module 1 entrepreneurship module senior h

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ENTREPRENEURSHIP
QUARTER 1 – MODULE 1
INTRODUCTION TO
ENTREPRENEURSHIP

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ENTREPREURSHIP
• Is an art of observing
correct practices in
managing and
operating a self-
owned wealth
creating business
enterprise by
providing goods and
services that are
valuable to the
customers.

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commit oneself
to and begin (an
enterprise or
responsibility);
take on.
promise to do a
particular thing.
guarantee
or affirm
something; give
as a
formal pledge.

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Activities
Activity 1: TRUE or FALSE
Direction: Write TRUE if the statement is correct. Write FALSE if the statement is
incorrect.
1. Someone who start from scratch considered as an entrepreneur.
2. The term entrepreneurship derived from the word entrepreneur.
3. Having a degree in entrepreneurship will assure an individual becoming a successful
entrepreneur.
4. Someone starts selling pre-loved clothes online during the Quarantine brought by the
Pandemic considered as an entrepreneur.
5. Someone who starts business with new products to offer and no plan to hire
employees
considered entrepreneur.
6. Entrepreneur and ordinary businessperson are the same.
7. All businesspersons are entrepreneurs.
8. Entrepreneurship perceived as innovation and creation of new products and services.
9. Entrepreneurship involve profit making only.
10. An ordinary person like you can be an entrepreneur.
Quiz # 1

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Answer Key
1. TRUE 6. FALSE
2. TRUE 7. FALSE
3. FALSE 8. TRUE
4. FALSE 9. FALSE
5. TRUE 10. TRUE

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Activity 3: Let’s Perform: “My Dream Entrepreneur-Like”
Instructions:
1. Watch at Youtube channel the top 10 young Filipino entrepreneurs. Choose one that gave an
impression to you.
2. Make a Poster of your Dream Entrepreneur-Like. Print/draw or cut a picture of your chosen well-
known entrepreneur and paste in a half of one long bond paper. Show your creativity.
3. Write his name and a short historical background.
4. Cite the contribution he/she gives impact that change the whole world.
5. Write what characteristics, attributes, and personalities that inspires you and wanting to be like
him/her as an entrepreneur.
6. You may also create your poster through Photoshop, Canva or Medibang Apps.

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Five Salient Features of Entrepreneurship
1. ART OF CORRECT PRACTICES
2. WEALTH CREATING VENTURE
3. PROVIDING VALUES TO
CUSTOMERS
4. OPENING AND MANAGING
SELF-OWNED BUSINESS
5. RISK TAKING VENTURE

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Five Salient Features of
Entrepreneurship
• Entrepreneurship is an art not a science thus,
there is a constant change; it continuously
grows, develops, improves and expands. As an
art, it is closely related to creativity that
contributes to the enhancement of the
enterprise. Entrepreneurship education teaches
how failure makes people more creative and
innovative.
1. ART OF CORRECT PRACTICES

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Entrepreneurship
• Although profit is a good
indicator of wealth, improving
the life of an entrepreneur in
terms of economic, financial,
social, moral and psychological
aspects are also priceless
outcome of entrepreneurship.
2. WEALTH CREATING VENTURE
Conscious canvas ph
creates lovely and well
crafted tote bags that
are ideal for everyday
use made by persons
with disabilities
(PWD’s). What is
commendable with this
business venture is that
10% of its profits goes
to para-athletes,. More
than the profit it brings
about, loyalty if its
workers and admiration
from other people in the
community is the real
return of investment of
this venture.

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Entrepreneurship
• Products and services are
considered valuable when they
satisfy the needs and wants of
the customers. It also gives the
buyers reason to purchase your
product over and over again and
even refer it to others.
3. PROVIDING VALUES TO
CUSTOMERS

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Entrepreneurship
• Businesses which are managed by other
people for the benefit of the owner falls
under INTRAPRENEURSHIP.
Entrepreneurship is different from
intrapreneurship. The concept of
entrepreneurial endeavor may range from
a small sari-sari store up to multimillion
companies as long as the business is
managed by the owner himself.
4. OPENING AND MANAGING
SELF-OWNED BUSINESS
A cakeshop
manager who works
for the store owner
and receives a
monthly salary
cannot be
considered as an
entrepreneur despite
that she is handling
a business. All
profits go to he
owner (who just wait
for the remittance of
the sales) himself
and the manager is
merely an
employee.

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Entrepreneurship
• Risk is a part of any
entrepreneurial endeavor. A
good entrepreneur does not
avoid risks, rather face them by
analyzing the risks and good
decision-making skills for the
survival of the venture.
5. RISK TAKING VENTURE
The pandemic
caused many
business
establishments to
cease operations
and this had a huge
impact on the sales
of business
ventures. Some
entrepreneurs resort
to online selling of
their products as to
not fully stope their
ventures and have
alternative way of
gaining profit during
this situation.

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What does
entrepreneurship
do for Filipinos,
Community and for
Economy?

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To
the
Filipinos:
•It gives guidelines in the
entrepreneur’s wealth creating
undertakings.
•It aids in improving financial and
social life.
•It helps expand their creativity.
•It brings about happiness,
productiveness and success in
entrepreneur’s life.

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To
the
local
community:
•It offers opportunity for employment
in the community.
•It produces new demand in the
market.
•It contributes to increase in tax
collection.
•It accelerates the movement of
different factors of production.
•It gives birth to new business
opportunities.

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To
the
Philippine
economy:
•It promotes competitiveness, thus
challenging entrepreneurs to continue
improving their products and services.
•It aids an identifying an entrepreneurial
niche in the international market.
•It helps speed up economic recovery
process if the country during financial
breakdown.
•It facilitates ease money flow in the local
market.
•It supports the Philippine government in
its yearning to have advantageous
economic ratings in the international
market.

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Mr. Juan Dela Cruz, a resident of Bagac, Bataan saw opportunity to sell cashew products due to the
great amount of cashew produced in their municipality. He started to sell homemade products online and
when the business grew, he decided to put up a physical store for his products.
He applied for a barangay business certificate and Mayor’s Permit and registered his business name to
DTI. He also processed, paid, and complied with all the documentary requirements and fees in opening
a business with BIR.
Since the business grew, he bought equipment and materials to make the production more efficient
from a local supplier. He also hired two workers from their barangay to have his store fixed to be ready
for operations. He also closed a deal with local cashew farmers in their municipality for the raw
materials for his products. He also hired employees for his business: two for the production of the
products and one saleslady who will take care of the sales in his store.
At the end of the year, he had earned a good profit enough for him to purchase a house and lot, but he
did not forget to pay the annual income tax to BIR.
Story of Mr. Juan Dela Cruz

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After reading and analyzing the story
of Mr. Juan Dela Cruz, make your
own study regarding the story.

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After reading and analyzing the story of Mr. Juan dela
Cruz, make your own study regarding the story.
• Mr. Juan dela Cruz, as the
entrepreneur was enriched with
properties (house and lot) because of
his business venture.
• The local cashew farmers along side
the employees had a living for
supplying raw materials and working
with Mr. Dela Cruz respectively. The
local equipment supplier and the
workers hired for fixing the store also
had income.
• The local government collected local
taxes from Mr. dela Cruz while the
national government, through BIR,
collected an annual income tax. The
taxes accumulated by both local and
national government will be utilized
for public services such as
healthcare, education, security, road
constructions and the like.

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PERSONAL ENTREPRENEURIAL
COMPENTENCIES (PEC’s)
•refer to the important
characteristics that should
be possessed by an
individual in order to
perform entrepreneurial
functions effectively.

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• Being a hard worker means habitually
working diligently for long period of hours.
1. HARDWORKING
Let us take Henry Sy as an example. He came from a poor
family in China who came to the Philippines to try their luck
here. They built a store but was burnt down during WWII. He
saw an opportunity to earn from selling used combat shoes
and goods from American soldiers. He even worked for 12
hours a day at the age of 12 just to earn for their family. But all
hard work paid off as we’ve seen on the success of SM Malls
today making their family the wealthiest in the country.

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• It is also important that as an entrepreneur,
one must believe oneself more than
anybody else.
2. SELF CONFIDENT
A farmer's son, Diosdado Banatao, grew up in a rural area in Cagayan Valley. In their place,
students usually stop studying after 6th grade but his father pushed him to continue despite
the fact that he needed to be away from his family. He graduated at Stanford University where
at first he felt inferior with his classmates, thus making him study twice as hard as the others.
He saw an opportunity to develop microchips and started to build a company but failed. “No
one told me I could do it; I have to tell myself that I could”, he said. So, he tried again and this
time, he succeeded. He invented the first 16-bit chip, the ones that we can find in most
computers today. At present, more compact and higher capacity processing chips are
available but if not for his invention, the world we know today might be quite different.

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• The urge to fight temptation is very important. They said it is easy
to spend money you did not worked hard for. Sometimes, when we start to earn, we are
tempted to buy things that are not really needed. A good entrepreneur does not ask himself
the question, “What will I buy with my money?” but ask, “Where will I invest my money to
earn more money?” instead.
3. DISCIPLINED
Founder of Mang Inasal (Mr. Barbeque in Ilonggo), Edgar Sia
started at a parking lot in Iloilo City. His food business was a blast
and caught the attention of Tony Tan Caktiong of Jollibee Food
Corporation. Caktiong bought a portion of Mang Inasal for a total of
five billion pesos. Sia, instead of living a one-day billionaire life,
decided to invest his money to banking and healthcare thus,
making him the youngest Filipino billionaire at the age of 34.

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•Commitment is characterized by solid
dedication.
4. COMMITTED
Socorro Ramos, the founder of National Bookstore literally showed
commitment by overcoming her relationship challenges to start
with. Business wise, her solid dedication can be seen on how she
stood still despite the challenges their bookstore faced, from
typhoon to fire. Otherwise, we will not be seeing this book and
school supplies store today.

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• This is synonymous to being openminded or readiness to try different
things or to hear and consider fresh ideas. We often hear this among
networking businesses: “Openminded kaba?”. As said many times,
“Change is the only constant in this world” so they say that “forever
does not exist”. In business world, capitalizing on positive changes will
help a business survive and even prosper.
5. ABILITY TO ACCEPT
CHANGE
Let us learn from the founder of our all-time kids-at-heart favorite,
“Kung saan, beeda and saya”, Jollibee! Tony Tan Caktiong, started
an ice cream store in 1975. His store was not generating enough
income. So, he talked to the people and decided to add some to his
menu offering based on their suggestions. And those are the
burgers and fries (too many to mention), that we love today.

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• This is what will make you stand out and go over your
competitors. As an entrepreneur, we must look beyond and
check what is new, to stay in the business to have an edge
over the other competitors.
6. CREATIVE
Toothpaste used to be on aluminum tubes. Cecilio Kwok Pedro was the former head of
Aluminum Container Inc., which manufactured aluminum toothpaste containers for Procter and
Gamble, Uniliver (used to be Philippine Refining Company, and Colgate-Palmolive. Eventually,
due to environmental issues, his clients decided to shift to plastic-laminated containers causing
his company to fail and close in 1986. He built Lamoiyan Corporation and produced similar
product with half-price than that of his competitors. To target the young market, he featured
Sesame Street’s characters on the packaging of his children’s toothpaste alongside with
Filipino-touched Hapee and Kutitap.

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• This is to put oneself in a position where one is
personally is responsible for the failure or success of
the business.
7. HAS INITIATIVE
Seeing what is needed, Corazon D. Ong who is a dietician by
profession, started preparing “healthier” options for those who
cannot avoid having canned or frozen goods for food. CDO corned
beef, CDO Ulam Burger and others are some of the many offerings
of the CDO Foodsphere. Wondering why it is named CDO? Of
course, from its founder’s name! Now what will you name your
product?

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• A good entrepreneur must make sure that the business will
generate income. We do not put up a business just to get
tired the whole day without getting anything in return.
8. PROFIT-ORIENTED
Somehow different from other success stories, John Gokongwei is a “rich- to-rags-to-riches”
He was born from a rich family but when his father died, so did their business. He worked for
his family by peddling products in the streets. Eventually, he learned trading by boat from
Lucena to Manila by truck. After some time, he realized that importing brought about high risk
and low profitability. Thus, he borrowed Php 500,000 from China Bank in 1957 and began a
corn milling industry named Universal Corn Products, the one known today as Universal
Robina Corporation. He even extended his company into diversified businesses as to expand
his net including Robina Land Corporation and Cebu Pacific.

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Important Skills of an
Entrepreneur
1.Planning
2.Decision making
3.People skills

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•This is strategic
thinking and setting of
goals to achieve
objectives by carefully
maximizing all the
available resources.
1. Planning
Gregorio Sanchez who
was a provincial boar
member in Cebu observed
that the pigs sold in the
market are malnourished.
He wanted to improve the
quality of the livestock, so
he decided to identify the
cause by conducting
experiments using only
pans and pots he has at
home. After several
failures, he finally found
out that bad bacteria
caused the problem. This
led to the development of
LactoPAFI probiotic
bacteria that soon was
known not only in their
province but also
nationwide and even
worldwide.

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• One decision may make or
break a business, thus
making this a crucial one. It
is the ability to think quickly
and make a wise judgment
towards the pre-determined
set objectives.
2. Decision
Making
Manuel “Manny”
Villar for instance
will not have the
Vista Malls and
Camella Homes we
have today if he did
not make wise
judgments on his
endeavors as a
businessman. He
applied for bank
loans and made the
right decisions on
where and when to
invest, making him
one of the
wealthiest Filipinos
today.

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• Doing business is not a one-man team endeavor. From
people working for you and with you, to those you make
deal with and even your competitors. In relation to the
story we’ve read, it is good to be individually brilliant but
still, there are things that others can do better than you.
• Many successful entrepreneurs know how to show
their gratefulness for the blessings they have received
by being blessings to others. Diosdado Banatao and
PhilDev offer scholarships to poor yet deserving
students so that they do not have to stop studying; Tony
Tan Caktiong and Busog Lusog Talino which focused on
meeting the nutritional needs of public-school students;
and many others.
3.People Skills
Cecilio Kwok Pedro is
not different to these
entrepreneurs, because
he decided to choose
hearing impaired to
work for his company.
This gave the deaf-
mutes an opportunity to
earn, and in return
Cecilio gained their
utmost respect and
gratitude. This inspired
his workers to do their
best and at the same
time, inspired not only
fellow Filipinos but other
nationalities as well.

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Entrepreneurial aspirations
typically pursue one of
these career paths:
1.New Venture Creation
2.Careers in Existing
Entrepreneurial Ventures

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Job opportunities need people like you and
may be good leadership training grounds if
ever you decide to go on your own:
1. Mid-level management
2. Business consultant
3. Sales
4. Research and development
5. Not-for-profit fundraiser
6. Teacher
7. Recruiter
8. Business reporter

module 1 entrepreneurship module senior h

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module 1 entrepreneurship module senior h