Entrepreneurship Module No. 1: Week 1: 1st Quarter Topic: Entrepreneurship World

ENTREPRENEURSHIP
MODULE
Module No. 1 : Week 1: 1st Quarter
TOPIC: ENTREPRENEURSHIP WORLD
INTRODUCTION
Do you often heared the word entrepreneurship? Are you wondering

what is it all about? Are you curious how it works? This module will help
you to open your mind to the exciting world of entrepreneurship.
LEARNING COMPETENCIES:
• Discuss the relevance of

entrepreneurship
OBJECTIVE/S:
• To define entrepreneurship
1
• To understand entrepreneurship as a business
GADGET BOOKS
(TABLET)
PENCIL FOLDER
LET’S RECALL POUCH ORGANIZER
Think and name at least four (4) of your favorite items that is
always with you or inside your bag. . Write your answer on the box es
below.
I am sure items you

write inside the
.
boxes are very
much important to
your day to day
living .
 To appreciate the process of business.
LET’S UNDERSTAND
Are you a type of person who always coming up with new ideas? or
thinking how to innovate or reinvent something? Are you wondering
how this ideas can put into reality? Now its time for you to know that
your weirdest idea as your friends or relatives told you can be a key
for a great opportunity because of entrepreneurship.
What is Entrepreneurship?
2
Entrepreneurship is the activity of setting up a business or
businesses, taking on financial risk in the hope of profit.
(https://www.lexico.com/definition/entrepreneurship) The person who creates the
business or businesses and embraces every challenge for its development
and operation is known as an entrepreneur.
(https://businessjargons.com/entrepreneurship.html) It is clearly states that
entrepreneruship is about business. Now let’s learn why entrepreneruship
describes by many as a business.
Entrepreneruship as a Business
According to Professor Feliciano R. Fajardo (1997). Business means
various concepts to different individuals. To some, it means selling of goods
and services. To others, it refers to the production of goods and services.
Professor Lawrence Gitman of Wright State University defines business as a
social process which involves the assembly and utilization of resources to
produce goods and services in order to satisfy the needs of society. To
ellaborate what Professor Lawrence Gitman and Professor Feliciano R.
Fajardo says every society comprises of different individuals with different
needs and wants. Business serves as the vehicle to provide the goods or
services that will satisfy needs and wants or full fill people satisfaction.
Now let’s define what is goods and services.
Goods and Services Defined

As the business continue to full fill societies satisfaction. Some
business focus on goods or services alone the others offer both. Goods are
things we can touch examples bread, soap, shampoo, pencil and bag
while Services are things that we cannot touch but still we consume
examples haricut, manicure, pedicure, massage and transporation. Both
can be use for personal or industrial purposes.
As an entrepreneur your mission is to fulfill societies satisfaction.

But how can you able to do that? First you have to determine their needs
and wants.What is needs and wants? What is their connection to societies
satisfaction? Are they different from each other?
3
Let’s find out
Need Vs Want
Socities consumption of goods and services depends widely on how
individual or families determine their needs and wants. Needs are those
things we need inorder for us to live or survive or things we cannot live
without while Wants is anything that indicates luxury or anything not
necessary for survival in other words things we can live without . Some
prioritize needs more than wants or viceversa it depends on the level of
satisfaction or full fillment of individual. Now that you know the difference
between the two. Try to determine your own personal needs and wants?
What do you think is your priority?
RememberKey Points to Remember
In business as an entrepreneur it is important that you know how to

identify the societies needs and wants. Because from their you can draw
out your ideas and determine what kind of business, goods or serives that
you can offer to fulfill their satisfaction and by knowing that it will benefit
you as well as an entrepreneur for your business development and
innovation.
Business Process Relevance Explained
Do you believe that as soon as you wake up in the morning and do

your daily rountine involves business? Imagine the life without the
existence of goods like toothpaste, soap, shampoo, toothbrush, coffee and
services like pandesal or newspaper delivery. People lives will be more
stressful, complicated and can cause a lot of dissatisfaction. But with the
help of Entrepreneurs who tirelesly keep on searching the society needs
and wants.They make use their talent and skills together with their
business resources to produce or create goods and services just to provide
and make things available for the people.Business also innovate or
reinvent exisitng goods and services so, that people can adopt to changes
4
and improve their way of living. Business offers everything whether for
survival or leisures it plays a major role in the lives of the people.
Conclusion
1. Entrepreneurship is about business.

2. Business is not only about selling, production of goods and services
but also fulfilling societies satisfaction.
3. Business can offer both good and service.
4. Needs and wants are different form each other.
5. Business originates from your idea.
6. Business idea can draw out form people needs and wants.
7. Business is part of our daily routine.
8. Business plays an important role to the improvement of way of living
of the people.
Let’s Try t h es e Activities
LET’S APPLY
After describing needs and wants, let us now find out your
ownneeds and wants. Write your answer on the chart below.
NEEDS WANTS
Water computer
Food Ps5
wifi
Electricity
Video games
Shelter
Cellphone
Clothes
LET’S ANALYZE
Using your own entrepreneurial thinking skills. Write down the

5
things you can do in every situation provided.
Situation Things you can do
1. People cannot go out to Build your own sari-sari store in front of
purchase goods due to your house.
COVID 19
2. Lack of Water in your I will Order a tank of water from other
Village or Barangay source that has water, then, I will sell it to
my neighbourhoods.
3. Classmates who wants to Offer him/her payment for teaching
learn Adobe Photoshop. him/her to learn it.
4. You have a great skills in Open a cafeteria dining business.
cooking.
5. Your father taught you how I will Build an electronic repair shop
to repair electronic
gadgets.
6. You have great talent in I will build a dance club and offer dance
dancing. lessons
LET’S CREATE
After learning entrepreneurship as a business, let us

now know your business idea. Draw or illustrate on the box below the
goods or services that you want to provide or to offer. This will serve as your
entry for the business exhibit.
Rubrics: Your output will be graded by the following criteria
6
Creativity and Originality 40%
Content and Significance 30%
Appearance 20%
(appeal, materials)
Timeliness 10%
Total: 100%
7
LET’S EVALUATE
Instructions: MULTIPLE CHOICE: Choose the letter of the best answer. Write
the letter of your answer on a separate sheet of paper.
1. Which of the following terms best defines the word “wants”.

a. Basics c. Necessity
b. Luxury d. Supply
2. Select the things that is not part of the basic necessities.
a. Food c. Shelter
b. Vacation d. Medicine
3. Select among the following as the best example of goods.
a. Haircut c. Massage
b. Nail polish d. Computer repair
4. Which of the following terms best describes entrepreneur
a. Owner c. Employee
b. Applicant d. Assistant
5. Select among the following as the best example of services.
a. Massage c. Laptop
b. Ball pen d. Ring
6. Which of the following terms best defines entrepreneurship.
a. Production c. Selling
b. Transactions d. Business
7. Which of the following terms describes “new ideas”.
a. Perspective c. Strategies
b. Innovation d. Promotion
8. There are several qualities of an entrepreneur should possess, except
one.
a. Opportunity seeker c. Risk Taker
b. Demanding d. Persistent
9. Which of the following is the mission of entrepreneurs.
a. to sell goods and services c. to fulfill society’s satisfaction
b. to produce goods and services d. to gain profit
10.Select among the following best describe as the vehicle to provide
goods and services.
a. Business c. Production
b. Selling d. Wants
8
Hope you learned
something new
today see you on
the next module.

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What is the definition of entrepreneurship?

What is the definition of entrepreneurship?

What are the differences between needs and wants?

What are the differences between needs and wants?

ENTREPRENEURSHIP

TOPIC: ENTREPRENEURSHIP WORLD

Do you often heared the word entrepreneurship? Are you wondering

• Discuss the relevance of

I am sure items you

 To appreciate the process of business.

Goods and Services Defined

As an entrepreneur your mission is to fulfill societies satisfaction.

RememberKey Points to Remember

In business as an entrepreneur it is important that you know how to

Business Process Relevance Explained

Do you believe that as soon as you wake up in the morning and do

1. Entrepreneurship is about business.

Let’s Try t h es e Activities

Using your own entrepreneurial thinking skills. Write down the

After learning entrepreneurship as a business, let us

1. Which of the following terms best defines the word “wants”.

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