MODULE 3

ENTREPRENEURS AND SOCIAL ENTREPRENEURSHIP

Introduction:
This chapter presents the fundamental concepts and theories of entrepreneurs and social
entrepreneurship. It also discuss small-medium business, especially small skills entrepreneurship that
promotes, develops, and assists the small and medium enterprise.
The key concepts of entrepreneurship is innovation. Fajardo (2019) defines entrepreneurship as a
new or different ways of doing things like technology, marketing, human relations, and management.
This may also mean an economical and faster method of distributing goods. Such application to
entrepreneurial activities would mean generating more jobs, income, and goods and services and
ultimately creating better economy and a higher standard of living for the people.

Objectives:
At the end of this course, the students are expected to:
1. Explain what entrepreneurship is.
2. Recognize the different sustainable entrepreneurial activities.
3. Describe what a social entrepreneur is and not.

Motivation:
 Concept Mapping and Word Association. Building on the prior knowledge of the
students, write the word ENTREPRENEURSHIP at the center of the blackboard.
Randomly ask students to come to the board to write a word/phrase that they usually
associate with ENTREPRENEURSHIP. Encourage as many as possible responses.
Cluster together common concepts and ideas. Based from ideas brainstormed on the
board, challenge students to come up with a definition of ENTREPRENEURSHIP. Write
two to three definitions on the board. (To get optimal success, encourage students to keep
all handouts and just draw their ideas from prior knowledge)

Process:
Proceed discussing the lecture/handout as shown from pages 2 to 4

Evaluation:
 Concept Mapping and Word Association. Write again the word ENTREPRENURSHIP at
the center of the blackboard. With the new information learned today, students will
associate terms/ ideas/ concepts that they relate with the word ENTREPRENEURSHIP.
Responses must be much better and comprehensive as that of the motivational stage.
From the responses, the students will determine a statement to operationalize the meaning
and concept of ENTREPRENEURSHIP.
ENTREPRENEURSHIP

Fajardo (2019) stress that entrepreneurship is the effective and efficient way of managing
the business capacity and quality of an individual toward customer satisfaction. Coloma (2014)
sees it as all kinds of opportunities in business, which can help reach the target market.

ENTREPRENEUR

An entrepreneur is someone who thinks creatively; plans strategically; and projects,

realistic and objective plans. An entrepreneur efficiently organizes, manages, and faces the risks
in a business. He or she is a member of the society, is confident, and believes in the possibility of
change.

An entrepreneur, according to Lee (2017), should be:

1. An administrator
2. A planner
3. A leader
4. A negotiator
5. A communicator
6. A decision maker
7. A good follower
How do you develop your abilities as an entrepreneur?
1. Get interested in creating something useful to the society/community.
2. Use your creative capacities to the fullest by being sensitive to what is beautiful
and the day-to-day needs of the society/community.
3. Rely yourself instead of being dependent on others.
4. Be conscious and aware of your society/community’s sources of income.

Social Entrepreneur
According to www.sbs.ox.ac.uk, social entrepreneurs are pioneers of innovations that
benefit humanity. They are drivers of change. Together with institutions, networks, and
communities, social entrepreneurs create solutions that are efficient, sustainable, transparent, and
have measurable impact. When people start a business, they tend to see profitability as the
ultimate goal. Peter Drucker (1996) finds these nations of business as myopic. He states that a
social entrepreneur is someone who is visionary. He or she sees opportunities around him or her
and is result oriented as he or she gathers all avenues of potential business growth through
education, health, security, housing services and myriads of other social/community needs.
Drucker adds that “social entrepreneurs are hunter-gatherers of our culture. They look around,
see where the food is, and go to get it. They will give up almost anything to have the right to
make their own choices, decisions and opportunities.” They also learn how to deal with mistakes
to achieve potential economic growth. They do not change themselves to fit their environment.
They use the environment to meet their needs.
Advantages of Having a Business
1. Personal relationship with customers and employees
2. Flexibility in management
3. Government incentives
4. Knowledge of record-keeping techniques
5. Independence

Disadvantages of Having a Business

1. Difficulty in raising capital
2. Risk of failure
3. Limited management skills
4. Lack of opportunities for employees

Retailing
Retailing is concerned with selling certain goods that usually satisfy potential and
existing customers. It extends beyond mere selling and involves the following services;
1. Storekeeping
2. Pricing
3. Advertising
4. Record keeping
5. Maintaining inventory

Service Types of Entrepreneurial Activity

Although potential businesses are plenty, the following are the common forms of
profitable entrepreneurial ventures:
1. Food services
2. Lodging services
3. Financial services
4. Recreational and tourism services
5. Transportation services
6. Personal services
7. Repair and maintenance services
8. Rental services

Social Ability of Entrepreneurs

1. Adopt a mission to create and sustain social value (not just commercial value)
2. Recognize and relentlessly pursue new opportunities to serve that mission. Engage in a
process of continuous innovation, adaptation, and learning. Act boldly even with limited
resources currently at hand.
3. Exhibit a heightened sense of accountability to the constituencies served and for the other
outcomes concerned.
Philanthropist
A successful businessman or businesswoman is one who also helps the less privileged in
the society. He or she donates a big amount of money to a foundation that, for instance, supports
early childhood education or sets up hospitals in poverty-stricken places. Although philanthropist
are critically important in the society and many of them help financial social entrepreneurial
activities, they should not be confused with social entrepreneurs.

Activists
Activists, who are putting pressure on policy makers and the public to stop a specific
practice, are not social entrepreneurs.

Companies with a Foundation

A company’s priority is to make money for its shareholders. It is not an example of social
entrepreneurship practice, which subsumes value appropriation at the service of transforming
social and environmental conditions.

Developing a Business Plan

Planning involves asking the following questions:
a. What to do?
b. How to do it?
c. When to do it?
d. What to expect in the future?
Planning should always be geared toward customer satisfaction. It should be:
1. Realistic. It must be based on available resources such as human, financial, and physical
resources.
2. Based on felt needs. The objectives of an entrepreneur should be based on the needs of
the community.
3. Flexible. Planning should adjust to the trends and consumers’ tastes.
4. Starting with simple projects. In the Philippines many people are poor and have no
business experiences. The simplicity being referred to is the micro type of business,
which requires simple management and technology.

Criteria for Business Planning

1. Clarity of objectives
2. Satisfactory accomplishment of objectives in terms of quantity, quality, time and cost.
3. Provision of guide to attain objectives
4. Identification of department/unit involved
5. A set time frame or duration
6. Specified resources and corresponding cost
7. Designated and accountable officers/executives
Summary
Change is the only permanent thing in this world. People should not be afraid of
innovation especially if this will help improve the correct system or way of doing things or if it
will provide solutions to existing problems.
Entrepreneurship helps people to become more creative, confident, and bolder in their
actions to achieve the desired goals.
Through social entrepreneurship people are driven to come up with significant ideas that
can provide positive changes in the way they run their lives in the society where they live
especially these time of pandemic.

Let’s Reflect.
1. How can social entrepreneurship help in improving the quality of life of the people in a
certain community?
2. How can one’s ability as an entrepreneur be developed?

RUBRICS
o Inadequate (5 points): Most facts are wrong.
o Needs improvement (10 points): Some facts are wrong.
o Adequate (15 points): Technical details are generally correct.
o Professional quality (20 points): All facts are correct, and the technical
explanation is both concise and complete.

Reference
RA 9163 (NSTP LAW),
NSTP-CWTS 2 WORKTEXT FOR COLLEGE STUDENTS
CHED NSTP TEACHER TRAINING WORKSHOP, May 30-June 01,2014