ARELLANO UNIVERSITY

Juan Sumulong Campus

2600 Legarda St., Sampaloc, Manila
SENIOR HIGH SCHOOL DEPARTMENT
School Year 2022-2023
ENTREPRENEURSHIP

Overview: The students will be able to understand the relevance of entrepreneurship as a subject
matter in Senior High School. This material will helps the reader to deepen their understanding as the
key concepts of entrepreneurship by answer what, who, when and how the process of entrepreneurship
takes place. It also discusses here the mindset of successful entrepreneurs by examining their
personality and mindset. In addition, the students will gain knowledge about outside of business by
identifying the sources of opportunities, innovative ideas so that they can select product as potential
market.

Entrepreneurship
LESSON 1 New Terminologies
Key Concepts of What does an entrepreneur do?
Entrepreneurshi  An entrepreneur is a dreamer who would turn his vision into reality
p  An entrepreneur does not grow old, forever yearning for new things to
learn and explore
 An entrepreneur is an adventurer who would sail through rough seas,
steadfast and without fear
 An entrepreneur has bruises and scars all over because every wound
carries lessons learn and wisdom
 An entrepreneur is compassionate human, ready to give advice to others
 An entrepreneur is a creative artist who is constantly ready to transform
trash into art
 An entrepreneur is an innovator who never runs out of ideas
Factual Information
CONCEPTS OF ENTREPRENEURSHIP
 The word Entrepreneur was derived from the French verb enterprendre
which means “to undertake”. The enterprise is created by an entrepreneur
and the process is called ENTREPRENEURSHIP
 Entrepreneurship is the ability and readiness to develop, organize and run a
business enterprise, along with any of its uncertainties in order to make a
profit. The most prominent example of entrepreneurship is the starting of
new businesses.
 Two types of entrepreneur-
1. Innovative Entrepreneurs- they are those who always make new things
by thinking new ideas. They have the ability to think newer, better and
more economical
2. Imitating Entrepreneurs- They are those who don’t create new ideas but
 only follow the ideas of other entrepreneurs
LESSON 2: NEW TERMINOLOGIES
Entrepreneurial Entrepreneurship Mindset
Mindset  Commitment, determination and perseverance- towards achieving success
can overcome any obstacles
 Drive to achieve- an entrepreneur’s intense desire to pursue high
challenging tasks
 Opportunity orientation- constant awareness of opportunities that exist
everyday
 Initiative and responsibility- they are highly accountable for the success
and failure of the operation
 Seeking Feedback- to know how they are doing and how they might
improve their performance
 Tolerance for ambiguity -the entrepreneur can deal with the various set
back and changes that constantly confront him or her.
 Risk- taking- entrepreneurs decide in a very calculated carefully through-
out manner
 Integrity and Reliability- help build and sustain trust and confidence
 Tolerance for failure- entrepreneurs use failure as a learning experience
 Creativity and innovativeness- produces unique goods and services
 Vision- they have the concept of what their firms can be
 Self-confidence and optimism- their belief in their ability seldom wavers
 Independence- they have the authority to make all important decisions
 Team building- they have highly qualified and high performing teams that
are strongly motivated to handle the venture’s growth and development.
LESSON 3: Market- exchange of goods and services takes place as a result of buyers and seller
Potential Market Sources of Opportunities
1. Environmental Factors
 Trends - these are indicators in the shift of paradigm (or
thinking) of a certain population
 Trends in the society - aging demographics, health and fitness,
lifestyles of young professionals, interests of adolescents
 Trends in technology - mobile technology, e-commerce
 Economic trends - higher disposable income, dual wage earners,
more employed workforce, more student populations, rise in foreign
exchange needs
 Government trends - petroleum prices, regulations, election season,
threat of terrorism
2. Industry Factors
 Knowledge based concepts - basis for creating something brand new
(e.g. Process needs - creation of new medical devices, health foods,
sports drinks, caffeine free drinks, sugar free drinks and time saving
devices
 Demographic changes - changes in age, population, education,
occupation, geographic locations
 Incongruities - these occur when a gap or difference exists between
reality and what is expected
 Perceptual changes - these occur when people’s view on facts and
concepts changes
 Unexpected occurrences - these could be either be success or failures
that were not anticipated
SOURCES OF INNOVATIVE IDEAS
1. Customers- they are the most fruitful source for ideas
2. Competitors- business can often use these ideas and append or modify
them to create new products themselves
3. Internal departments- employees are often the most well informed idea
source and can provide detailed, structured proposals for new products and
services
4. Industry and market structure change- the convergence of multiple
technologies and structural problems that occur from time to time
5. Changes in perception, meaning and mood- the way people view life
changes , where they take their meaning from and how they feel about
things also is modified over time and smart companies must pay attention
to this in order to capitalize
6. New knowledge- finding better ways of doing things and improving
processes.

LESSON 4: Factual Information

Macro  Political - includes all the laws, rules and regulations that govern business
Environment and practices as well as the permits, approvals and licenses necessaryto operate the
Sources of business
Opportunities  Economic - supply and demand factors that drive interest and foreign exchange
 rates that fluctuate with the movement of the market forces
 Socio-cultural - includes the demographics and cultural dimensions (beliefs,
tastes, customs & traditions) that govern the entrepreneurial endeavor
 Technological - new scientific and technological discoveries, which often lead to
the launch and commercialization of new products
 Legal - any new laws
Ecological/ Environmental - opportunities abound for greener, cleaner and
healthier products whose objectives are to save the planet and prolong lives
LESSON 5: Factual Information
Small Businesses  Sari-sari store - it is one of the easiest businesses to set up due to minimal
in the Philippines capital requirement and it can be managed at home where the business owner
lives
 Cellphone loading business - 80% of Filipino households have access to mobile
phone. This is the reason why there are so many cellphone loading business
 Rice retailing - it is very common in the country since rice is a staple food among
Filipinos and otheer Asian countries
 Food cart business - they are usually located inside or outside malls, parks, train
stations, offices and schools. (example: franchise of Siomai in Star mall)
 Printing business - this lucrative business are usually located near schools and
offices and cater the printing needs of students such as reports and projects
 Street food business - these businesses are widespread in the Philippines and
are literally located in streets selling similar food items as food cart businesses
 Flea market business or tiangge - in this type of business, entrepreneurs set up
a small space and sell any type of goods in a palengke set up that is normally in
an open space
 Online selling business - this business deals with adding the internet as a
marketing and transaction channel for selling. ( NOTE: Any social media platform
to sell a product)
 Laundry and dry cleaning services - mostly located near condominiums and
universities. Target market are those individuals who do not have time to have
their clothes washed and ironed, like students and workers