ENTREPRENEURSHIP

MODULE 1
6.53

Prepared by:
Milette M. Castañeda
02/15/2023

Learning Competency:
• Discuss the relevance of the course and Explore Job
opportunities for Entrepreneurship as a career
 LEARNING OBJECTIVES
At the end of this module, you are expected to:
1. discuss the relevance of entrepreneurship in general,
including its economic importance;
2. define entrepreneur;
3. explain the key concepts of common and core
competencies in entrepreneurship;
4. describe clearly entrepreneurship and employment;
5. explore opportunities for entrepreneurship as a career.

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An entrepreneur is successful
if the business that he or she
envisioned has materialized
into thriving industry with
regular customers and financial
gain.
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HERE ARE THE SOCIETAL AND ECONOMIC
BENEFITS OF ENTREPRENEURSHIP.

1. Entrepreneurship provide job opportunities.

When people start a new business, they

will need additional people to support and develop
the business, along with that It means, the job
opportunities will increase and people who don’t
have a job before will have a chance to have a career.

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2. Entrepreneurship add national income.
As we are creating new business, it will also create
opportunities for people. On the other side, another effect of
increased employment is higher earnings contribute to better
national income in the form of higher tax revenue and higher
government spending.
3. Entrepreneurship create social impact.
Why social impact? It has a unique way of offering goods
and services which able to break the condition by developing
People to be open-minded about what happened to the world since
it needs to know the trends of the world.
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4. Entrepreneurship create new business.
The trends always change. It will make entrepreneurs
update their business and system to maintain their business.
People’s demand will always change and getting bigger, by this it
will also give chance to people to create their own business.

5. Entrepreneurship increases economic activities of

different sectors of society.
A simple eatery in a rural area and a coffee shop in an
urban area both ignite economic activity regardless of their
business scale.
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6. Entrepreneurship introduces new and innovative
products and services.

New products and services are always available in the

market because of creativeness of entrepreneurs to seek
opportunities and improve on them.

7. Entrepreneurship improves people’s living standards.

How can you look good if not for the services of your
nearby salon or barber shop? How can your day be
complete without the food that a nearby eatery cooks?
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8. Entrepreneurship disperses the economic power and
creates equality.
It balances the economy by distributing national income
to more businesses rather than to only few monopolies.

9. Entrepreneurship controls the local wealth and

balances regional development.
It makes sure local resources are used properly and
that every area has an appropriate allocation of resources.

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10. Entrepreneurship reduces social conflicts and political
unrest.
Imagine if there are no or only few sari-sari or
supermarket stores in your area. All of you will then fight
for the food supplies because the store cannot supply all your
needs.

11. Entrepreneurship elicits economic independence and

capital formation.
A country with more entrepreneurs is highly likely to
become financially independent and will less likely need
the help of other countries.
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WHO IS AN ENTREPRENEUR?
An entrepreneur is an individual who creates a new
business, bearing most of the risks and enjoying most of the
rewards. The entrepreneur is commonly seen as an
innovator, a source of new ideas, goods, services, and
business/or procedures.
Entrepreneurs play a key role in any economy, using
the skills and initiative necessary to anticipate needs and
bring good new ideas to market.
Entrepreneurs who prove to be successful in taking on
the risks of a startup are rewarded with profits, fame, and
continued growth opportunities. 12
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Seatwork#1
1. Give One famous Entrepreneur that you
know, give what is his or her product and
explain what are the societal and
economic benefit of it in our country?

2. Write your answer on you notebook.

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HOMEWORK:
1. What are the five levels of
entrepreneurial development?
2. What are the common and Core
Competencies of Entrepreneurship?
3. What are the different Careers in
Entrepreneurship?

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According to Action Coach (Business Coaching
Firm), there are five levels of entrepreneurial
development.

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 t out as
pl e star e self-
e ss-peo becom
st busin ho then
Mo yees w
lo
emp yed
lo
emp
Five levels of entrepreneurial
development.

1. The self-employed. Those who want a greater

sense of freedom, along with more responsibility and
control over their lives, typically make the jump from
employee to self-employed.
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2. The manager. When a business grows, the owner typically
needs to hire some help. This is the stage when tasks can be
delegated to others. However, the mistake that most people
make at this level is hiring the wrong people or not providing
adequate training for the people that they hire.

3. The Owner/Leader. The next step in the journey is

becoming the owner and leader of the business.
Entrepreneurs get to this level by hiring people they
trust to manage the business and maximizing profits.

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4. The Investor. When a business can run profitably on its
own, then the owner can become an investor. As an investor, a
business owner can make more money selling businesses rather
than running them. They achieve this by buying businesses,
building them up, and then selling them to other people.

5. The Entrepreneur. This is the level where true capitalists

operate. At this level, entrepreneurs make money by raising
capital and they use other people’s money to build paper assets
(like stocks, shares, franchises, licenses, and royalties). Think of
it this way: True entrepreneurs use other people’s money to make
money. Being at this level is the ultimate goal of every business
owner. 19
 1. Entrepreneurship
_________ is a proactive process of developing a
business venture to make a profit.
# 1 2. Entrepreneurship
__________is the process of discovering new ways of
UI Z combining resources.
Q 3. _________
Entrepreneur
1. Provide job opportunities
a person who undertakes the
2. Add national risk
income of
3. Create social impact
starting a new business venture. 4. Create new business
5. Increase economic activity
4 – 8 give the 5 levels of entrepreneurial development.
6. Introduce new product and services
(in order from level 1 to 5) 7. Improve peoples living standard
8. Create equality
9 – 10 give 2 societal and economic benefits
9. Control of and balance
local wealth
entrepreneurship regional development
10. Reduces social conflicts
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Common and Core
Competencies of
Entrepreneurship
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 Here are the common traits that entrepreneurs
should always have.
1. Proactive. Entrepreneurs are reactive rather than passive.
They address issues, problems, and challenges before they
come rather than when they already happened.

2. Agents of change. Entrepreneurs are innovation

champions. They see opportunities in hopeless and
complex situations.
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3. Risk takers. Entrepreneurs will not be successful if
they do not take risks.

4. Have a sharp eye for opportunities. Entrepreneurs

have a talent for recognizing an opportunity even by using
the macro level data only.

5. Sociable. Soft skills are one of the most important

competencies of entrepreneurs as these establish the
relationship with the most important assets of the company
– its people and its customers.
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6. Networkers. A networker knows the key people to connect
with. Networking can be a very intimidating task, for it takes
a lot of guts to pull it off.
7. Decisive. Entrepreneurs always have a decision about their
business. They do not settle for gray areas or unclear solutions.
They do not leave an issue unsolved without a disposition.

8. Balanced. The minds of entrepreneurs should have a balance

between the analytical and the creative side.
9. Innovative. The minds of entrepreneurs are rich with big
ideas that can add value to their existing business or could
become a game changer in the industry or business where they
belong. 24
 1. Leaders
Here are the
core traits that
entrepreneurs 2. Communicators
should develop
in managing 3. Specialists
and running the
business.
4. Problem Solvers
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 Entrepreneurship or
Employment?

Entrepreneurship and Employment are two different career

paths that a person can choose depending on his or her
personal aspirations and work characteristics.
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No successful business started huge right away. A business
starts with an idea. Once the business is established, the business
owner, the entrepreneur, can choose to expand and explore
franchising.
Intrapreneurship (managing a startup business in an established
business), and
Acquisition (buying another similar business or a new business).
Franchising is a business arrangement wherein the franchisor,
who is the owner of the business, acquires distribution centers
through the franchisees or the affiliated dealers.

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Listed below are Entrepreneur Philippines’ franchise
business options in the Philippines, which a potential
entrepreneur can pursue after college or even after finishing
the K to 12 program.

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 R K#
T W O
S E A
2

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PERFORMANCE TASK #
1

You need to bear in mind the critical factors that led to the
success of these entrepreneurs. This activity will help you
realize what these entrepreneurs went through to succeed.
You will be graded by your teacher based on the
completeness, accuracy, and presentation of your interview
results. 37
 M EN T
S SI G N
A L E 2)
M O D U
(
Be ready for
Summative Test #1
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 THANK
YOU

7/1/20XX Pitch deck title 39