SHS

Entrepreneurship
Module 1: Quarter 1 – Week 1
Entrepreneurship
Grade 12 Module 1: Quarter 1 - Week 1
First Edition, 2020

Copyright © 2020
La Union Schools Division
Region I

All rights reserved. No part of this module may be reproduced in any form without
written permission from the copyright owners.

Development Team of the Module

Author: Hayde B. Casision, T-I

Editor: SDO La Union, Learning Resource Quality Assurance Team

Illustrator: Ernesto F. Ramos Jr., P II

Management Team:

ATTY. Donato D. Balderas, Jr. Schools

Division Superintendent

Vivian Luz S. Pagatpatan, Ph.D

Assistant Schools Division Superintendent

German E. Flora, Ph.D, CID Chief

Virgilio C. Boado, Ph.D, EPS in Charge of LRMS

Mario B. Paneda, Ed.D, EPS in Charge of Araling Panlipunan

 Michael Jason D. Morales, PDO II
Claire P. Toluyen, Librarian II

Entrepreneurship
Module 1: Quarter 1 - Week 1
 Target

Entrepreneurship has an enormous impact on the economy and in the

society. Globally, the level of entrepreneurial activity has contributed significantly
to the national level of economic growth of many countries. It was Joseph
Schumpeter, an Australian economist, who first articulated the importance of
entrepreneurship to the economy and the society in 1934. This increases the
entrepreneurial activities has also initiated changes in the structure of business
and society. Without entrepreneurship, even a very rich region will be stagnant,
even a very fertile region, where there is an abundant production of agricultural
crops, and great surpluses will remain stagnant without entrepreneurship. Who,
for example, will undertake processing of the surplus agricultural crops without
entrepreneurs?

The lesson deals with the definition of entrepreneurs and entrepreneurship and
discusses the relevance of entrepreneurship in the economic development and
society.

After going through this module, you are expected to:

1. Define entrepreneurs and entrepreneurship; and

2. Discuss the relevance of this course (CS_EP11/12ENTREP-0a-1)

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 Jumpstart

For you to understand the lesson well, do the activity.

Have fun and good luck!

For you to better understand the lesson, do the activities that follow in a separate
sheet of paper. (1/2 cross wise)

Activity 1: Read me Understand me!

Direction: Read and understand the definition of entrepreneurs and

entrepreneurship and the important characteristic of entrepreneurs then answer
the questions that follow. Write your answers in a separate sheet of paper.

Entrepreneurship is the activity of setting up a business or businesses,

taking on financial risks in the hope of profit. It is what people do to take their
career and dreams into their hands and lead it in the direction of their own choice.
While entrepreneur is a person who sets up a business with the aim to make a
profit and create a fulltime, sustainable business with employees. If your
entrepreneurial mindset is focused on creating a profitable business, you fit the
entrepreneur definition. However, the entrepreneur meaning involves much more
than being a business or job creator. They’re the leaders that strikes out in their
own to improve society. Whether they’re creating jobs or new product, they
constantly take action to ensure the worlds progress.

Below are few important characteristics of a good entrepreneur:

Hardworking: one of the important characteristics of a good entrepreneur is

hardworking. This means habitually working diligently for a long period of time.
Hardworking people keep on improving their performance to produce good products
and/or provide good services.

Self-confident: Entrepreneurs have confidence in one ability and own judgement.

They exhibit self-confidence in order to cope with all the risk of operating their own
business.

Disciplined: Successful entrepreneurs always stick to the plan and fight the
temptation to do what is an important.

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Committed: A good entrepreneur accepts full responsibility of everything of his or
her business. He/she gives full commitment and solid dedication to make the
business successful.

Able to accept change: Nothing is permanent but change. Change occurs

frequently. When you own a business, you should face your challenges and cope
with 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 into the world of business to generate

profit or additional income. This shall become the bread and butter for you and for
your family as well. Therefore, you must see to it that the business can generate
income.

Q1. What is entrepreneurship really about?

Q2. Does entrepreneurs are the ones creating a jobs? Why?
Q3. What makes a person a good entrepreneur?

Activity 2: Complete me and Describe me!

Direction: Complete the acronym ENTREPRENEURSHIP using an adjective. Write

your answer in a separate sheet of paper.

E
N
T
R
E
P
R
E
N
E
U
R
S
H
I

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 P
Discover

Entrepreneurship is a mantra in the age of globalized economy. It is the

groundwork and spur of economic growth and revolution across nations.
Entrepreneurial activities prosper in societies with the support of the government
and which give much importance to innovativeness and turn new ideas into a
breakthrough solution.

In global setting, small and medium enterprises (SMEs) are concrete

manifestation of entrepreneurship. Just like in the Philippines, our economy is
composed of small and medium enterprises (SMEs) which is a clear indication of
how entrepreneurship evolve in our country.

Entrepreneurship, as defined by Cole (1959), a purposeful activity to initiate

and develop a profit-oriented business. According to Kurato (2009),
entrepreneurship is a dynamic process of vision, change, and creation that requires
an application of energy and passion towards the creation and implementation of
new ideas and creative solutions. To the present, the meaning of entrepreneurship
involves an entrepreneur who takes action to make a change in the world.

It is remarkable to note that over the years, the meaning of entrepreneurship

has had a lot of variations and dissimilarities. Although each definitions views
entrepreneurship from insignificant different point of view, they all contain the
following common elements: Innovation, opportunity seeking and exploitation,
resource mobilizing, encountering risk and uncertainties, and economic and
personal rewards.

Entrepreneurship plays a vital and influential role in economic growth and

standard living of the country. As business owner, you may think that you are
simply thinking of building your own business, to provide for yourself and family.
But actually you are doing a whole lot more for your community, locality, province,
and country as a whole. Here is the list of relevance of entrepreneurship and
entrepreneur in economic development of a country.

1. Creates employment. When entrepreneurs put up their businesses, they

employ people who possess different competencies and personal values to
help them operate the enterprise.

2. Develops new market. Entrepreneurs are opportunity-seekers, creative,

and resourceful. They seek for new buyers or customers of their own
products or services. They go beyond the existing place where their products
are sold and look for other people who will be interested.

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3. Introduces innovation. Entrepreneurs innovate. Innovation can be
something ordinary or technological or break through. This innovation is
done for the product, services or technology towards commercialization and
generates economic wealth. Due to innovation, other business fold, while
others will open of flourish. Some even restructure like merging or buying-
out firms, to respond to the changes that are required in order to become
sustainable in the business.
4. Generates new materials. Entrepreneurs are always in constant search for
better and cheaper sources of materials they need. Finding new material
providers help in the economic growth of the place. These could be sourced
from because of the value creation.

5. Stimulates investment interest in the new business ventures being

created. When entrepreneurs engage in a new business, it stirs curiosity for
other to invest in the business because of the benefits it offers. This new
investment contributes to economic growth.

6. Improves the quality of life. The new products and services developed by
the entrepreneur contribute to the increase of personal benefit and
convenience of people in society. The use of automatic gadgets in cooking or
washing clothes, mobile phones, internet services, agricultural machines,
and may other innovation leads to a better quality of life.

7. Serves as role model. Entrepreneurs are people to be emulated by younger

generations in the community and society at large. The attitude, behavior
and personality traits, like proactiveness, opportunity recognition,
risktaking, alertness, and creativity, are some of the characteristics of that
will also make them successful entrepreneurs in the future.

8. Bring social benefit to the people. Entrepreneurs pay taxes for every
product or services sold in the market. They also pay for the permits and
licenses to operate their businesses. The income derived from all these taxes
by the government are then used for the people, especially the poor to have
more access to social service such as education and health, as well as
improvement in infrastructure facilities, such as roads and bridges for faster
and safer transportation of people from various destination.

9. Utilizes and mobilizes indigenous resources. Small and medium

enterprise will always look for cheaper and local materials to supply their
needs. They make use of idle or unused resources to meet their needs. This
saves much in terms of foreign currency as local enterprises patronize their
own resources and they do not become dependent on imported materials.

10.Provides more alternatives for consumers. The stiff competition in the

market for quality and cheaper products and services requires the
entrepreneur to come up with more products and services consumers can
choose from. Entrepreneurs also become more concerned about the welfare

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 of their consumer, and ethical in producing and selling their products and
services, in order that the consumers will prefer them over the other
enterprises selling the same.

Explore

Hereare someenrichment activities for you to work on to master and strengthen the
basic concepts you have learned from this lesson.

Enrichment Activity 1. Local Entrepreneurs

Direction: Interview at least three entrepreneurs in your municipality then

complete the table below. Write your answer on a separate sheet of paper.

Name of Type of Business No. of years Contribution in

Entrepreneur engaged in the society
business
1,
2.
3.
(Based your answer on the discussion above.)

Assessment 1. Pick and Analyze!

Direction: Below are relevance of entrepreneurship and entrepreneurs in

economic development and society. Pick at least two (2) and explain according to
your own idea or perception. You may explain it by giving a scenario or an example.
Use separate sheet of paper for your answer.

Provides more alternative for

Creates employment
consumers
Introduces Innovation Develop new markets
Stimulates Investment Generates New Sources of Materials

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Serves as role models Improves the quality of life
Utilizes & mobilizes indigenous materials Brings social benefits to the people

Rubrics for Scoring:

CATEGORY 10 pts. 9 pts. 8 pts 7 pts or below
Content Sentences Sentences Sentences Sentences
/Facts contain little or contain very few contain some contain
no errors errors and grammatical many
And thoroughly accurately errors, and it errors or there is
explains the explains the mostly explains no
scene. scene. the scene. explanation at
all.
Clarity Expresses Opinion s and Unclear Does not
opinion and ideas are stated connection to express
ideas in a clear clearly with the topic. opinions or
and concise occasional lack Evidenced in ideas clearly, no
manner with of connection to minimal express connection to
obvious the topic. of opinions or the topic.
connection with ideas
the topic.
Creativity Examples/scen Examples/scena Some Examples/scena
arios are all rios are almost examples/scenar rios are not
clear and clear and ios are clear and clear and not
relevant and relevant and relevant relevant and
make the make the and make make the
content easier content easier to the content hard to
to understand. understand.. content easier to understand.
understand.

Deepen

Direction: Pretend that you want to be an entrepreneur five years after graduating
senior. Create a timeline that illustrates the step by step process you could do to
achieve a successful future career. You can paste cut-outs from old magazines for

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your illustration. In each panel, explain how you would take that step. Create at
least 3 panels.

Rubrics for Scoring:

CATEGORY 10 pts. 9 pts. 8 pts 7 pts or below
Content/Facts Facts were Facts were Facts were Facts were
accurate for all accurate for accurate for often inaccurate
events reported almost all most (75 %) of for events
on the timeline. events reported the events reported on the
on the timeline. reported on the timeline.
timeline.
Sequence of Events are Almost all Most (75%) of Most events are
Content placed in events are events are incorrectly
proper order. placed in placed in placed on the
proper order. proper order. timeline.
Creativity Additional Additional Additional No additional
elements, such elements, elements are elements are
as picture are but do included that used.
incorporated to not enhance the are not relevant
enhance information. to the topic of
the information.
information.
Printed Materials:

Edralin, Divina M. (2016). Entrepreneurship (pp.12-15). Quezon City, Philippines:

Vibal Publishing House, Inc.

DEPARTMENT OF Education, Bureau of Secondary Education (2016). Module 2:

Cookery Manual (pp. 9-14) Pasig City, Philippines

Website:

https://www.scribd.com/document/447404388/Entrepreneurship-has-an-enormous-impact-on-
theeconomy-and- in-the-society

https://www.scribd.com/document/434271783/Nov-11-Lesson-Plan-in-Entrepreneurship