Entrepreneurship Notes Upon receipt of the business permit, Jamaine immediately bought all

Lesson 6: Importance of Entrepreneurship the needed equipment and materials for her beauty shop. For all these
equipment and fixtures, she paid 60,000. She then rented a business
COMPOUNDED BENEFITS OF ENTREPRENEURSHIP space at 10,000 per month.
●​ It is important to have a background understanding of the effects of
entrepreneurship on the lives of individual Filipinos, the local She hired and employed five beauticians and provided them a salary
community, and the Philippine economy. above the minimum salary and all statutory benefits. The total annual
●​ Basically, the benefits derived from entrepreneurship are compensation and benefits paid by Jamaine to her employees for the year
compounded from one level to the next. amounted to 540,000.
●​ It produces a chain of progressive results from the individual
entrep and finally to the whole Philippine economy. Jamaine at the end of the year is enriched (profit) by 590,000 after
paying the annual income tax of 110,000 to the BIR.

Assessing the case of Jenny's Hair Salon, based on the flow of benefits and
contributions of entrepreneurship, the effects will appear as follows:

1. Jamaine as the entrepreneur is enriched by 590,000 during the year.

2. The five employees or beauticians are enriched financially at a total
amount of 540,000.
3. The owner of the rented building is enriched by 10,000 per month or
120,000 for the whole year, while the supplier of equipment and fixtures
was enriched by 60,000.
Here is an example to illustrate the domino effects of entrepreneurship.
4. The local government collected local taxes amounting to 5,000 from
Jamaine's Hair Salon Jenny's Hair Salon.
5. The national government, through its collection agency, BIR, collected
Jamaine, upon seeing a promising and brilliant business opportunity in the annual income tax of 110,000.
the community, opened a beauty shop. 6. The taxes collected by the local and national government will be
returned to the general public in the form of services like roads, street
She went to the Department of Trade and Industry (DTI), the City lights, police security, and other public services.
Government of Davao City, and the Bureau of Internal Revenue (BIR) ●​ The benefits and contributions of the entrepreneurial venture in
to process, pay, and comply with all the documentary requirements and this case will actually produce a series of benefits.
fees in opening a business. The total taxes and licenses paid by Jamaine ●​ The list of the possible effects and contributions of
in opening the business amounted to $5,000. entrepreneurship seems limitless. The listings indicated in a
particular group are not all-inclusive.

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Importance to the Filipino People Lesson 7: Sources of Entrepreneurial Ideas
Entrepreneurship makes the following contributions to the lives of the
Filipinos:
1. It provides guidelines in their wealth-creating ventures.
2. It helps improve their financial and social life.
3. It helps broaden their creativity.
4. It helps make their lives happy, fruitful, and successful.

Importance to the Local Community

Entrepreneurship, in one way or another, makes the following contributions
●​ Business must be firmly established on existing business
to the local community:
opportunities
1. It provides employment in the community.
●​ There can be no business opportunities in the absence of an
2. It creates new demand in the market.
entrepreneurial idea.
3. It makes substantial contributions to the raising and collection of taxes.
In contrast, the owner of an ordinary small business usually opens a
4. It facilitates the movement of the factors of production.
business even if there are no business opportunities existing in the
5. It creates new business opportunities.
community. As a result, the business can hardly move from where it
6. It promotes a peaceful and loving community.
started even after several years of operation.
7. It increases constructive competition.
Sources of Entrepreneurial Ideas
Importance to the Philippine Economy 1. Changes in the environment
Entrepreneurship makes the following contributions to the Philippine 2. Technological discovery and advancement
economy: 3. Government's thrust, programs, and policies
1. It encourages competitiveness and thereby challenges entrepreneurs to 4. People's interests
keep improving their products and services. 5. Past experiences
2. It helps find an entrepreneurial niche in the world market.
3. It helps hasten the economic recovery process of the Philippines during
financial turmoil or crisis. CHANGES IN THE ENVIRONMENT
4. It facilitates the smooth flow of money in the market. ●​ Entrepreneurial ideas arise from the changes that happen in the
5. It assists the national government in its desire to have favorable external environment with entrepreneurial implications.
economic ratings in the world market. ●​ A person with an entrepreneurial drive views these changes
positively.
●​ He or she determines what business opportunities they may
provide.
●​ EXTERNAL ENVIRONMENT:
Physical, Societal, Industry Environment

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1. The physical environment includes; ●​ Keenly observe and be vigilant to the reactions of the people to
a. climate the changes in the external environment.
b. natural resources ●​ These changes may or may not have an entrepreneurial
c. wildlife. implication.

2. The societal environment includes various forces like; TECHNOLOGICAL DISCOVERY AND
a. economic forces ADVANCEMENT
b. sociocultural forces
●​ Discovery and advancement in the use of technology are another
c. political forces
good source of entrepreneurial ideas and opportunities.
d. technological environment
●​ Most people welcome technological discoveries and advancements
but cannot identify or determine entrepreneurial opportunities
3. The industry environment of the business includes
stemming from them.
a. government b. competitors
●​ On the other hand, a person with entrepreneurial interest looks at
c. suppliers d. customers
the possibility of business opportunities in any new discovery or
e. creditors f. employees
advancement in technology.

Example: A knowledgeable mechanic discovers that additional engine

parts he installed significantly reduce fuel consumption. While he could be
content with this contribution to fuel conservation, an entrepreneurial
mindset might see it as a business opportunity to manufacture these
fuel-saving parts.

GOVERNMENT'S THRUST, PROGRAMS, AND

POLICIES
●​ The priorities, projects, programs, and policies of the
government are also good sources of entrepreneurial ideas.
●​ The term government in this lesson refers to the local government
(municipal, city, or provincial) or the national government and
its branches.
●​ The programs and agenda of the Philippine government intuitively
address the needs of the Filipino people.
●​ There are also instances when the national government responds
to the call of international agencies or the world market.

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 ●​ Changes in the policies and programs = New entrepreneurial shop. Thus, his or her relevant job experiences in the past can lead to that
ideas entrepreneurial venture.

PEOPLE'S INTERESTS
●​ The interests, hobbies, and preferences of people are a rich source
of entrepreneurial ideas.

Example: The rise of Internet cafés reflects young people's strong

attachment to computers, while the growth of amusement parks,
nightspots, and nature farms meets the demand for fun and relaxation.

●​ However, an entrepreneur must be keen in identifying the cycle of

interests and trends of his or her target market since these tend to
continuously change. (Trends tends to change)
●​ He or she must be ready to address the change properly and
immediately to avoid possible negative effects on the operations
of the business venture.
●​ Venture should be adaptive to the interests and hobbies of the
people to protect and sustain your business.
●​ Keep evaluating the interests of your target customers.

PAST EXPERIENCES
●​ Past experiences and exposures are also a good source of
entrepreneurial ideas.
●​ The expertise and skills developed by a person who has worked in
a particular field may lead to the opening of a related business
enterprise.

Example: An auditor who has learned auditing and management advisory

skills in a prominent auditing firm can start an entrepreneurial work. venture
by opening his or her own auditing office.
Another example: A good engine mechanic who has worked in a leading
car manufacturer may find it appropriate to open his or her vehicle repair

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 -​ Believed that atoms is somehow like a billiard ball
-​ Atoms are indivisible, therefore, not dividable (we can't
divide atoms)
-​ Atoms are the smallest particle of matter

Physical Science Notes (⁠●⁠_⁠_⁠●⁠)

❖​ JOSEPH JOHN THOMSON (1904)
Lesson: CHEMISTRY ●​ Plum Pudding Model
-​ Atoms are like a cake or pudding, where;
Chemistry deals with: Cake/Pudding = positively charged subatomic particle
●​ Composition of matter Topping/Icing = negatively charged subatomic particle
-​ what's inside of matter -​ Disproved Dalton’s theory, as it shows that atoms can be
-​ chemical formulas broken apart into smaller subunits or subatomic particles
●​ Properties of matter (electrons, protons, neutrons)
●​ Structure of matter ●​ Cathode Ray Tube Experiment
●​ Energy which accompanies change -​ He discovered electrons
-​ He found out that the subatomic particles “electrons” have a
THALES of Miletus negative charge.
●​ Believed that “everything is made up of water”
-​ Meaning, every process will not function without ❖​ ERNEST RUTHERFORD (1911)
water. ●​ Gold Foil Experiment
●​ However, this has been disproved by scientists. (atomism) -​ Discovered the nucleus
ATOMISM -​ Believed that there are “protons” inside the atoms
●​ Developed by Democritus, a Greek philosopher. -​ Electrons are outside the nucleus
-​ Nothing exists except atoms and empty space. -​ Atoms are mostly empty space, with the positive charge
●​ Democritus sees the world as composed of groups of (protons) concentrated in a nucleus.
“atoms”.
-​ Atom = indivisible in Greek
❖​ NIELS HENRIK DAVID BOHR (1913)
●​ Atoms are the building block of matter.
●​ Bohr Model / Planetary Model
-​ The first successful atomic model
EVOLUTION OF ATOMIC THEORY -​ Atoms are like planet
❖​ JOHN DALTON (1803)
●​ Solid Sphere Model / Billiard Ball Model

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 -​ Atoms have an orbit, and electrons revolve around
that orbit.
-​ To get the maximum number of electrons in an orbit;
Formula: 2n²
where n is the orbit of energy level
Example:

SUBATOMIC PARTICLES
Comparison of the Proton, Neutron, and Electron

Particle Charge Mass ( amu)

Protons Positive (+1) 1.0073

❖​ ERWIN RUDOLF JOSEF ALEXANDER
SCHRÖDINGER (1926) Neutrons None (Neutral) 1.0087
●​ Electron Cloud Model /Quantum Mechanical Model of
Electrons Negative (-1) 5.486×10-4
Atom
-​ Describes electrons as existing within a probabilistic, ●​ Protons and Electrons have essentially the same mass (1)
cloud-like region around the nucleus, rather than in fixed ●​ The mass of an electron is so small we ignore it (0)
orbits. -​ 0.0005486
-​ Nucleus is in the center -​ Protons and Neutrons - found in the nucleus
-​ Electrons are in the “cloud” -​ Electrons - travels around the nucleus
●​ Particles (such as electrons) are small and fast and ATOMIC MASS
we can't pinpoint its exact location. ●​ Atoms have extremely small masses
●​ Mass scale on the atomic level is used, where an atomic
mass unit (amu) is the based unit.
-​ unit is amu
1 amu = 1.66054 × 10-24
It has 23 zeros in the standard form, meaning it is very light.

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 CHEMICAL BONDS
ELEMENTS ●​ A bond results from the attraction of NUCLEI for
-​ Considered an atom ELECTRONS. wowers
Standard form: ●​ All atoms are trying to achieve a stable octet
-​ A stable octet has 8 electrons in the last orbit.
-​ 8 electrons = balanced

TWO MAJOR TYPES OF BONDING

★​ IONIC BONDING
●​ Forms ionic compounds transfer of e-
Formulas:
●​ Formed between metals and nonmetals.
Z = Atomic Number
[Metals] + [Non-Metals] = Ionic Bond
p = Protons
Metals = Loses Electrons
e = Electrons
Non-Metals = Gains Electrons
A = Atomic Mass
Electrons = Protons (Neutral)
Z=p=e Electron < Proton (Positive)
n=A-p Electron > Proton (Negative
A=p+n ★​ COVALENT BONDING
●​ Forms molecules sharing e-
Isotope atoms - Mass will change as well as the neutrons
●​ Pairs of e- are shared between non-metal atoms.
Example: The three isotopes of carbon have atomic masses of 12, 13,
and 14 and are named Carbon-12, Carbon-13, and Carbon-14.
Therefore, if the mass changes, the number of neutrons would also
change (refer to the formulas).

THE PERIODIC TABLE OF ELEMENTS

●​ Rows - PERIODS
●​ Columns - GROUPS
~ Hydrogen and Helium are the first elements according to Big
Bang Theory.
●​ Elements in the same groups have similar chemical energy

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 2H2 + O2 → 2H₂O

LAW OF CONSERVATION OF MASS

In a chem. rxn, matter is neither created nor destroyed.
-​ In other words, the number and type of atoms going INTO a rxn
must be the same as the number and type of atoms coming OUT.
-​ If an equation obeys the Law of Conservation, it is balanced.
An Unbalanced Equation

Lesson: BALANCING CHEMICAL EQUATIONS

Chemical equation - Describes a chemical change. Parts of an RULES OF THE GAME
equation: 1. Matter cannot be created or destroyed.
2Ag + H₂S ——>Ag2S + H2 2. Subscripts cannot be added, removed, or changed.
Reactant Product 3. You can only change coefficients.
——> = yields 4. Coefficients can only go in front of chemical formulas
REACTANTS AND PRODUCTS NEVER in the middle of a formula.
●​ Reactant - The chemical(s) you start with before the reaction. -​ A few extra tips:
-​ Written on the left side of the equation. ●​ Try balancing big formulas first; save free elements for last. If the
●​ Product - The new chemical(s) formed by the reaction. same polyatomic ion appears on both sides of the equation, it's
-​ Right side of the equation. usually okay to treat it as one unit.
●​ There is no one particular way to balance equations. Some
SUBSCRIPTS AND COEFFICIENTS equations are harder to balance than others and might require some
●​ Subscript - shows how many atoms of an element are in a creativity to solve.
molecule.
-​ Example: H₂O
-​ 2 atoms of hydrogen (H)
-​ 1 atom of oxygen (0)
●​ Coefficient - shows how many molecules there are of a particular
chemical.
-​ Example: 3H₂O
-​ Means there are 3 water molecules.
A CHEMICAL REACTION

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