Quarter 1 — Module 1

Introduction to Entrepreneurship
Entrepreneurship – Grade 12
Alternative Delivery Mode
Quarter 1 - Module 1
Second Edition, 2021

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Borrowed materials included in this module are owned by the respective copyright holders. Effort
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Development Team of the Module:

Authors: Joel Y. Yacas Janice B. Dominguez

Naneth M. Valdehuesa Ronee D. Quicho
Mary Cris A. Maquilan Marylinda T. Puzon
Charity E. Parel Denver E. Neri
Lorena Fe S. Anub Ethel Lalaine B. Morales
Evaluators: Cherryl F. Descallar
Eddy Lou T. Hamak
Sherriemae V. Reazol
Illustrator: PSSg Edzel M. Dominguez

Management Team:
Chairperson: Dr. Arturo B. Bayocot, CESO III
Regional Director
Co-Chairpersons: Dr. Victor G. De Gracia Jr., CESO V
Asst. Regional Director
Mala Epra B. Magnaong
CES, CLMD
Members: Dr. Bienvenido U. Tagolimot, Jr.
Regional ADM Coordinator
Elson C. Jamero
EPS-Designate-TLE

Printed in the Philippines by: Department of Education – Regional Office 10

Office Address: Zone 1, Upper Balulang Cagayan de Oro City 9000
Telefax: (088) 880-7071, (088) 880-7072
E-mail Address: [email protected]

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Entrepreneurship
Quarter 1 – Module 1
Introduction to
Entrepreneurship

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 TABLE OF CONTENTS

Introductory Message …………………………………..... 15 3

What I Need to Know ………......................................... 27 5
What II Know
What Know ……….........................................
………......................................... 38
6
What’s In …….…........................................ 4
Introduction to Entrepreneurship…........................................ 9 7
What’s New …. …........................................... 4
Relevance of Entrepreneurship to an Organization ……. 10
What Is It ……………………………………. 4
Concepts of Entrepreneurship …........................................... 10
What’s More ………......................................... 8
Factors Affecting Entrepreneurship ……….................... 10
What I Have Learned ………......................................... 8
Common Competencies in Entrepreneurship ………......... 11
What I Can Do ………......................................... 9
Core Competencies in Entrepreneurship ……….................. 11
9
Assessment ……….........................................
Types of Entrepreneurship ….……......................................... 12
11
Additional Activities ……….........................................
Career Opportunities of Entrepreneurship ………......... 12
12
Answer Key ……….........................................
What’s More ………......................................... 13
13
References ……….........................................
What I Have Learned ………......................................... 13
What Can I Do ………......................................... 14
Assessment ………......................................... 14
Additional Activities ………......................................... 16
Answer Key ………......................................... 17
References ………......................................... 18

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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 chance that gives you millions, instead being a millionaire is a result of hard work
and determination. Starting your own business is a good beginning towards fulfilling
your dreams. Entrepreneurship is the way!
You may often hear the word entrepreneur and entrepreneurship. But what do
these terms 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.
In this module, you are guided with a set of learning parts that will help you
understand the underlying principles of entrepreneurship.

1. What I Need to Do – the part used to introduce the learning objectives in this
module.

2. What I Know – this is an assessment as to your level of knowledge to the subject

matter at hand, meant specifically to gauge previous knowledge.

3. What’s In – the part used to connect your previous learning with the new lesson.

4. What’s New – the part used to introduce new lesson through a story, an activity,
a poem, song, situation or activity.

5. What is It – the part that will help you discover and understand entrepreneurial
concepts.
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 6. What’s More – the part that will help enrich your learnings of entrepreneurial
concepts.

7. What I Have Learned – the part that will help you process what you have learned
In the lesson.

8. What I Can Do – the part that allows you to apply what you have learned into real
life situations.

9. Assessment – the part that evaluates your level of mastery in achieving the
learning objectives.

10. Additional Activities – the part that enhances your learning and improves your
mastery of the lesson.

This module will help give you all the essentials needed in your entrepreneurial
journey.

What I Need to Know

Businesses are the backbone of the economy. Entrepreneurs play an important

role in developing the economy through providing the needed products and services
including the solution to the problem of unemployment.
Entrepreneurship is encouraged by the economy because it can provide a lot
of opportunities for the unemployed people. It will increase per capita income, improve
standard of living and increase individual savings, provide revenue to the government
in the form of income tax, value added tax, export duties, import duties, and balanced
regional development.

After reading this module, the learners should be able to:

1. discuss the relevance of the course;
2. explain the key concepts of common competencies;
3. explain the core competencies in Entrepreneurship; and
4. explore job opportunities for Entrepreneurship as a career.

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 In going through the module, you have to extend your patience in understanding
and analyzing what you are reading. Follow the directions and/or instructions in the
activities. Answer the given tests and exercises carefully. Comply the required
activities provided.

What I Know

Before starting with this module, let us see what you already know about
Entrepreneurship. Answer the questions below.

Instruction: Read the statements carefully then write True if the statement is correct
& write False if you think the statement is not correct.
1. Entrepreneur means “to undertake.”
2. Entrepreneurship is a process of actions of an entrepreneur who is
always in search of opportunities.
3. The greatest significance of entrepreneurship is to help
identify and develop the managerial capabilities of entrepreneurs.
4. Entrepreneurship will lead to the creation of organizations.
5. Entrepreneurship can improve the life of the entrepreneur only.
6. Coward people will become successful entrepreneurs.
7. An entrepreneur is a “Risk Taker”.
8. Entrepreneurship is not an economic activity.
9. Entrepreneurs are innovative.
10. Profit potential is the compensation of the entrepreneur.
11. An entrepreneur can become a business consultant.
12. An entrepreneur can also be a researcher.
13. An entrepreneur can also become a salesman.
14. Entrepreneurship graduates can become business
reporters.
15. The entrepreneur could easily see the results of his efforts.

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 Lesson
Introduction to Entrepreneurship
1

What’s In

Before we will proceed to our lesson, can you tell me what comes into your
mind when you hear the word Entrepreneur? Write it on your activity notebook. (All
answers will be accepted)

What’s New

Activity 1. Let Me Know

Give at least five (5) names of entrepreneurs that you know, may it be from your
locality or within the Philippines. Identify what are their common traits as
entrepreneurs. Write it on your activity notebook and submit it to your teacher.

What is it?

Competencies of Entrepreneurs

Activity 2. Essay

Explain the following questions below about the competencies of

entrepreneurs.

1. What characteristics can you observe or see that are common among the
entrepreneurs that you have listed?

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 2. Who among the entrepreneurs that you mentioned do you admire the most
and why?
3. In your own opinion, what do you need to possess to become a successful
entrepreneur?

RUBRIC FOR ESSAY

Content The content was well-thought, guide 4
questions were thoroughly answered
Organization The paper was well-written with ideas 3
easily conveyed to readers.
Development Points are thoroughly developed 3
TOTAL 10

RELEVANCE OF ENTREPRENEURSHIP TO AN ORGANIZATION

1. Development of Managerial Capabilities - this means that one of the benefits

an entrepreneur gets is to develop his managerial skills.
2. Creation of Organizations - which means that because of entrepreneurship
many organizations will exist.
3. Improving Standard of Living - this means that entrepreneurship can lift up the
economic status of an individual.
4. Means of Economic Development - this means that not only the life of the
entrepreneur is improved but also the society where the business is located.

Concept of Entrepreneurship
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. They are willing to take the risks and generate
unique ideas that can provide profitable solutions to the needs of the market and the
society.

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Factors Affecting Entrepreneurship

1. Personality Factors which include:

a. Initiative - 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 want to.
f. A Planner - he makes plans before doing things and does 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.
4. Opportunity seeker - an entrepreneur must have the ability to be the first to
see business chances.
5. Proactive – an entrepreneur can control a situation by making things happen
or by preparing for possible future problems.
6. Risk Taker – an entrepreneur has the courage to pursue business ideas.
7. Innovative - the entrepreneur has big business ideas and he does not stop
improving and thinking of new worthwhile ideas for his 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.
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 2. Innovative – The entrepreneur constantly looks 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 Entrepreneurs - 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 Entrepreneurs - They are those who live 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.

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 men.
2. Teacher - a graduate of an entrepreneurship can use his knowledge in
teaching.
3. Researcher - the entrepreneur can be employed as a researcher by an
enterprise.
4. Sales - the entrepreneurship graduate can apply as a salesman.
5. Business Reporter - the entrepreneur being expert in the field, can be
employed as a business reporter.

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is What’s More

Activity 3. Self- Assessment

Direction: Find out if you have the qualities of an entrepreneur. Put a check mark on
the column that identifies whether you have the qualities of an entrepreneur or not.

Qualities YES NO
Risk Taker
Communicator
Leader
Opportunity Seeker
Proactive
Innovator
Decisive

Interpretation: If you have more YES than NO, you have the qualities of an
entrepreneur.

What I Have Learned

are people who take the risk, they are innovators and
contributors to the development of the .

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 What I Can Do

Activity 4. Interview the Known

Choose three successful entrepreneurs in your community or nearby places

and conduct an interview using the guide questions below. Discuss the result of your
interview to your teacher.

1. What motivated you to become an entrepreneur?

2. What do you think are your characteristics and competencies that made you
a successful entrepreneur?
3. What do you think of being employed? Why you did not choose that path?

Assessment

Now, that you are finished accomplishing the module, let us check what you have
learned. Answer the questions given below by encircling the letter of the correct
answer.

1. The entrepreneurs who create new ideas are called ______________.

a. Innovative c. Fabian
b. Imitating d. Drone

2. The entrepreneur who lives on the labor of others is called __________.

a. Drone c. Imitating
b. Fabian d. Innovative

3. These are entrepreneurs who are to follow the path shown by innovative
entrepreneurs.
a. Innovative c. Social Entrepreneurs
b. Imitating d. Fabian

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4. Which of the following does not belong to the group?
a. Skills management c. Conduct research
b. Risk taking d. Make no changes with his product
5. Entrepreneur means:
a. Risk taker c. To research
b. To undertake d. To improve standard of living

6. It is a personality factor which means “doing things even before being told.”
a. proactive c. persuasion
b. perseverance d. initiative

7. It is a personality factor which means convincing customers to buy the product.

a. Proactive c. Self-confidence
b. Persuasion d. Risk-taker

8. Which of the choices is NOT part of the environmental factors?

a. Political
b. Weather condition
c. Climate
d. Family background of the manager
9. All except one does NOT belong to the group. Which one is it?
a. Unfair trade practices c. Political protest
b. Strikes d. Product

10. The entrepreneur who is skeptical about the changes in the company is called
a. Fabian c. Drone
b. Social entrepreneur d. Imitating
11. Which is NOT a career for an entrepreneur?
a. Business consultant c. Research and Development
b. Sales d. Domestic Helper

12. They are entrepreneurs who drive social innovation and transformation in various
fields.
a. Drone d. Imitating
b. Social entrepreneur
c. Fabian
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13. Which of the statements below is true?
a. Entrepreneurs have limited career opportunities.
b. Entrepreneurs are prone to constant high income.
c. Entrepreneurs are contributors to the development of the society.
d. Entrepreneurs are the reasons for the unemployment problem.
14. Which of the statements is NOT true?
a. An entrepreneur will patiently wait for his efforts to bear fruit.
b. The profit of the entrepreneur is immediate.
c. All entrepreneurs are successful.
d. Entrepreneurs are researcher.
15. Which of the following is NOT true?
a. Entrepreneurship creates organizations.
b. Entrepreneurs improve the life of the entrepreneur alone.
c. Entrepreneurs improves the economy.
d. None of the choices

Additional Activities

Activity 5. Research Me

Research on the life story of at least three (3) entrepreneurs in your locality;
identify how they started their business. Ask how much was their start-up capital.

Congratulations! You have successfully completed Module 1. Please proceed

to Module 2 and learn about Recognizing a Potential Market.

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Answer Key

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 References

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