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SHS Entrep - Module 0.1
SHS Entrep - Module 0.1
Entrepreneurship
Quarter 1
Module 0.1: Introduction to
Entrepreneurship
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Entrepreneurship
Quarter 1
Module 0.1: Introduction to Entrepreneurship
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Entrepreneurship - Grade 12
Quarter 1 – Module 0.1: Introduction to Entrepreneurship
I. Introduction:
The outbreak of COVID-19 pandemic led to closure of various business establishments that
resulted to job termination of many employees. Plenty of workers became unemployed and waited for
the assistance from the government. However, there were also plenty of people including the terminated
employees who were able to look for their livelihood during the pandemic. Most of these people were
able to sustain their needs because of their entrepreneurial mind.
Thus, to be able to survive and to keep pace with this hard and challenging world while facing
speed of technological advancements, unexplored doors of various new business opportunities must be
opened up – and that is the role of an entrepreneur. Entrepreneurship, being known to humankind as
one of the most powerful economic force, empowers individuals to seek opportunity where others find
difficult problems. Entrepreneurship is the symbol of achievement and business tenacity. It is a
fundamental source of change in all facets of society and a key to economic development.
II. Objectives
At the end of the lesson you
are expected to:
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• Entrepreneur
Derived from the French word, entreprendre, which means “to undertake” (Pahuja, 2015). This
refers to an individual or groups of individuals that act independently, or as part of a corporate
system, that create new organizations or instigate renewal or innovation within an existing one.
In other book, it refers to those innovators who “undertake” the risk of new enterprises and
generate new ideas to create unique and potentially profitable solutions to modern-day
problems.
• Entrepreneurship
An economic activity of an entrepreneur who is always in search of something new to exploit
new ideas into gainful opportunities by accepting the risk and uncertainty of the enterprise.
It covers the occurrence of organizational innovation or creation of new products that occurs
inside or outside the existing organization (Cuervo, et al., n.d.).
• Enterprise
A business or an establishment created by an entrepreneur.
IV. Pre-Test
Direction: Carefully read the statement below. Place a T on the line if you think the statement is TRUE
and place an F on the line if the statement is FALSE.
Entrepreneurship is a complex phenomenon which is influenced by the interplay of a
1.
wide variety of factors that include personality, internal and environmental factors.
Entrepreneurship involves creation and use of innovative ideas, maximization of output
2.
from given resources, and development of managerial skills.
3. An entrepreneur is a high risk-taker.
4. To be an entrepreneur, one needs money only.
5. Entrepreneurship, like leaders, are born, not made.
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V. Learning Activities
Your Task: Give an example of a product that has become widely used in this time of
COVID-19 pandemic. Compare its cost and benefits with its competing products and choose which of
this product is the best alternative. Discuss the reason why you choose such alternative. With your
innovative mind, what suggestion can you give to further enhance or improve the product? Please
accomplish the table below in a separate sheet of paper.
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Name of Product Brand A Brand B Brand C Other Brand
2. Creation of organizations
1. ___________________________________________
2. ___________________________________________
3. ___________________________________________
4. ___________________________________________
5. ___________________________________________
Your Task: Give at least five (5) examples of products owned by an individual that signifies his
high standard of living.
1. ___________________________________________
2. ___________________________________________
3. ___________________________________________
4. ___________________________________________
5. ___________________________________________
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4. Means of economic development
The economic development of a country is evident by high employment rate, sprouting of various
business establishments as well as improvement
of the country’s infrastructures, facilities and
services. These kinds of development are made
possible by entrepreneurs.
Your Task: Give at least five (5) scenarios wherein we can observe that our economy is being
developed.
1. ___________________________________________
2. ___________________________________________
3. ___________________________________________
4. ___________________________________________
5. ___________________________________________
Entrepreneurs
➢ Entrepreneurs are the person who undertake entrepreneurial activities; recognizes an
economic need, thinks of a business solution, undertake to assemble the required
resources, and assumes the risk of either failing or succeeding.
➢ Entrepreneurs are innovators, willing to take risks and generate new ideas to create
unique and potentially profitable solutions to modern-day problems.
Entrepreneurship
➢ Entrepreneurship is the process of creating something new, be it a product or a service,
and assuming the risks and rewards.
➢ It also refers to economic activity of a person or an organization who starts, manages
and assumes the risk of business enterprise.
➢ Entrepreneurship ranges in scale from solo projects (even involving the part-time
entrepreneur) to major undertakings that create many job opportunities (De Guzman,
2018).
➢ Entrepreneurship employs what Schumpeter called the “gale of creative destruction”
to replace wholly or partly inferior innovation across markets and industries. This
destruction simultaneously creates new products and new business models (De
Guzman, 2018).
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Story Time….. The Origin of Post-it Notes.
Everyone knows what Post-it® Notes are. These are those great little self-stick
notepapers. Most people have Post-it Notes. Most people use them. Most people love them,
but Post-it Notes were not a planned product. No one got the idea and then stayed up nights
to invent it.
One day, a man named Spencer Silver was working in the 3M research laboratories
in 1970 trying to find a strong adhesive. He was able to developed a new adhesive, but it was
even weaker than what 3M already manufactured. It stuck to objects, but could easily be
lifted off. It was super weak instead of super strong.
No one knew what to do with the stuff, but Silver didn't discard it. Then one Sunday
four years later, another 3M scientist named Arthur Fry was singing in the church's choir. He
used markers to keep his place in the hymnal, but they kept falling out of the book.
Remembering Silver's adhesive, Fry used some of it to coat his markers. Success! With the
weak adhesive, the markers stayed in place, yet lifted off without damaging the pages. 3M
began distributing Post-it ® Notes nationwide in 1980 -- ten years after Silver developed the
super weak adhesive wherein today became one of the most popular office products
available…. Spencer Silver, Arthur Fry…intrapreneurs.
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Aside from being an example of incremental innovation, Post-it Notes can also be
considered as what Schumpeter called the “gale of creative destruction” that instead of
creating a strong adhesive, Silver was able to developed a weaker adhesive that later became
a necessary office supply.
1. Environmental factors
These factors relate to the place or conditions in which an entrepreneur has to work. Factors
such as economic and social conditions, political climate, legal system, and market situations are
just few examples of environmental factors that significantly affect the economic activities of an
enterprise.
For example, the tax imposed by the Bureau of Internal Revenue on the online sellers of
commodities affects the production of goods and/or services of an enterprise.
2. Personality factors
These are the traits possessed by an entrepreneur.
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1. Drive. An entrepreneur is self-motivated enough to pursue his chosen course without
relenting even in the face of adversity. If he fails in his first attempt, he makes another
attempt.
2. Critical thinking. An entrepreneur’s job involves decision-making and problem solving.
A man with superior thinking ability can see through the maze of information (or
disinformation) brought before him.
3. Human relations ability. An entrepreneur possesses high social awareness and ability to
build relationship with others.
4. Ability to communicate. Communication skill is a very important characteristic that an
entrepreneur must possess in order to succeed. The ability to understand and to be
understood makes it easier for the entrepreneur to transact business.
5. Technical knowledge. An entrepreneur must have familiarity of the business venture he is
going to undertake.
6. Reasonable risk taker. When a person starts a new venture, he has already begun to
assume the risk of business failure. Entrepreneurs enjoy challenges. But they are careful
and calculating. So, they do away from high risk situations, because these might not be
attainable. However, entrepreneurs also avoid low-risk situations because there are no
challenges. A risk situation exists when results are not certain, either it is success or failure.
In view of the risk-taking abilities of entrepreneurs, they make things happen rather than
let them.
7. Self-confident. Entrepreneurs have strong faith in their abilities. They believe they can be
the best in their field. They do not accept things as they are, because they believe they can
do things better.
8. Goal setter. An entrepreneur usually has a specific target and because he is persistent to
achieve a certain target, he creates strategies and action plan.
9. Accountable. An entrepreneur takes full responsibility of whatever will happen to the
enterprise.
10. Innovative. An entrepreneur always seeks for something new and useful product or
service. He always strives to discover new things or strive to improve existing products or
services.
3. Biological factor
This factor is something new. The writer of this module decided to include biological
factor since many enterprises had been affected by the COVID-19 pandemic. This pandemic is
a kind of viral respiratory infection that has no cure yet at the time of this writing.
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Practice Activity 3. The Thinker
As an entrepreneur, you should have a new business idea. What
business idea do you have in mind which you think will negatively be
affected by the aforementioned environmental and biological factors? By
using your critical thinking ability, what are you going to do in order to
solve the issue? Write down your answer on the table provided below.
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Practice Activity 4. Case Analysis
In this time of pandemic, Al Cojol is thinking of other
means of livelihood. Then suddenly, he saw the bulk of unused
clothing which are stored in his closet. He thought of a product that
could be generated out from that available material. If you were Al
Cojol, what kind of business idea or product could you have in
mind? Since we have limited mobility, what are you going to do in
order to market your product? What innovation or improvement
Photo from google.com could you do to encourage the people to patronize your product and
what are the ways that you are going to do in order to determine that your product is profitable?
The restaurant took off. When Tony Caktiong heard about Sia’s growing business, he decided
to buy Mang Inasal for a total of P5 billion. Sia eventually put the sales of Mang Inasal to other
investments like banking and healthcare. At 42, he’s considered the country’s youngest billionaire
(business.inquirer.net, 2020).
Instruction: What entrepreneurial traits do Edgar Sia possess? List as many possible answers as you
can on the table provided on the following page.
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Entrepreneurial Traits
1. 6.
2. 7.
3. 8.
4. 9.
5. 10.
Process Question:
1. How were you able to identify the entrepreneurial traits of Edgar Sia? What was your basis?
Write your answer on the following line provided.
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
Process Question:
2. Upon knowing that Mang Inasal is now owned by Jollibee Foods Corporation, what factor/s do
you think had led Mr. Edgar Sia to sell his business? What was your basis? Write your answer
on the line provided below:
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
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Rubrics:
Content Grammar
20 You were able to cite 10 You committed no or minimal
entrepreneurial traits and grammatical error in the output
discussed the basis of your
answer. You were also able to
cite the factor/s that led Mr. Sia
to sell his business and
discussed the basis of your
answer.
10 You were able to cite at least 5 You committed two (2) to three
entrepreneurial traits and (3) errors in the output
discussed the basis of your
answer. You were also able to
cite the factor/s that led Mr. Sia
to sell his business and
discussed the basis of your
answer.
LET US ASSESS!
Guide Questions:
1. Which part of the activities was difficult to answer? Why?
2. Which part of the activities was easier to answer? Why?
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VII. Post Test
Direction: Read each question carefully and answer the demands of the following questions. Please use
separate sheet of paper.
VIII. Assignment/Additional
Activities
Look for an entrepreneur in your area. What product or service is being provided by such
entrepreneur? Is his or her product unique compared from the other available products in the market?
Prepare a checklist to determine whether he possesses the entrepreneurial traits.
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References:
Cuervo, et al (n.d). Entrepreneurship: concepts, theory and perspective. Introduction. Google books.
Retrieved from https://ks.google.com.ph on June 19, 2020.
Orcullo, N. Jr., (2019). Contemporary entrepreneurship. New Galaxie Lithographic Arts and Printing
Press, 2000. Quezon City.
Room, B. (2019). Eight Successful Filipino Entrepreneurs Who Started Small. Retrieved from
https://business.inquirer.net/273445/eight-successful-filipino-entrepreneurs-
who-started-small on June 22, 2020.
https://www.google.com
https://www.manginasal.com/newspost/mang-inasal-now-fully-owned-by-jollibee/
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