Republic

of the

Philippines
DEPARTMENT OF EDUCATION
Region I
Schools Division Office I Pangasinan
Pangasinan National High School
Lingayen, Pangasinan

ENTREPRENEURSHIP

Introduction to Entrepreneurship

Quarter 1 - Week 1 – Module 1

Most Essential Learning Competency:

• ​Discuss the Relevance of The Course
What I Need to Know
 Distance Learning Delivery of Education today as a mode of learning and communicating to
students in the new normal form of education. Modules and Activity Sheets are the types of Printed
Modular Distance Learning that will be used in Entrepreneurship aside from Digital Modular Distance
learning and Online Distance Learning.
At the end of this module, you will be able to know the nature of
Entrepreneurship. Specifically, this module will help you to:

✓ ​Understand
a. the concepts
b. underlying principles and
c. processes of a business
✓ ​Implement a simple business plan

What I Know

Directions: Read each question/sentence carefully and choose the letter of the best answer.
Write your answers on a separate sheet of paper.

1. People who own, operate, and take the risk of a business venture are called: a.
Employees b. Executive c. Entrepreneurs d. Managers 2. People go into business
for themselves because:
a. They want to set their own schedule.
b. They want to work at home but still earn an income.
c. They hope to pursue a personal dream.
d. All of the above.
3. Which of the following is an example of a service business?
a. Monde M. Y. San Corporation c. Green Cross Incorporated b.
Philippine Airlines d. Unilab Incorporated
4. Thoughts or concepts come from creative thinking are called:
a. Advantages b. Opportunities c. Insights d. Ideas
5. The FINAL step of the problems is to:
a. Evaluate the action c. Gather information
b. Take action d. Select the best option
 6. A possibility that arises from existing conditions is called a(n) ______________.
a. Idea b. Opportunity c. Aptitude d. Entrepreneur 7. An example of non-financial
goal would be:
a. Making a PHP 50, 000 in the first year of operation
b. Have an employee turnover rate of less than 10%
c. Paying off all the business debts within 5 years.
d. All of these are non-financial goals.
8. It is the number of people who have the capacity to buy the merchandise.
a. Locality b. Community c. Market d. Industry
9. The term ENTREPRENEUR was derived from the __________ word “entrepreneur”
which means “to undertake”.
a. Filipino b. English c. French d. Spanish
10. What is an entrepreneur?
a. Someone who takes the risk to invests time and money to start a business.
b. Someone who makes a lot of money.
c. Both a and b
d. None of the above.

What is It
Millions of companies and businesses all over the world have been created by entrepreneurs.
Some people make a big deal out of the fact that there are many successful businesses founded
by entrepreneurs who do not have college degree. The others come from poor families but had
the determination to grow their businesses. However, we must not lose sight of the fact that
other equally successful businesses were founded by college degree earners. Their educational
background is not defining element for entrepreneurial success.
In this module, you will identify the suited businesses for yourself in your community
and identify your skills/talents that you can use for it. You will also explore the job
opportunities for a Senior High School learner like you in the business sector.
LECTURES

Lesson 1
Introduction to ENTREPRENEURSHIP

Famous Entrepreneurs
One well-known entrepreneur was Walt Disney. As a child, Disney grew up on a farm
and spent time drawing pictures of farm animals. As an adult, he continued to draw and
created a cartoon character for a major movie company he worked for. When that company
decided to reduce his pay, Disney quit his job and created another character that led to the
start of a huge company - maybe you've heard of Mickey Mouse?

If you thought you only loved The Champ and Chicken Joy, then be prepared to be
inspired by the man behind the franchise. Tony Tan Caktiong learned the value of hard work
and dedication from his father who worked as a cook in a Buddhist temple. In 1975, Tony
bought a Magnolia ice cream parlor. However, it was not generating enough business. After
talking with his customers and people within the neighborhood, Tony decided to include
sandwiches, fried chicken, and French fries in the menu. In time, the restaurant found itself
packed to overflowing capacity. By 1978, Tony had opened six more restaurants, but the main
item was no longer ice cream. Tony then decided to adapt the McDonald’s concept and named
his franchise after his work ethic of being as “busy as a bee.” Thus, known as “Jollibee.”

Do you have any idea on what entrepreneurship is and its role in the economic growth of our
country?

Content Vocabulary

Entrepreneur,

Venture,

Entrepreneurship,

Entrepreneurial,

Economics,

Free Enterprise System,

profit
Entrepreneurship plays a very important role in the economic growth of a country. It
creates employment opportunities, new market, new products, and technologies.
 Entrepreneurship also establishes industrial linkages, improve foreign exchange rates, and
supply the economy with goods and services that answer the customers’ needs and wants.

The picture above shows a daily scene in a certain place. We can see people having transactions
with one another. Encircle the people who are offering merchandise or services to sell, put a
check mark across those who are buying these merchandise and services.

IMPORTANCE OF ENTREPRENEURSHIP

Entrepreneurship is very important to every nation for the following reasons:

1. It generates/provides employment
2. It helps in the economic growth of the country.
3. It eradicates poverty.
4. It improves our social image across the country.

Basic Concepts of entrepreneurship

Entrepreneurship i​ s an integrated concept that permeates an individual’s business in
an innovative manner. It is a dynamic process of vision, change, and creation.
​ hich means ‘to
The term “entrepreneur” comes from the French word ​entreprende w
undertake”. It is the process of using resources effectively and transforming them into
profitable venture. Through their business ventures, entrepreneurs introduce to the market,
innovations in the form of new product, new processes, new markets and new organization.
Entrepreneurship has traditionally been defined as the process of designing, launching and
running a new business, which typically begins as a small business, such as a start-up
company, offering a product, process or service for sale or hire, and the people who do so are
called entrepreneurs.
Who is Joseph Schumpeter?
​In the 20th century, entrepreneurship was studied by Joseph Schumpeter in the
1930s and other Austrian economists such as Carl Menger, Ludwig von Mises and Friedrich
von Hayek. The term "entrepreneurship" was coined around the 1920s, while the loan from
French of the word ​entrepreneur d​ ates to the 1850s. According to Schumpeter, an
entrepreneur is willing and able to convert a new idea or invention into a successful
innovation. Entrepreneurship employs what Schumpeter called "the gale of creative
destruction" to replace in whole or in part inferior offerings across markets and industries,
simultaneously creating new products and new business models. Thus, creative destruction is
largely responsible for long-term economic growth.
Relationship between small business and entrepreneurship
• ​The term "entrepreneur" is often conflated with the term "small business" or used
interchangeably with this term. While most entrepreneurial ventures start out as a
small business, not all small businesses are entrepreneurial in the strict sense of the
term. Many small businesses are sole proprietor operations consisting solely of the
owner, or they have a small number of employees, and many of these small
businesses offer an existing product, process or service, and they do not aim at
growth. In contrast, entrepreneurial ventures offer an innovative product, process or
service, and the entrepreneur typically aims to scale up the company by adding
employees, seeking international sales, and so on
• ​As an ​entrepreneur​, you accept the risks and responsibilities of business ownership. ​•
The act to promote entrepreneurship in the country was also enacted under Republic
Act 9501 where the government recognizes the specific needs of entrepreneurs, and
encourages the establishments of small and medium enterprises (SME) in order to spur
economic development.
• ​In simpler terms, entrepreneurship is both an art and science of converting ideas into
marketable goods and services to improve man’s quality of life.
What’s More
Title of the Activity: ABCs of Entrepreneurship
Most Essential Learning Competency​: ​Discuss the relevance of the course ​K to 12

BEC CG: Introduction

Directions​: On a separate sheet of paper, write as many words/terms as you

can relate to entrepreneurship with each letter of the alphabet.

Title of the Activity: Community Exploration

Most Essential Learning Competency​: ​Discuss the relevance of the course ​K to 12

BEC CG: Introduction

Directions​: Answer the set questionnaire. Write the question and your
answers on a separate sheet of paper.

1. In your barangay/street, how many businesses are there?

_____________________________________________________________________ 2.
What type of businesses are there? (e.g. Retail – sari sari store)
_____________________________________________________________________
3. What are the products and service that are not offered in your barangay/street?
_____________________________________________________________________ 4.
In your list, identify the products/services that you can offer.
_____________________________________________________________________
_____________________________________________________________________
Title of the Activity: Family Business Exercise
Most Essential Learning Competency​: ​Discuss the relevance of the course ​K to 12

BEC CG: Introduction

Directions​: Copy the illustration in a separate sheet of paper and provide the
information needed.

LOLO’s name: LOLA’s name: LOLO’s name: LOLA’s name:

________________ _______________ ________________ _______________
_ LOLO’s _ LOLA’s _ LOLO’s _ LOLA’s
business/occupation business/occupatio business/occupation business/occupatio
________________ n ________________ n
_ __ ________________ __ ________________
___ __

FATHER’s name:
_____________________________
_ FATHER’s business/occupation:
______________________________

YOU
Name:
MOTHER’s name:
_____________________________
_ MOTHER’s business/occupation:
_____________________________
_
 ________________________________________
The business/occupation you want to have:
___________________________________________

What I Have Learned

Entrepreneurship ​(noun) – It is the process of using resources effectively and transforming
them into a profitable venture.

Market ​(noun) a place usually in the open air where different goods are bought and

sold (verb) to sell in an organized way and on a large scale

(noun) the number of people who have the capacity to buy the merchandise
Merchandise ​(noun) the goods that are sold

Merchant ​(noun) a person who buys or sells goods in a large quantity

Economy ​(noun) the system according to which money, industry, and trade are
organized ​Feasibility study ​(noun) a plan of possible outcomes of a proposed project.

What I Can Do

Directions: ​In a separate sheet of paper make a list of possible businesses (product or services
that you can come up using your PHP 100 (One hundred pesos).
Rubrics:

CRITERIA SATISFACTORY (5) NEEDS IMPROVEMENT (3)

Content Content is accurate and persuasive. persuasive. Specific examples do not
Major points are support topic or there are no examples

stated. Specific examples are given.

used.
Content is not comprehensive and
Grammar, punctuation and and spelling errors are less three grammatical,
spelling than two. punctuation and spelling
Grammatical, punctuation, Paper contains more than errors.

Additional Activities

Posttest

Directions: ​Read each question/sentence carefully and choose the letter of the best answer.
Write your answers on a separate sheet of paper.

1. Local governments strongly promote and support small businesses mainly due to
which factor
a. Businesses serve only the local communities.
b. Businesses may become big businesses.
c. Businesses are owned by one person
d. Businesses are important to the economy.
2. Which statement is most likely to have a negative effect on domestic small business
growth?
a. Involuntary reductions c. Restrictive loan policies b. Low interest d.
Slow inflation
3. Which positive effect do small businesses have on the local community?
 a. Reduction of competition c. Pay in taxes
b. Limitation on job growth d. Charging of interest
4. Which statement is true about entrepreneurship and small business growth?
a. Trade regulations have very little effect on small business growth.
b. Small businesses start-ups are taxed at a higher rate than multinational companies.
c. Many people start entrepreneurial ventures during times of economic recession. d.
Consumer spending is a primary factor that influences entrepreneurial success.
5. Entrepreneurs often discover business start up ideas by looking for gaps between what
is being done and which other factor?
a. How things are being done c. What was done in the past b. When
changes were last made d. What needs to be done
6. Which is a financial concern that entrepreneurs often face when starting new
businesses?
a. Irregular paycheck c. Long working hours
b. Shorter vacations d. Lower production standards
7. What behavior is exhibited when an individual recognizes the possibility of an
undesirable outcome and continues to work toward a goal?
a. Creativity b. Risk – taking c. Self – discipline d. Flexibility 8. Successful
entrepreneurs enjoy their work and often start their businesses so that they can share
their interest and enthusiasm with others. What is this characteristics that is very
important for entrepreneurs?
a. Reservations b. Apathy c. Concerns d. Passion 9. Home based businesses are
attractive to many people because of which factor? Home based businesses usually:
a. Yield higher profit margins. c. Provide owners a steady income. b. Have
lower startup costs. d. Require less technical training. 10. What is a disadvantage of
entrepreneurship?
a. High resources c. Personal Satisfaction b. Lower taxes d.
Uncertain income.