Republic of the Philippines

Department of Education
REGION VIII – EASTERN VISAYAS
Division of Northern Samar
CATARMAN NATIONAL HIGH SCHOOL
Senior High School Department

ENTREPRENEURSHIP
Quarter 1 – Module 1 (Week 1-2)
Introduction to
Entrepreneurship
After reading this module, you should be able to:

1. Define the terms entrepreneurship and entrepreneur.

2. Discuss the relevance of the course.
3. Identify the factors affecting Entrepreneurship
4. Explain the key concepts of common competencies in
Entrepreneurship.
5. Explain the core competencies in Entrepreneurship.
6. Identify the types of Entrepreneurs
7. Explore job opportunities for Entrepreneurship as a career.
8. Demonstrate interest on entrepreneurship in everyday life and to
the society as a whole.

CORAZON P. DINO
Subject Teacher

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Introductory Message
For the Learner
Have you ever dreamed of becoming the next multi-millionaire? If
you’re thinking that winning the lottery is the only way to become one. Well,
think again. It is not chances that give you millions, instead being a
millionaire is a result of hard work and determination. Starting your own
business is a good start towards fulfilling your dreams. Entrepreneurship is
the way!

You may often hear the word entrepreneur and entrepreneurship. But
what does it really mean? You may refer to an entrepreneur as the person
managing the business and entrepreneurship as the business venture.
Some may say there is no difference.

So, what does this module provide you towards reaching your dreams?

1. It outlines the concepts and basic principles, and processes of

developing a business plan.
2. It helps you understand the environment and market in your
locality as a factor in developing a business concept.
3. It allows you to experience starting and operating your own
business.

Substantial knowledge of entrepreneurial principles and processes is

important as this increases the chances of making your business successful.

Businesses are the backbone of the economy. Entrepreneurs plays an

important role in developing the economy through providing the needed
products and services including the solution to the problem of
unemployment.

Entrepreneurs are encouraged by the economy because they can

provide a lot of opportunities for the unemployed young people. It will
increase in per capita income, higher standard of living and increased
individual saving, revenue to the government in the form of income tax,
value added tax, export duties, import duties, and balanced regional
development.

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Lesson 1 Introduction to Entrepreneurship

In going through the module, you have to extend your patience in

understanding, analyzing what you are reading. Follow the directions and/or
instructions in the activities. Answer the entire given test and exercises
carefully. Comply the required activities provided.

Meaning of Entrepreneurship and Entrepreneur

(www.investopedia.com, www.reference.com, www.europeanentrepreneurship.com)

The word “entrepreneur” was derived from the French verb

enterprendre, which means “to undertake.” This is pinpointing to those
who “undertake” the risk of enterprise. The enterprise is created by an
entrepreneur and the process is called “Entrepreneurship.”
Entrepreneurs are innovators, willing to take risks and generate new ideas
to make it unique and profitable solutions to the present-day problems.
Entrepreneurship – This is an act of creating a business or businesses
while building and scaling it to generate a profit. It is 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. It is
about building a life on your own terms. No bosses! No restricting
schedules! And no one holds you back! (Batalla 2011).
An entrepreneur is… A person who sets up a business with the aim of
making a profit and creating 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 (Batalla 2011).

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, instils 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.

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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.

* Please refer to your answer sheet and answer Activity 1

Factors Affecting Entrepreneurship

1. Personality Factors which includes:
a. Initiative - which means doing things even before being told.
b. Proactive -which means he can classify opportunities and seize
it.
c. Problem Solver - which means he can retain good relations with
other people.
d. Perseverance - meaning he will pursue things to get done
regardless of challenges.
e. Persuasion - means that he can entice people to buy even if
they don’t.
f. A Planner - meaning he makes plan before doing things and do
not fail to monitor it.
g. Risk-taker - which means that he is willing to gamble but he will
calculate it first.
2. Environmental Factors which include political, climate, legal system,
economic and social conditions and market situations.

Common Competencies in Entrepreneurship

1. Decisive - an entrepreneur must be firm in making decisions.
2. Communicator - an entrepreneur must have a convincing power.
3. Leader - an entrepreneur must have the charisma to be obeyed by his
employees.

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4. Opportunity seeker - an entrepreneur must have the ability to be the
first to see business chances.
5. Proactive - controlling a situation by making things to happen or by
preparing for possible future problems.
6. Risk Taker - they have the courage to pursue their business ideas.
7. Innovative - the entrepreneurs have big business ideas and they do
not stop improving and thinking of new worthwhile ideas for their
business.
Core Competencies in Entrepreneurship

1. Economic and dynamic activity - Entrepreneurship is an economic

activity because it involves the creation and operation of an enterprise
with a view to creating value or wealth by ensuring optimum utilization
of limited resources.
2. Innovative - Entrepreneurs constantly look for new ideas, thus he
needs to be creative.
3. Profit Potential - The entrepreneur can be compensated by his profit
coming from the operation.
4. Risk bearing – The entrepreneur needs to gamble but wise enough to
offset the risk.

Types of Entrepreneurs

1. Innovative entrepreneur - They are those who always make new

things by thinking of new ideas. They have the ability to think newer,
better and more economical ideas.
2. Imitating entrepreneurs - They are those who don’t create new
things but only follow the ideas of other entrepreneurs.
3. Fabian entrepreneurs - They are skeptical about changes to be
made in the organization. They don’t initiate but follow only after they
are satisfied.
4. Drone entrepreneur - They are those who lives on the labor of
others. They are die-hard conservatives even ready to suffer the loss
of business.
5. Social entrepreneurs - They are those who initiate changes and
drive social innovation and transformation in the various fields such as
education, health, human rights, environment and enterprise
development.

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Career Opportunities of Entrepreneurship

1. Business Consultant - with the expertise of in the field of

entrepreneurship, he can be a very good source of advices to other
entrepreneurs and would be business man.
2. Teacher - a graduate of an entrepreneurship can use his knowledge
in teaching.
3. Researcher - the entrepreneur can be employed as researcher by an
enterprise.
4. Sales - the entrepreneurship graduate can apply as salesman.
5. Business Reporter - the entrepreneur being expert in the field, he
can be employed as business reporter.

* Please refer to your answer sheet and answer Activity 2

References:

Mamigo, A. (2020) Quarter 1 – Module 1: Lesson 1-ENTREPRENEURSHIP;

Relevance of entrepreneurship, Department of Education –Region VII
Schools Division of Negros Oriental. Kagawasan, Ave., Daro, Dumaguete
City, Negros Oriental

Alternative Delivery Mode (2020). Entrepreneurship Quarter 1 – Module 1

Introduction to Entrepreneurship, Zone 1, Upper Balulang Cagayan de Oro
City 9000

Prepared by:

CORAZON P. DINO
Subject Teacher