ENTREPRENEURSHIP

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
(MELCS)

• Discuss the relevance

of the course
• Explore job
opportunities for
Entrepreneurship as a
career
Benefits to Senior High School Students.

1. Classify individual entrepreneurial interests.

2. Apply basic marketing acumen.
3. Determine legitimate sources of resources.
4. Analyze ownership structures.
5. Convert threats into opportunities.
6. Adaptation of concepts and strategies for idea
generation.
7. Evaluate feasibility of ideas.
8. Discovery of entrepreneurial innovators who also have
the competence and edge to start their own businesses.
9. Consider ethical and legal business practices.

10. Write a micro business plan

 I M P O R TA N C E O F E N T R E P R E N E U R S H I P
E D U C AT I O N

01 02 03 04
ENTREPRENEURSHIP ENTREPRENEURSHIP ENTREPRENEURSHIP ENTREPRENEURSHIP
IS VERY IMPORTANT EDUCATION IS AN WILL ENERGIZE WILL TRANSFORM
TO OUR ECONOMY AS INDIVIDUAL SCHOOL LEARNERS TO BE
KEY DRIVER. LIFELONG LEARNING MANAGEMENT. INNOVATORS.
PROCESS.
 W H AT I S
ENTREPRENEURSHIP?
What is Entrepreneurship? Let us talk about is Entrepreneurship. It is described
as the process of creating something new whether it is a product or a service that
brings benefit by devoting the time and energy needed to consider the financial,
psychological and social risks, and achieving the possible incentives for financial
and personal satisfaction and freedom. To be an entrepreneur or a businessman
means someone has to be able to create something new that can offer value to its
chosen market to be able to get something in return and convert it to a profitable
business.
 W H AT I S A N
ENTREPRENEUR?
 An entrepreneur is an individual who plans, organizes
and operates a business or businesses, taking greater than
normal financial risks, psychic and social risks. He is
someone who creates, or looks for ideas for business,
which is then implemented to become a business. Idea Another element that is important in becoming an
creation is one; the real deal is starting the business and entrepreneur is passion.
making the idea a reality. There are lot of people who
have great ideas in mind but failed to start, until someone
started it and they said to them, “that was my idea few
years ago…” Implementation is the KEY.
 T O P FA M O U S
ENTREPRENEURS
WORLDWIDE
1. JEFF BEZOS

Jeff Bezos is the founder of Amazon, one of

the biggest and most popular companies on
the web. Amazon started as a simple online
bookstore in Jeff’s bedroom, and the initial
sales were slow.
2 . B I L L G AT E S I S T H E F O U N D E R O F M I C R O S O F T , A N D
WA S T H E R I C H E S T M A N I N T H E W O R L D F O R S E V E R A L
Y E A R S R U N N I N G . G AT E S F O U N D E D M I C R O S O F T I N 1 9 7 5
W I T H PA U L A L L E N , A N D H A S S I N C E B E C O M E T H E
L A R G E S T P C S O F T WA R E C O M PA N Y W O R L D W I D E .
B e r n a r d a r n a u l t i s
t h e C E O o f L V M H
( l o u i s v u i t t o n m o e t
h e n n e s s e y ) .

U l t i m a t e l y , t h e
c o m p a n y w a s f o r m e d
f r o m m e r g i n g t h e t w o
b u s i n e s s e s t o g e t h e r .
L o u i s v u i t t o n i s t h e
v e r y s u c c e s s f u l
l u x u r y f a s h i o n
b r a n d , a n d m o e t
h e n n e s s e y i s t h e
m e r g e d c h a m p a g n e
a n d c o g n a c
m a n u f a c t u r e r s .

B e r n a r d h a s b e e n
m a k i n g s e r i o u s
m o v e m e n t s u p t h i s
l i s t i n t h e p a s t y e a r .
I n f a c t , a t t h e
b e g i n n i n g o f 2 0 1 7 ,
h e w a s a t 1 4 t h . N o w ,
a f u l l 3 y e a r s l a t e r ,
h e ’ s p l a c e d a t 3 r d
o n t h e l i s t o f t h e 2 5
r i c h e s t p e o p l e o n
e a r t h i n 2 0 2 0 .
4 . M A R K Z U C K E R B E R G
N E T W O R T H : $ 8 6 . 5 B I L L I O N
W E A L L K N O W M A R K Z U C K E R B E R G A S T H E F O U N D E R O F
F A C E B O O K . F A C E B O O K H A S B E C O M E T H E M O S T P O P U L A R A N D
M O S T V A L U A B L E S O C I A L M E D I A C O M P A N Y I N T H E W O R L D . A N D I T
A L L S T A R T E D I N M A R K ’ S D O R M R O O M A T H A R V A R D U N I V E R S I T Y .
5 . WA R R E N B U F F E T T
N E T W O R T H : $ 8 9 . 9
B I L L I O N
WA R R E N B U F F E T T I S A N
A M E R I C A N
E N T R E P R E N E U R A N D
I N V E S T O R , A N D C E O O F
B E R K S H I R E H AT H A WA Y.
B U F F E T T I S T H E M O S T
S U C C E S S F U L I N V E S T O R
W O R L D W I D E , A N D
M I L L I O N S O F O T H E R
T R A D E R S L O O K U P T O
H I M B E C A U S E O F H I S
S U C C E S S .

• In 2019, Berkshire Hathaway's companies and holdings

contribute a variety of commodities and services to the
market - including producing computers and electronic
products, providing insurance, producing clothing, serving
food products, automotive products and services and much
more.
ENTREPRENEURIAL
COMPETENCIES

1. Entrepreneurial Competencies refer to the
fundamental characteristics and traits possessed by
successful entrepreneurs that made them succeed in
their chosen enterprise. McClelland and McBer (1985)
Examples
Greeting customers upon entering the door of a fast
food shop and thanking them when leaving.
1. Initiative The entrepreneur should take initiative in
learning their industry they belong to, go the extra mile,
and do more than what is expected from them. An
entrepreneur always looks for new and better ways of
doing things, getting ahead of others and aims to lead in
their chosen industry or line of business.
Extending and serving more customers by opening
outlets in new areas and creating new products or
services by proactively researching what the market
needs.
 An entrepreneur always has the eyes open for new opportunities and most importantly acting on
them. As an entrepreneur, it is very important to always look at the industry trends, anticipate needs of
customers, even new technologies that will help them give value to the customers, as well as opportunities
that could help them expand their existing business. After knowing the market, an entrepreneur should be
able to act and execute as soon as possible to get ahead in offering products and services to its customers.

Examples
• Apple Company known as personal computer manufacturer expanding its business to iPods, iPhone, iPad
and even iTunes. The company saw the demand of consumers for communication and entertainment and
created products that enable them to provide for their customers.
• Jollibee started its business as an ice cream parlor, found out that Filipinos wanted hamburgers being
offered by McDonalds, and later created its own line of hamburger sandwich products.

2. SEES AND ACTS ON OPPORTUNITIES

 In today’s business world, there are lot of competitors that are trying to take a
share of the pie or the so called market. The entrepreneur’s main job when it comes to
competition is to be able to persist in aiming and taking actions for the firm’s growth by
getting the greatest number of customers.

•Examples

• KFCs new products come out every three months and test how customers accept it as
part of their effort to pull more customers to their restaurants.
• Samsung competing head to head with Apple in providing electronics and technology
products to consumers.

3. PERSISTENCE
 Access to information has never been easy as today. In fact, there is so much information that
the question now is how to find the right information and use it to the company’s advantage and
create better products and services for the buyers. It is very essential for an entrepreneur to
make sure that he/she gets the appropriate and significant information, the quickest time
possible.

•Examples
• Augmented realities being introduce now with the used of Virtual Reality (VR) devices.
• Consulting industry experts in getting relevant and up to date information.
• Seeking information or asking questions to clarify customer’s needs and concerns.
• Doing market research, analysis, or investigation.

4 . I N F O R M AT I O N S E E K I N G
 Each entrepreneur started an enterprise because of an idea, but it does not end there. The

entrepreneur should always strive to improving and enhancing the products or service to deliver the
best work for its customers. This is the reason why companies have their Research and
Development (R&D). A company that does not innovate will for sure loose in the game. Additionally,

there should always be a company standard to have consistency in delivering to its customers.

Examples

• Strong yearn to produce and sell a top or best quality product or service.

• Jollibee having a standard from measurement of every ingredient up to number of minutes a meal
should be served to the customer.

5. CONCERN FOR WORK QUALITY

 Starting a business is one, but to execute and delivering on time to customers is another. An
entrepreneur should always have in mind that company’s reputation builds by delivering great products and
service to customer and delivering on time is very important. 80/20 Rule, known as Pareto Principle states that
the last 20% of the task needs the 80% effort, and if the entrepreneur doesn’t understand that finishing task’s
importance, the customers will be short changed and therefore company loose it chance in proving itself in the
marketplace, and will likely lose customers and it business.
•Examples

• Doing all extraordinary effort to complete a job to satisfy customers.

• Accepting full responsibility for problems and therefore ready to provide resolution.
• Having a customer service hotline for customer complaints.
• Real concern for satisfying the customer.

6. COMMITMENT TO WORK CONTRACT

 To succeed, an entrepreneur must always find ways of doing things more efficiently and effectively, with
fewer resources and at a lower cost as possible. Companies constantly think of efficiency in operations
and delivering to its customers. Start-up companies normally have less financial capital, so knowing
their situation and being able to produce quality products with limited resources is really critical for them.

• Examples
• Using internet to sell products rather that opening a physical store.

• Using video presentations product write-ups and posted on social media platforms as marketing tools.

• Jollibee using video contents such as “Best Friend”, “Cashier”, “Crush”, “Perfect Pair and “Apo”.

7 . E F F I C I E N C Y O R I E N TAT I O N
Effective Vs Efficient
 As the saying goes, “Failing to Plan is Planning to Fail”. There are lot individuals that
started businesses and just closed shop after few months because of lack of careful and systematic
planning. The entrepreneur should develop a logical, timely, step-by-step plan to reach the company
goals.

Examples

• Making and formulation plan of actions to follow for smooth operation.

• Anticipating expenses by creating a good cash flow projection.
• Evaluating alternatives.
• Taking a logical and systematic approach in executing activities.
• Having back-plans in place to solve unanticipated scenarios.

8 . S Y S T E M AT I C P L A N N I N G
Planning or Budgeting
 Business problems are inevitable. There will always be something that an entrepreneur can
do to minimize the impact of a problem to continue in operation. The challenge of thinking what to do in
tough times is in the hands of the entrepreneur. A song goes, “What Doesn’t Kill You Makes You
Stronger”, means every problem solved makes the entrepreneur more knowledgeable and prepared for
the next challenges. The point is, it is a requirement for an entrepreneur to know how to solve
problems if he wants the business to be in the market for long time.

•Examples

• Changing strategies in case of problems to reach organizational goals.

• Generating new ideas or innovative solutions.
• Looking at problems as an opportunity.

9 . P R O B L E M S O LV I N G
 Who would like to do business with a person who is not confident about his or
herself, or the products or services that he or she sells? It is safe to say that if you will
transact for a business, you will always want to look for someone who can carry a
conversation and will be able to sell his or her products effectively. To become a successful
entrepreneur, one must have a strong belief in self and own abilities.

Examples
Show confidence in one's ability to carry out tasks, particularly in difficult situations.
Persist with own judgment in the face of opposition or early lack of success.

10. SELF-CONFIDENCE
 •As stated, problems are inevitable and therefore the only way to avoid more problems is
to face and solve the existing ones. As an entrepreneur, you must have the courage in
looking for solutions, and find for resources, and even people who can help in those tough
times.
•
•Examples
• Communicate to others what they must do and not to.

• Reprimand those failing to perform and inform them of the possibilities for continuance
of the behavior.

11. ASSERTIVENESS
 Persuasion means influencing others reach company goals. Great entrepreneurs are
great salespeople. Finding resources is a tough task that requires guts in proving oneself
that a certain business will work and grow to get approval for loans.

Examples
• Convincing someone to buy a product or service.
• Convince a firm to provide financing.

12. PERSUASION
 Developing a great relationship with other businesspeople is a very important task of
an entrepreneur. Collaboration is one great way of expanding a business and great networker
as sure-fire of becoming a success in a business. As an entrepreneur, one must learn to work
with influential people to reach business.

1 3 . U S E O F I N F L U E N C E S T R AT E G I E S
CHARACTERISTICS
OF AN
ENTREPRENEUR:
 1. Ambition
A successful businessman is motivated to make
something out of himself. He knows what he
wants, and he is setting a course for achieving it.
Often his desire to do something can be daunting
and the drive to create himself can be very
consuming. The passion of an entrepreneur is
often the main ingredient which takes him off his
chair and brings him into practice, making his
daydreams a reality.
2. Enthusiasm
Also going hand in hand with determination,
passion plays a big part in inspiring the
entrepreneur. Although ambition is perhaps the
key to the ignition of the entrepreneur, excitement
is the gas. Every successful businessman has a
positive outlook which gives him the energy to
pursue his endeavours. An entrepreneurial project
will gradually wither away into inactivity and
failure without enthusiasm..

3. Creativity
You can rely on imagination to help you out when problems
occur. In the first place, creativity is probably what led you to
envision your company and it will be creativity that will help
you understand the potential solutions to any hitches that may
come your way. Successful entrepreneurs will find motivation
in the process, and also find ways to turn roadblocks into
opportunities.
4. Decision-making
Entrepreneurs call in all the actions needed. Although their
imagination makes them men of ideas, that will make them
men of action is their ability to make decisions. The decisions
taken by businessmen will decide the company's destiny,
because it is only by decision-making that things really will
happen. An entrepreneur with poor decision-making skills
will see his company placed in a state of inactivity and
degradation; good decision-making skills, on the other hand,
will ensure the best possible steps are applied in setting up
the firm.
 5. Perseverance
Maybe the most significant of all entrepreneurs'
characteristics is their ability to withstand the troubles that
come with starting a company. Starting a new company is
an incredibly challenging experience and as an
entrepreneur, if you want your venture to be a success,
you'll have to stick through the storms and pressures. It
often takes years for a good idea to start making money,
but when it does, you'll be pleased that you've stood up
against adversity.
 As an entrepreneur, you need to be work hard, be smart in making decisions, creative and think about improvement
of the business, be willing to take risks accompanied with plan of actions, and be good with people since they will
be the one aside from you who will do work for the business and for your clients.

To be successful in the career of entrepreneurship, one must have a heart to continue even if everything doesn't fall
into place or challenging situations happen, have a lot of motivation because you believe in what your company
and business vision and mission and have that drive to always be focused on your goals. There are also
downsides of entrepreneurship. As the owner of a starting business, you will be in-charge with
operations, finance and marketing your products. This means that you will not have regularly scheduled
day-offs, sometimes you will not have day-off on difficult situations. Managing cash flow is difficult most
especially to the ones that has limited funds.

One of the best things about being an entrepreneur is the wide-open possibilities. You get to talk with a lot of
people in your field, learn from their knowledge and experiences, and even create relationships with other
businesspeople.
E N T R E P R E N E U R S H I P
A S A C A R E E R

There are also downsides of entrepreneurship. As the owner of a starting business, you will be in-charge with
operations, finance and marketing your products. This means that you will not have regularly scheduled day-offs,
sometimes you will not have day-off on difficult situations. Managing cash flow is difficult most especially to the
ones that has limited funds.

The opportunities in entrepreneurship are ultimately endless. The rewards can be high as well are the risks. It
requires maturity from the owner in making hard decisions. But, if you are driven, creative, willing to learn and
have the desire to be your own boss, this may very well be the career for you.
 BEST SMALL
BUSINESS IDEAS
IN THE
PHILIPPINES?
THANK
YOU!
 ACTIVITY 1- 60 PTS.
• EXPLAIN THE FOLLOWING QUESTIONS .
1. How would you describe an Entrepreneurs?

• 2. Give the 5 names of entrepreneurs in the Philippines and their business.

• 2.1. Name of Entrepreneur
• 2.2. What makes an Entrepreneur Successful?
• 2.3. Who benefits from the business? Why?