Reference No: KLL-FO-ACAD-000 | Effectivity Date: August 3, 2020 | Revisions No.

: 00

VISION GOALS
A center of human development committed to the pursuit of wisdom, truth, Kolehiyo ng Lungsod ng Lipa aims to:
justice, pride, dignity, and local/global competitiveness via a quality but affordable MISSION
education for all qualified clients. Establish and maintain an academic environment promoting the pursuit of
excellence and the total development of its students as human beings, with fear
of God and love of country and fellowmen.

1. foster the spiritual, intellectual, social, moral, and creative life of its client via affordable but quality tertiary education;
2. provide the clients with reach and substantial, relevant, wide range of academic disciplines, expose them to varied curricular and co-curricular
experiences which nurture and enhance their personal dedications and commitments to social, moral, cultural, and economic transformations. 3.
work with the government and the community and the pursuit of achieving national developmental goals; and
4. develop deserving and qualified clients with different skills of life existence and prepare them for local and global competitiveness

Learning Module
I. COURSE CODE / TITLE : GEE 101 / THE ENTREPRENEURIAL MIND

II. SUBJECT MATTER

TOPICS Time -Frame

A. ENTREPRENEURS AND VALUE March 8-15, 2021

CREATION 1. Entrepreneurs vs.
Businessmen
2. Entrepreneurs that Changed the World
3. Entrepreneurship and Value Creation

III. COURSE OUTCOME:

Upon completion of this course, the students should be able to:
1. Develop the ability to think as an entrepreneur in the context of innovation and value creation.
2. Acquire business acumen and be able to identify business models.
3. Read financial statements and perform simple analysis of basic financial ratios. 4. Apply blue ocean
strategy and design thinking to generate innovative ideas and to create own business model.

IV. ENGAGEMENT
This course is designed to instill the meaning and attributes of entrepreneurship and its social
impact among students through understanding innovation and value creation, acquiring business
acumen, identifying business models, and gaining knowledge of basic financial statements and ratios.
This course also seeks to equip students with design thinking skills that they can apply in identifying
business opportunities through innovation.
Overall, this course aims to encourage students to consider entrepreneurship as an alternative
career and broaden their focus from being employees in the future to becoming potential employers
regardless of their program of study.

DIRECTIONS: Read and analyze the following text as your modular

attachments. A. Entrepreneurs and Value Creation (See Attached Document C)
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V. ACTIVITIES

EXERCISE
Directions: Give the corresponding explanations of the following quotation to explain how entrepreneurs
differ from businessmen.

1. “Failure is a verb, not a noun.”

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2. Rule number five (5): “Don’t take yourself so seriously.”

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3. “A spoonful of sugar helps the medicine go down.”

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4. “People before process. Customers before policy.”

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5. “While it is important to value hindsight, don’t let it limit your foresight.”

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ASSIGNMENT

Directions: Answer the given questions as you read and analyze the given lesson attachments.

1. List at least two (2) Entrepreneurs that made an impact on your life, or the society. Explain how
they made a difference, and how their idea would affect the world if it did not exist?

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2. In your own opinion, how does value creation affect entrepreneurship?

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3. Will you aspire to have a business that creates value for society? Or a business that creates value
for the shareholders? Why?

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VII. OUTPUT (RESULT)

1. Save your file with this file name format: Last Name-First Name-No. Of Activity-Section.
Example:
Espinar-Roxanne-Activity1-Bacomm1A
2. Save your file as PDF.
3. Send your file to the given google form of your instructor.
4. Insert your file to the indicated numbers of activity.
5. Send only once. If it appears that your have sent the file DO NOT resend it.

VIII. EVALUATION
Directions: The Short essay answers will be graded through the use of this RUBRICS.
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PREPARED BY:

ROXANNE C. ESPINAR
Instructor I

GINNER DEL RIO

Instructor I

RECOMMENDING APPROVAL:

MARIA THERESA S. RAÑA

Dean, College of Communication Arts

CHECKED AND APPROVED BY:

BIBIANA JOCELYN D. CUASAY, Ed. D., Ph. D.

Module Editing Committee Chair

NOTED BY:

AQUILINO D. ARELLANO, Ed.D., Ph.D.

Vice-President for Academic, Research and Extension

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ATTACHMENTS: • DOCUMENT C

ENTREPRENEURSHIP AND VALUE CREATION

How Entrepreneurs Differ from Businessmen

∙ Entrepreneurs have an empowering perspective of failure

EXAMPLE: Our traditional school system trains children to close their books and not ask for help at test time.
It grades them on a scale from pass to fail. Along the way, it also trains kids to believe thatfailure is bad. In
reality, failure is simply feedback. Failure is the way we learn and grow. It shows us where there needs to be
correction. For most people, however, failure is not a correction but rejection.

Never take failure personally. Remember:

Failure is a verb, not a noun.

Failure is just something a person does – it’s not something s/he is. We have all failed many times and we
will fail again. It’s part of life. Failure is the opportunity to begin again in a new and better way. Successful
entrepreneurs believe failure is inevitable and educational (Smith, 2012).

Failure is feedback from the real world, and one of the first benefits that a
person can gain from that feedback is the knowledge that he took action. He
created a result. He made an impact on the world. Positive or negative, he
made a difference through your own actions and created an experience he
could learn from.

Entrepreneurs must seek and find the answers they need. It does no good to stay angry and blame others
for a failure after it has happened. Entrepreneurs must learn to detach from blame. Entrepreneurs must stay
strong and choose to get stronger during the failures of life (Smith, 2012).

∙ Entrepreneurs know a little about a lot

EXAMPLE: Smith once heard a story about a CEO who was having a meeting with someone from outside of
his company. During the meeting, an employee burst in and said, “We’ve got a problem. We’ve got to handle
this right now!” The CEO calmly looked at the employee and said, “Remember rule number five (5).” The
employee thought for a second and then smiled, relaxed, and said, “Right
– rule number five (5). Thank you,” and then turned and walked out of the room. The CEO resumed his
conversation and withinminutes another employeecame running inandsaid: “Something hasjustcomeupthat
requires yourimmediate attention.” Once again, the CEO calmly looked at the employee and said,
“Remember rule number five (5).” The employee visibly relaxed and said, “Oh yeah – rule number five (5).
Sorry, I forgot.” Then he smiled and walked out of the room.
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Rule number five (5): Don’t take yourself so seriously.

At this point, the visitor is confused and surprised, because he hasn’t seen anything like this before.When he
asked the CEO what rule number five (5) was, the CEO smiled and said, “Rule number five
(5) is ‘Don’t take yourself so seriously.’ The visitor asked, “How many rules are there?” The CEO gavean even
bigger smile and said, “Just one.”

The moral of the story is that things are rarely as serious as they may first appear. While inexperienced
entrepreneurs may run around trying to put out fires, a more seasoned entrepreneur will let many fires just
burn themselves out. Why? Because entrepreneurs know a little about a lot, and this broader, more
generalized view allows them to see what’s truly important and keep things in a morebalanced perspective.
Knowing a little about a lot makes you realize that although everyone’s role is important, no one role is so
serious that it means success or failure in and of itself (Smith, 2012).

∙ Entrepreneurs give and receive praise correction

EXAMPLE: A karate teacher uses a powerful tool to get the best from his students and himself. It’s called
“PCP”, which stands for Praise, Correct, and Praise. Rather than criticizing or correcting errors immediately,
when the instructor spots a mistake during a student’s training, he uses the PCP strategyto get better results,
first praising or complimenting the student on what he did right, then correctingthe mistake, and then
praising the improvement. Take a kick, for instance. If a child halfheartedly kicks his leg instead of kicking
with force, the instructor might say, “Great, excellent, you got your leg moving in the right direction. Now
let’s do it with more strength.” When the child kicks harder, the instructor gives him a high five and says,
“That’s it, good job!” Praise, then correct, then praise again.

A spoonful of sugar helps the medicine go down.

Praise is like sugar; correction is like medicine. Adults enjoy being praised just as much as children do,and
praising people is a key secret of success (Smith, 2012).

∙ Entrepreneurs fly with eagles

EXAMPLE: Ken Krogue, a writer at Forbes, had his friend, Troy Fullmer, experience a slight inconvenience
during their meal together. He asked the waitress for a little change in how his meal was prepared and the
waitress responded with, “Oh, we can’t do that, I’m sorry.” Troy replied with “Quack quack, I need an eagle.
Can I talk to your manager?” The manager came out and Troy immediately received the slight change he
requested. It was obviously possible.

People before process. Customers before policy.

Just like eagles, entrepreneurs are fearless, and thus, very results-oriented. Also, they are always prepared
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for change. Just like what the manager had done, he put Troy’s comfort first knowing that his concern is a
form of a constructive feedback, rather than a harsh criticism on their management.

Entrepreneurs nurture their team. Eagles build nests and hunts for their eaglets. While eagles push their
eaglets on the edge of the cliff, the father eagle catchesthem until they startflapping their wings. The
manager showed the waitress how to properly handle the situation, so that by the next time it happens, the
waitress will know what to do.

Few people understand the power of vision. A good marriage doesn’t just happen without a vision tomake it
happen. Vision makes things happen; good health doesn’t just happen without a vision to make it happen;
financial freedom doesn’t just happen without a vision to make it happen. Vision attracts power. It’s what
attracts wisdom.

Great entrepreneurs use vision to create a balanced approach to productivity. We balance our time by
planning for the future and taking action in the present. Most entrepreneursspend very little timelooking
into the past. It’s not that hindsight isn’t important – it is, and can be used to develop good foresight – it’s
what we choose to put more of our emphasis on the future (Smith, 2012).

While it is important to value hindsight, don’t let it limit your foresight.

Entrepreneurs that Changed the World

∙ Tony Tan Caktiong (Jollibee)

Tony Tan Caktiong started as an immigrant from a large Chinese family. When he was 22 years old, hestarted
an ice cream parlor franchise – one located in Cubao, and the other in Quiapo. Two (2) years later, he
decided to serve other dishes such as hamburgers, fried chicken, and spaghetti, as people grew tired of
eating ice cream. From there, Caktiong renamed it to Jollibee - a fast food resto that every Filipino child
grew up with.

Caktiong was not intimidated when McDonald’s had its first outlet in the Philippines, mainly becausethe
foreign fast food chain didn’t know the local food culture: Filipinos have a sweet taste on food, and that they
like to smell everything they eat.

Jollibee Foods Corporation started to establish franchises outside of the Philippines: Southeast Asian
countries, Hong Kong, the Middle East, USA, Italy, and the most recent, Canada. These enabled millions of
Filipino overseas workers to get a taste of their home in other countries.

∙ Mark Zuckerberg (Facebook)

At age 31, Mark Zuckerberg is one of the world’s youngest billionaires worth more than $46 billion. Asthe co
founder and CEO of Facebook, he also helmsthe world’s most popular and influentialsocialmedia site that,
as of the fourth quarter of 2017, had more than 2.2 billion active monthly users.

He developed the social networking site with friends while an undergraduate student at Harvard, ultimately
dropping out his sophomore year to focus on Facebook full-time. He opened an office in Palo Alto, California,
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where he raised $12.7 million in venture capital.

Since then, Zuckerberg has aggressively grown the company, which went public in 2012. Not only hashe
developed a robust advertising and sales arm, but he has rigorously built out Facebook’s capabilities and
user bandwidth by enabling native video services and live streaming. Zuckerberg also spearheaded a
number of acquisitions, including Instagram, Oculus VR and a Snapchat-like app called Masquerade.
∙ Steve Jobs (Apple)

Steve Jobs started Apple Computer in his parents’ garage in Palo Alto, California with engineering buddy
Steve Wozniak in 1976. Their mission was to build a personal, portable computer that everyonecould use.
They achieved that with their second model of personal computer, the Apply IIc. In 1980, Apple went public
with a market value of $1.2 billion by the end of its first day of trading.

∙ Elon Musk (SpaceX)

Elon Musk founded the aerospace company in 2002 in order “to revolutionize space technology, withthe
ultimate goal of enabling people to live on other planets,” according to the company website. SpaceX
launched its newest rocket – Falcon Heavy, the most powerful operational rocket in the worldwith reusable
launchers – last February 6, 2018, with zero (0) failure.

In addition to SpaceX, Elon Musk serves as chief executive of Tesla Motor Co., an electric car company, is
chairman and co-founder of SolarCity and is working to build a high-speed “Hyperloop” transportation
system, which – in theory – could revolutionize travel by cutting commute time from Los Angeles to San
Francisco to 30 minutes.

∙ Anne Wojcicki (23andMe)

She is the co-founder and CEO of 23andMe, which sells direct-to-consumer genetic testing kits that are easy
to use – itsimply requires a person to mail in a saliva sample – and relatively inexpensive, at $99 a test. The
company’s genome kits, which was named ‘Invention of the Year” by Time magazine in 2008, tests for 36
recessive disorders, including sickle cell anemia and cystic fibrosis.

In 2013, the company ran into trouble when it was ordered by the Food and Drug Administration (FDA) to
stop selling its kits over questions about the reliability of the results. Instead of arguing withFDA, Wojcicki
worked closely with the agency to prove that the tests were accurate. Thus, in 2015, 23andMe launched an
FDA-approved testing kit.

The company continues to innovate, recently raising $115 million (at a $1.1 billion valuation) to develop its
drug-discovery arm.

∙ Larry Page and Sergey Brin (Alphabet)

Alphabet’s two co-founders, Page and Sergey, met as Ph.D. students at Stanford University in 1995. Shortly
after they collaborated on Backrub, a search-engine company, while living in a friend’s garagein Menlo Park,
California. The tech duo eventually changed the name of their search engine from Backrub to “Google” and
revolutionized the search-engine industry by using a new algorithm that ranked a webpage based on its
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backlinks. Up until then, many existing search engines used human- curated results.

In 2004, Google went public. Since then, the company has diversified, rolling out products including Gmail,
Google Maps, Google+, and Google Glass. The company is also developing products in the self-driving car,
robotics, life sciences and AI industries, among others. With so many simultaneous projects, the founders
created Alphabet, a parent company, in 2015 that serves as a holding entity toits many subsidiaries,
including Google. Brin serves as Alphabet’s president and Page as its CEO.
Value Creation

The Entrepreneurial Value Creation Theory, as from the name itself, explains how entrepreneurs create value
through a venture.

Organizations have nearly perfected implementing the industrial model of managing work – the effort applied
toward completing a task. For individuals, this model ensures that we know what we’re supposedto do each day.
For organizations, it guarantees predictability and efficiency. The problem with themodel is that work is
becoming commoditized at an increasing rate, extending beyond manual tasks into knowledge work, as data
entry, purchasing, billing, payroll, and similar responsibilities become automated. If the organization draws value
from
optimizing repetitive work, one may find that it will be increasingly difficult to extract value.

The value of products and services today is based more and more on creativity – the innovative waysthatthey
take advantage of new materials, technologies, and processes. Value creation in the past was a function of
economies of industrial scale: mass production and the high efficiency of repeatable tasks. Value creation in the
future will be based on economies of creativity: mass customization and the high value of bringing a new
product or service improvement to the market; the ability to find a solution to a vexing customer problem; or
the way a new product or service is sold and delivered.

Becoming “more innovative” has become a mantra of management gurus, but it is clear that this advice is not
enough. The challenge is not just creating value from innovation, but capturing that value as well.

EXAMPLE: Kenneth Frazier, chairman and CEO of the Merck & Co., believesthat businesses existto deliver value
to society. Since becoming CEO in 2011, he has earned praise for stabilizing Merck – an industry thatis always
rocked by change. He has restored R&D’s prominence at the company and overseen promising new
launches,such as the cancer drug Keytruda.

VISION of Merck & Co.

To make a difference in the lives of people globally through our innovative medicines,
vaccines, and animal health products. We are committed to being the premier, research
intensive biopharmaceutical company and are dedicated to providing leading innovations
and solutions for today and the future.
He believesthat while a fundamental responsibility of businessleadersisto create value forshareholders, business
also existsto deliver value to society. Merck has existed for 126 years; itsindividualshareholders have turned over
countless times. But their salient purpose in the world is to deliver medically important vaccines and medicines
that make a huge difference for humanity. The revenue and shareholder value they create is an imperfect proxy
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for the value they create for patients and society.

Value Creation in a Sustainable World

Rationale for A Sustainable World

How did we get to the point where we are running out of the resources (such as oil) that support our way of
life, and others (such as clean air and fresh drinking water) that support life itself? And how didentire
industries, such as fishing and agriculture, find themselves in trouble as well, as chronic
overfishing and the drive for ever-higher crop yields led to wide-spread depletion of fish stocks and ahistoric
loss of topsoil?

The short answer is: We are running out of resources due to our numerous technological success.

In the first stage of the Industrial Revolution (1750-1820), the rise of large-scale manufacturing
causedlabor productivity in England to rise a hundredfold.

But the Revolution did not simply change the way we worked; it transformed
the way we lived, the way we thought about ourselves, and the way we
viewed the world. Nothing like it had ever occurred before.

It didn’t take long for innovations such as the assembly line to spread to other countries in northern Europe
and to the hinterlands of the United States, whose exploding population and vast store of natural resources
enabled the former colony to become the next industrial power. The industry was booming and so, too, were
the material standards of living. As the United States’ population increasedfrom about 10 million to 63 million
between 1820 and 1890, the country’s industrial production grew thirty-fold. The resulting fivefold growth in
output per person was even greater than the productivity gains on the other side of the Atlantic.

The impacts the Industrial Revolution had on the quality of life were undeniable. As industrial expansion
continued into the twentieth century, life expectancy in the industrial world roughly doubled, literacy jumped
from 20 percent to over 90 percent, and benefits hitherto unimaginable sprang up in the formof products
(from private cars to iPods), services (from air travel to eBay), and astounding advances in medicine,
communication, education, and entertainment. With this kind of success, it is little wonder that the side
effects of the Industrial
Age success story went largely ignored.

But the downsides of great prosperity were steadily accumulating from the very beginning. Some werehard
not to notice. In the 1800s, England’s level of fossil fuel combustion grew dramatically, and so toodid levels of
water and air pollution. In the late 1800s, London’s infamous “fog,” particulate emissions from burning coal,
caused a virtual epidemic of respiratory diseases once confined to coal-mining communities. By 1952, air
quality in London was so bad that the “greatsmog” (four (4) days of toxic airtrapped over the city) killed more
than 4,000 people and galvanized the government to create air pollution regulations.

Although the problems of the Industrial Age have been evident for decades, there is now one important
difference, an increasingly inescapable mandate urging us to wake up and start operating differently; global
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climate change (Senge, Smith, Kruschwitz, Laur, & Schley, 2008).

Creating Beyond Reactive Problem-Solving

Problem-solving is about making what you don’t want to go away. Creating involves bringing somethingyou
care about into reality. Thisreflects a subtle yet profound distinction that, we believe, will make all the
difference for the future.
Creating draws its energy from dreams or visions of what people truly want to
see exist, in concert with accurate and insightful understanding of what is.
Reactive problem solving draws its energy from crises, usually driven by an
underlying emotion of fear – fear of the consequences if we fail to solve the
problems.

A sustainable future will entail collective creating of every imaginable sort. It will involve bringing into
existence over time a new energy system, new types of buildings and transport, and new ways to dramatically
reduce waste and toxicity – based on new products, new processes, for making things, newbusiness models,
and new ways of managing and leading. It will require passion and patience, people working together toward
aims that have genuine meaning for them and opening themselves to ideas that may seem foreign and even
threatening. And it will require the courage to act without all the answers, moving beyond the comfortable
approach of “figuring out the answer and then implementingit.” The creative processisinescapably a learning
process, which
means venturing forth into difficult anduncharted territory with openness and humility, continually
discovering our shortfalls.

Tapping and developing the potentials of people and organizations to create the future rather than react to
the resent rests on two (2) foundations that have always been at the core of our work on organizational
learning: visions for the future and an understanding of the present reality.

The power of genuine vision is understood in cultures around the world, as reflected in the biblical admonition
“Where there is no vision the people perish.” But just as important is the ability to see the currentstate of
things as objectively as possible. This is often misunderstood by people who appreciatethe importance of
vision but would rather notlook at difficult or painful aspects of the currentsituation,as well as by those who
prefer to look only at the bad and not recognize what is positive about their current situation that they can
build on (Senge, Smith, Kruschwitz, Laur, & Schley, 2008).

In particular, seeing the present systematically is crucial to creating the future.

People get so drawn into fragmented views of the “problem” that

they often resort to superficial quick fixes.

EXAMPLE: People everywhere today are reacting to different facets of the sustainability crisis, but many of the
efforts represent reactions to what are seen as separate and distinct threats – climate change, high oil prices,
growing waste and toxicity, unhealthy food, watershortages,social and politicalstability
– as opposed to a deep reflection on the interconnections between these different issues (Senge, Smith,
Kruschwitz, Laur, & Schley, 2008).
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Hughes, J. (2014, August 07). What value creation will look like in the future. Retrieved April 02, 2018, from
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Ignatius, A. (2018, February 23). Merck CEO Kenneth Frazier: Businesses exist to deliver value to society.
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Senge, P., Smith, B., Kruschwitz, N., Laur, J., & Schley, S. (2008). The necessary revolution: How indidviduals and
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Smith, K. C. (2012). The top 10 distinctions between entrepreneurs and employees. New York: BallantineBooks.

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