f i ve (5 ) names o f en t rep reneurs t ha t you know. May
i t be f rom you r l oca l i t y o r wi th in Ph i l i pp ines . I den t i f y wha t a re
t he i r common t ra i t s as en t rep reneur .
1 . What cha rac te r i s t i cs t ha t you can observe o r see tha t i s common to
t hem?
2 . Who among the en t rep reneurs you men t ioned tha t you admi re mos t and
why?
3 . I n you r own op in ion , wha t do you need t o possess to become a
success fu l en t rep reneur?
 RUBRIC FOR ESSAY
Conten t The con ten t was we l l - t hough t 4
, gu ide
ques t ions were t ho rough l y
answered
Organ iza t i on The paper was we l l -w r i t t en w i t h 3
i deas
eas i l y conveyed t o readers .
Deve lopment Po in t s a re t ho rough ly deve loped 3
TOTAL 10

Relevance o f En t rep reneursh ip t o an o rgan i za t i on

1. Deve lopment o f Manager ia l capabi l i t i es - t h i s means t ha t one o f

t he bene f i t s an en t rep reneur ge ts i s t o deve lop h i s manager ia l
sk i l l s .
2. Crea t ion o f Organ iza t i ons - wh ic h means tha t because o f
en t rep reneursh ips many o rgan izat i ons w i l l ex i s t .
3. Improv ing s tandard o f l i v i ng - t h is means t ha t en t rep reneursh ip
can l i f t up t he economic s ta tus o f an i nd iv idua l .
4. Means o f economic deve lopment - t h i s means tha t no t on l y t he l i f e
o f t he en t rep reneur i s improved bu t a l so t he soc ie t y where t he
bus iness i s l oca ted .

Concep t o f En t rep reneursh ip

The word “ en t rep reneur ” was de r i ved f rom the F rench verb
en te rp rendre , wh ich means “ t o under take ” Th is i s p inpo i n t ing to
t hose who ” under take ” t he r i sk o f en te rp r i se . The en te rpr i se i s
c rea ted by an en t rep reneur and the p rocess is ca l led
“ E n t rep reneursh ip ”
Ent rep reneurs a re i nnova to rs , wi l l i ng t o t ake r i sks and generat e
new ideas t o make i t un ique and p ro f i t ab le so lu t i ons t o t he presen t -
day p rob lems.

Fac to rs A f f ec t i ng En t rep reneursh ip

1. Persona l i t y Fac to rs wh ich i nc ludes :

a . I n i t i a t i ve - wh ich means do ing t h ings even be fo re be ing t o ld
b . Proac t i ve -wh ich means he can c l ass i f y oppor tun i t i es and se i ze i t .
c . Prob lem So lve r - wh ich means he can re ta in good re la t i ons
wi th o the r peop le
 d . Perseverance -mean ing he w i l l pursue t h ings t o ge t done
rega rd less o f cha l l enges
e . Persuas ion - means tha t he can en t i ce peop le t o buy even i f t h ey
don ’ t .
f . A P lanner - mean ing he makes p lan be fo re do ing th ings and do
no t f a i l t o mon i t o r i t .
g . Risk - take r wh ich means t ha t he i s w i l l i ng t o gamb le bu t he
wi l l ca l cu la te i t f i r s t .
2. Env i ronmenta l Fac to rs wh ich i ncl ude po l i t i ca l , c l ima te , l ega l
sys tem, economic and soc ia l cond i t i ons and marke t s i t ua t i ons .

Common Competenc ies i n En t rep reneursh ip

1 . Dec is i ve - an en t rep reneur mus t be f i rm in mak ing dec is ions .

2 . Commun ica to r - an en t rep reneur must have a conv inc ing power .
3 . Leader -an en t rep reneur an
en t rep reneur mus t have t he char i sma to be
obeyed by h i s emp loyees
4 . Oppor tun i t y seeke r - an en t rep reneur mus t have the ab i l i t y t o be
t he f i r s t t o see bus iness chances .
5 . Proac t i ve - con t ro l l i ng a s i t ua t i on by mak ing t h ings t o happen
or by p repa r ing f o r poss ib le f u t u re p rob lems.
6 . Risk Taker - t hey have the courage to pu rsue wha t i s t he i r bus i ness
i deas .
7 . I nnova t i ve - t he en t rep reneurs have b ig bus iness i deas and they
do no t s top improv ing and th ink ing o f new
wor thwh i l e i deas f o r t he i r bus iness .

Core Competenc ies i n En t rep reneursh ip

1. Economic and dynamic ac t i v i t y - En t rep reneursh ip i s an economi c

ac t i v i t y because i t i nvo lves t he c rea t ion and opera t ion o f an
en te rp r i se w i t h a v iew to c reat i ng va lue o r wea l t h by ensur i ng
op t imum u t i l i za t i on o f l im i t ed resources .
2. I nnova t i ve - En t rep reneurs cons t an t l y l ook f o r new ideas , thus he
needs to be c rea t i ve .
3. Pro f i t Po ten t i a l - mean ing the en t rep reneur can be compensa ted by
h is p ro f i t coming f rom the oper a t ion .
4. Risk bear ing –mean ing the en t repreneur needs to gamb le bu t w i se
enough to o f f se t t he r i sk .
Types o f en t rep reneurs

1. I nnova t i ve en t rep reneur - t hey a re t hose who a lways make new

t h ings by t h ink ing o f new ideas.
2. Im i t a t i ng en t rep reneurs - t hey are t hose who don ’ t c rea te new
t h ings bu t on l y f o l l ow the i deas o f o the r en t rep reneurs .
3. Fab ian en t rep reneurs - t hey are t hose skep t i ca l . They don’ t
i n i t i a te bu t f o l l ow on l y a f t e r t hey a re sa t i s f i ed .
4. Drone en t rep reneur - t hey a re t hose who l i ves on the l abo r of
o the rs . They a re d ie -ha rd conser va t i ves even ready to su f fe r t he
l oss o f bus iness .
5. Soc ia l en t rep reneurs - they a re t hose who in i t i a te changes in t he
var ious f i e lds such as educa t i on , hea l t h , human r i gh t s ,
env i ronment and en te rp r i se devel opment .

Career Oppor tun i t i es o f En t rep r eneursh ip

1. Bus iness Consu l t an t - w i t h t he exper t i se o f t he en t rep reneur he

can be a ve ry good source o f adv ices t o o the r en t rep reneurs and
wou ld be bus iness man .
2. Teacher - a g radua te o f an en t rep reneursh ip can be use hi s
know ledge i n t each ing
3. Researcher - t he en t rep reneur can be emp loyed as resea rcher by an
en te rp r i se .
4. Sa les - t he en t rep reneursh ip g radua te can app l y as sa lesman
5. Bus iness Repor te r - t he en t rep r eneur be ing expe r t i n t he f i e l d,
he can be emp loyed as bus iness repo r te r .

Types o f En t rep reneurs

1. I nnova t i ve en t rep reneurs - have t he ab i l i t y t o t h ink newer ,

be t te r and more economica l i deas .
2. Im i t a t i ng - t hese a re peop le who fo l l ow t he pa th
show by i nnova t i ve en t rep reneur s
3. Fab ian En t rep reneurs - a re skep t i ca l abou t changes to be made i n
t he o rgan iza t i on .
 4. Drone en t rep reneurs - a re pe rsons who l i ves on the labo r o f o ther
5. Soc ia l en t rep reneur - a re peop le who d r i ve soc ia l i nnova t ion and
t rans fo rmat ion i n va r ious f i e l ds i nc lud ing educa t i on , hea l t h,
human r i gh t s and many o the rs .

Ac t i v i t y no 2 . Assessment
Now, t ha t you a re f i n i shed accomp l i sh ing t he modu le , l e t us check
what you have l ea rned . Answer t he ques t i ons g i ven be low by enci r c l i ng
t he l e t t e r o f t he co r rec t answer .

1 . The en t rep reneurs who c rea te new ideas a re ca l l ed?

a . I nnova t i c . Fab ian
ve
d . Drone
b . Im i t a t i n
g
2 . The en t rep reneur who l i ves on t he labor o f o the rs i s ca l l ed?
a . Drone c . Im i t a t i ng
b . Fab ia d . I nnova t i ve
n
3 . These a re en t rep reneurs who a re t o f o l l ow the pa th shown by
i nnova t i ve en t rep reneur .
a . I nnova t i ve C. Soc ia l En t rep rneur
b . Im i t a t i ng d . I n t rap reneur

4 . Which o f t he f o l l ow ing i s NOT a f unc t i on o f an en t rep reneur?

a . Sk i l l s management
b . Risk t ak ing
c . Conduc t research
d . Make no changes w i th h i s p roduct
5 . Ent rep reneur means :
a . Risk t ake r c . To research
b . To d . To improve s tandard o f
under take l i v i ng
6 . I t i s a pe rsona l i t y f ac to r wh ich means “ do ing t h ings even be fo re be ing
t o ld ”
a . proac t i ve c . persuas ion
b . perseveranc d . i n i t i a t i ve
e
7. I t is a persona l i t y f ac to r wh ich means
conv inc ing cus tomers t o buy t he p roduc t
a . Proac t i ve c . Se l f - con f idence
b . Persuas io d . Risk t ake r
n
8 . Which o f t he cho ices i s NOT pa r t o f t he env i ronmenta l f ac to rs?
a . Po l i t i ca l
b . Weather cond i t i on
c . c l ima te
d . f ami l y background o f t he manager
9 . Al l excep t one does NOT be long t o t he group?
a . Unfa i r t rade c . Po l i t i ca l p ro tes t
prac t i ces
d . Produc t
b . St r i kes
10 . The en t rep reneur who i s skep t i c a l abou t t he changes in t he company
i s ca l l ed?
a . Fab ian c . Drone
b . Soc ia l en t rep reneur d . Im i t a t i ng
11 . Which i s NOT a ca ree r f o r an
en t rep reneur? c . Research and Deve lopment
a . Bus iness consu l t an t d . Domest i c He lpe r
b . Sa les
12 . They a re en t rep reneurs who d r i v e soc ia l i nnova t i on and
t rans fo rmat ion i n va r ious f i e l d s .
a . drone c . Fab ian
b . Soc ia l en t rep reneur d . Im i t a t i ng
13 . Which o f t he s ta tements be low i s
t rue?
a . Ent rep reneur has l im i t ed ca ree r oppor tun i t i es
b . Ent rep reneurs a re p rone t o cons tan t h igh i ncome
c . Ent rep reneurs a re con t r i bu to r t o the deve lopment o f t he soc ie t y
d . Ent rep reneurs a re t he reasons f or unemp loyment p rob lem
14 . Which o f t he s ta tement i s NOT t rue?
a . An en t rep reneur w i l l pa t i en t l y wai t f o r h i s e f f o r t s t o bea r f r u i t .
b . The p ro f i t o f t he en t rep reneur i s immed ia te .
c . Al l en t rep reneurs a re success ful
d . Ent rep reneurs a re researche rs
15 . Which o f t he f o l l ow ing i s NOT t rue?
a . Ent rep reneursh ip c rea te o rgan i za t ions c .En t rep reneurs improves
t he economy
b . Improves the l i f e o f t he en t repreneur a lone d . None o f t he
cho ices