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Entrepreneurship - LAS - SHS 1
Entrepreneurship - LAS - SHS 1
Type of Activity: Concept Notes Skills: Exercise/Drill Illustration Performance Task Others: ______
Concepts:
Entrepreneurship involves seeking opportunities for a market, establishing, or operating a business out of
opportunity and assessing its risks and rewards through close monitoring of the operations. We also have the
Social and Economic Benefits of entrepreneurship:
1. Entrepreneurship produces more jobs that equates to an increase in national income.
2. Entrepreneurship amplifies economic activities of different sectors of society.
3. Entrepreneurship introduces new and innovative products and services.
4. Entrepreneurship improves people’s living standards.
5. Entrepreneurship disperses economic power and creates quality.
6. Entrepreneurship controls the local wealth and balances regional development.
7. Entrepreneurship reduces social conflicts and political unrest.
8. Entrepreneurship elicits economic independence and capital formation.
Questions/Exercises
Introductory Exercise:
Suppose you were to set up your own business.
1. What product or service would you like to offer, and you are capable of
producing?
2. Do you think there is a present need for your product or service in your
community? How will you know there is a need?
3. How will you be able to sustain production of your product or continuing
service that you offer for at least three years.
4. How will you make more people buy your product or pay for the service you
Offer?