Republic of the Philippines

Department of Education
DIVISION OF CALAPAN CITY

Date of Development June, 2020

Grade Level 12
Learning Area Entrepreneurship
Week of the Quarter / Grading Period Week 1/Quarter 1
Content Standards The learner demonstrates understanding of key
concepts, underlying principles and core
competencies in Entrepreneurship.
Performance Standards The learner independently creates/provides a
quality and marketable product and/or service
in Entrepreneurship as prescribed in the TESDA
Training Regulation.
Most Essential Learning Competencies  Discuss the relevance of the course
 Explore job opportunities for
Entrepreneurship as a career
Source Entrepreneurship MELCs/Modules from DepEd
Prepared (Position/Division) Mary Jean L. Claveria

Week 1
Overview of Entrepreneurship and its Relevance to SHS Students
What I Need to Know?
This module was written for you to accomplish at home. It was carefully designed so
that you can work at your own pace and allow self-discovery of the concept through activities that you will perform.
Activities were also selected to allow independent learning which also aims to develop your reading comprehension
skills through understanding written texts. It covers many different learning situations where you can relate your
personal experiences on different practical scenarios about Entrepreneurship.

After going through this module, you are expected to:

1. Increase your knowledge about entrepreneurship.
2. Determine the relevance of Entrepreneurship to your everyday life and to the society as a whole.

What I Know?
To check your prior knowledge about the topic, and to solicit the questions that you want to
know about it, fill in the Know and Want to know components of the Know-Want to know- Learned (KWL) chart
legibly. For the Know component, you may write word/s or phrase. For the want to know component, state your
responses in interrogative or question form. You may list as many responses as you want for each component. Write
your responses on a yellow paper.
KWL Chart
Topic Know Want to know Learned
Concept of Entrepreneurship
Relevance of
Entrepreneurship to your
everyday life
Guide Questions:
 1. Based on what you have written on the Know component of the chart, what do you know about
entrepreneurship and its relevance to your everyday life and to the society as a whole?
2. If you were to think of a question that you want to ask about entrepreneurship and its relevance to your
everyday life and to the society as a whole?

What’s In?
The word “entrepreneur” is derived from the French verb entrepreneur, which means “to
undertake”. This refers to those who “undertake” the risk of new enterprises. An enterprise is created by an
entrepreneur. The process of creation is called “entrepreneurship” (www.yourarticlelibrary.com).

DIRECTIONS: After you have filled-in the K and W components of the chart and answered the guide
questions, please answer the diagnostic assessment below.

DIAGNOSTIC ASSESSMENT
Identification. Read carefully the statements below and identify whether this refers to Entrepreneurship or
Entrepreneur. Write your answer in a yellow paper.

1. A person who undertakes the risk of starting a new business venture.

2. It is high-risk, but also can be high-reward as it serves to generate economic wealth, growth, and
innovation.
3. Creates a firm, which aggregates capital and labor in order to produce goods or services for profit.
4. It is an important driver of economic growth and innovation.
5. Creates a business plan, hire labor, acquire resources and financing, and provide leadership and
management
for the business.

What’s New?

Entrepreneurship is one of the resources economists categorize as integral to production; the three
resources are land/natural resources, labor and capital. An entrepreneur combines these three to manufacture
goods or provide services. They typically create a business plan, hire labor, acquire resources and financing, and
provide leadership and management for the business (www.investopedia.com).

Definition of Terms: To fully understand this module, please read carefully the
definitions in column A and match it with the word/phrase in column B. Write your
answer in a yellow paper.

Column A Column B
1. It involves developing new products or improving existing technologies, A. Livelihood
processes, designs and marketing to solve problems, increase efficiency,
reach new customers, and ultimately increase profits.
2. Involves sale or lease of any product, service, equipment, etc. that will enable B. Entrepreneurship
the purchaser-licensee to begin a business.
3. Refers to the act of creating a business or businesses while building and scaling C. Social Change
it to generate a profit.
4. Refers to their "means of securing the basic necessities (food, water, shelter and D. Socioeconomic
clothing) of life".
5. The system of production, distribution and consumption. The overall measure E. Business Opportunity
of a currency system; as the national economy.
6. Is a person who sets up a business with the aim to make a profit. F. Business Venture
7. Refers to any significant alteration over time in behavior patterns and cultural G. Relevance
values and norms.
8. Related to the differences between groups of people caused mainly by their H. Business
 financial situation. Innovation
9. It is a new business that is formed with a plan and expectation that financial I. Entrepreneur
gain will follow. It is usually formed out of a need for a service or product that is
lacking in the market.
10. It is simply the noun form of the adjective "relevant," which means "important J. Economy
to the matter at hand."

What is It?
Take a deep breath then you may start reading the lesson 1 and 2 below about the overview of
entrepreneurship and its relevance to SHS Students.

Lesson 1: Overview of Entrepreneurship

Meaning of Entrepreneurship and Entrepreneur
(www.investopedia.com, www.reference.com, www.europeanentrepreneurship.com)
Entrepreneurship is…
 The act of creating a business or businesses while building and scaling it to generate a profit.
 An important driver of economic growth and innovation.
 What people do to take their career and dreams into their hands and lead it in the direction of their own
choice.
 About building a life on your own terms. No bosses. No restricting schedules. And no one holds you back.
An entrepreneur is…
 A person who sets up a business with the aim to make a profit and creates a new business, bearing most of
the risks and enjoying most of the rewards.
 An innovator, a source of new ideas, goods, services, and business/or procedures.
 Playing a key role in any economy, using the skills and initiative necessary to anticipate needs and bring good
new ideas to market.
Note: Understanding what an entrepreneur is can help more people recognize the value they contribute to the
world. Entrepreneurs take the idea and execute it while entrepreneurship is about execution of ideas.

Entrepreneurship in the Philippines (Batalla, V. (2011)

The notion of the entrepreneur as simply one who forms and manages business is apparent in government
programs that attempt to develop small-scale industries. In the Philippines, many entrepreneurial development-
training programs rest on such assumptions. But even without the presence of government support, the statistics for
the past fifty years or so on the number of business establishments formed every year would generally show an
increasing trend. They were mostly in food processing, property development, and trade (including shopping malls).
In 2005, the top 50 Philippine corporations in terms of sales could be broken down into 22 private domestic
firms, 23 foreign firms, and 5 government-owned and/or controlled corporations (BizNews Asia 2007as cited by
Batalla, V., 2011). The 22 companies could be identified with 11 families and individuals, mostly Filipinos of Chinese
ethnic background. The 11 families and individuals were the Zobel family (Ayala), the Lopez clan, Lucio Tan, Henry
Sy, John Gokongwei, Alfonso Yuchengco, Eduardo Cojuangco Jr., Jose Yao Campos (Unilab Group of Companies),
George Ty (Metrobank), Mariano Que (Mercury Drug), and Tony Tan-Caktiong (Jollibee).

Lesson 2: Relevance of Entrepreneurship to SHS Students

Importance of Entrepreneurship (www.reference.com)

1. Entrepreneurship generates new wealth in an economy.

2. Entrepreneurship decreases poverty.
3. It creates opportunities, ensures social justice, instills confidence and stimulates the economy.
4. Entrepreneurship improves productivity
 5. Entrepreneurs create jobs.
6. Entrepreneurs innovate.
7. Entrepreneurs create innovation and social change
8. Entrepreneurs give to society

Relevance of Entrepreneurship to SHS Students

(www.europeanentrepreneurship.com)

1. To prepare students for livelihood even before college.

2. Entrepreneurship education aids students from all socioeconomic backgrounds to think outside the box and
nurture unconventional talents and skills.
3. Entrepreneurship develops their initiative and helps them to be more creative and self-confident in whatever
they undertake and to act in a socially responsible way.
4. It exposes students to numerous opportunities to learn how to think critically and analyze the pieces on the
board.
5. Being aware of all the important factors and seeing how they affect each other is the foundation of a smart
decision-making process.
6. Students have to be exposed to real-world examples and learn from their own experience.
7. Entrepreneurship education requires students to be innovative, creative and collaborative with
others.
8. Entrepreneurship education provides budding entrepreneurs with the skills and knowledge to come up with
business ideas and develop their own ventures.

What I Have Learned?

You have to fill in the L component of the KWL chart to generalize the things you
have learned about the topic. Write your answer in a yellow paper.
KWL Chart
Topic Know Want to know Learned
Overview of I have learned that ……
Entrepreneurship
Relevance of
Entrepreneurship to
SHS Students

What I Need to Reflect?

Embarking on the entrepreneurial career path to “being your own boss” is exciting. But along with all your
research, make sure to do your homework about yourself and your situation (investopedia.com).
A Few Questions to Ask Yourself (ww.investopedia.com)
 Do I have the personality, temperament, and mind-set of taking on the world on my
own terms?
 Do I have the required ambiance and resources to devote all my time to my venture?
 Do I have the required network to seek help and advice as needed?
 Have I identified and built bridges with experienced mentors to learn from their
expertise?
 Have I identified my target customer base for the initial phase?
 Have I identified sales and distribution channels?
 Who are the funding sources I may need to approach to make this big?
 What technical infrastructure do I need?

What I Can Do?

 DIRECTIONS: After you have filled-in the L component on the chart, please work on the
WORK IN PROGRESS

You are tasked to conceptualize your future business plan which you can work on as we discuss our next
lessons and later you may venture into after finishing this subject.

Formative Assessment

Multiple Choice: Read and answer each statement carefully then write the
letter of the best answer on a separate sheet of paper.

1. Who acts as a coordinating agent in a capitalist economy?

A. Manager C. Entrepreneur
B. Finance Officer D. Broker
2. Which of the following is not a definition of Entrepreneurship?
A. It creates opportunities, ensures social justice, instills confidence and stimulates the
economy.
B. It is an important part of the economic growth strategies of many local and national governments around
the world.
C. Refers to a person who sets up a business with the aim to make a profit.
D. The act of creating a business or businesses while building and scaling it to generate a profit.
3. Which of the following is a relevance of Entrepreneurship to SHS Students?
A. It generates new wealth in an economy.
B. It aids students from all socioeconomic backgrounds to think outside the box.
C. It creates opportunities and ensures social justice.
D. It creates job.
4. Which statement is not correct about the status of entrepreneurship in the Philippines?
A. The number of business establishments formed every year would generally show an increasing trend.
B. N-entrepreneurs are people who can secure resources such as technology and information to gain distinct,
sustainable, competitive advantages.
C. In 2005, the top 50 Philippine corporations in terms of sales could be broken down into 25 private domestic
firms, 20 foreign firms, and 5 government-owned and/or controlled corporations.
D. The 22 companies could be identified with 11 families and individuals, mostly Filipinos of Chinese ethnic
background.
5. Which of the following words is not associated with entrepreneur?
A. Innovative C. Collaborative
B. Impulsive D. Creative
Congratulations!!! You are done in this module. You may now proceed in the next
module.

References

Book

Teacher guide donated by Higher Education Department to DepEd

Websites

Batalla, V. (2011). Entrepreneurship and Philippine Development. Retrieved from: https//www.academia.edu/26552052/Entrepreneurship_andPhilippine_

Development

Entrepreneurship: Characteristics, Importance, Types, and Functions of Entrepreneurship, Retrieved from: https://www.yourarticlelibrary.com/

Hayes, A. (2020). Entrepreneur Retrieved from: https://www.investopedia. com/terms/e/entrepreneur.asp

What Is the Importance of Entrepreneurship? Retrieved from: https://www.reference.com/business-finance/importance- entrepreneurship-a80aee8f21d6b6c1

Why We Need to Study and Learn Entrepreneurship? Retrieved from: https://www.europeanentrepreneurship.com/need-study-learn- entrepreneurship-education/