Competencies in Entrepreneurship

Lesson
and Job opportunities for
3
Entrepreneurship as a career

EXPECTATIONS
After going through the module, you are expected to:
1. Gain insights about the competencies every Entrepreneur should develop.
2. Explore job opportunities for Entrepreneurship as a career.

You may start your journey in learning more on the

competencies of entrepreneur and the job opportunities for
entrepreneurship as a career . Are you excited to answer the
Pre-test? Smile and Enjoy!

PRE-TEST

DIRECTIONS: To check your prior knowledge about the topic, please list down at least
five (5) competencies in entrepreneurship and five (5) job opportunities for
Entrepreneurship as a career. Write your answer in the space provided.

Competencies in Entrepreneurship Job opportunities for Entrepreneurship as a career

1. 1.
2. 2.
3. 3.
4. 4.
5. 5.
 Learning Module for Entrepreneurship

You have finished answering the pre-test. You may request your
facilitator
/guardianto check your work. Congratulations and keep on
learning!

LOOKING BACK TO
YOUR LESSON

As you go further, let us try to recall about

the conceptof Entrepreneurship.
Entrepreneurshipis a catchword in this era of globalized economy
. It is a foundation

and catalyst for economic growth and innovation across nations (Edralin, D. M., 2016).

Common Elements of Entrepreneurship (Edralin, D. M., 2016):

• Innovation
• Opportunity seeking and exploitation
• Resource mobilizing
• Encountering risks and uncertainties
• Economic and personal rewards

Roles of Entrepreneurship and Entrepreneurs in Economic Development and

Society (Edralin, D. M., 2016):

• Creates employment
• Develops new markets
• Introduces innovation
• Generates new sources of materials
• Stimulates investment interest in the new business ventures being created
• Improves the quality of life
• Serves as role models
• Brings social benefits to the people
• Utilizes and mobilizes indigenous resources
• Provides more alternatives for consumers

Entrepreneurs are found everywhere around the globe and they are a distinct
group of business people who contribute to the development of the society. They are
the founder and creator of the enterprise who make use of the opportunities that
abound to start or grow business, knowing that there are risks involved in such
undertaking (Edralin, D. M., 2016).

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MAKE MEANING- INTERNET ASSSISTED ACTIVITY

DIRECTIONS: Give the meaning of the following word/phrase in each item. You may
use the internet to define the given word/phrase. Write your answer in the space
provided.

1. Competency ________________________________________________________________
2. Job Opportunities __________________________________________________________
3. Enterprise _________________________________________________________________
4. Creative thinking ___________________________________________________________
5. Managing Change __________________________________________________________

BRIEF INTRODUCTION
Are entrepreneurs born or made?

This question has long been debated with little agreement.

However, as cited by Longenecker, J.G., et.al. (2016), Stephen
Spinelli and Robert Adams described entrepreneurs as having and
exhibiting “desirable and acquirable attitudes and behaviors” such as commitment
and determination, leadership, opportunity obsession, risk-takers, motivation to excel,
creativity, self-reliance, and adaptability. According to (www.ideasforleaders.com),
competencies such as risk seeking, assertiveness and vision are considered typical of a
successful entrepreneur. But these are innate predispositions or aspects of
temperament; by using them as yardstick, it is wrongly concluded that only certain
types of people make good entrepreneurs or are capable of worthwhile innovations.

Is there such a thing as a ‘natural-born entrepreneur’?

Accordingly there is not. Specific techniques and habits must be practiced and
developed by all would-be entrepreneurs. Aside from business competencies,
entrepreneurs need interpersonal and self-leadership skills too; however, these are
often overlooked. Entrepreneurial behavior‟ can be learned and developed
(www.ideasforleaders.com).

The question is not who entrepreneurs are, but what they do, and more
important than business skills can be other competencies that provide a foundation
for those business skills (www.ideasforleaders.com).

Furthermore, according to www.ideasforleaders.com, there are three levels of

competencies, which all entrepreneurs need:

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1. Personal competencies – These are your abilities to ground yourself so that

you are secure and self-assured in whatever situation you may find yourself
(www.free-management-ebooks.com).
Ex. creativity, determination, integrity, self-criticism.

2. Interpersonal competencies – These are your ability to lead, influence,

communicate, supervise, negotiate, and control people at all levels. It is the
ability to get along with people and motivate people to perform jobs.
Entrepreneurs must effectively manage people (baseread.com).
Ex. communication, engagement, delegation

3. Business competencies – These are set of particular abilities and knowledge

that sets a company apart from its competitors (yourbusiness.azcentral.com). It
also refers to the key characteristics that successful entrepreneurs should have
in order to be successful (www.mustangbols.com). Ex. business vision, financial
management, networking
Core vs. Common Competencies in Entrepreneurship

Competencies in entrepreneurship play a leading role in making

entrepreneurs successful (baseread.com).

Entrepreneurial competencies facilitate opportunity recognition, help adapt

rapidly to changes, enhances business performance, strengthen the firm‟s competitive
position and stir the achievement of organizational success. It is the sum total of the
personality, skills and knowledge that the entrepreneur possesses, which are
necessary to effectively perform their functions and responsibilities (Edralin, D. M.,
2016).

Competence is an underlying personal characteristic which leads to superior

performance. It is a combination of knowledge, skills, attitudes, and motives
(baseread.com).

Core competence is the foundation for sharpening a company's competitive

edge and it guides brand reputation, business growth, and marketing strategy
(www.thebalancesmb.com).

Common competence is one that describes the knowledge, skills and abilities
found in most or all position (www.ifpm.nifc.gov).

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Examples of Core and Common Competencies in Entrepreneurship

Core Competencies Common Competencies
1. Organizing and Planning 1. Analytical and critical thinking
2. Cash flow management 2. Decision making
3. Personnel management 3. Leadership
4. Operations and distribution 4. Communication
5. Customer Relations 5. Computer Literacy
6. Bookkeeping/Accounting 6. Human Relations
7. Promotions and Advertising 7. Managing Change
8. Resources Management 8. Creative Thinking
9. Financial Management 9. Time Management
10. Information Management 10. Conflict Management

Job Opportunities for Entrepreneurship as a Career

If you‟re an aspiring entrepreneur, there are different career paths you can take
to turn your dream into a reality. Which path you choose will depend on your
experience, skills, finances, and flexibility, as well as your goals for the future (Doyle,
A., 2020).

Career opportunities you might pursue according to Michalowicz (2011) as cited

by Edralin, D. M., 2016):

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Entrepreneurship Career Opportunities Entrepreneurship Career Opportunities

for the Academic Track for the TECHVOC Track
• Business Consultant Fine Arts
• Sales • Artist
• Research and development • Graphic designer
• Not-for-profit fundraiser • Photographer
• Teacher • Art gallery manger
• Talent recruiter • Film director
• Business reporter Fashion Designing
• New venture creation • Designer wear production
• Career in existing entrepreneurial • Fashion marketing, planning and
ventures concept management
• Fashion media design management
• Fashion accessory design, quality
control, and promotion brands
• Costume designer
• Fashion consultant and personal
stylist
• Technical designer and graphic
designer
• Fashion coordinator
Sports
• Health club manager
• Strength, wellness or conditioning
coach
• Fitness program or event planning
manager
• Professional or amateur
team manager
• Sports facility manger
• Corporate fitness director
• Rehabilitation center director
• Nutrition center manager Other
TECHVOC Track
• Cook/Chef
• Automotive mechanic
• Electrician
• Technical support specialist
• Tool keeper and technician
• Network support Associate
• Mechanical technologist
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Note: Most would-be entrepreneurs, however, remain self-employed, preferring to be

the boss.

Reasons why many would like to become an entrepreneur (www.scu.edu):

1. Achievement, Challenge, & Learning

2. Independence & Autonomy – you can set your own goals, pick their own
partners, and face the consequences of your decisions.
3. Income Security and Financial Success
4. Recognition and Status
5. Family
6. Dissatisfaction with Current Work Arrangements
7. Community and Social Motivation

ACTIVITIES
Activity 1. Read and analyze the facts about the competencies in Entrepreneurship
below. Determine whether the statement is TRUE OR FALSE. Write TRUE if the
statement is correct and write FALSE if otherwise. Write your answer before the
number.

_________1. Entrepreneurship can be learned by anyone, it‟s not something that can
simply learn in a classroom.
_________2. Certain skills, such as communication, delegating and respecting others
can only be acquired through practice and developing „habits of character‟.
_________3. Habits of character may not strictly be related to business but are to do
with the kind of person the entrepreneur is and what he/she does.
_________4. An entrepreneur has to have certain cultivated and inherent qualities in
order to make a success of his or her venture.
_________5. Hard work and determination to win have made many successful business
people to reach their aspired goals.
_________6. An Entrepreneur must hesitate for personal or other reasons.
_________7. Business involves many risks, which an entrepreneur must hesitate to
take.
_________8. New ideas help make a business venture successful.
_________9. Certain attributes are essential for an Entrepreneur to establish his or her
business on sound footing.
_________10. The only way to acquire the habits essential for entrepreneurs is by
acting in a way inconsistent with them.

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Activity 2. Read and analyze the competencies below that every entrepreneur should develop
and identify whether this refers to Personal Competencies, Interpersonal
Competencies, or Business Competencies. Write your answer in the space provided.
1. Emotional balance 6. Resource Management skill
2, Negotiation skills 7. Resiliency
3. Leadership skills 8. human relation
4. Persistence 9. Respect
5. Charisma 10. Tenacity

Activity 3. Word Search: Please search for the ten (10) competencies of an
entrepreneur in the box below. Clues are provided. Encircle the word in the box and
write it before the clue.

Competencies of Entrepreneur

R N G E X J F W R E I R N L W
V E N C V C A C I N K M Z H R
C T I S Q I P R C T L N C E O
F W K N X W T H Z E A N S S Y
O O R X N W S A C R I O T P T
L R O I O O D P E P U G A K J
K K W J A O V T D R J N S L H
Z I D H L L F A C I C I C B X
I N R M K N T E T S R R G W D
W G A R B M F O R I T I N M T
N H H Z J U L M S N V N I A U
A C G I L S F K X G L E K B H
B E V I T I T E P M O C A P Y
D E T E R M I N E D R C T H O
T N E D I F N O C B P Y J M Y
Clues:
_______________1. Showing assurance and self-reliance
_______________2. Firmly resolved
_______________3. Capable of devising ways and means
_______________4. Showing initiative and willingness to undertake new projects
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_______________5. Having the quality of something created rather than imitated

_______________6. Introduce something new or different
_______________7. As good as or better than others of a comparable nature
_______________8. The act or fact of doing something that involves danger
_______________9. Habitually engaged in earnest and energetic work
_______________10. The cultivation of productive relationships for employment or
business

REMEMBER
• Commonly, competencies such as risk seeking, assertiveness and vision are
considered typical of a successful entrepreneur.
• Entrepreneurial behavior’ can be learned and developed.
• Personal competencies – This are your abilities to ground yourself so that you
are secure and self-assured in whatever situation you may find yourself.
• Interpersonal competencies - It is the ability to lead, influence, communicate,
supervise, negotiate, and control people at all levels. It is the ability to get along
with people and motivate people to perform jobs. Entrepreneurs must effectively
manage people.
• Business competencies - is a set of particular abilities and knowledge that sets
a company apart from its competitors. It also refers to the key characteristics
that successful entrepreneurs should have in order to be successful.
• Entrepreneurial competencies refers to the sum total of the personality, skills
and knowledge that the entrepreneur possesses, which are necessary to
effectively perform their functions and responsibilities (Edralin, D. M., 2016).

CHECK YOUR UNDERSTANDING

DIRECTIONS: Aside from the given examples in the above discussions,
enumerate what is asked in the box. Write your answer in the space
provided.

Competencies in Entrepreneurship
Personal Competencies:
1.
2.
Interpersonal Competencies:
1.
2.
Business Competencies
1.

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2.
Core Competencies:
1.
2.
Common Competencies:
1.
2.
Job Opportunities for Entrepreneurship as a Career
Possible business venture:
1.
2.
Possible full-time job:
1.
2.
Reasons why many would like to become an entrepreneur:
1.
2.

POST-TEST
Identification. Read and analyze the statements below and identify whether it
requires a common competency or core competency. Write A if it is a common
competency and B if it is a core competency. Write your answer in the space provided.

_________1. Writing business correspondence.

_________2. Preparing income statement
_________3. Designing for packaging and labelling.
_________4. Relating with staff and co-workers.
_________5. Managing quality customer service.
_________6. Giving solution to a problem.
_________7. Coordinating with channel of distribution.
_________8. Negotiating with suppliers.
_________9. Adopting to work environment.
_________10. Able to operate computer system and applications.

Multiple Choice. Read and analyze the statements below and then write the letter of
the best answer in the space provided.

_______1. Ronald is graduating SHS. After his graduation, he is planning to put up a

computer shop. What core competency he needs to develop?
A. Arts and design B. Systems and application

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C. repairs and maintenance D. machine and equipment

_______2. Leticia is an employee of a fast-food chain. What common competency she
needs to develop?
A. Time management B. Managing Conflict
C. Leadership D. Critical thinking
_______3. Mang Tomas is the owner of the Tomas Welding Shop. What common
competency he needs to develop?
A. Change management B. Human Relations
C. Time management D. AB&C
_______4. If Promotions and Advertising are core competency in Entrepreneurship;
_______ is a common competency in Entrepreneurship.
A. managing sales B. listening to the sentiments of workers
C. coordinating with partners D. Conducting research
_______5. If good human relations is to Interpersonal Competency; Visioning is to
________.
A. Personal competency B. Core Competency
C. Common Competency D. Business Competency

REFLECTIVE LEARNING
Entrepreneurship education aids students from all socioeconomic backgrounds
to think outside the box and nurture unconventional talents and skills. Hence, you
need to think about and reflect on the following questions
(www.excite.com/education/business/entrepreneurship/careers):

• How long does it take to start a career in entrepreneurship?

The amount of time it takes to make it as an entrepreneur depends on the field

you choose to venture into. Since entrepreneurs can exist in any sector of the
economy, there is a vast and almost never-ending list of paths to choose from.
Therefore, you cannot define a single time-frame for careers in entrepreneurship.

• What are the requirements for a career in entrepreneurship?

The first thing you need to do is find the right business idea and get education
according to it. You will then need to make a business plan and define your target
market. Once you have established these, you should start networking and selling
your idea into your targeted market.

• How much can I make with a career in entrepreneurship?

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The salary figures for entrepreneurs vary according to the field they venture into
and how well their idea sells in the market. If your idea is unique and useful, you
might end up making a lot of money.

• What skills do I need for entrepreneurship career?

To become a successful entrepreneur, you must demonstrate good skills and

should be educated in the field. Some skills that can turn out to be useful are:
communication skills, leadership skills, analysis skills, decision making skills,
problem solving skills, critical thinking skills, and management skills.

Congratulations! You are almost done in this module. Please write your idea on the
situation below.

DIRECTIONS: As would-be Entrepreneur, you are tasked to write down at least 3

career opportunities which attract you most. Indicate what competencies you need to
enhance in order to become successful in these opportunities. Write your answer in
the space provided.
______________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________

E-SITES
To further explore the concept learned today; please watch the video about
“Young Entrepreneurs Success Story”. Follow the link below:
www.youtube.com/watch?v=j7wZogQhmFE

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ANSWER KEY
PRE-TEST

Competencies in Entrepreneurship Job opportunities for Entrepreneurship

as a career
1. Analyzing 1. Store owner
2. Decision making 2. Sales
3. Problem solving 3. Online seller
4. Collaborating 4. Food processing
5. Budgeting 5. Repair shop owner

LOOKING BACK TO YOUR LESSON

1. Competency – this refers to a possession of sufficient skill
2. Job Opportunity – refers to a good chance of employment
3. Enterprise – it is the undertaking of activities associated with the production, sale
or distribution of products or services.
4. Creative thinking - the process of thinking carefully about a subject or idea,
without allowing feelings or opinions to affect you
5. Managing Change - the planning and introducing of new processes, methods of
working, etc. in a company or organization

ACTIVITIES

Activity 1. True or False

1. T 6. False
rue 7. False
2. F 8. True
alse 9. True
3. T 10. False
rue 4.
True
5. True

Activity 2. Identification
1. Personal Competency 6. Business Competency
2, Business Competency 7. Personal Competency
3. Business Competency 8. Interpersonal Competency

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4. Personal Competency 9. Interpersonal Competency

5. Interpersonal Competency 10. Personal Competency

Activity 3. Word search

Confident Innovative
Determined Competitive
Resourceful Risk Taking
Enterprising Hardworking
Creative Networking

Check your understanding

Competencies in Entrepreneurship
Personal Competencies:
1. Resilient
2. Self-reliant
Interpersonal Competencies:
3. Networking
4. Collaborating
Business Competencies
5. Business strategy
6. Product Innovation
Core Competencies:
7. Customer service
8. Managing staff
Common Competencies:
9. Ability to adapt to change
10. Good relationship with supervisors and co-workers
Job Opportunities for Entrepreneurship as a Career
Possible business venture:
11. Food processing
12. Merchandising
Possible full-time job:
13. Cash register
14. Store manager
Reasons why many would like to become an entrepreneur:
15. Self-fulfillment
16. Earn income/livelihood

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Post – test

Identification Multiple Choice

1. A 6. A 1. B
2. B 7. B 2. A
3. B 8. B 3. D
4. A 9. A 4. B
5. B 10. A 5. D

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