Entrepreneurship

Entrepreneurship: Business, Money, and

Growth

Personal Entrepreneurial Competencies

Environment and Market (SWOT Analysis)

 Why do we need to study ENTREPRENEURSHIP?
The K to 12 Program covers:
Kindergarten and
12 years of basic education
 six years of primary education,
 four years of Junior High School, and
 two years of Senior High School
• to provide sufficient time for mastery of concepts and
skills,
• develop lifelong learners, and
• prepare graduates for tertiary education, middle-level
skills development, employment, and entrepreneurship.

It is one of the salient features of the

K to 12 Curriculum
LESSON 1 ENTREPRENEURSHIP
Business, Money, and Growth

The Development of Circulation of Money

Terms Meaning of Terms

1. Money Anything accepted as a medium of exchange

2. Trader One who engages in business or commerce
3. Barter To give in exchange for something
4. Resources Supplies and materials
5. Market The user or consumer of the product
ACTIVITY 1
Do you know that the circulation of money started in very early times?
Traders then used a system of exchange different from the present.
The illustration below has something to do with the practice of money
circulation. Write something about the pictures inside the circles.
THE DEVELOPMENT AND CIRCULATION OF MONEY (brief explanation)

traders
During the early times, _____________ of
exchange goods with other tribes.
one tribe _____________

export
Later on, _____________ import
and _____________
of goods among nations came into being. The
practice is called world
“_____________
trade
_____________”.

These activities in the past refer to the

barter
“_____________ economy
_____________” because people
traded goods with other goods for their use.
currency
Today, we use money or “_____________” to
pay for goods and services. This practice is called
money
“_____________ economy
_____________”.
Self-check
Matching type: Match Column A with Column B. Write the letter of the correct
answer on the space before each number.

A B
b The beginning of money circulation
_____1. a. Currency
d Export and import of goods among nations
_____2. b. Trading
a The other term for “money”
_____3. c. Money Economy
c The system of exchange of goods and services d. World Trade
_____4.
in terms of money e. Barter Trade
e Goods and services traded for other goods
_____5.
Phrase Completion
Complete the phrases below.

I learned that… I realized…

I enjoyed… I got confused about…

THE GROWTH OF THE ECONOMY
Theories That Explain Economic Growth
1. Law of Nature A society or culture is like a living thing that grows, lives,
Theory and dies and is a part of life thus, something is expected
Spingler, 1932 to happen.

2. The Invisible Hand As individual seek to work for their own welfare, they
unknowingly promote what is best for the community
Theory
Adam Smith, 18th
and the society. As if they are being moved by an invisible
century hand to promote the development of all.

3. Climatic Condition Climatic conditions determine the energy level of the

Theory people as well as the rate of development.
Ellsworth
Huntington, 1915
Theories That Explain Economic Growth
4. Laissez-Faire Non-interference of the government to economic
Theory activities and confining their efforts only to education,
justice, and public works. It is a French word which
means economic freedom.

5. People engage themselves in some entrepreneurial

Socio-psychological activities because of self-interest.
Theory
6. The contact of a less developed society to a more
developed one with the latter is influencing the other.
Cultural Diffusion
7. Theory The greater the population, the greater the demand, the
Anthropologist most likely entrepreneurs need to invest.
Keynesian Theory
J.M. Keyness
Theories That Explain Economic Growth
8. Sociological Societies which put value on hard work are bound to be
Theory economically developed.
Max Weber, 1904
9. The application of modern technology in producing
Kaldor Theory goods and services of highly developed countries lessens
Nicholas Kaldor the time, capital and effort in working.

10. Agriculture is the key factor to development because we

believe that everything in this world comes from land.
Ricardian Theory
David Ricardo
ACTIVITY 2
Using the box below, create a poster that shows the general economic
situation of the Philippines.

Rubric for Poster Making

Legend: PS – Perfect Score TS – Teacher’s Score
CRITERIA PS TS CRITERIA PS TS
Relevance 10 Creativity 6
Presentation 8
Perfect Score 30
Layout & Design 6
SOCIO-ECONOMIC BENEFITS FROM
ENTREPRENEURSHIP
The following are the benefits we get from entrepreneurship:

1. Entrepreneurship creates employment.

2. Entrepreneurship improves the quality of life.
3. Entrepreneurship contributes to a more equitable
distribution of income.
4. Entrepreneurship utilizes resources.
5. Entrepreneurship brings social benefits through the
government.
Self-check:
How does the government return the revenues it collects from the
people?

Points to Remember

●
Knowledge of the different theories of economic growth will explain why there are
countries that are more developed and less developed.
●
Cooperation, coordination, and commitment when working in a group contribute a lot
to success of all undertakings.
 LESSON Personal Entrepreneurial Competencies
2 (PECs)

Entrepreneurship
_________________________________
A Process of creating new things by making use of indigenous materials
found in our surroundings. It is also a process of innovation through four
major dimensions: individual, organization, environment, and process.

Entrepreneurs
_________________________________
Are people who seize opportunities, systematically act on new things
to become marketable so that they can compete in today’s economic society.
We recognize these people because they possess the characteristics and
qualities which make them different from others.
 Clusters of PECs
Personal entrepreneurial characteristics are grouped into three:

Achievement Cluster Planning Cluster Power Cluster

1. Opportunity-seeker 1. Goal-setter
1. Persuasive and
2. Persistent 2. Information-seeker networks
3. Committed to work 3. Systematic planner 2. Self-confident
contract and monitoring
4. Risk-taker
5. Demands for quality
and efficiency
Characteristics of an entrepreneur under the Achievement Cluster:

1. Opportunity-seeker
a. Seizes and acts on new business opportunities.
b. Seizes unusual opportunities to obtain financing, equipment, land,
work space or assistance.

2. Persistent
a. Takes repeated or different actions to overcome obstacles to his goals.
b. Makes a personal sacrifice or exerts extraordinary effort to complete a
job.
c. Sticks to his own judgment in the face of opposition
d. Demands for quality and efficiency

3. Risk-taker
An entrepreneur always takes chances but doesn’t gamble his or her
money. He or she estimates the risks involved and assesses his or her total
resources. He or she then makes preferences for situations that are
moderately risky.
Characteristics of an entrepreneur under the Planning Cluster:

1. Goal-setter
1.1. Sets clear and specific short-term goals
1.2. The following should be remembered in setting goals:
a. Be realistic,
b. Be self-reliant,
c. Prioritized your goals,
d. Focus on positive objectives.
e. Goals must also be – SMART

2. Information-seeker
a. Personally seeks information on prospective buyers or clients, supplies,
and competitors.
b. Seek information on cheaper, higher quality sources of raw materials.
c. Consults experts and experienced entrepreneurs.
d. Uses contacts or information networks to obtain useful information.
Characteristics of an entrepreneur under the Planning Cluster:

3. Systematic Planner
a. Develops and uses logical step-by-step plans to reach goal.
b. Evaluates alternatives or various courses of action.
c. Monitors or follows up progress and switches to alternative
strategies when necessary.
Characteristics of an entrepreneur under the Power Cluster:

1. Persuasive and networks

a. Uses deliberate strategies to influence or persuade others.
b. Uses business and personal contacts to accomplish own
objectives.

2. Self-confident
a. Strongly believes in his or her own ability.
b. Expresses confidence in his or her own ability to complete
a difficult task or meet a challenge.
 Journal Entry

Reflect and write your ideas to the question: Is an entrepreneur born or made?
LESSON BUSINESS ENVIRONMENT AND MARKET
3 (SWOT Analysis)

Business
_________________________________
An organized activity that produces and sells goods and services.

Business Environment
Tangible Factors Intangible Factors
1. Land Area 1. Subculture
2. Physical Layout & Barrier 2. Industry Trends
3. Building Obstructions 3. Economic & Government
4. Transportation Network Activity
5. Demography of Client & 4. Political Situations
Suppliers
6. Competitors in the Locale
7. Available Technology
8. Climate
 Natural & Physical Demography
Potential target, Client,
Environment
Migration pattern
Living conditions,
Facilities, & Barrier

Government
Regulations
YOUR Culture
Policies BUSINESS Subculture, Race,
Emotional environment

Economy
National Technology
International Trend
- Competitors Production
SWOT ANALYSIS
Types of Business Industries
1. Product Entrepreneur manufactures their own product.
Agriculture products are also a specialized form of this
Industries type of business industries.
2. Entrepreneurs perform only one or two operations in
Process an entire manufacturing process. They either
Industries concentrate only on furnishing a certain product, in
performing the initial operations, or in adding a
certain attachment to a finished product that required
a certain skill which only they can fill.
3. The small company contract out to bigger company
depending on what specific product they will make.
4. Subcontracting This type of business offers a service or series of
Industries services.
5. Service This is sometimes considered as a service industry,
selling in bulk or in small quantities (repacked).
Enterprises
Wholesale and
Retail Enterprises
Entrepreneurship in the Context of Small and Medium Scale
Industries
TYPE OF SMALL ENTREPRENEURHIP DISCRIPTION
The owner heads the enterprise and
1. employs one or two individuals to help
Micro-business him/her.
Owned and managed by an individual or
2. group with only enough resources to
Small business continue its operations.

Owned and operated by a single person,

3. two business partners or a corporation.
Medium business
Self-check
Following the foregoing presentation, fill out the table below.
A. Classify the following examples of business industries.
Business Industries Type of Business Industries
1. Honda
2. Shop Rite Grocery Store
3. Mico’s Barber Shop
4. Jollibee Food Corporation
5. Monica’s Catering
6. Chook’s to Go
7. Jerome’s Computer Shop
8. Kristal’s Garment Factory
9. Ivy’s Sari-Sari Store
10. NIDEC Electronic Company
B. List down 3 examples for each type of small entrepreneurship.
1.
Micro-business 2.
3.
1.
Small business 2.
3.
1.
Medium business 2.
3.