OBJECTIVES:

After going through with the lesson, you are expected to:
1. Discuss the relevance of the course
2. Explore job opportunities for Entrepreneurship as career.

LESSON 1 – OVERVIEW OF ENTREPRENEURSHIP

INTRODUCTION TO THE COURSE

The learner demonstrates understanding of key concepts, underlying principles, and core competencies in
entrepreneurship. The learner independently creates/provide a quality and marketable product and/or service in
Entrepreneurship as prescribed in the TESDA Training Regulations. The first 2 weeks will focus on the discussion of the
relevance of the course and Exploring job opportunities for Entrepreneurship as a career.

LESSON 1 – DISCUSS THE RELEVANCE OF THE COURSE

To check your prior knowledge about the topic, and to solicit the questions that you want to know about it, fill in the Know and
Want to know components of the Know-Want to know- Learned (KWL) chart legibly. For the Know component, you may write
word/s or phrase. For the want to know component, state your responses in interrogative or question form. You may list as
many responses as you want for each component. Write your responses in the chart below.

KWL CHART

TOPIC KNOW WANT TO KNOW LEARNED

Concept of
Entrepreneurship

Relevance of
Entrepreneurship

Guide Questions:

1. Based on what you have written on the Know component of the chart, what do you know about entrepreneurship and its
relevance to your everyday life and to the society as a whole?
2. If you were to think of a question that you want to ask about entrepreneurship and its relevance to your everyday life and
to the society as a whole?

The word “entrepreneur” is derived from the French verb enterprendre, which means „to undertake‟. This refers to those who
“undertake” the risk of new enterprises. An enterprise is created by an entrepreneur. The process of creation is called
“entrepreneurship” (www.yourarticlelibrary.com).

DIRECTION: After you have filled-in the K and W components of the chart and answered the guide questions, please
answer the diagnostic assessment below.

DIAGNOSTIC ASSESSMENT

Identification. Read carefully the statements below and identify whether this refers to Entrepreneurship or Entrepreneur.
Write your answer in a yellow paper.

1. A person who undertakes the risk of starting a new business venture.

 2. Creates a business plan, hire labor, acquire resources and financing, and provide leadership and
management for the business.
3. It is an important driver of economic growth and innovation.
4. Creates a firm, which aggregates capital and labor in order to produce goods or services for profits
5. It is high-risk, but also can be high-reward as it serves to generate economic wealth, growth, and
innovation.

Entrepreneurship is one of the resources economists categorize as integral to production; the three resources are
land/natural resources, labor and capital. An entrepreneur combines these three to manufacture goods or provide services.
They typically create a business plan, hire labor, acquire resources and financing, and provide leadership and management
for the business (www.investopedia.com).

Activity No. 1: Definition of Terms: To fully understand this module, please read carefully the definitions in column A and
match it with the word/phrase in column B. Write your answer in a yellow paper.

COLUMN A COLUMN B
1. It is simply the noun form of the adjective "relevant," which means A. Livelihood
"important to the matter at hand."
2. It is a new business that is formed with a plan and expectation that B. Entrepreneurship
financial gain will follow. It is usually formed out of a need for a
service or product that is lacking in the market.
3. Related to the differences between groups of people caused mainly C. Social Change
by their financial situation.
4. Refers to any significant alteration over time in behavior patterns and D. Socioeconomic
cultural values and norms.
5. Is a person who sets up a business with the aim to make a profit. E. Business Opportunity

6. The system of production, distribution and consumption. The overall F. Business Venture
measure of a currency system; as the national economy.
7. Refers to their "means of securing the basic necessities (food, water, G. Relevance
shelter and clothing) of life".
8. Refers to the act of creating a business or businesses while building H. Business Innovation
and scaling it to generate a profit.
9. Involves sale or lease of any product, service, equipment, etc. that I. Entrepreneur
will enable the purchaser-licensee to begin a business.
10. It involves developing new products or improving existing J. Economy
technologies, processes, designs and marketing to solve problems,
increase efficiency, reach new customers, and ultimately increase
profits.

OVERVIEW OF ENTREPRENEURSHIP

Meaning of Entrepreneurship and Entrepreneur (www.investopedia.com, www.reference.com,

www.europeanentrepreneurship.com)

Entrepreneurship is...

- The act of creating a business or businesses while building and scaling it to generate a profit.
- An important driver of economic growth and innovation.
- What people do to take their career and dreams into their hands and lead it in the direction of their own choice.
- About building a life on your own terms. No bosses. No restricting schedules. And no one holds you back.

An entrepreneur is...

- A person who sets up a business with the aim to make a profit and creates a new business, bearing most of the
risks and enjoying most of the rewards.
- An innovator, a source of new ideas, goods, services, and business/or procedures.
- Playing a key role in any economy, using the skills and initiative necessary to anticipate needs and bring good
new ideas to market.
 Note: Understanding what an entrepreneur is can help more people recognize the value they contribute to the
world. Entrepreneurs take the idea and execute it while entrepreneurship is about execution of ideas.

DEVELOPMENT
Entrepreneurship in the Philippines (Batalla, V. (2011)

The notion of the entrepreneur as simply one who forms and manages business is apparent in government programs that
attempt to develop small-scale industries. In the Philippines, many entrepreneurial development-training programs rest on such
assumptions. But even without the presence of government support, the statistics for the past fifty years or so on the number
of business establishments formed every year would generally show an increasing trend. They were mostly in food processing,
property development, and trade (including shopping malls).

In 2005, the top 50 Philippine corporations in terms of sales could be broken down into 22 private domestic firms, 23 foreign
firms, and 5 government-owned and/or controlled corporations (BizNews Asia 2007as cited by Batalla, V., 2011). The 22
companies could be identified with 11 families and individuals, mostly Filipinos of Chinese ethnic background. The 11 families
and individuals were the Zobel family (Ayala), the Lopez clan, Lucio Tan, Henry Sy, John Gokongwei, Alfonso Yuchengco,
Eduardo Cojuangco Jr., Jose Yao Campos (Unilab Group of Companies), George Ty (Metrobank), Mariano Que (Mercury
Drug), and Tony Tan-Caktiong (Jollibee).

RELEVANCE OF ENTREPRENEURSHIP TO SHS STUDENTS

Importance of Entrepreneurship (www.reference.com)

1. Entrepreneurship generates new wealth in an economy.
2. Entrepreneurship decreases poverty.
3. It creates opportunities, ensures social justice, instills confidence and stimulates the economy.
4. Entrepreneurship improves productivity
5. Entrepreneurs create jobs.
6. Entrepreneurs innovate.
7. Entrepreneurs create innovation and social change
8. Entrepreneurs give to society

Relevance of Entrepreneurship to SHS Students (www.europeanentrepreneurship.com)

1. To prepare students for livelihood even before college.
2. Entrepreneurship education aids students from all socioeconomic backgrounds to think outside the box and
nurture unconventional talents and skills.
3. Entrepreneurship develops their initiative and helps them to be more creative and self-confident in whatever
they undertake and to act in a socially responsible way.
4. It exposes students to numerous opportunities to learn how to think critically and analyze the pieces on the
board.
5. Being aware of all the important factors and seeing how they affect each other is the foundation of a smart
decision-making process.
6. Students have to be exposed to real-world examples and learn from their own experience.
7. Entrepreneurship education requires students to be innovative, creative and collaborative with others.
8. Entrepreneurship education provides budding entrepreneurs with the skills and knowledge to come up with
business ideas and develop their own ventures.

Entrepreneurship is more than just an economic term – it is actually a way of thinking. People exposed to
entrepreneurship frequently express that they have more opportunity to exercise creative freedoms, higher self-
esteem, and an overall greater sense of control over their own lives. I always tell my students that taking up this
course, “Walang yumayaman sa pagiging empleyado, unless mapangasawa mo ang may-ari ng Kumpanya
pinapasukan mo”. It is funny indeed but putting up you own career in Entrepreneurship is a way of inspiring
creative individuals to pursue opportunities despite its risks. Specially now a days that we are in PANDEMIC Era.

Entrepreneurship teach us to..

a. Creates opportunity - The key to success in business is knowing and following what is your passion. A great
place to start is to think about what you enjoy most about and what makes you happy. Now a days, likes and
dislikes of a person effects of different factor and one of these is technology and what persons is currently
facing.
b. Ensures social justice – Social justice is a concept of fair and just relations between the individual and
society as measured by the distribution of wealth, opportunities for personal activity, and social privileges.
 Securing social justice people tends to develop a security by giving and providing what is needed in his/her
table having a successful enterprise.
c. Instill confidence – A major factor in entrepreneurship is confidence. From the moment an entrepreneur
decides to start a business, they will need to be confident enough in their idea to take that first step.
Confidence is a determining factor in an entrepreneur’s ability to successfully close deals, properly negotiate
and effectively lead a team. Entrepreneurs also need to be confident enough in handling all the overwhelming
challenges of running a business.
d. Stimulates the economy – This ability to challenge the dominant worldview and “think the unthinkable” gives
those with an entrepreneurial imagination a decisive advantage over those who pursue strategies based on
conventionally held ideas and beliefs. And best example is the sustainable economic growth of the country by
developing of wealth thru creating your own enterprise.
e. Take risks – Successful entrepreneurship involves taking risks. If you don’t embrace risk-taking, you may
want to rethink being a business owner. Taking risk, however, does not mean going into business blindly and
then expecting great results. Taking risk in entrepreneurship involves careful planning and hard work.
f. Fail and to persevere - Perseverance is one of the most common reasons for entrepreneur failure and
business closure is a lack of determined to persistence. Meaning, for those who are determined to persevere
until they succeed tend to jump from one idea to another when encountering difficulties. Patience is a virtue
that isn’t spoken about too frequently; Being entrepreneur isn’t for everyone and the number of hours you work
is much more than you have in a standard day job. But if you understand the reality of what’s necessary to
succeed., then you will fight for it every single day.
g. Become creative, inventive and innovative – Entrepreneurs succeed by thinking and doing new things or
old things in new ways. Entrepreneurship is the result of a process that apply both creativity and innovation to
capitalize on marketplace opportunities.

(PICTURE ANALYSIS)

Activity NO. 2. Analyze the picture below then answer the corresponding guide questions. Write your answer in a one whole
yellow pad.

Guide Question: What appropriate product and/or business that can be conceptualized during this COVID -19
pandemic? Write as many in bullet form in a yellow paper.

WHAT MAKES SOMEONE AN ENTREPRENEUR?

Well, at first let us understand the term entrepreneur. By definition, an Entrepreneur is a “person who starts,
organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.” Rather than
working as an employee, an entrepreneur runs a small business and assumes all the risk and reward of a given business
venture, idea, or good or service offered for sale.

In more details, an entrepreneur did not become successful by being lucky. Therefore, ask yourself whether you are
an entrepreneur. Do you have the characteristics of an entrepreneur? If you do, then it is just a matter of taking the risk and
starting today.

Now, let’s identify the characterized by some personal attributes of an ENTREPRENEURS like:
 1. CREATIVITY – is the spark that drives the development of new products or services or ways to do business.
IT is the push for innovation and improvement.
2. DEDICATION – is what motives the entrepreneur to work hard. Planning of an ideas must be joined by hard
work to succeed.
3. DETERMINATION – is the extremely strong desire to achieve success. It includes persistence and the ability
to bounce back after rough times.
4. FLEXIBILITY – is the ability to move quickly in response to changing market needs. It is being true to a dream
while also being mindful of market realities.
5. LEADERSHIP – is the ability to create rules and to set goals.
6. PASSION – is what gets entrepreneurs started and keeps them there.
7. SELF-CONFIDENCE – comes from thorough planning, which reduces uncertainty and the level of risk.
8. “SMARTS” – consists of common sense joined with knowledge or experience in a related business or
endeavor.

Every entrepreneur has a different story to tell. Some have known from day that they wanted to work for themselves and
others come up with ideas while working for someone else and decide to take the entrepreneurial leap.

According to an article, most business owners will agree on one thing. Being an entrepreneur is great. There are endless
reasons for this, and every entrepreneur will have his or her personal reasons as well. Let’s try to identify some qualification.

1. Required Education – educational requirements for entrepreneurs are nonspecific. All entrepreneurs need capital,
so the ability to write an effective business plan is vital.

2. Required Skills – tolerance for risk taking and a willingness to leave the security of a conventional and tedious job.
The ability to multitask is a key also.

3. Career Outlook – earning for entrepreneurs vary drastically, and income is often unstable, especially in the early
days of a new business.

Career Opportunities in Entrepreneurship

1. BUSINESS CONSULTANT
Business consultants provide advice about business issues, such as the development and implementation
of business plans, how to streamline operations or how to expand into a new market.
2. MANAGEMENT ANALYSTS
The person who evaluates a business’ systems, procedures and operations, they
may also review a business’s financial matters, such as ration of income to expenditure.
3. SALES
Someone who works in sales or runs the department needs to know how businesses run. They need to
know how to. Represent a company, manage accounts and follow up on leads.
4. RESEARCH AND DEVELOPMENT
To work in R&D, you need to understand business concepts, procedures and practices. With all of the
training and education someone has received learning about entrepreneurship, they are well prepared for this type
of position.
5. NOT-FOR-PROFIT FUNDRAISER
Being able to raise Funds requires and understanding the importance of business and networking
relationship. IT is a great place for someone with this type of degree because you will have experience in studying
advanced concepts that can be used to your advantage on the job.
6. INTRAPRENEUR
An intrapreneur is an inside entrepreneur, or an entrepreneur within a large firm, who uses entrepreneurial
skills without incurring the risks associated with those activities. Example: Selling Avon among colleagues, Buy and
Sell.

ENGAGEMENT

After discussing the characteristics or attributes of an entrepreneurs, considering which of those characteristics or
attributes might describe you. Think about how you may have demonstrated some of the entrepreneurial characteristics
through your schoolwork, extracurricular activities, part-time job if there is any, or in your household chores. Use the test
below to assess your entrepreneurial characteristics. As you work through the test, try to think of time when you displayed
these personality traits.

Don’t worry if you don’t display all the characteristics of an entrepreneurs. Remember that you will develop some of
these characteristics later in life.
 Please put a check to your corresponding answers.

Attributes Strongly Agree Agree Disagree Strongly Disagree

(1) (2) (3) (4)

Determined
Hard working
Self-belief
Able to deal with set
backs
Reliable
Problem solver
Innovative
Need to achieve
Motivated
Realistic
Disciplined
Have a can do
attitude Focused
Sociable
Good listener
Can take calculated
risks Results
oriented
Can use own
initiative Positive
outlook

Which three of the above characteristics do you believe to be most important for someone who wants to start their own
business?

___________________________________________________________________________________
___________________________________________________________________________________
___________________________________________________________________________________

ACTIVITY NO. 3: ENUMERATION. Give what is asked in the items below. Write your answer in one whole
yellow pad.

ITEMS ANSWER
1. Give the three(3) business resources A.
B.
C.

2. Give three (3) importance of A.

Entrepreneurship to the economy B.
C.
3. Give three (3) relevance of A.
Entrepreneurship to the you as a B.
student C.
4. Give three (3) known families who A.
owned the big Corporations in the B.
Philippines C.
5. Give three (3) characteristics of an A.
Entrepreneur. B.
C.
 MULTIPLE CHOICE: Read and answer each statement carefully. Please use the remaining
space of your yellow pad for your answer. Thanks.

1. Who acts as a coordinating agent in a capitalist economy?

A. Manager B. Finance officer C. Entrepreneur D. Broker
2. Which of the following is not a definition of Entrepreneurship?
A. It creates opportunities, ensures social justice, instills confidence and stimulates the economy.
B. It is an important part of the economic growth strategies of many local and national governments around the
world.
C. Refers to a person who sets up a business with the aim to make a profit.
D. The act of creating a business or businesses while building and scaling it to generate a profit.
3. Which of the following is a relevance of Entrepreneurship to SHS Students?
A. It generates new wealth in an economy.
B. It aids students from all socioeconomic backgrounds to think outside the box.
C. It creates opportunities and ensures social justice.
D. It creates job.
4. Which statement is not correct about the status of entrepreneurship in the Philippines?
A. The number of business establishments formed every year would generally show an increasing trend.
B. N-entrepreneurs are people who can secure resources such as technology and information to gain distinct,
sustainable, competitive advantages.
C. In 2005, the top 50 Philippine corporations in terms of sales could be broken down into 25 private domestic
firms, 20 foreign firms, and 5 government-owned and/or controlled corporations.
D. The 22 companies could be identified with 11 families and individuals, mostly Filipinos of Chinese ethnic
background.
5. Which of the following words is not associated with entrepreneur?
A. innovative B. Impulsive C. collaborative D. Creative

Now, to summarize our lesson, by identify the attributes or characteristics of

Entrepreneurship and relevance of it. Entrepreneurship is not only important for
business itself. It plays a major role in the economy of a country.
First of all, it creates new job opportunities. When an entrepreneur starts a
business, she/he needs to hire others to build up the company.
Second, entrepreneurship cause economic growth. In the Philippines the
government is pursuing its people to engage in business by providing capital to its
people. In some countries, there more entrepreneurs than a worker that is why they have a very stable economy.
Nevertheless, the field is growing constantly.
Third, Entrepreneurs provide wealth. In the Philippine context, there a lot of business tycoons that started from
RAGS-TO-RICHES and to name some is the late HENRY SY who established SM Malls, Mariano Que (Founder and Owner
of Mercury Drug), Socorro C. Ramos – Co-founder of National Bookstore, well-known and leading fast food chain the our
country, Tony Tan Caktiong, Founder of Jolibee, and Corazon D. Ong – Founder of CDO – Foodsphere.
And last the most important aspects is for sure that entrepreneurship helps to bring new products and ideas to
the market. Without the creative ideas of entrepreneurs, our world would not be as advance as it is today in the fields of
culture, science and technology. This is why right now I am challenging you to think and explore ideas to come up with your
own products. As we go along with our lesson we will develop your own ideas, own product that you think that can help you
to become a successful entrepreneur someday.

ADDITIONAL ACTIVITIES

DIRECTIONS: In the table below, write down at least five (5) sentences why you want to become an Entrepreneur someday.

The following motivates me to become an entrepreneur someday:

1.
2.
3.
4.
5.
REFERENCES:

Website

Batalla, V. (2011). Entrepreneurship and Philippine Development. Retrieved from:

https//www.academia.edu/26552052/Entrepreneurship_and Philippine_ Development

Hayes, A. (2020). Entrepreneur Retrieved from: https://www.investopedia. com/terms/e/entrepreneur.asp

Entrepreneurship: Characteristics, Importance, Types, and Functions of Entrepreneurship, Retrieved from:

https://www.yourarticlelibrary. com/

What Is the Importance of Entrepreneurship? Retrieved from: https://www.reference.com/business-

finance/importance- entrepreneurship-a80aee8f21d6b6c1

https://study.com/academy/lesson/entrepreneurship-the-economy.html

https://study.com/academy/lesson/entrepreneurs-personality-types-characteristics.html

https://www.brookings.edu/blog/techtank/2014/12/08/help-wanted-seeking-women-entrepreneurs-in-stem/

https://www.slideshare.net/JohemieLopezQuinones/lesson-1-importance-of-entrepreneurship

https://www.entrepreneur.com/article/243389

An Entrepreneur Needs to be Determined and Persistent By Galit Zamler