QUARTER 1 – WEEK 2

Work sheets in ENTREPRENEURSHIP

Quiz no.1

A. Read and answer each question by writing the letter that corresponds to your
answer in your notebook.
1. Which among the following benefit from entrepreneurship?
a. Filipino entrepreneurs c. Philippine economy
b. local community d. all of the above

2. Which of the following does not define entrepreneurship?

a. art c. wealth creating
b. science d. risk taking

3. Which of the following first benefit from entrepreneurship?

a. Filipino entrepreneurs c. Philippine economy
b. local community d. all of the above

4. Which of the following is not true about the benefit of entrepreneurship to the
local community?
a. It provides employment.
b. It creates new demand in the market.
c. It promotes peaceful community.
d. It hastens economic failure.

5. Which is the end result of paying taxes?

a. It burdens small scale entrepreneurs.
b. It promotes competition among business ventures.
c. It causes the increase on prices of raw materials.
d. It returns to the citizens through different public services.

6. How does an entrepreneur create value for his/her products or services?

a. by increasing the price of the product or service.
b. by giving products and service for free to those who are in need.
c. by satisfying the needs and wants of the customers.
d. by focusing on product packaging.

7. Which of the following will be an entrepreneur's reaction to risk?

a. Avoid the risk.
b. Face the risk.
c. Pause and wait for the problem to solve itself before continuing operations.
d. Invest on other products or services.

8. Which of the following shows intrapreneurship?

a. production or modification of new products or services
b. managing one's own business
c. creating product value
d. leaving the management of the business to other people for the benefit of the
owner

9. Which is NOT an advantage of learning intrapreneurship?

a. It cultivates creativity.
b. It increases the risk in starting a business.
c. It boosts young entrepreneurs in starting their own business venture.
d. It helps acquire core business concepts.

B. Match the following entrepreneurial skills/competencies in column A with its

definition in column B. Write the letter that corresponds to your answer in your
notebook.

Activity No.1-2.1

I believe you heard at least a version of the race story of "The Turtle and the
Rabbit" Now you will read a new version of the story. Focus on each twist in the story
and answer the questions that follow.
Long long time ago, a rabbit and a turtle argued on who is faster between
them. Nobody wanted to be the inferior one so they agreed to have a race to settle
the issue. They agreed on a route and started running. The rabbit ran fast and had
a huge advantage. After few moments, he paused and checked where his opponent
was. He was far from the turtle that he can’t even see him from his position. He
decided to rest under a tree but unfortunately fell asleep. The turtle kept on walking,
and passed by the rabbit. He reached the finish line even before rabbit woke up. The
turtle won the race.
The rabbit was so disappointed with himself. He now realized that with the
ability he possessed, there is no chance that the turtle will beat him. So he challenged
the turtle again to for a second round. As the go signal was given, the rabbit ran with
all his might without stopping. This time, he won the race.
 The turtle did some thinking about what happened. He knew that there is a
zero chance for him to beat the rabbit with the route that they formatted for the race.
He challenged the rabbit for a third round but he would be the one to decide on the
route that they would take. Without hesitation, the rabbit agreed. The rabbit ran
confidently, until he reached a river. He can’t swim and the finish line is at the other
side of the river. While he was thinking of what to do, the turtle came. The turtle
swam to the opposite bank, continued walking until he reached the finish line. The
turtle again won the third race.

After three rounds of challenging each other, the two became friends and they
both realized that the outcome of the race could have been much better if they will
run together. So, they decided to have a final race together. The rabbit carried the
turtle on his back on the first lap, then, the turtle carried the rabbit on his back as
they pass through the river. On the final phase, the rabbit again carried the turtle
towards the finish line. They were very happy when they reached it and felt more
victorious that they had in the previous races they ran individually. That was how
the story ended.

Answer the following:

1. What is the ending of the first chapter of the story? Is it the same as what you've
heard before?

2. What happened in each succeeding chapter of the story?

3. Do you think the turtle was wise enough on his decision on the third round?

4. Which part of the story had an impact on you?

5. What is the moral of the story? What have you realized after reading the story?

Activity No.1-2.2
Share your experience by writing a short essay on any business venture had before.
Use the following guide questions.

1. What particular product/service did you offer?

2. What was your reason in choosing the business venture you were into?
3. What were the challenges or problems you encountered during the business
implementation?
4. What are the key learnings you had from your business experience?
5. Given the opportunity, are you going to engage into another business venture?
Assessment
A. Fill in the blank with word/s that will make each concept true.
1. The Filipino people, _______________, and the Philippine economy benefit from
entrepreneurship.
2. The term entrepreneur originated from the French word “entreprende” which
means ____________.
3. Entrepreneurs create _________ by introducing new products or services or
finding better ways of making them.
4. Products and services are considered valuable when they satisfy the _________ of
the customers.
5. Entrepreneurship is a/n _________ and not a science thus there is a constant
change.
6. Entrepreneurship education teaches how failure makes people more ________
and innovative.
7. Although profit is a good indication of _________, improving the life of an
entrepreneur is also a priceless outcome of entrepreneurship.
8. Businesses which are managed by other people for the benefit of the owner falls
under _________
9. _________ is a part of any entrepreneurial endeavor.
10. The taxes accumulated by both local and national government will be utilized
for _________

B. Identify the PEC’s shown in each situation.

11. Henry Sy, Sr. came to the Philippines at the young age of 12 and worked in his
father’s small sari-sari store more than 12 hours every day to help him. There, he
devised ways to increase his income by developing small portions of products –
much like the sachets we see today in the supermarkets.

12. In 2013, Netflix progressed exceptionally well under the leadership of CEO Reed
Hastings, who co-founded the company as a mail order movie rental business in
1998. Over the years, Netflix has, of course, evolved into an in-demand internet
streaming company.

13. Founders of Procter and Gamble, William Procter and James Gamble used to
compete with raw materials: animal oil and fat. Procter is a candle maker while his
brother-in-law, Gamble was a soap maker. They were advised by their father-in-law
to merge their businesses. They followed his advice and that was how one of the
largest and most successful company was born.

14. Two years after Tony Caktiong started his ice cream parlor franchise, he
decided to serve hamburgers, fried chicken, and spaghetti as people began to tell
him that they don’t want to eat ice cream all the time.

15. Starbucks is a master of employing value-based pricing to maximize profits,

and they use research and customer analysis to formulate targeted price increases
that capture the greatest amount consumers are willing to pay without driving
them off.