DOMINICAN COLLEGE OF TARLAC

College Department

COLLEGE DEPARTMENT
A.Y. 2022-2023, SECOND SEMESTER

OBE FACULTY-DESIGNED MODULE

I. Subject: GEE 3 ENTREPRENEURIAL MIND

II. Learning Outcomes:

This course introduces the fundamentals of entrepreneurship that deals
with the role of entrepreneurship in economic development. Topics on
Filipino entrepreneurial economy, entrepreneurial motivation,
government assistance and programs for entrepreneurs, development
and growth theories and applications are included.
Relevant topics such as business concepts and models, social
responsibility, franchising, as well as e-commerce in the Philippine
setting shall also be discussed.

III. Topic/Lesson:
1. Entrepreneurship Overview
1.1 The Role of Entrepreneurship in Economic Growth
1.2 Entrepreneurial Qualities and Self-Assessment
1.3 How to Spot a Business Opportunity

IV. Days of Learning Sessions: 1.5 hours – online

1.5 hours – modular including assessment of students’ work

V. Expected Outcomes:

-Understanding of the entrepreneurial perspective.

-Understand the role of entrepreneurship in economic development

-Understanding of the entrepreneurial perspective.

-Understand the role of entrepreneurship in economic development
- Identify the fundamentals and responsibilities of entrepreneurship
primarily in the Philippine context with ASEAN and Global perspectives
-Exemplify one’s capabilities in relation to the rigors of successful
ventures
VI. Delivery

Lesson Starter:

To start with this module, let us first understand entrepreneurs and entrepreneurship.
Entrepreneurs are those with the skills and capabilities to see and evaluate business
opportunities. They are individuals who can strategically identify products or services
needed by the community, and have the capacity to deliver them at the right time and
at the right place.
Entrepreneurs are agents of economic change; they organize, manage, and assume the
risks of a business. Some of the good qualities of entrepreneurs are: being opportunity-
seeker, risk-taker, goal-setter, excellent planners confident problem-solver,
hardworking, persistent ,and committed.
 Entrepreneurship, on the other hand, is not just a simple business activity but a strategic
process of innovation and new product creation. Basically, entrepreneurship is both an
art and science of converting business ideas into marketable products or services to
improve the quality of living.
Now that you have background knowledge about entrepreneurs and entrepreneurship,
you can now walk through in assessing your PECs. Always remember that successful
entrepreneurs continuously develop and improve their PECs.

1. Motivation Phase
1.1. Pre-assessment Activity (Collaboration):
As part of your initial activity, try to assess your prior knowledge and experience
related to personal entrepreneurial competencies. Answer Task 1.
Task 1: Matching Type
Directions: Match the entrepreneurial competencies in column A with their meaning
in column B. Write the letter of the correct answer on the space provided before
each number.

A B
____1. Creative A. makes wise decisions toward the set
objectives
____2. Profit-oriented B. strategic thinking and setting of
goals
____3. Disciplined C. trusting in one’s ability
____4. Sound decision maker D. adaptable to change
____5. Possess people skills E. innovates to have an edge over
other competitors
____6. Excellent Planner F. solid dedication
____7. Confident G. skillful in record keeping
____8. Hardworking H. always sticks to the plan
____9. Ability to accept change I. work diligently
____10. Committed J. effective and efficient communication
skills and relates well to people
K. always looking for an opportunity to
have/earn income.

2. Presentation Phase:
The 3-A Approach

2.1. ANALYSIS (Communication):

Thinking like an entrepreneur can be valuable, even if you don’t decide to

become one. Because entrepreneurial thinkers are constantly learning, they use
that new knowledge to be creative problem solvers. This helps other people
around them, while also helping them meet their own goals.
By combining entrepreneurial thinking and a willingness to take action, an
entrepreneur does certain things to build a strong business:
• They recognize an opportunity by observing others closely and asking
questions about what could be different or better
• They create a product or service that someone will want
• They make sure that the product or service “creates value.” This means that
someone values the offering enough to pay for it, to pay to do it themselves, or to
otherwise pay to distribute it on your behalf for others’ benefit.
• They find the resources they need, even if they don’t have direct control over
them.
 For example, they may need to borrow money, use savings, or raise
investment; they might rent or borrow equipment instead of buying it; and they
might hire an expert consultant, or offer part-ownership in the new company
instead.

2.2. ABSTRACTION (Critical Thinking):

An entrepreneur is an individual who creates a new business, bearing most of
the risks and enjoying most of the rewards. The entrepreneur is commonly
seen as an innovator, a source of new ideas, goods, services, and
business/or procedures.
Having gone through pre-assessment, and answering the guide questions,
you will be asked to set your own personal goals and targets. These goals
and targets will urge you to further achieve the ultimate objective of this
module. In the end, these ultimate goals will motivate you to learn more about
PECs.

Goals and Targets Learning Activities Ultimate Goal

This time you’re going to study the different topics that will enrich your
knowledge of PECs. Read all the important details about the succeeding
topic carefully.

Assessment of Personal Entrepreneurial Competencies (PECs) and

Skills vis-à-vis a Practicing Entrepreneur in a Province
Entrepreneurial competencies refer to the important characteristics that
should be possessed by an individual in order to perform entrepreneurial
functions effectively. In this module, you will learn some of the most important
characteristics, attributes, lifestyle, skills and traits of a successful
entrepreneur or an employee to be successful in a chosen career.
Below are few important characteristics / traits / attributes of a good
entrepreneur:
* Hardworking: One of the important characteristics of a good entrepreneur
is hardworking. This means working diligently and being consistent about it.
Hardworking people keep improving their performance to produce good
products and/or provide good services.
*Confident: Entrepreneurs have self-reliance in one’s ability and judgment.
They exhibit self-confidence to cope with the risks of operating their own
business.
* Disciplined: Successful entrepreneurs always stick to the plan and fight the
temptation to do what is unimportant.
*Committed: Good entrepreneurs assume full responsibility over their
business. They give full commitment and solid dedication to make the
business successful.
* Ability to accept change: Nothing is permanent but change. Change
occurs frequently. When you own a business, you should cope with and
thrive on changes. Capitalize on positive changes to make your business
grow.
* Creative: An entrepreneur should be creative and innovative to stay in the
business and in order to have an edge over the other competitors.
Has the initiative: An entrepreneur takes the initiative. You must put yourself
in a position where you are responsible for the failure or success of your
business.
*Profit-oriented: An entrepreneur enters the world of business to generate
profit or additional income. The business shall become your bread and butter.
Therefore, you must see to it that the business can generate income.
Listed below are the important skills of a successful entrepreneur:
 * Excellent planner: Planning involves strategic thinking and goal setting to
achieve objectives by carefully maximizing all the available resources. A good
entrepreneur develops and follows the steps in the plans diligently to realize
goals. A good entrepreneur knows that planning is an effective skill only when
combined with action.
*Possesses people skills: This is a very important skill needed to be
successful in any kind of business. People skills refer to effective and efficient
communication and establishing good relationships to the people working in
and out of your business. In day-to-day business transactions, you need to
deal with people. A well-developed interpersonal skill can make a huge
difference between the success and failure of the business.
*Sound decision maker: Successful entrepreneurs have the ability to think
quickly and to make wise decisions towards a pre-determined set of
objectives. No one can deny that the ability to make wise decisions is an
important skill that an entrepreneur should possess. Sound decisions should
be based on given facts and information and lead towards the pre-determined
objectives.

To firm up what you have learned and have a better appreciation of the
different entrepreneurial competencies, read the PECs checklist below, then
answer the same

2.3. APPLICATION (Creativity):

Guide Questions

Directions: The following are guide questions which covers the entire
module. Write your answers on your assignment notebook. Discuss /
share these to the class.

A. Explain why entrepreneurial activities are important to social

development and economy progress.
 Entrepreneurial activities are important to social development
and economic progress because they provide jobs and
stimulate economic growth. They also help to create a more
competitive economy by attracting foreign investors and
improving the country's overall economic standing.

What entrepreneurial activities do you think you know and are capable of
doing?
 Entrepreneurial activities related to agriculture include tree
farming, poultry, and seed investments, which can help
farmers earn money and help them in return.

B. If you were given the opportunity to own a business what will it be, do
you think you will be confident to manage it? Explain your answer.
 If given the chance and opportunity, I would start my own
business in the food industry. Because the food business is
my dream business. I can cook and come up with ideas for
sales, but I'm not sure if I'll be successful. But if I continue to
work hard and be passionate about my work, I am confident
that I will be able to manage this business opportunity.

D. What do you think are the most important competencies one must
possess in order to be successful in running a chosen business?
  The most important competencies for running a business are
being able to forecast sales, analytical skills, active listening
skills, observational skills, and interpersonal skills. These skills
are essential for success in running a business.

3. Assessment Phase:
3.1. Work Activities

Directions: Using the PECs checklist, assess yourself by putting a check ( )

mark in either strengths or development areas column. Interpret the results
by counting the total number of check marks in each of the columns. After
accomplishing the checklist, form a group and share your insights on the
result of the personal assessment.

Table 1: PECs Checklist

Personal Entrepreneurial Competencies Personal Assessment in terms of:

(PECs) of an Entrepreneur

Strengths Development
Areas
Hardworking
- Works diligently
Confident
- Self-reliance in one’s ability
Disciplined
- Always stick to the plan
Committed
- Solid dedication
Ability to accept changes
- Adaptable
Creative
- Innovative to have edge over other
competitors
Profit-oriented
- Always looking for an opportunity to
have/earn income
Excellent planner
- Strategic thinking and setting of goals
Possess people skill
- Effective and efficient communication
skills and relates well to people
Sound decision maker
- Makes wise decisions towards the set
objectives
TOTAL
 3.2. Take Home Tasks

Read carefully each statement. Be honest in answering the questions. Check

Yes if it describes you and No if it does not.

YES NO Are YOU:

1. Competitive? Do you have the urge to be the first, the best, in class? In your
favorite sports?
2. Creative? Do you easily see a new way of using an old product, new solution to
an old problem?
3. Organized? Can you always find what you are looking? Are you always on time
during an appointment?
4. Decisive? Do you make quick and good decision as problem arises, most of the
time?
5. Dedicated/Committed? Are you willing to forego a party to finish your
assignment?
6. Diplomatic and tactful? Are you diplomatic when discussing issues with your
friends?
7. Emotionally stable? Are you easily stressed out when confronted with
deadlines? Other challenges?
8. Energetic? Do you feel sick most of the time?
9. Focused? Are you easily distracted by noise, or other activities when doing your
homework?
10. Hardworking? Are you prepared to work for long hours, 24/7?
11. A leader? Have you assumed a position lately in class organization? School
clubs?
12. A learner? Have you acquired new skill or develop new hobby over the last
twelve months?
13. Optimistic yet realistic? Do you respond positively to challenges?
14. Opportunity seeker? Do you have a knack for spotting opportunity?
15. Persistent? Are you easily daunted by failures and hard work?
16. Persuasive? Is it easy for you to influence people and get them to your side?
17. A people person? Do you enjoy mingling with people? Are you able to get
along well with others?
18. Planner? Goal setter? Do you often prepare a “to do” list?
19. Perceptive with foresight?
20. Research-oriented? Are you naturally inquisitive and do you seek information
to satisfy your curiosity?
21. Responsive to criticism? Do you look for new ways of doing things, discover
new approaches when confronted with criticisms?
 22. A risk taker? Are you able to take calculated risk or risk within reasons?
23. Self-confident? Are you confident with your own traits?
24. Self-starter? Do you take initiatives in starting a project?

1. Join clubs or organizations in your school and run for an office.

2. Read self-help books on leadership, self-confidence, and other personality enhancing
materials. Attend seminars.
3. Involve yourself with a sports. Join contests.
4. Recite more often in class, volunteer as emcee in school activities, keep a diary, write an essay
about your unusual experiences, and keep a paper and pen at all times.
5. Make a to-do list every day. Un-clutter your bag, closet, and bedroom.

ACTIVITY 1.2.1
Success Stories
To inspire young aspiring entrepreneurs, look into the success stories of Filipino
entrepreneurs like Tony Tan Caktiong, President and CEO of Jollibee Foods Corporation,
Socorro “Nany Coring” Cancio-Ramos, founder of National Book Store; Cebu Air, Inc.
President and CEO Lance Gokongwei or any entrepreneur that you know. Share their stories
briefly in class.

Questions
1. Did you identify the ten PECs among those entrepreneurs? Which characteristics were
outstanding in them?
Ans: Creativity, professionalism, risk-taking, passion, planning, knowledge, social skills, open
mindedness to learning and people, and even failure are the ten characteristics of a successful
entrepreneur. I believe "Risk-taking" is outstanding for all of them because it entails many
things, such as using unconventional methods, investing in ideas that no one else believes in, and
having a backup for every risk. Good entrepreneurs take a differentiated approach to risks, and
assessing the risk to be taken is critical.
2. What characteristic was crucial in the success of their businesses?
I think, Passion is the most important trait of a successful entrepreneur, as they genuinely love
what they do and are willing to put in the extra hours to make their business grow. This gives
them a sense of satisfaction beyond making money.
Self-Check
1. Where did you get your additional information? Are the information readily available? Why?
Why not?

2. What are the ten important characteristics of an entrepreneur?

3. How will you improve your own personal traits in order to acquire the attributes of an
entrepreneur?

Self Reflection
1. What did you learn from this lesson? Does it help you? Why or why not?

1. Make a research about the top 10 famous Filipino Entrepreneurs in the country and mention
their success stories.
SM Henry Sy, the man who built the SM empire from the ground up, is living proof that success
can only be achieved through perseverance. He started out buying and selling items such as
shoes during the post-World War II era, and, despite encountering difficulties finding shoe
manufacturers, he persisted in pursuing his vision. His legacy can be seen and experienced
through his company’s large-scale shopping malls all over the country, including the recently
built SM Aura in Taguig.

JOLLIBEE Tony came from humble beginnings before he rose to the top. Tony’s father was a
cook at a Buddhist temple in Manila who later opened his own Chinese restaurant through hard
work. In 1975, Tony himself ventured into the food business and started selling fries and fried
chicken at affordable prices. His fast food outlets quickly became the country’s largest local fast
food chain, Jollibee. And after the brand’s success, Tony built other restaurant chains such as
Greenwich Pizza, Chowking, Red Ribbon, and DeliFrance.

GREENWICH PIZZA In 1971, Cresida Tueres started Greenwich as a small over-the-counter

pizza store in Greenhills. Tueres had a knack for cooking. Her friends loved the food she served
so much that they decided to buy their own Greenwich franchise. Impressed with Tueres’s
business acumen and the growth of Greenwich, Jollibee Foods Corporation obtained a deal in
1994 to acquire 80% of Greenwich’s shareholding. Since then, the pizza parlor branched out to
include other dishes in its menu. In 1997, Greenwich had a record sale of P1 billion.
GOLDILOCKS With only two cake displays and ten employees, Milagros, Clarita, and Doris
Leelin started Goldilocks at a 70-sq-m building space in Makati. Sisters Milagros and Clarita
loved baking and decided to pursue their passion into business. With the help of their sister-in-
law Doris, the Leelins opened their first branch. In 1991, Goldilocks launched its franchising
program. As of 2015, the bakeshop chain had almost 400 stores across the country, with other
branches in the USA, Canada, and Southeast Asia. From a modest capital of P66,000,
Goldilocks is now a multi-million food enterprise with more than 4,000 employees.
LAMOIYAN CORPORATION Cecilio K. Pedro was able to reach the pinnacle of success
despite tough odds. After earning his business management degree at Ateneo de Manila
University, he ventured into an aluminum business. He then decided to compete with toothpaste
multinationals by introducing locally produced toothpastes that cost only a fraction of the leading
brand's price. He also introduced fruity flavored toothpastes for children, and today his Hapee
and Kutitap toothpaste brands have reached other Southeast Asian countries.

ZEST-O Alfredo Yao is a self-made businessman who started the Zest-O Corporation through
sheer determination. He was the family's breadwinner at age 12 and was unable to finish his
degree at Mapua Institute of Technology due to financial difficulties. He was already in the
printing press business when he hit on the idea of doypack pouches for packaging beverages.
He initially pitched the idea to beverage manufacturers in the Philippines, but none of them were
interested. He ventured into the juice manufacturing business himself in 1980 and the rest is
history, and many Filipino families have been enjoying the juice brand for years.
POTATO CORNER The young Magsaysay left school to bust tables, wash plates, and work on
the cash register at a fast food chain. In a few years, he became a manager, handling five
stores.  With his background and skills in store management, Magsaysay’s friends asked him to
handle Potato Corner, of which he was a co-founder. They pooled their money together and
started the food cart business in 1992, offering franchises left and right. Today, Potato Corner
has more than 550 stalls in the Philippines and around the world.
NATIONAL BOOKSTORE The woman behind the largest chain of bookstores in the Philippines
chipped in to augment the family income as a child. As fate would have it, she later married the
heir to a family business despite her family’s objections, and she became very involved in
running it.The business experienced some setbacks during the Japanese occupation in the
Philippines, since books were considered propaganda back then. But this did not make  Ramos
give up. The business grew into what is now known as the country’s largest, most popular
source of fiction and non-fiction books, textbooks, and school and office supplies.
GLOBE TELECOM Ernest Cu is one of the founding fathers of BPO in the Philippines. He
started as an entrepreneur with a dream to provide services to many clients at the same time
and grew a simple data entry service company into one of the country's largest outsourcing
providers. He then moved to lead Globe Telecom as its president and CEO and transformed it
into a stronger, more dynamic company with a customer-centered culture. He modernized
Globe's network and IT infrastructure to better provide customers' needs.
JG SUMMIT HOLDINGS INC John Summit, the founder of JG Summit Holdings, was born in
China and moved to Cebu when his father died. At the age of 13, he dropped out of school to
help his family and sold everything from roasted peanuts, soap, and candles to make ends
meet. Despite all the challenges he faced, he never gave up and built up a trading company.
When banks turned him down when he applied for a loan to establish a cornstarch-
manufacturing business, he kept on looking for funding until he found it. His company, Universal
Corn Products, was the foundation of the huge conglomerate that JG Summit is today.

Example: Socorro “Nany Coring” Cancio-Ramos, founder of National Book Store ( Story behind
the success of National Bookstore)