Home Economics

VIBAL
a n d Livelihood Education
Kto12 EDITION \J i

The Basics
of Better Family Living
■ Ruth A. Arsenue ■ Yolanda L. Quiambao ■ Gloria A. Peralta, Ed.D.
■ Grace B. Azarcon ■ John E. Mora Author-Coordinator
■ Catalina R. Ipolan ■ Dondon M. Paguio
 A
ll around us are businesses run by groups or individuals
called entrepreneurs. Whether they run a small busi­
ness like a sari-sari store or a big one like a computer
and software company, they are considered entrepreneurs.
Have you ever dreamed of becoming an entrepreneur? Do
you have what it takes to become one? What are the personal
characteristics and traits of successful businessmen?
This lesson will present the different types of entrepreneurs.
It will discuss the important values and traits a person must
OBJECTIVES possess in order to thrive in the business industry. In addition,
• Identify the
iHiFiifiriitle and it will give you ideas on how to start a business. The most basic
m \um §f 3 iuc€@iifyl
knowledge and skills that you need in order to come up with
aiiri ideal §nf§prtniUF, a marketable product will be discussed to help you get started
• Wemify the iilfefi and with a small business in school or within the community.
« Pf§fjyff lifflplf
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pr©iuiti;
• Byym i III! pf§fj«ltl * H§w €§n pF©spi€tive iFrtFtpFeneuFS dev§i©p § marketable pF©duet
bdsetj on ifid ©F ItFViee?
demands in school awl » W h it are the characteristics values that help individuals
femfflunity hec©me successful entFepFerieuFS?

2
 According to the Merriam-Webster dictionary, an entrepreneur
is “a person who starts a business and is willing to risk loss in
order to make money.” He or she “organizes, manages, and
assumes the risks of a business or enterprise.”
This means an entrepreneur is someone who is willing to put
up the capital needed to set up a business fully aware of the risks
involved. It is he or she who plans, organizes, and manages the
business, hires the people to help run it, and ensures that the
product or service being offered is sold at a reasonable profit in
order to earn.
Qualities of an Ideal Entrepreneur
Here are some of the qualities of an entrepreneur mentioned
in The Entrepreneur’s Handbook by CIDA-Pearl and
PHILSMED.
* induitfteui
Displays hardwork and perseverance in the face of challenges;
utilizes skills to diligently carry out tasks or make goods
» lnn§v§fiv@
Has the ability to envision future needs or demands and create
new opportunities, products, and services to meet these demands
# H eniit
Does not engage in deceptive or fraudulent acts; displays sincerity
at all times
» P if iiit in t
Does not easily give up or let go
» C iflfif
UnakrsCxaak C&e&e&crgp, coneiams;
her customers but also his or her workers
» Hefpfuf
Is always available to provide assistance
» Faith in geedness ri|ht#©uin§§§
Conducts business fairly and cultivates a culture of righteousness
» 'Organized yet t a ib ! i
Is able to adapt to any change yet remain logical and organized
» Confident
Feels or shows certainty, as of success
» Strategist
Is a careful planner; sets long-term goals and plans and
executes a well-thought of strategy in order to achieve them
» Proactive
Acts immediately on new ideas, insights, and opportunities;
always in step with changes in one’s environment and apply­
ing them to one’s business; does not engage in procrastination
and other unproductive work habits
» Prudent
Is never wasteful and always ensures that all resources are
used wisely and every bit of raw material does not go to waste
» Determined
Is a go-getter and an achiever; acting on a dream, vision, and
plan, no matter how hard it may seem at first
» Knowledgeable
Is well-trained and possesses information and understanding
of concepts necessary to run a business venture
» High quality philosophy
Strives for excellence and perfection to exceed customer satisfaction
» Risk-taker
Takes calculated risks and knows how to match opportunities
with market realities; takes on risks anticipating business
profitability and chances of success
Types of Entrepreneur
There are different types of entrepreneurs. According to
Christine Miller in The Resourceful Entrepreneur, they can be
categorized into four general types.
» The Social Entrepreneur
This type of entrepreneur offers products and services with
the overall intention of creating social good. The profit is
often reinvested into the business venture rather than being
distributed to the shareholders.
» The Serial Entrepreneur
DID YOU KNOW?
This type of entrepreneur sets up businesses and brings them • Some examples
to a stage of development from where they can move on to of leading social
the next project either by selling or handing over the business entrepreneurs are Dr.
Maria Montessori of
to a successor or group of successors while retaining some Italy who developed
degree of investment. the Montessori
approach to early
» The Lifestyle Entrepreneur childhood education
This type would choose a business that would reflect their and Florence
passion. Focus is on doing something one loves rather than Nightingale of UK

pursuing profit. The business venture often springs from a who established the
first school for nurses
hobby, favorite sport, or family activity. and fought to improve
hospital conditions.
» The Solopreneur
This type operates alone and manages all aspects of the
business. Today, this is made possible with the use of ICT
tools which make multitasking easier.
Starting Your Own Business
Starting your own business entails serious hardwork. It involves,
among others, such activities as research, planning, testing,
developing, marketing, and the like.
What type of business do you want to get into? A business
involves selling a product or service or both.
A product is something that is manufactured following a
process, or grown and nurtured in order to be sold for a profit.
A service is a facility supplying a public or market demand.
Some examples are hair salons offering hair care and hair styling
services; bus companies, offering transport services; and spas and
wellness centers offering massages, skin care treatments, and the
like.
Some salons offer both service and products, as do spas and
wellness centers. As such they earn from people availing of
the services they offer and the products they sell for care and
maintenance.
In deciding what type of business to get into, it might be
good to start with a hobby or interest. It is easier to work on
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 A talent or skill can be
used to earn additional
income by offering the
service or product to
others. For example, if
you enjoy baking, sell­
ing your baked goodies
like cookies and cup­
cakes, to your friends
and neighbors can be
start of a business.

something that you are already passionate about. You can pro­
duce something that you can offer or sell to your friends and
schoolmates. School fairs are a good opportunity to sell. Among
the products that are always in demand are food items. Start
small before you think of producing bigger quantities. You also
have to practice your skills in food preparation and cooking. In
addition, you also have to observe safety practices in handling,
preparing, and serving food items.
Whatever you decide on, you have to remember to keep your
costs down while maintaining the quality of your product. Make
sure to canvass and find out where you can source your materials
and supplies in the best price available. If you decide to produce
and sell food items, purchase your ingredients in a store or mar­
ket that sells fresh produce.
Lastly, remember that the way a product is presented to the
customer affects its saleability. Food items, in particular, must
not only be attractively packaged but more importantly, they
should be protected from contaminants and spoilage. Like other
expense items, packaging must be of good quality but also cost
effective.
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 If you do not have any particular product in mind yet, but
would like to develop one, you might want to do some research
and investigation.
You can do this by observing people and their food preferences
and even checking the existing products in the local market.
Can you see some products that you might want to produce
and sell? What are the common items, other than food, that
most people buy in your school or community? Can you make
these items too?

What products are

saleable in your school
or community?

Remember
» An entrepreneur must have not just the knowledge and skill but alio the
proper values and attitude,
» There will always be demand for products that will satisfy a ptrsoo's basic
needs such as food, clothing, and shelter,
» To ensure profitability, one should keep costs down but still maintain
quality,
» Goods and services must also be appealing to be patronized by prospective
buyers; offer something new in every season such as Christmas, Valentine's
Day, Graduation, Mother's Day, father's Day, tie..
» Innovate existing goods and services to make it mer# interesting and de­
velop customer loyalty.

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REVIEW______________
A. Answer the following questions.
1. Who can be an ideal entrepreneur?

2. What are the different products you found near the school community?

3. Are the products simple or are they complex? Explain.

4. What products and services are most in demand in your school?

5. Why do you think are they in demand?

B. Observe the entrepreneurs within your community. What are the products or services that
they sell? Accomplish the chart below.

Business/Store Name Products Services

Have you decided what product you can make and sell based on your research? Below are
sample recipes of baked items that you might want to try. You may look for other recipes
in the library or over the Internet.

Polvoron
Ingredients:
1 1/2 cups powdered milk
2 cups all-purpose flour (toasted)
1 cup sugar
3/4 cup melted butter

Procedure:
1. Toast the flour until brown in color. Remove from heat.Letit cool.
2. Melt the butter. Set aside.
3. Combine powdered milk, sugar, and toasted flour.
4. Add the melted butter and mix until well combined.Makesureyou break the lumps
while stirring the mixture.
5. Divide polvoron mixture if you want to add other flavors (2 tbsp of each like peanuts,
cashew, etc.).
6. Press the mold in the polvoron mixture till you have filled up the cavity, it is okay even
if it is overflowing a bit.

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 7. On a plate, press the mold to make the mixture more compact.
8. Push the ejector handle to release the molded polvoron, if it is still sticking to the flat
metal plate, gently hold the sides of the polvoron with your thumb and forefinger and
move it a little bit, it will release itself.
9. Use a cellophane wrapper to wrap the molded polvoron.

I
n
g
re
d
i
en
t
s
: 2 cups powdered milk
1 can, 14 oz condensed milk
sugar for coating
note: add 1/2-1 cup powdered milk if needed

Procedure:
1. Combine powdered milk and condensed milk. Mix and blend evenly using a spoon.
2. Set aside for few 10-15 minutes before shaping.
3. Shape into balls or mini logs.
4. Wrap the pastillas in a cellophane or food paper. If you do not like wrapping, shape into
balls and insert a toothpick at the center.
D. Design packaging options for the food items in the previous page. Draw your designs in a
bond paper. Present them in class.
E. You have to compute the cost of your product in order to add the mark-up of 20 to
40% and obtain the selling price. Make sure to include the cost of ingredients, packaging
materials, labor, transportation, water bill, rentals, and other expenses.

Costing Sample
1. List of ingredients for Chiffon Cake

6 eggs P42.00

1 C sugar P15.00

1 C milk f 20.00

3 tsp baking powder f*5.00

21
/4 C cake flour F30.00

10
 1 tsp flavoring P5.00

1 C oil P10.00

1 tsp cream of tartar P5.00

Total cost of ingredients f 132.00

2. Operating expenses

Labor P50.00

Gas P40.00

Transportation P20.00
Packaging P40.00

Total cost of
T 150.00
operating expenses

3. Computation for Selling Price

Cost of Ingredients P132.00

Operating Expenses P1 50.00

Total Expenses f 182.00

20% Mark-up P36.40

Selling Price P 218.40

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 F. Group Work. Try to make one of the food products and sell it to people in your school,
community, or neighborhood. Provide feedback to the class. See rubrics for the assessment
of your food product.

Goal » Your task is to bake cookies or cakes.

Role » You are the baker.

» The target audience is your school

Audience
community.

» The challenge involves dealing with

Situation baking cookies and cakes, and selling the
products at a profit.

» You need to develop skills in baking

Product, Performance, and Purpose
cookies and cakes.

» Your product must meet the following

Standards
standards of the market.

RUBRICS
Score
Criteria
4 3 2 1

1. Marketability

2. Appearance

3. Acceptability

4. Price

5. Ingredient

Total Score

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G. Identification
Choose the right term for each statement in the box.

all-purpose flour condensed milk

mark-up Florence Nightingale
social entrepreneur laundry
packaging photocopying
innovative Dr. Maria Montessori

________________________ 1. An entrepreneur must have the ability to evision future

needs or demands to create new opportunities, products,
and services to meet their demands

________________________ 2. This type of entrepreneur offers products and services with

the overall intention of creating social good

________________________ 3. Established the first school of nurses

________________________4. An important ingredient in making polvoron

________________________ 5. To make your pastillas sweet

________________________ 6. To make your product look more appealing in the selling

area

________________________ 7. Added value to the cost to determine the selling price

________________________8. Developed the approach to early childhood education

________________________9. A service that provides cleaning clothes

________________________10. A profitable business within the vicinity of a school

H. On a whole sheet of paper, write a short essay about the importance of developing
entrepreneurial skills to yourself, your family, and your community. Mention which of the
characteristics of an entrepreneur taken up in this lesson is most important and why.

I. Conduct a research survey about the biggest business establishments. Present a business
profile in class detailing type of business, years in operation, yearly sales, and number of
employees.

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