Module 1-Entrepreneurial Mind

Answer Sheet

Name: Bulay,Ericalaine Kayevin Mae R. Course &Section: BSAIS-1A

LESSON 1- MINDSETTING
ACTIVITY #1: The World Made Closer

MY IDEAS
Before beginning these activities, write down what you think ‘entrepreneurship’ means to
you.

Entrepreneurship is a way of innovative, risk-taking, growth oriented behavior that brings new

opportunities for an individual or organizations to start a new business. To produce new products or

services that are beneficial to the society.

 What are your experiences at work, where you have to do as someone
else tells you? How do you feel working for someone else? What if you are the
boss of your own business? How do imagine yourself owning a very successful
business. What kind of business would it be, where are you going to put it up,
who are your target customers and what modern ideas will you put in your
business to make it different from the existing ones? Dream and believe.

Express yourself here:

As of the moment, I don’t have experience at work but when someone tells me to do
something and they are satisfied of the result it makes me happy. The fact that they love
my work and how I work It felt nice when your hard work is being appreciated. I imagine
being a cool and respected business owner. I want to own a clothing business in Cebu.
Creating trend Clothes for Plus Sizes, for some women and men who have big sizes most
stores and clothing lines don’t offer plus size clothes. In the past I also share the same
problems with them in terms of clothing. Yes there are stores that offers big sizes like Extra
Large and Two XL but when you wear it felt like it is a size Medium. So I want to address
correct sizing in my clothing line and Create nice styles for them.
 Instructions: Please answer in a minimum of 5 and a maximum of 10 sentences.
Rubrics for scoring:

Criteria
Organization of Thoughts – 5 pts.
Clarity of the Message – 5pts.
Originality of Work – 5pts.
Coherence – 5 pts.

1. What could be your driving motivation and reason to become an entrepreneur? Do

you think you have a unique reason compared to others?

2. Explain why integrity and ethical behavior apply to a small business.

3. Why do you think entrepreneurship is important to our economy? Provide specific

example of how entrepreneurs affect the economy.

4. What do you think is the most important thing an entrepreneur should do before
starting a business to ensure its success?

Please write your answers here:

1. My sole reason and motivation to become an entrepreneur is to raise my family from

poverty. To serve people with their needs and wants. I think everyone who plans o
venture a business has the same reason as mine. Everyone wants to have a successful
life, to give the needs of ones family without the difficulty in finding money. Especially
today, most Filipino families struggles financially. We want to be the hope of the family,
who worked hard for the betterment of the family’s future.

2. Integrity and Ethical behavior must be applied to a small business. Exhibiting ethical
behavior in a business helps the business to gain trust and promotes integrity among
your employees, business partners and also consumers. Having Integrity on your
business will help you to prosper. Operating a business with integrity will make your
relationship feel safe and secure. For example, in your employees, being respectful,
careful consideration of their ideas, and exercising punctuality will make them more
productive. While in customers, Honesty on everything that you will give to them and not
taking advantage on what they don’t know will help you earn them. And also it applies to
your suppliers and business partners to ensure strong and healthy business.
3. Entrepreneurship is significant in our economy because it contributes to economic
growth. It enables the development of new markets by utilizing innovative technologies,
product improvement, and services. For instance, due to the pandemic, our economy
experienced downturns, but with the help of online businesses and small businesses, we
were able to recover. That is why online businesses are so popular nowadays. Because
doing business online is far more efficient than going to physical stores, most Filipinos
start innovative businesses with creative marketing strategies to attract new consumers
and loyal customers. As a result, new products or manufacturing processes emerge,
resulting in increased market rivalry. Furthermore, more internet firms/small businesses
means more job prospects and higher incomes, which contribute to higher money in the
form of higher tax revenue, which can assist the government plan for the country’s future.

4. Be observant ( Do Market Research), To ensure its success, you must first ensure that
you understand how the industry in which you will be participating operates. Market
research should never be overlooked, especially by those who are just starting out in
business. Market research lays a solid basis for a company to grow on, preparing it for
any challenges or weaknesses that may arise as the firm expands. Market research gives
firms a competitive edge, allowing them to survive in new situations, from getting to know
their target audience to examining possible competitors. It is to ensure that you have a
target audience, that you understand how to sell to them, that you are aware of your
competition, and that you are aware of who can assist you. Going the extra mile and
completing market research can guarantee that you have all of the knowledge you
require to make your new business a success.
A. Identification Test. (10 points)

Instructions: Read the statement below and identify what is required. Write your answers on
the space given.

1. Entrepreneurs who use green business practices, such as recycling and working with other
green-minded companies, are often favored by customers is called Green Entrepreneurship.
2. The kind of business that generate fresh produce and other farm products such as rice. Is called
Agricultural Business.
3. The business that sells products directly to the people who consumes them is called Retailing
Business.
4. Any business that uses components, parts or raw materials to make a finished good is called
Manufacturing Business.
5. People who operate and take risk of a business ventures is called Entrepreneur.
6. The process of running a business of one’s own is called Entrepreneurship.
7. The business that sells services rather than products is a Service Business.
8. The business that sells products to other businesses rather than the final consumer is a
Wholesale Business.
9. Filipino entrepreneur who introduced SM Malls in the Philippines was Henry Sy.
10. Filipino entrepreneur who introduced Mercury Drug Stores in the Philippines was Mariano Que.

B. Enumeration: (2 points each)

Instructions: List down at least 10 successful Filipino entrepreneurs and their
contribution to Philippine’s economy.

1. SOCORRO C. RAMOS
National Book Store, Inc.

Ms. Socorro C. Ramos started working as a salesgirl when she was 18 yrs. old in Goodwill
Bookstore in Escolta. She was good at selling, that’s why she became in charge of the store.
When she was married to Jose Ramos, they put up The National Book Store. Her vision was
to extend the National bookstore not only here in Luzon but also to Visayas and Mindanao
for cheaper access to books and school supplies. Before, the National Book Store was a
general merchandise store. Until later on, it was selling books, greeting cards, and school
supplies. Today, more than 70 National Book Store can be found nationwide.
2. TONY TAN CAKTIONG
Jollibee Foods Corporation

Jollibee was formerly selling Magnolia Ice Cream, then it was recognized as selling chicken
and burger. Tony Tan Caktiong, the president and CEO of Jollibee, was a name to remember,
not only here in the Philippines but also in other parts of the country, like in US, Hongkong,
China, Indonesia, and Japan. He had received several awards in the business and the likes.
The success of Jollibee according to Mr. Caktiong is sharing to people what they had
achieved. Jollibee had been known to be a happy and hardworking insect. It is the favorite
place to dine in of many Filipinos especially the kids.

3. Lucio Tan
Philippine Airlines

Lucio Tan’s story was from rags to riches tale. Before working in the tobacco industry, his
business was a scrap. His dream was to become a scientist but his fortune was bound to
become an entrepreneur. His hard work made him successful and became famous. Now, he
owns Asia Brewery, Tanduay, Fortune Tobacco, Philippine Airlines, Allied Bank, and many
more to mention.

4. ATTY. FELIPE L. GOZON

GMA Network, Inc.
Atty. Felipe L. Gozon is the chairman, president, and CEO of GMA Network. He was credited
for the success of GMA Network in radio and TV broadcasting, filmmaking, and music
recording. He was Master Entrepreneur in 2004. Because of the leadership of Atty. Gozon,
he made GMA as one of the top networks in the country today. Currently, GMA had via-
satellite broadcasting in Asia and in other parts of the world.

5. Henry Sy
ShoeMart
Henry Sy was born on December 25, 1923, in Xiamen China. In his early twenties, he used to
sell American shoes. Then after three years, he was able to have his first shoe mart store.
SM group of companies was one of the biggest companies in our country and the man
behind it was Henry Sy. His self-discipline, perseverance, and hard work made him what he
is today. In almost every part of the country (as well as in Asia), there is an SM mall.
According to Henry Sy Sr., success will not last if you do not care about it. That’s the secret
of their success.

6. Jaime Zobel de Ayala

Ayala Corporation

Jaime Zobel de Ayala was before the president and chairman of Ayala Corporation. He was
considered as one of the richest persons tied with Henry Sy in 2007. He had received many
awards and the latest was Entrepreneur of the Year 2012. His strategy for being successful
in this business was getting partners with those who are in need in the community. He
believes that gaining profits was not really the concern of every businessman, but to help
the poor people.

7. Alfredo Yao
Zest-O Corporation

Alfredo Yao came from a poor family and became rich due to hard work and determination.
He didn’t finish his education at Mapua Institute of Technology. He experienced to work in
the printing press and then ventured to this business for 20 years. Then, he shifted to a juice
manufacturing business. Zest-O became hit to mothers because of its being convenient to
be placed in every lunch box of the children. Today, Zest-O was one of the leading juice
manufacturers in the country, in China, New Zealand, Singapore, and many others.

8. Mariano Que
Mercury Drugstore
Mariano Que first worked in a drugstore. When he was given the opportunity, he invested
his 100 pesos in the sulfathiazole tablets. He sold his products to the people by making use
of the wooden pushcart. After saving a lot of money, he was able to built Mercury. It was
made known to the people as selling safe medicines and opened for 24/7. Mercury, like any
other leading drug store, had many stores nationwide. That was because of the innovations
he made in his products.

9. Cecilio K. Pedro
Lamoiyan Corporation
Cecilio K. Pedro finished his business management degree at Ateneo de Manila University.
He founded the Lamoyan Corp. which produces toothpaste like “Hapee” and “Kutitap.” This
made toothpaste affordable to the masses. He survived in the industry because of being
tough and innovative to fight for the multinational companies. His company had received an
award, “Most Outstanding Program for Equal Employment Opportunity,” giving importance
to those who have difficulty in hearing to work in his company.

10. Corazon D. Ong

CDO Foodsphere, Inc.
Corazon D. Ong is the founder of CDO Foods. It was a hobby of Ms. Ong to make processed
meats products such as corned beef, hotdog, meatloaf and hamburger patties. She was a
dietician by profession. So she understood what the preferences of most Filipinos are.
Today, CDO Foodsphere, Inc. was recognized as the leading supplier of meat toppings.
Why?? Because nowadays we have many working mothers and it is convenient on their part
to have foods which can be cooked easily.
 C. Essay. What inspiration did you get after reading the success stories of Filipino
entrepreneurs?

Rubrics for Essay:

Criteria
Organization of Thoughts – 5 pts.
Clarity of the Message – 5pts.
Originality of Work – 5pts.
Coherence – 5 pts.
Total –20 points

As I read the stories of successful Filipino entrepreneurs, I was inspired to never give
up in times of hardships. There's no easy way in life, the road towards success will
definitely have numerous challenges no matter how intelligent or passionate you are in
life. Life will always have ups and down, but the success of my life depends on how I
handle the challenges I faced with. I should believe in my own capabilities to achieve
my desires in life. I think that there is an opportunity in every day. When I see
opportunities, I should not doubt it. I should try new career or new opportunities, and
don't let other people decide on what I want in my life. Going out in my comfort zone
and never live with my fear. I should be courageous, brave and love taking calculated
risks. The future depends on what I do today so I must study hard first.
 Module 1-Entrepreneurial Mind
Answer Sheet

Name Bulay, Ericalaine Kayevin Mae R. Course &Section BSAIS 1A

LESSON 2- CHARACTERISTICS OF AN ENTREPRENEUR

CHARACTERISTICS OF AN ENTR
Answer Sheet

ACTIVITY #1: Picture-Analysis

Direction: Analyze the picture and answer the following question below. (10 points)

Rubrics for scoring:

Content 5 points

Organization of thoughts 3 points

Relevance 2 points

Total 10 points
What does the picture show?

An entrepreneur must have enough knowledge and risk tolerance in

venturing a business. The owner or leader of the business must embody
assertiveness to ensure healthy relationships with you team. And also
being innovative helps the business to gather new customers and loyal
customers.
 Instructions: What do you think it means to be an entrepreneur? What do you think
are some of the characteristics of an entrepreneur? Make a mind map of your ideas.

Persistent
Integrity

Confidence

Social Skills

Curiosity

ENTREPRENEUR

Committed

Innovative

Risk Tolerance
Open-
mindedness
Creative
 Instructions: Please answer in a minimum of 5 and a maximum of 10 sentences each question.

Rubrics for scoring: Content 5 points,

Organization of thoughts 3 points

Relevance 2 points

TOTAL 10 points

1. Entrepreneurs can fail even if they are committed and have the characteristics needed to
be successful. How can this happen?

2. What traits do good team members have? Select one trait and explain why it is important.

3. Do you think the advantages of entrepreneurship outweigh the disadvantages? Why or

why not?

Please write your answers here:

1. Every successful entrepreneur has failed, even if he or she is dedicated and possesses the necessary
attributes to maintain the business. First, a market with an oversupplied supply is condemned to lose a
certain number of employees due to low sales when there is heavy competition. Second, a high tax rate
deters investment and slows economic progress. A higher tax affects long-term productivity growth by
limiting capital investment, and lower productivity means lower pay. Finally, during the Great Recession,
the rate of small business survival dropped as a result of economic challenges.

2.Good Communicator, It’s impossible to work together as a team if individual members don’t fully
understand one another. Communication skills are imperative for anyone working in a team environment.
Arguably the most important communication skill is knowing how to give tactful, constructive criticism. It
has been said that effective communication skills empower an individual to inspire and influence others in
order to reach the desired outcome, no matter how difficult the situation may appear to be. Anyone who has
an open view about all things can give that information to another person and be able to explain why they
feel the way they feel.

3. People frequently wish to start and run their own business rather than work for someone else.
The advantages of owning a business, in my opinion, greatly outweigh the disadvantages. To
be sure, there are some small disadvantages to running a company. To begin with, launching a
business usually needs a financial commitment. For example, in order to start a business, the
owner may need to spend in equipments and other necessary things for the business but not
everyone is wealthy enough to invest a significant sum of money. Starting a business always
entails some level of risk. A business does not generate a fixed monthly income; in fact, if it is
not managed properly, it may potentially lose money. Somehow there are way more advantages
of owning a business including the ability to boost revenues and earnings significantly as the
business grows. A successful business also serves as a foundation for children of business
families to begin their careers. Clearly, owning a business has a lot of advantages for people.
While there are some small disadvantages to owning and operating a business, I believe the
benefits outweigh the disadvantages. In fact, by taking the necessary steps and keeping track of
progress, possible difficulties can be avoided.

B. Enumeration. Think about how you may have demonstrated some of the entrepreneurial
characteristics through your schoolwork, extracurricular activities, or part-time job. Record your
personal entrepreneurial characteristics in the table below. (20 points)

Personal Entrepreneurial Characteristics

1. Persistent
2. Initiative
3. Visionary
4. Passionate
5. Creative
6. Hard working
7. Motivated
8. Committed
9. Time management
10. Adaptive
11. Goal oriented
12. Learner
13. Positive
14. Logical thinker
15. Honest
16. Punctual
17. Disciplined
18. Enthusiast
19. Determined
20. Organised
 Module 1-Entrepreneurial Mind
Answer Sheet

Name Bulay, Ericalaine Kayevin Mae R. Course &Section BSAIS-1A

LESSON 3- The Government and Entrepreneurship The Government

and Entrepreneurship
Answer Sheet
 ACTIVITY #1: Discuss me!

Rubrics for scoring:

Content 20 points
Organization of thoughts 10 points
Relevance 10 points
Total 50 points

Consider opening your own business and what type of business you would
like to own. Record your reasons and type of business below.

1. Reasons I would consider opening my own business include:

2. The type of business I would like to own is:
3. Who will work with you?
4. When do you plan to start your business?
5. What tools and materials will you need to get started?

Write your answer here:

“My Dream Business”

The reasons I would consider opening my own business includes following
my passion. It has always been my dream to have a successful business one day. To
serve people with their needs. To see people with happiness by the things they bought
to me. I would like to own a clothing line business with the help of my mother. As of
the moment, I already ventured my own business which is "ukay ukay" and as I have
observed there is a high competition in this industry, especially it is being sold online.
You need to have a market research first in order to know the target market, existing
competitors, viability of the service you'll be offering and the pricing.
 ACTIVITY #2: DOUBLE ENTRY JOURNAL

Instruction: Below are tables you need to fill in what you have learned while going
through the module 1, lesson 2. Identify and write the ideas or concepts you’ve learned in the left
box and your thoughts about these in the right table. 10 points for each box

Go Negosyo Act of 2014 (Republic

Act No. 10644) My Thought/s or Reaction/s
The Act seeks to strengthen micro,
small and medium enterprises
(MSMEs) to create more job
opportunities in the country. This
negosyo centers promotes “ease of
doing business and facilitating access
to services for MSMEs within Its
jurisdiction” (such as technology
transfer, marketing assistance),
coordinate government support
programs for MSMEs, disseminate
information to MSME entrepreneurs,
generate feedback to improve MSME
support services.
Barangay Micro Business Enterprises Act
of 2002 (Republic Act No.9178)
 This Act refers to any business entity
or enterprise engaged in the
production, processing or
manufacturing of products or
commodities, including agro-
processing, trading and services,
whose total assets including those
arising from loans but exclusive of the
land on which the particular business
entity’s office, plant and equipment
are situated, shall not be more than
Three Million Pesos (P3,000,000). If
you are a registered BMBE there will
be an incentives given.
This Republic is nice because it gives
unemployed people the opportunity to
have a job in order to fight poverty in our
country. Also it supports micro, small and
medium enterprises It also aims to
promote inclusive growth as well as
production and trade in the Philippines.
My Thought/s or Reaction/s
It’s for entrepreneurs who has micro
business becomes very successful, if his
business is not registered, then his
enterprise does not exist in the eyes of the
law. For being legally “inexistent”, the
business cannot enjoy certain legal rights
and protections such the right to own a
trademark, among others. It also has
incentives for the betterment of your
business.
Philippine Development Plan (PDP)
2017-2022 (national)
The ideas and concepts of the PDP
2017-2022 is to enable Filipinos to
attain a matatag, maginhawa at
panatag na buhay. It seeks to lay a
stronger foundation for more inclusive
growth, a high-trust and resilient
society, and a globally competitive
knowledge economy.
My Thought/s or Reaction/s
I like how PDP objectives is to protect te
Filipinos rights and improve their well-
being by raising them from poverty ,
through expanding industry and services
trough Trabaho at Negosyo, they also
reduced the limits to
entrepreneurship to allow micro, small and
medium enterprises to thrive. Thinking
how this Development Plan helps us in
times of Pandemic. They let us establish
our businesses in order for us to meet our
daily needs and to prosper.
Assessment 1. Identification. 10pts
Instructions: Identify the word or group of words being described. Write your
answer on the space provided before each number.

Committee report no. 142 innovative startup act (Senate Bill no.1532) 1. An act
providing benefits and programs to strengthen, promote, and develop the Philippine
startup ecosystem.
Go negosyo act of 2014(Republic Act no.10644) 2. Promotes MSME development with
aims of job generation and inclusive growth, through (a) establishment of Negosyo
Centers “in all provinces, cities and municipalities”, and (b) creation of Start-up Funds for
MSMEs.
Magna carta for MSMEs of 2008(Republic Act no.9501;original enactment in 1991) 3.
This law requires enactment of Micro, Small and Medium Enterprises Development Plan
(MSMEDP), and creation of the Small Business Guarantee and Finance Corporation (SB
Corporation).
Barangay Micro Business Enterprises Act of 2002 (Republic Act no. 9178) 4. The act of
“formation and growth of barangay micro business enterprises”, by aiming “to integrate
micro enterprises in the informal sector into the mainstream economy”.
 Microfinance NGO Act (Republic Act. No.10693) 5. Microfinance NGO promotes MSME
development by supporting microfinance NGOs dealing with microfinance operations for
the entrepreneurial poor.
Credit Surety Fund Cooperative Act (Republic Act No.10744) 6. The law creates the
Credit Surety Fund (CSF), which acts as a “security for loans of MSMEs from banking
institutions by providing a surety cover in lieu of acceptable collaterals”.
Incubators 7. These are programs targeted towards startups with an existing business
idea, product or concept.
Venture capital 8. These refers to equity investments made for launch and early
development of startups (seed) or expansion of established firms.
Angel Investor 9. There is a private individual, often of high net worth, and usually with
business experience, who directly invests part of his or her personal assets in new and
growing private businesses.
MSME Development Plan 2017-2022(national, enacted in April 2018)10. This lays out a
vision for a “more globally competitive, regionally integrated, nationally resilient, highly
sustainable and productive and innovative, and dynamic MSME sector performing as
one of the most effective drivers of inclusive Philippine economic growth.

Assessment No. 2

Instructions: Please answer in a minimum of 5 and a maximum of 10

sentences.

Rubrics for scoring:

Content 20 points
Organization of thoughts 15 points
Relevance 15 points
Total 50 points

1. In terms of annual income, what financial goals have you set for yourself for five
years after you graduate?
2. What non-financial goals have you set that you could fulfil by becoming an
entrepreneur?
3. Are financial or non-financial goals more important to you? Why?
4. You have set a goal. “I plan to eat healthier. Is this a smart goal? Explain why or
why not. What suggestions would you make for improving it?

Please write your answers here:

1. My Financial Goals for 5 years after graduating is Saving Money, Investing and
Starting a Business. I've always been interested in business. I aim one day to establish
my business and pass it down to my children. Budgeting, education, and time are some
of the factors I must consider as I start on this journey. These three factors, I believe,
will be difficult for me from achieving my long-term aim in creating my own business.
Every long-term goal involves some form of process in completing a task or achieving a
goal. Being successful is not something you can measure physically, and it can only be
measured mentally by the sole ownership of a dream being fulfilled.

2. Non-financial goals I have set to fulfill by becoming an entrepreneur is Long Term

Vision. A start-up business's primary priority is survival, as well as successfully
establishing the business within the restrictions of its financial resources and achieving
profit as quickly as possible. When the company has passed through this first stage, the
management team should start thinking about how the business will develop in the long
run. New markets that the business could enter or new products that could be
developed are among the factors to consider. The goal should be to have a business-
wide focus on recognizing emerging possibilities so that the business may seize them
before competitors do.

3.Setting goals helps the management team focus on the operational steps that must be
taken and the resources required to meet these objectives. Reaching significant non-
financial goals increases the likelihood of the organization meeting important financial
targets like revenue and profitability. Setting short-, medium-, and long-term financial
objectives is a crucial step toward financial stability. You're more inclined to spend more
than you should if you're not working toward a defined goal. When you need money for
unforeseen obligations, not to mention when you want to retire, you'll be short on cash.

4.Yes, setting a goal in planning to eat healthier is a smart goal. SMART goals are
specific, measurable, attainable, realistic and time-bound. Having a broad aim like eat
healthily might result in dissatisfaction, because there is no clear beginning point, no
means to evaluate the feasibility of the goal, and no way to tell if you've succeeded.
Having a SMART goal allows you to define what you want to do and how you will
measure your progress. It is important to evaluate your goals often and adjust them as
needed to maintain your healthy lifestyle. Even if your goals are SMART, you may hit
obstacles or fall back into old habits. It’s not just eating healthy in the short term, but
making long-term changes that may reduce diseases in the future.