San Brendan College, Inc.

COMPETENCY BASED – LEARNING MODULE

COURSE TITLE : ENTREPRENEURSHIP

COURSE DESCRIPTION : This module introduces students to the opportunities and challenges
associated with the creation and management of entrepreneurial and
small organization. This course discusses innovative and contemporary
approaches in addressing areas such as: starting, acquiring a business,
seceding in business and franchising a small business venture.

CONTACT HOURS : 3 units (3 hours a week for 18 weeks for 54 hours per
semester)

PREREQUISITE : NONE
2 Entrepreneurship

Overview of Entrepreneurship and its Relevance to TLE Students

The word “entrepreneur” is derived from the French verb enterprendre, which
means „to undertake‟ . This refers to those who “undertake” the risk of new enterprises.
An enterprise is created by an entrepreneur. The process of creation is called
“entrepreneurship” (www.yourarticlelibrary.com).

DIAGNOSTIC ASSESSMENT
Identification. Read carefully the statements below and identify whether this refers to
Entrepreneurship or Entrepreneur. Write your answer in a notebook.
1. A person who undertakes the risk of starting a new business venture.
2. It is high-risk, but also can be high-reward as it serves to generate economic
wealth, growth, and innovation.
3. Creates a firm, which aggregates capital and labor in order to produce goods
or services for profit.
4. It is an important driver of economic growth and innovation.
5. Creates a business plan, hire labor, acquire resources and financing, and
provide leadership and management for the business.

Entrepreneurship is one of the resources economists categorize as integral to

production; the three resources are land/natural resources, labor and capital. An
entrepreneur combines these three to manufacture goods or provide services. They
typically create a business plan, hire labor, acquire resources and financing, and provide
leadership and management for the business (www.investopedia.com).

Definition of Terms: To fully understand this module, please read carefully the
definitions in column A and match it with the word/phrase in column B. Write
your answer in your activity notebook.

Column A Column B
1. It involves developing new products or improving existing A. Livelihood
technologies, processes, designs and marketing to solve
problems, increase efficiency, reach new customers, and
ultimately increase profits.
2. Involves sale or lease of any product, service, equipment, B. Entrepreneurship
etc. that will enable the purchaser-licensee to begin a
business.
3. Refers to the act of creating a business or businesses while C. Social Change
building and scaling it to generate a profit.
4. Refers to their "means of securing the basic necessities D. Socioeconomic
(food, water, shelter and clothing) of life".
5. The system of production, distribution and consumption. E. Business
The overall measure of a currency system; as the national Opportunity
economy.
6. Is a person who sets up a business with the aim to make F. Business Venture
a profit.
7. Refers to any significant alteration over time in behavior G. Relevance
patterns and cultural values and norms.

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 Entrepreneurship 3

8. Related to the differences between groups of people caused H. Business

mainly by their financial situation. Innovation
9. It is a new business that is formed with a plan and I. Entrepreneur
expectation that financial gain will follow. It is usually formed
out of a need for a service or product that is lacking in the
market.
10. It is simply the noun form of the adjective "relevant," which J. Economy
means "important to the matter at hand."

Lesson
1 Overview of Entrepreneurship

Meaning of Entrepreneurship and Entrepreneur (www.investopedia.com,

www.reference.com, www.europeanentrepreneurship.com)
Entrepreneurship is…
• The act of creating a business or businesses while building and scaling it to
generate a profit.
• An important driver of economic growth and innovation.
• What people do to take their career and dreams into their hands and lead it in
the direction of their own choice.
• About building a life on your own terms. No bosses. No restricting schedules. And
no one holds you back.
An entrepreneur is…
• A person who sets up a business with the aim to make a profit and creates a new
business, bearing most of the risks and enjoying most of the rewards.
• An innovator, a source of new ideas, goods, services, and business/or
procedures.
• Playing a key role in any economy, using the skills and initiative necessary to
anticipate needs and bring good new ideas to market.
Note: Understanding what an entrepreneur is can help more people recognize the
value they contribute to the world. Entrepreneurs take the idea and execute it while
entrepreneurship is about execution of ideas.

Entrepreneurship in the Philippines (Batalla, V. (2011)

The notion of the entrepreneur as simply one who forms and manages business is
apparent in government programs that attempt to develop small-scale industries. In the
Philippines, many entrepreneurial development-training programs rest on such
assumptions. But even without the presence of government support, the statistics for the
past fifty years or so on the number of business establishments formed every year would
generally show an increasing trend. They were mostly in food processing, property
development, and trade (including shopping malls).
In 2005, the top 50 Philippine corporations in terms of sales could be broken
down into 22 private domestic firms, 23 foreign firms, and 5 government-owned
and/or controlled corporations (BizNews Asia 2007as cited by Batalla, V., 2011). The 22
companies could be identified with 11 families and individuals, mostly Filipinos of
Chinese ethnic background. The 11 families and individuals were the Zobel family
(Ayala), the Lopez clan, Lucio Tan, Henry Sy, John Gokongwei, Alfonso Yuchengco,

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Eduardo Cojuangco Jr., Jose Yao Campos (Unilab Group of Companies), George Ty
(Metrobank), Mariano Que (Mercury Drug), and Tony Tan-Caktiong (Jollibee).

Lesson Relevance of Entrepreneurship to

2 TLE Students

Importance of Entrepreneurship (www.reference.com)

1. Entrepreneurship generates new wealth in an economy.

2. Entrepreneurship decreases poverty.
3. It creates opportunities, ensures social justice, instills confidence and stimulates the
economy.
4. Entrepreneurship improves productivity
5. Entrepreneurs create jobs.
6. Entrepreneurs innovate.
7. Entrepreneurs create innovation and social change
8. Entrepreneurs give to society

Relevance of Entrepreneurship to TLE Students

(www.europeanentrepreneurship.com)

1. To prepare students for livelihood even before college.

2. Entrepreneurship education aids students from all socioeconomic backgrounds to
think outside the box and nurture unconventional talents and skills.
3. Entrepreneurship develops their initiative and helps them to be more creative and
self-confident in whatever they undertake and to act in a socially responsible way.
4. It exposes students to numerous opportunities to learn how to think critically and
analyze the pieces on the board.
5. Being aware of all the important factors and seeing how they affect each other is the
foundation of a smart decision-making process.
6. Students have to be exposed to real-world examples and learn from their own
experience.
7. Entrepreneurship education requires students to be innovative, creative and
collaborative with others.
8. Entrepreneurship education provides budding entrepreneurs with the skills and
knowledge to come up with business ideas and develop their own ventures.

ACTIVITY

Independent Activity 1. Picture Analysis. Analyze the picture below then answer the
corresponding guide questions. Write your answer in your activity notebook.

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 Entrepreneurship 5

https://images.search.yahoo.com

Guide Question: What appropriate product and/or business that can be conceptualized
during this COVID -19 pandemic? Write as many in bullet form in a notebook.

Independent Activity 2. Enumeration. Give what is asked in the items below. Write your
answers in your activity notebook.

1. Give the three (3) business resources

2. Give three (3) importance of Entrepreneurship to the economy.
3. Give three (3) relevance of Entrepreneurship to
you as a student
4. Give three (3) known families who owned the big Corporations in the Philippines.
5. Give three characteristics of an Entrepreneur.

What I Need to Reflect

Embarking on the entrepreneurial career path to “being your own boss” is
exciting. But along with all your research, make sure to do your homework about
yourself and your situation (investopedia.com).

A Few Questions to Ask Yourself (ww.investopedia.com)

• Do I have the personality, temperament, and mind-set of taking on the world
on my own terms?
• Do I have the required ambiance and resources to devote all my time to my
venture?
• Do I have the required network to seek help and advice as needed?
• Have I identified and built bridges with experienced mentors to learn from
their expertise?
• Have I identified my target customer base for the initial phase?
• Have I identified sales and distribution channels?
• Who are the funding sources I may need to approach to make this big?
• What technical infrastructure do I need?

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6 Entrepreneurship

What I Can Do?

WORK IN PROGRESS

You are tasked to conceptualize your future business plan which you can work on as
we discuss our next lessons and later you may venture into after finishing this subject.

Formative Assessment

Multiple Choice: Read and answer each statement carefully then write the
letter of the best answer on a separate sheet of paper.

1. Who acts as a coordinating agent in a capitalist economy?

A. Manager C. Entrepreneur
B. Finance Officer D. Broker
2. Which of the following is not a definition of Entrepreneurship?
A. It creates opportunities, ensures social justice, instills confidence and
stimulates the economy.
B. It is an important part of the economic growth strategies of many local and
national governments around the world.
C. Refers to a person who sets up a business with the aim to make a profit.
D. The act of creating a business or businesses while building and scaling it to
generate a profit.
3. Which of the following is a relevance of Entrepreneurship to SHS Students?
A. It generates new wealth in an economy.
B. It aids students from all socioeconomic backgrounds to think outside the box.
C. It creates opportunities and ensures social justice.
D. It creates job.
4. Which statement is not correct about the status of entrepreneurship in the
Philippines?
A. The number of business establishments formed every year would generally show
an increasing trend.
B. N-entrepreneurs are people who can secure resources such as technology and
information to gain distinct, sustainable, competitive advantages.
C. In 2005, the top 50 Philippine corporations in terms of sales could be broken
down into 25 private domestic firms, 20 foreign firms, and 5 government-owned
and/or controlled corporations.
D. The 22 companies could be identified with 11 families and individuals, mostly
Filipinos of Chinese ethnic background.
5. Which of the following words is not associated with entrepreneur?
A. innovative C. collaborative
B. impulsive D. Creative

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Additional Activities

DIRECTIONS: In the table below, write down at least five (5) sentences
why you want to become an Entrepreneur someday.

The following motivates me to become an entrepreneur someday:

1.
2.
3.
4.
5.

Competencies in Entrepreneurship
Lesson and Job opportunities for
3 Entrepreneurship as a career

After going through the module, you are expected to:

1. Gain insights about the competencies every Entrepreneur should develop.
2. Explore job opportunities for Entrepreneurship as a career.

PRE-TEST

DIRECTIONS: To check your prior knowledge about the topic, please list down at least five (5)
competencies in entrepreneurship and five (5) job opportunities for Entrepreneurship as a career.
Write your answer in your activity notebook

Competencies in Entrepreneurship Job opportunities for Entrepreneurship as a career

1. 1.
2. 2.
3. 3.
4. 4.
5. 5.

As you go further, let us try to recall about the concept of Entrepreneurship. Entrepreneurship is a
catchword in this era of globalized economy. It is a foundation
and catalyst for economic growth and innovation across nations (Edralin, D. M., 2016).
Common Elements of Entrepreneurship (Edralin, D. M., 2016):
• Innovation
• Opportunity seeking and exploitation
• Resource mobilizing
• Encountering risks and uncertainties
• Economic and personal rewards

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8 Entrepreneurship

Roles of Entrepreneurship and Entrepreneurs in Economic Development and Society (Edralin, D.

M., 2016):
• Creates employment
• Develops new markets
• Introduces innovation
• Generates new sources of materials
• Stimulates investment interest in the new business ventures being created
• Improves the quality of life
• Serves as role models
• Brings social benefits to the people
• Utilizes and mobilizes indigenous resources
• Provides more alternatives for consumers

Entrepreneurs are found everywhere around the globe and they are a distinct group of business
people who contribute to the development of the society. They are the founder and creator of the
enterprise who make use of the opportunities that abound to start or grow business, knowing that there
are risks involved in such undertaking (Edralin, D. M., 2016).

MAKE MEANING- INTERNET ASSSISTED ACTIVITY

DIRECTIONS: Give the meaning of the following word/phrase in each item. You may use the internet to
define the given word/phrase. Write your answer in your activity notebook.
1. Competency
2. Job Opportunities
3. Enterprise
4. Creative thinking
5. Managing Change

Are entrepreneurs born or made?

This question has long been debated with little agreement. However, as cited by Longenecker,
J.G., et.al. (2016), Stephen
Spinelli and Robert Adams described entrepreneurs as having and exhibiting “desirable and
acquirable attitudes and behaviors” such as commitment and determination, leadership, opportunity
obsession, risk-takers, motivation to excel, creativity, self-reliance, and adaptability. According to
(www.ideasforleaders.com), competencies such as risk seeking, assertiveness and vision are considered
typical of a successful entrepreneur. But these are innate predispositions or aspects of temperament; by
using them as yardstick, it is wrongly concluded that only certain types of people make good
entrepreneurs or are capable of worthwhile innovations.

Is there such a thing as a ‘natural-born entrepreneur’?

Accordingly there is not. Specific techniques and habits must be practiced and developed by all
would-be entrepreneurs. Aside from business competencies, entrepreneurs need interpersonal and self-
leadership skills too; however, these are often overlooked. Entrepreneurial behavior‟ can be learned
and developed (www.ideasforleaders.com).
The question is not who entrepreneurs are, but what they do, and more important than business
skills can be other competencies that provide a foundation for those business skills
(www.ideasforleaders.com).

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 Entrepreneurship 9

Furthermore, according to www.ideasforleaders.com, there are three levels of

competencies, which all entrepreneurs need:
1. Personal competencies – These are your abilities to ground yourself so that you are secure
and self-assured in whatever situation you may find yourself (www.free-management-
ebooks.com).
Ex. creativity, determination, integrity, self-criticism.
2. Interpersonal competencies – These are your ability to lead, influence, communicate,
supervise, negotiate, and control people at all levels. It is the ability to get along with people and
motivate people to perform jobs.
Entrepreneurs must effectively manage people (baseread.com).
Ex. communication, engagement, delegation
3. Business competencies – These are set of particular abilities and knowledge that sets a
company apart from its competitors (yourbusiness.azcentral.com). It also refers to the key
characteristics that successful entrepreneurs should have in order to be successful
(www.mustangbols.com).
Ex. business vision, financial management, networking

Core vs. Common Competencies in Entrepreneurship

Competencies in entrepreneurship play a leading role in making entrepreneurs

successful (baseread.com).
Entrepreneurial competencies facilitate opportunity recognition, help adapt rapidly to
changes, enhances business performance, strengthen the firm‟s competitive position and stir the
achievement of organizational success. It is the sum total of the personality, skills and knowledge that
the entrepreneur possesses, which are necessary to effectively perform their functions and
responsibilities (Edralin, D. M., 2016).
Competence is an underlying personal characteristic which leads to superior performance.
It is a combination of knowledge, skills, attitudes, and motives (baseread.com).
Core competence is the foundation for sharpening a company's competitive edge and it
guides brand reputation, business growth, and marketing strategy (www.thebalancesmb.com).
Common competence is one that describes the knowledge, skills and abilities found in
most or all position (www.ifpm.nifc.gov).

Examples of Core and Common Competencies in Entrepreneurship

Core Competencies Common Competencies

1. Organizing and Planning 1. Analytical and critical thinking
2. Cash flow management 2. Decision making
3. Personnel management 3. Leadership
4. Operations and distribution 4. Communication
5. Customer Relations 5. Computer Literacy
6. Bookkeeping/Accounting 6. Human Relations
7. Promotions and Advertising 7. Managing Change
8. Resources Management 8. Creative Thinking
9. Financial Management 9. Time Management
10. Information Management 10. Conflict Management

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10 Entrepreneurship

Job Opportunities for Entrepreneurship as a Career

If you‟re an aspiring entrepreneur, there are different career paths you can take to turn your
dream into a reality. Which path you choose will depend on your experience, skills, finances, and
flexibility, as well as your goals for the future (Doyle, A., 2020).
Career opportunities you might pursue according to Michalowicz (2011) as cited by Edralin, D.
M., 2016):

Entrepreneurship Career
Opportunities for the Entrepreneurship Career Opportunities for the
Academic Track TECHVOC Track
• Business Consultant Fine Arts
• Sales • Artist
• Research and development • Graphic designer
• Not-for-profit fundraiser • Photographer
• Teacher • Art gallery manger
• Talent recruiter • Film director
• Business reporter Fashion Designing
• New venture creation • Designer wear production
• Career in existing • Fashion marketing, planning and concept management
entrepreneurial ventures • Fashion media design management
• Fashion accessory design, quality control, and promotion
brands
• Costume designer
• Fashion consultant and personal
stylist
• Technical designer and graphic designer
• Fashion coordinator
Sports
• Health club manager
• Strength, wellness or conditioning coach
• Fitness program or event planning manager
• Professional or amateur team manager
• Sports facility manger
• Corporate fitness director
• Rehabilitation center director
• Nutrition center manager
Other TECHVOC Track
• Cook/Chef
• Automotive mechanic
• Electrician
• Technical support specialist
• Tool keeper and technician
• Network support Associate
• Mechanical technologist

Note: Most would-be entrepreneurs, however, remain self-employed, preferring to be the boss.
Reasons why many would like to become an entrepreneur (www.scu.edu):
1. Achievement, Challenge, & Learning

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 Entrepreneurship 11

2. Independence & Autonomy – you can set your own goals, pick their own partners, and face the
consequences of your decisions.
3. Income Security and Financial Success
4. Recognition and Status
5. Family
6. Dissatisfaction with Current Work Arrangements
7. Community and Social Motivation

Activity 1. Read and analyze the facts about the competencies in Entrepreneurship below.
Determine whether the statement is TRUE OR FALSE. Write TRUE if the statement is correct
and write FALSE if otherwise. Write your answer in your activity notebook.

1. Entrepreneurship can be learned by anyone, it‟s not something that can simply learn in a
classroom.
2. Certain skills, such as communication, delegating and respecting others can only be acquired
through practice and developing „habits of character‟.
3. Habits of character may not strictly be related to business but are to do with the kind of person the
entrepreneur is and what he/she does.
4. An entrepreneur has to have certain cultivated and inherent qualities in order to make a success of
his or her venture.
5. Hard work and determination to win have made many successful business people to reach their
aspired goals.
6. An Entrepreneur must hesitate for personal or other reasons.
7. Business involves many risks, which an entrepreneur must hesitate to take.
8. New ideas help make a business venture successful.
9. Certain attributes are essential for an Entrepreneur to establish his or her business on sound
footing.
10. The only way to acquire the habits essential for entrepreneurs is by acting in a way inconsistent
with them.

Activity 2. Read and analyze the competencies below that every entrepreneur should develop and identify
whether this refers to Personal Competencies, Interpersonal Competencies, or Business
Competencies. Write your answer in your activity notebook.

1. Emotional balance 6. Resource Management skill

2, Negotiation skills 7. Resiliency
3. Leadership skills 8. human relation
4. Persistence 9. Respect
5. Charisma 10. Tenacity

Activity 3. Word Search: Please search for the ten (10) competencies of an entrepreneur in the box
below. Clues are provided. Write your answers in your activity notebook.

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12 Entrepreneurship

Competencies of Entrepreneur

R N G E X J F W R E I R N L W
V E N C V C A C I N K M Z H R
C T I S Q I P R C T L N C E O
F W K N X W T H Z E A N S S Y
O O R X N W S A C R I O T P T
L R O I O O D P E P U G A K J
K K W J A O V T D R J N S L H
Z I D H L L F A C I C I C B X
I N R M K N T E T S R R G W D
W G A R B M F O R I T I N M T
N H H Z J U L M S N V N I A U
A C G I L S F K X G L E K B H
B E V I T I T E P M O C A P Y
D E T E R M I N E D R C T H O
T N E D I F N O C B P Y J M Y
Clues:
_______________1. Showing assurance and self-reliance
_______________2. Firmly resolved
_______________3. Capable of devising ways and means
_______________4. Showing initiative and willingness to undertake new projects
_______________5. Having the quality of something created rather than imitated
_______________6. Introduce something new or different
_______________7. As good as or better than others of a comparable nature
_______________8. The act or fact of doing something that involves danger
_______________9. Habitually engaged in earnest and energetic work
_______________10. The cultivation of productive relationships for employment or business

CHECK YOUR UNDERSTANDING - DIRECTIONS: Aside from the given examples in

the above discussions, enumerate what is asked in the box. Write your answer in
your activity notebook.

. Competencies in Entrepreneurship
Personal Competencies:
1.
2.
Interpersonal Competencies:
1.
2.

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 Entrepreneurship 13

Business Competencies
1.
2.
Core Competencies:
1.
2.
Common Competencies:
1.
2.
Job Opportunities for Entrepreneurship as a Career
Possible business venture:
1.
2.
Possible full-time job:
1.
2.
Reasons why many would like to become an entrepreneur:
1.
2.

POST-TEST:

Identification. Read and analyze the statements below and identify whether it requires a common
competency or core competency. Write A if it is a common competency and B if it is a core
competency. Write your answer in your activity notebook.

_________1. Writing business correspondence.

_________2. Preparing income statement
_________3. Designing for packaging and labelling.
_________4. Relating with staff and co-workers.
_________5. Managing quality customer service.
_________6. Giving solution to a problem.
_________7. Coordinating with channel of distribution.
_________8. Negotiating with suppliers.
_________9. Adopting to work environment.
_________10. Able to operate computer system and applications.

Multiple Choice. Read and analyze the statements below and then write the letter of the best
answer in your activity notebook.

_______1. Ronald is graduating SHS. After his graduation, he is planning to put up a computer shop.
What core competency he needs to develop?
A. Arts and design B. Systems and application
C. repairs and maintenance D. machine and equipment
_______2. Leticia is an employee of a fast-food chain. What common competency she needs to
develop?
A. Time management B. Managing Conflict
C. Leadership D. Critical thinking

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_______3. Mang Tomas is the owner of the Tomas Welding Shop. What common competency he
needs to develop?
A. Change management B. Human Relations
C. Time management D. AB&C
_______4. If Promotions and Advertising are core competency in Entrepreneurship; _______ is a
common competency in Entrepreneurship.
A. managing sales B. listening to the sentiments of workers
C. coordinating with partners D. Conducting research
_______5. If good human relations is to Interpersonal Competency; Visioning is to ________.
A. Personal competency B. Core Competency
C. Common Competency D. Business Competency

REFLECTIVE LEARNING

Entrepreneurship education aids students from all socioeconomic backgrounds to think outside
the box and nurture unconventional talents and skills. Hence, you need to think about and reflect on
the following questions (www.excite.com/education/business/entrepreneurship/careers):

• How long does it take to start a career in entrepreneurship?

The amount of time it takes to make it as an entrepreneur depends on the field you choose to
venture into. Since entrepreneurs can exist in any sector of the economy, there is a vast and almost
never-ending list of paths to choose from. Therefore, you cannot define a single time-frame for careers
in entrepreneurship.

• What are the requirements for a career in entrepreneurship?

The first thing you need to do is find the right business idea and get education according to it.
You will then need to make a business plan and define your target market. Once you have established
these, you should start networking and selling your idea into your targeted market.

• How much can I make with a career in entrepreneurship?

The salary figures for entrepreneurs vary according to the field they venture into and how well
their idea sells in the market. If your idea is unique and useful, you might end up making a lot of
money.

• What skills do I need for entrepreneurship career?

To become a successful entrepreneur, you must demonstrate good skills and should be
educated in the field. Some skills that can turn out to be useful are: communication skills, leadership
skills, analysis skills, decision making skills, problem solving skills, critical thinking skills, and
management skills.

DIRECTIONS: As would-be Entrepreneur, you are tasked to write down at least 3 career
opportunities which attract you most. Indicate what competencies you need to enhance in order to
become successful in these opportunities. Write your answer in the space provided.

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E-SITES
To further explore the concept learned today; please watch the video about “Young
Entrepreneurs Success Story”. Follow the link below:
www.youtube.com/watch?v=j7wZogQhmFE

Lesson The Potential Market and the Market

4 Need

EXPECTATIONS

After going through the module, you are expected to:

recognize a potential market and analyze the market need.

PRE-TEST

DIRECTIONS: To check your prior knowledge about the topic, please analyze the pictures below
and list down at least three (3) potential markets that entrepreneurs should consider during this
COVID -19 pandemic and indicate their needs. Write your answer in the space provided.

https://images.search.yahoo.com/
Potential Market Market Need
1. 1.
2. 2.
3. 3.

LOOKING BACK TO YOUR LESSON:

Please answer the questions below. Good Luck!

Multiple Choice. Write the letter of the correct answer that best complete the sentence in your
activity notebook.
______1. All are core competencies in Entrepreneurship, except:
A. basic bookkeeping/ accounting skills B. communication skills
C. building relations with customer D. building competitive advantage

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16 Entrepreneurship

______2. Which of the following is not a business competency? This competency covers the outcomes
required to build, _____ and grow a micro/small-scale enterprise - like developing and maintaining
small-scale business, establish customer base, and manage business finances.
A. Establish customer service B. Manage finances
C. Preparing business letters D. Monitoring operations

______3. Which is not a goal of entrepreneurial competency?

A. Expanding the enterprise B. Expanding markets and clientele C. Developing
individuals and teams D. Enhancing one’s business skill

______4. All are important aspects of Entrepreneurship as a course, except: A. Discussion

on economic issues and concerns.
B. Explanation of key concepts of competencies in Entrepreneurship.
C. Discussion on the relevance of the course.
D. Exploration of career opportunities.

_______5. Which of the following does not cover a high-performing enterprise?

A. Build and develop the enterprise to be more competitive within a changing business
environment.
B. Creating gaps among employees.
C. Responding to consumers’ demand.
D. Maintaining product quality and accessibility.

BRIEF INTRODUCTION

The Potential Market

1. Potential market is the part of the total population that has shown some level of interest in
buying a particular product or service. Potential market is also called Total addressable
market (TAM) (MBA Skool Team, 2018).
2. A potential market is the part of the market you can capture in the future. It includes the
demographic groups that are not currently your customers but could become customers in the
future (Lake, L, 2019).
3. Market potential is the total demand for a product in a given business environment (Bhasin, H.,
2018).

The Importance of Potential Markets (Lake, L., 2019)

• Potential markets are an important part of a business's future growth.
• Ensure the future of your business by identifying new customers.
• Think proactively about ways for your business to grow and change.
• Show the potential of your business to investors or collaborators.
• Increase your revenue.
• Create a plan B that will weather changes in the economy or market.

How to Identify Your Potential Markets (Lake, L., 2019)

• Consider every target demographic that you currently sell to, as well as those you have not
yet targeted. Identify what they have in common with each other, new milestones that they

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 Entrepreneurship 17

will encounter in their lives that will impact their buying patterns, and where they overlap
or diverge from your current customers.

Ask yourself these questions that will help you identify both new ways to market your current
products or services, as well as new products and services that you can begin selling.
• What other products do my customers need now?
• What related products will they need in the future?
• Who else could make use of the products I am selling now?
• What demographic information does that new group have in common with my current
customers?
• What demographic information does that new group have in common with
each other?
For example, a business that makes face masks and PPEs could identify potential markets such as:
• Hospitals and other health related industries whose employees are prone to COVID -19 virus
and other viruses.
• Business industries and other organizations who want to ensure the health condition of their
employees.
• Employees and workers who need to report to work to earn income.
• Households who needs to go out for their necessities.

Note: Depending on the size and age of your company, as well as your industry, you may have a clear
picture of the potential markets that are available.

Reaching Your Potential Market (Lake, L., 2019)

Once you've identified and chosen a potential market to begin targeting, you will need new
marketing strategies in place to communicate with them. Use this profile to identify:
• The demographic information that people in a group have in common.
• The best forms of media to reach them.
• How they prefer to shop and make purchases.
• The concerns, struggles, or problems that you can help them overcome.
• What values matter to them, both in everyday life and when shopping.
• The language that resonates with them.

The figure below depicts what is a potential market with respect to the total population and
how it can be converted to a penetrated market:

MBA Skool Team, 2018

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18 Entrepreneurship

Available Market
• Prospects who are willing and capable (have sufficient resources) buyers, and have access to a
particular market or service (www.businessdictionary.com).
• Defined as the number of people who are both willing and capable of buying a particular product
or service in a particular market (MBA Skool Team, 2020).

Target Market
Refers to a group of potential customers to whom a company wants to sell its products and
services. Target markets are generally categorized by age, location, income, and lifestyle.
Defining a specific target market allows a company to home in on specific market factors to
reach and connect with customers through sales and marketing efforts. (Kenton, W., 2019).

Penetrated Market
A set of customers or clients who are already using a particular product or service. A penetrated
market means that the potential users of a product or service are aware of it, and in many
cases are active consumers of it.
(www.businessdictionary.com).

The size of a potential market helps a company understand the level of investment it
should make further in the market, while taking into consideration other factors. If the potential
market is very small, it means there is a very small fraction of the total population showing any
interest in the product or category. This means that it is better that the company doesn’t invest further
in the product or category because people won’t buy it. If the size of the potential market is
large, it means that there is a huge fraction of the total population which is showing interest in the
product, so further investment can be made on the product development or modification, marketing,
promotions etc. The size of the potential market gives an estimate of what all a company should
do and how much it should invest (MBA Skool Team, 2018).

The Market Need

1. Need o A motivating force that compels action for its satisfaction. Needs range from basic
survival needs (common to all human beings) satisfied by necessities, to cultural,
intellectual, and social needs (varying from place to place and age group to age group)
satisfied by necessaries (www.businessdictionary.com).
o A driver of human action which marketers try to identify, emphasize, and satisfy, and
around which promotional efforts are organized (www.businessdictionary.com).
2. Market o A Market is a place where two parties can gather to facilitate the exchange of
goods and services. The parties involved are usually buyers and sellers. The market may be
physical like a retail outlet, where people meet face-to-face, or virtual like an online market,
where there is no direct physical contact between buyers and sellers (Kenton, W. & Boyle,
M., 2020).
o A market does not refer to a particular place but it refers to a market for a commodity
or commodities. It refers to an arrangement whereby buyers and sellers come in close
contact with each other directly or indirectly to sell and buy goods (Shaikh, S., retrieved
2020).
o A market is any place where sellers of particular goods or services can meet with buyers
of those goods and services. It creates the potential for a transaction to take place. The

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 Entrepreneurship 19

buyers must have something they can offer in exchange for the product to create a
successful transaction (Moffatt, M., 2019)

Your market consists of (Stull, C., Myers, P.& Scott D.M. (2008) as cited in: https://learn.marsdd.com/):
Existing customers: People who have already purchased your product.
Prospects: People who have not yet purchased your product but are considering it.
Target market users: People in your target market who are not currently looking for a solution.

Define the Market Need for Your New Business

Why is it important to clearly define market needs?

The market now demands that your business align to their needs. In order to properly align your
marketing efforts ‒ and your content, in particular ‒ to what buyers need, you have to have a clear
understanding of the many intricacies, pains and pressures within your market. To achieve such alignment,
the ability to define market patterns, needs, interests, preferences, etc. for a comprehensive view of the
buying process is critical (www.aberdeen.com).
Below are ways to define your market (Lancaster SCORE (2010):
• Consider whether the business offers a new solution to an old problem or complements an emerging
trend.
• Have a clear picture of your target market.
• Determine the benefits that your product or service offers.
• Examine industry data that can confirm whether there is a sustained, growing demand for your product
or service.
• Identify the percentage of market share that it is realistic for you to capture. The more competition you
have, the lower the margins will be.
• Consider how realistic your pricing is. How can you present your product or service to potential customers
so that it appears to be a good value, while still affording you a healthy profit?

Activity 1. Read and analyze the statements below about “Market”. Determine whether the statement is
TRUE OR FALSE. Write TRUE if the statement is correct and write FALSE if otherwise. Write your
answer in the space provided.

__________1. A market is any place where two or more parties can meet to engage in an economic
transaction—and should only involve legal tender.
___________2. Market includes retail stores and other similar businesses that sell individual items to
wholesale markets selling goods to other distributors but may not be virtual.
___________3. Market refers to the whole area of operation of demand and supply. ___________4. A market
signifies any arrangement in which the sale and purchase of goods take place.
___________5. The market establishes the prices for goods and other services.

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20 Entrepreneurship

Activity 2. Read and analyze the given situations below. Identify whether this refers to existing
customer, prospects, or target market users. Write your answer in the space provided.
1. Students need to buy a tablet/ laptop for 6. Arlene, a student of a public school, needs mobile
school requirements. data in order to comply with the requirements in
school.
2. Ana used to buy shampoo. 7. Hospitals need facemasks and PPEs.

3. Households living in a remote area. 8. Mike, a sari-sari store owner, wants to go online
selling.
4. Martha, a call center agent, needs a Wi-Fi. 9. Jeep drivers need to modify
their jeeps for public transportation.

5. Karlo, a factory worker, needs transportation. 10. Ella needs to buy her vitamin C to boost her immune
system.

Activity 3. MAKE MEANING- INTERNET ASSSISTED ACTIVITY

DIRECTIONS: Give the meaning of the following word/phrase in each item. You may use the
internet to define the given word/phrase. Write your answer in the space provided.
1. Customer vs. consumer _____________________________________________________
2. Demographic group_________________________________________________________
3. Market share _______________________________________________________________
4. Market size _________________________________________________________________
5. Marketing strategies_________________________________________________________

REMEMBER
•Potential market is the part of the total population that has shown some level of interest
in buying a particular product or service. Potential market is also called Total addressable market
(TAM) (MBA Skool Team, 2018).
• Available Market are prospects who are willing and capable (have sufficient resources)
buyers, and have access to a particular market or service (www.businessdictionary.com).
• Target Market refers to a group of potential customers to whom a company wants to sell its
products and services. Target markets are generally categorized by age, location, income, and
lifestyle (Kenton, W., 2019).
• Penetrated Market is a set of customers or clients who are already using a particular
product or service (www.businessdictionary.com).
• Need is a motivating force that compels action for its satisfaction. Needs range from basic
survival needs (common to all human beings) satisfied by necessities, to cultural, intellectual,
and social needs (varying from place to place and age group to age group) satisfied by
necessaries
(www.businessdictionary.com).
• A Market is a place where two parties can gather to facilitate the exchange of goods and
services (Kenton, W. & Boyle, M., 2020).
• Existing customers are people who have already purchased your product.
• Prospects are people who have not yet purchased your product but are considering it.
• Target market users are people in your target market who are not currently looking for a
solution.

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 Entrepreneurship 21

CHECK YOUR UNDERSTANDING

Considering the ways to define your market, evaluate the situations below using 1 to 5 rating
scale, 5 as the highest and 1 as the lowest. Justify your answer in 1 to 2 sentences only. Write your
answer in your notebook.

Situations Rating Justification

To produce face masks and
PPEs.
To open on-line business for
fashion accessories.

To open a massage center.

To open a computer shop.

To open a carinderia

POST-TEST:

Identification. Read and analyze the statements below and identify whether this refers to potential
market, available market, target market, or penetrated market. Write your answer in your
notebook.

_________1. Active consumers of a product.

_________2. People who are both willing and capable of buying a particular product or service in a particular
market.
_________3. It is the part of the total population that has shown some level of interest in buying a particular
product or service.
_________4. It includes specific customers to whom a company directs its marketing efforts.
_________5. Customers or clients who are already using a particular product or service.

MATCHING TYPE. Match the definitions in Column A with the word/phrase in Column B. Write your
answer in the space provided.

Column A Column B
1. It is a company’s marketing goals and objectives combined into a single A. Market
comprehensive plan.
2. Refers to a person or organization that uses a commodity or service. B. Target Market

3. This is an area or arena in which commercial dealings are conducted. C. Potential Market

4. This is used to give a general idea of the size of a company in relation to D. Need
its market and its competitors.
5. This is one part of the total market for a good or service. E. Demographic group

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22 Entrepreneurship

6. It is also called Total addressable market (TAM). F. Market Strategy

7. A person or business that purchases a commodity or service. G. Market size

8. Circumstances in which something is necessary, or that require some H. Customers

course of action; necessity.
9. The study of the characteristics of human populations, such as size, I. Consumers
growth, density, distribution, and vital statistics.

10. The number of buyers and sellers in a particular market. J. Market share

REFLECTIVE LEARNING

If you’re thinking about starting a business, most likely you have dreamed of one that involves
your interests. But, what does the market need or want? Do you know who is buying what and how
much, or how, where and why they are buying those goods or services already?

Determining the marketability of your start-up business is typically done in the context of
creating a business plan and performing an analysis of your competition. It requires research into areas
of marketability.

As would-be Entrepreneur, you are tasked to identify your dreamed business, one that
involves your interests. Indicate who are your potential market, target market, available market
and/or penetrated market. Write your answer in your activity notebook.

E-SITES
To further explore the concept learned today, please watch the video about “Understanding
Customers need” @www.youtube.com

Lesson The Possible Product/s or Service/s

4 that will Meet the Need

EXPECTATIONS

After going through the module, you are expected to:

determine the possible product/s or service/s that will meet the need.

PRE-TEST

DIRECTIONS: To check your prior knowledge about the topic, please analyze the statements below.
Write the letter of the correct answer in your notebook.

_________1. Which is referred to as a marketing offering?

A. Product/Service B. Sales C. Company D. Goals
_________2. Which of the following is not a tangible product?

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 Entrepreneurship 23

A. Car B. Alcohol C. event organizer D. Face mask

_________3. Which is referred to as the production of an essentially intangible benefit?
A. Items B. Company C. Service D. Market
_________4. Which of the following is a customer need that an Entrepreneur should consider?
A. Usability B. income C. occupation D. savings
_________5. Which is not an after sales service?
A. Online support B. warranty & Guarantee
C. Returns & Replacement D. Employee training

DIRECTIONS: Read and analyze the statements below. Determine whether the statement is TRUE OR
FALSE. Write TRUE if the statement is correct and write FALSE if otherwise. Write your answer in your
note book.

_____________1. Penetrated Market is a set of customers or clients who are already using a particular
product or service.
_____________2. Available market refers to a group of potential customers to whom a company wants to
sell its products and services.
_____________3. Target market users are people who have not yet purchased your product but are
considering it.
_____________4. Need is a motivating force that compels action for its satisfaction.
_____________5. Existing customers are people who have already purchased your product.
_____________6. To know the demographic information that people have in common is a way of reaching a
potential market.
_____________7. To determine the potential market is not helpful for business future growth.
_____________8. Asking what related products will customers need in the future is helpful in identifying
potential markets.
_____________9. Customer is a person or organization that uses a commodity or service.
_____________10. Market size is the number of individuals in a certain market segment who are potential
buyers.

BRIEF INTRODUCTION
As would-be-entrepreneurs, there is a need to find the right products or services for your target market. The
product or service should deliver superior customer value (Claessens. M., 2015)
Concepts about Product and Service

A product can be defined as anything that we can offer o a market for attention, acquisition, use or
consumption that could satisfy a need or want. However, the definition of product does not only involve
tangible goods such as a car, a fridge or a phone. The definition is extended to include intangible objects as
well, because they can be offered to a market. Therefore, the broad definition of product includes
services, events, persons, places, organisations or even ideas (Claessens, M., 2015).

Services are special form of product which consists of activities, benefits or

satisfactions offered for sale that are intangible and do not result in the ownership of anything.
A service can thus include banking, airline travel, communication services, hotel services
and so on (Claessens, M., 2015).

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24 Entrepreneurship

A product is a tangible item that is put on the market for acquisition, attention, or consumption,
while a service is an intangible item, which arises from the output of one or more individuals
(https://corporatefinanceinstitute.com).

Examples:

1. When a consumer buys a car, the product comes with a lot of other service responsibilities, such as
tune-up and maintenance
(https://corporatefinanceinstitute.com).

2. A laptop buyer now buys a bundle of service benefits in addition to the tangible components of the
laptop.

Specific Examples of products and services (https://www.archives.gov)

Products
• new prints of motion picture film elements
• prints for exhibit purposes
• reference copies on DVD/CDs, books, magazines for the reading rooms or other clients
• Cars, tables and chairs, etc.
Services
• consulting with clients on appropriate products for specific purposes
• providing advice on risk assessment and priority setting
• working on standards committees
• conducting training and other educational outreach

The Difference of Product and Service

(https://accountlearning.com)
Product Service
1. It is tangible. It is intangible.
It is very difficult to attain quality standards.
2. Quality standards can be attained.
3. It may be an asset sometimes,. e.g., fridge, It involves expenditure without any tangible return
television set, etc. benefit.
4. Physical possession is possible. Physical possession is not possible.
5. It can be stored. It cannot be stored.
6. It can be transported. It cannot be transported.
7. The producer and the seller may be different The producer of service is the seller too, e.g.,
persons. medical and legal services.
8. Assembling is very important. Assembling has no relevance at all.
Skill of the service provider is the deciding factor in
most cases, e.g., legal, catering and medical
9. Skill of the seller alone cannot determine sale. services.

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 Entrepreneurship 25

Production and distribution of service will have to

10. Production and distribution need not take place be done simultaneously, e.g., provision of
simultaneously. electricity.
11. Packing plays a crucial role in the marketing of It has no relevance in the marketing of service.
any product.
12. Both Brand name and Trade name are
important in the marketing of any product. Brand mark and Trade name are important in the
marketing of services.
13. Labelling is an integral part of marketing. It is
required as per law. It has no relevance.

Identifying and Meeting Customer Needs

Customer needs are the named and unnamed needs of customers when they come in contact
with the different business establishments or when they search for the solutions which businesses provide
(https://www.conductor.com/). In addition, providing superior customer service means meeting
customers’ needs by providing them with the products and services they want or by providing effective
solutions to their problems (https://simplifytraining.com/). Similarly, innovation comes from identifying
customers’ needs and providing solutions that meet those needs (Sauro,
J.).
Why “Identifying Customer Needs” Matters
(https://simplifytraining.com/)

1. Correctly identifying customers’ needs is essential for ensuring customer satisfaction and loyalty.
2. Customers have unique needs.
3. Often, customers either aren’t clear about what they need or they don’t really know what they
want.
4. Identifying clients’ needs creates satisfied customers, and satisfied customers are less likely to have
reason to enter into disputes with the organization or contemplate legal action.

Key Points (https://simplifytraining.com/)

1. To ensure customer satisfaction, entrepreneurs must correctly identify customers’ needs.

2. To identify needs, entrepreneurs must both listen and ask the right questions.
3. After identifying needs, always check for additional or related needs.
4. As an entrepreneur, use your knowledge and experience to identify and present the right products,
services, and solutions to meet your customers’ needs.

How to Meet the Needs of Customers (https://www.conductor.com/)

1. Identify what the customers need through keyword research, focus groups, or social listening.
2. Distribute the information to relevant stakeholders in the organization.
3. Craft product features or create content that speaks to the customer’s needs.
4. Collect customer feedback in order to meet their expectations.

Activity 1. To learn more about what community or customers’ needs are, product need assessment
survey is important. The results of the survey then guide future action. Generally, the needs that are rated
most important are the ones that get addressed.

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26 Entrepreneurship

As would-be entrepreneur, make 10 items customer product survey questionnaire.

Focus on the following guidelines:
1. Give a brief description about the product.
2. Give directions as to how the customers will answer the questionnaire.
3. The statement should be in a question form.
4. Use a 4 point likert scale, 4 as the highest and 1 as the lowest e.g. 4 – very positive, 3 – somewhat
positive, 2 somewhat negative, 1 very negative. You may use other rating scale.
5. The questions should focus on:
a. Reaction about the product/service
b. Characteristics/features of the product/service
c. Product innovation
d. If the product/service will meet the customer’s need
e. The value of the product/service
f. If the customer will buy the product once it is available in the market
g. If they will recommend the product to their friends
h. If they will replace their existing product once your product is available in the market
i. The features/characteristics they like about the product
j. Suggestions to improve the product/service

Activity 2. MAKE MEANING- INTERNET ASSSISTED

ACTIVITY

DIRECTIONS: Give the meaning of the following word/phrase in each item. You may use the internet to
help you define the given word/phrase. Write your answer in the activity notebook.
1. Consumption 6. Customer feedback
2. Acquisition 7. Stakeholders
3. Customer loyalty 8. Expenditures
4. Customer satisfaction 9. Tangible
5. Customer service 10. Intangible

CHECK YOUR UNDERSTANDING

DIRECTIONS: Read and analyze the statements below about “Product or Service”. Determine
whether the statement is TRUE OR FALSE. Write TRUE if the statement is correct and write
FALSE if otherwise. Write your answer in the space provided.

____________1. Products do not carry an element of service.

____________2. A service is the result of the application of skills and expertise towards an identified
need.
____________3. A service isn't something you can try out before you pay for it.
____________4. All products are countable, touchable, and visible, a consumer can assess its
durability by examining it.
____________5. Products are tangible and discernible items that the organization produces.
____________6. Products and services can both be perishable.
____________7. Service is associated with physical items.
____________8. A product is an offering that derives value from intangible elements.
____________9. A product may be capable of being reused for a certain time.
____________10. Service has no connection with the sale of products.

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 Entrepreneurship 27

POST-TEST:

Criss Cross Puzzle. Read and analyze the clues below and write the correct word on the blocks
across and down.
Products or services that will meet the need Across
2 - measures how well the expectations of a customer concerning a product or service provided by a
company have been met.
4 - taking possession of an asset by purchase.
7 - is a party that has an interest in a company and can either affect or be affected by the business.
9 - the amount of something that people and other entities use.
10 - is information provided by clients about whether they are satisfied or dissatisfied with a
product or service.

Down
1- funds used by a business to attain new assets, improve existing ones, or reduce a liability.
3 - unable to be touched or grasped; not having physical presence.
5 - indicates the extent to which customers are devoted to a company’s products or services.
6 - meeting the needs and desires of any customer.
8 - capable of being perceived especially by the sense of touch

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28 Entrepreneurship

MATCHING TYPE. Column A contains list of products and Column B contains list of services. Match
as to which service in Column B is related to the product in Column A. Write the letter of your answer
in your activity notebook.
Answer Column A: Products Column B: Services
1. Car A. Usability and durability
2. Xerox machine B. Repairs and maintenance
3. Smart phone C. Leasing or pay per copy
4. Credit card D. Entertainment
5. Organic products E. Consistent quality
6. Television F. Bills payment
7. Accessories G. Healthy lifestyle
8. Books H. Boost immune system
9. Vitamins I. Accuracy of information
10. Basic goods J. Fashionable designs

REFLECTIVE LEARNING
To succeed as an entrepreneur, you must develop the ability to select and offer the right products
or services to your customers in a competitive market. More than any other factor, your ability to make
this choice will determine your success or failure (Tracy, B., 2015).
There are thousands of products and services available to consumers today. And there are
unlimited opportunities for you to enter the marketplace and compete effectively with a new product or
service that's better in some way than what's already being offered by your competitors. Remember, your
skill at choosing that product or service is critical to your success (Tracy, B., 2015).
Once you've got a product or service in mind, you need to begin with a selfanalysis (Tracy, B.,
2015):
• What kinds of products do you like, enjoy, consume and benefit from?
• Do you like the product or service you're planning to sell?
• Can you see yourself getting excited about this product or service?
• Would you buy it and use it yourself?
• Would you sell it to your mother, your best friend, your next-door neighbor?
As would-be Entrepreneur, you are tasked to identify at least 3 products or services which can
be related to your dreamed business. Focus on how you will meet the needs of your target market
especially in this time of COVID – 19 Pandemic. In each product or service give at least 3 reasons why
you are proposing these products or services. Write your answer in your activity notebook.

PRODUCT/SERVICE REASON OF CHOOSING THE PRODUCT/SERVICE

1. 1.
2.
3.
2. 1.
2.
3.
3. 1.
2.
3.

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 Entrepreneurship 29

Answer Key –
module 1

What I Know
KWL Chart
Topic Know Want to know
• Entrepreneurship is the act of What is the difference of
Concept of creating a business to get a Entrepreneurship and
Entrepreneurship profit. Entrepreneur?
• Entrepreneurship is an What is the
important driver of economic contribution of
growth and innovation. entrepreneurship to the
• Entrepreneurship is high-risk, society? What are the
but it serves to generate characteristics of
economic wealth, growth, and entrepreneurs? How
innovation. Entrepreneurship
• Entrepreneurship impact the started in the
economy Philippines?
• Entrepreneurship help What is
economies. Entrepreneurship?
• Entrepreneurship add to the
gross national income
• Entrepreneurship create social
change
• Entrepreneurship play a key
role in any economy.

Relevance of 1. To prepare students for Why do we need to study

Entrepreneurship livelihood even before college. Entrepreneurship?
to your everyday 2. Entrepreneurship education Why Entrepreneurship
life aids students from all is offered in the Senior
socioeconomic backgrounds to High School?
think outside the box and How can we use
nurture unconventional talents Entrepreneurship in our
and skills. daily life?
3. Entrepreneurship develops
their initiative and helps them
to be more creative and
selfconfident in whatever they
undertake and to act in a
socially responsible way.
4. It exposes students to
numerous opportunities to
learn how to think critically and
analyze the pieces on the board.
5. Being aware of all
the

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30 Entrepreneurship

important factors and seeing

how they affect each other is the
foundation of a smart decision-
making process.
6. Students have to be exposed to
real-world examples and learn
from their own experience.
7. Entrepreneurship education
requires students to be
innovative, creative and
collaborative with others.
8. Entrepreneurship education
provides budding entrepreneurs
with the skills and knowledge to
come up with business ideas and
develop their own ventures.

What’s In
1. Entrepreneur
2. Entrepreneurship 3. Entrepreneur
4. Entrepreneurship
5. Entrepreneur
What’s New
1. H
2. E
3. B
4. A
5. J
6. I
7. C
8. D
9. F
10. G
What’s More
Independent Activity 1. Picture Analysis
1. Delivery Services like grab food
2. Online Selling of food products and hygiene products like soap, etc.
3. To make fashionable face masks
4. E-Loading services
5. Events hosting using app like zoom

Independent Activity 2. Enumeration

Items Answer
A. Land
1. Give the three (3)
B. Labor
business resources
C. Capital

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 Entrepreneurship 31

A. Entrepreneurship generates new wealth in an

economy.
B. Entrepreneurship decreases poverty.
C. It creates opportunities, ensures social justice,
2. Give three (3)
instills confidence and stimulates the economy. D.
importance of
Entrepreneurship to Entrepreneurship improves productivity
the economy. E. Entrepreneurs create jobs.
F. Entrepreneurs innovate.
G. Entrepreneurs create innovation and social change
H. Entrepreneurs give to society

3. Give three (3) A. To prepare students for livelihood even before

relevance of college.
Entrepreneurship to B. Entrepreneurship education aids students from all
the you as a student socioeconomic backgrounds to think outside the
box and nurture unconventional talents and skills.
C. Entrepreneurship develops their initiative and
helps them to be more creative and self-confident in
whatever they undertake and to act in a socially
responsible way.
D. It exposes students to numerous opportunities to
learn how to think critically and analyze the pieces
on the board.
E. Being aware of all the important factors and seeing
how they affect each other is the foundation of a
smart decision-making process.
F. Students have to be exposed to real-world examples
and learn from their own experience.
G. Entrepreneurship education requires students to be
innovative, creative and collaborative with others.
H. Entrepreneurship education provides budding
entrepreneurs with the skills and knowledge to
come up with business ideas and develop their own
ventures.

4. Give three (3) known Zobel family (Ayala), the Lopez clan, Lucio Tan,
families in the who Henry Sy, John Gokongwei, Alfonso Yuchengco,
owned the big Eduardo Cojuangco Jr., Jose Yao Campos (Unilab
Corporations in the Group of Companies), George Ty (Metrobank), Mariano
Philippines. Que (Mercury Drug), and Tony TanCaktiong (Jollibee).

5. Give three A. Innovative, Resourceful

characteristics of an B. Creative, Hardworking
Entrepreneur.
C. Critical Thinker, Risk Taker, etc

Assessment
1. C
2. C
3. A
4. C

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32 Entrepreneurship

5. B
Additional Activities
1. To gain profit and earn a living.
2. To fulfil my dream to become an entrepreneur.
3. To enhance my entrepreneurial skills.
4. To help the economy grow.
5. To provide employment for the Filipinos.
6. To increase supply of products and services.
7. To create social change.
8. To improve the quality of goods and services.
9. To improve the quality of life.
10. To prevent monopoly.

Lesson 3
ANSWER KEY
PRE-TEST

Competencies in Entrepreneurship Job opportunities for Entrepreneurship as a

career
1. Analyzing 1. Store owner
2. Decision making 2. Sales
3. Problem solving 3. Online seller
4. Collaborating 4. Food processing
5. Budgeting 5. Repair shop owner

LOOKING BACK TO YOUR LESSON

1. Competency – this refers to a possession of sufficient skill
2. Job Opportunity – refers to a good chance of employment
3. Enterprise – it is the undertaking of activities associated with the production, sale or
distribution of products or services.
4. Creative thinking - the process of thinking carefully about a subject or idea, without allowing
feelings or opinions to affect you
5. Managing Change - the planning and introducing of new processes, methods of working,
etc. in a company or organization

ACTIVITIES

Activity 1. True or False

1. True 6. False
2. False 7. False
3. True 4. 8. True
True 9. True
5. True 10. False

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 Entrepreneurship 33

Activity 2. Identification
1. Personal Competency 6. Business Competency
2, Business Competency 7. Personal Competency
3. Business Competency 8. Interpersonal Competency
4. Personal Competency 9. Interpersonal Competency
5. Interpersonal Competency 10. Personal Competency

Activity 3. Word search

Confident Innovative
Determined Competitive
Resourceful Risk Taking
Enterprising Hardworking
Creative Networking

Check your understanding

Competencies in Entrepreneurship
Personal Competencies:
1. Resilient
2. Self-reliant
Interpersonal Competencies:
3. Networking
4. Collaborating
Business Competencies
5. Business strategy
6. Product Innovation
Core Competencies:
7. Customer service
8. Managing staff
Common Competencies:
9. Ability to adapt to change
10. Good relationship with supervisors and co-workers
Job Opportunities for Entrepreneurship as a Career
Possible business venture:
11. Food processing
12. Merchandising
Possible full-time job:
13. Cash register
14. Store manager
Reasons why many would like to become an entrepreneur:
15. Self-fulfillment
16. Earn income/livelihood

Post – test

Identification Multiple Choice

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34 Entrepreneurship

1. A 6. A 1. B
2. B 7. B 2. A
3. B 8. B 3. D
4. A 9. A 4. B
5. B 10. A 5. D

LESSON 4

ANSWER KEY
PRE-TEST
Potential Market Market Need
1. Households 1. Facemasks
2. Workers 2. Vitamins
3. students 3. Wi-Fi/Laptop

LOOKING BACK TO YOUR LESSON

Multiple Choice.
1. B
2. C
3. D
4. A
5. B

ACTIVITIES

Activity 1. True or False

1. True
2. False
3. True 4. True
5. True

Activity 2. Identification

1. Prospects 6. Prospects
2. Existing customer 7. Existing customers
3. Target market users 8. Prospects
4. Existing customer 9. Target market users
5. Prospects 10. Prospects

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 Entrepreneurship 35

Activity 3. Make meaning

1. Customer vs. consumer - consumer is the one who consumes the goods, and
customer is a person who buys the goods or commodity and pays the price for it.
2. Demographic group - include the generations known as Generation Z, Millenials
(previously known as Generation Y), Generation X, baby boomers, etc.
3. Market share - represents the percentage of an industry, or a market's total sales that
is earned by a particular company over a specified time period.
4. Market size - The number of individuals in a certain market who are potential buyers
and/or sellers of a product or service.
5. Marketing strategies - refers to a business's overall game plan for reaching
prospective consumers and turning them into customers of the products or services the business
provides.

Check your understanding

Situations Rating Justification
To produce face masks 5 There is a high demand due to Covid 19 Pandemic.
and PPEs.
To open on-line business 3 Fashion accessories are not basic necessities.
for fashion accessories.

To open a massage 1 Due to the covid pandemic massage center is not

center. yet allowed to operate
To open a computer 3 Due to online classes this can have a high demand
shop. however due to social distancing it can have
limitations
To open a carinderia 3 Though this is a basic need, it may not be
profitable this time due to social distancing policy.

Post – test

1. Identification
1. Penetrated market
2. Available market
3. Potential market
4. Target market
5. Penetrated market

2. Matching Type
1. F
2. I
3. A
4. J

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36 Entrepreneurship

5. B
6. C
7. H
8. D
9. E 10. G

LESON 4

ANSWER KEY
PRE-TEST
1. A 2. C 3. C 4. A 5. D

LOOKING BACK TO YOUR LESSON True or

False
True 6. True
2. False 7. False
3. False 8. True
4. True 9. False
5. True 10. True

ACTIVITIES

Activity 1. Product survey questionnaire

Directions: Put a check mark on the box of your choice.

Statements 4 3 2 1
Very Somewhat Somewhat Very
Positive Positive Negative Negative
1. What is your reaction about the product?

2. What is your perception about the

characteristics/features of the product?

3. Do you think there is innovation made in

the product/service?
4. Do you consider the product/service a need
or not?

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 Entrepreneurship 37

5. Do you see any value of the

product/service?
6. If the product/service is available today,
will you buy the product/service?

7. If the product is available today, will you

replace the current product you are
using?
8. If the product is available today, will you
recommend to your friends or family
members?
9. What are the things that you like most about the new product? Give at least 3.

10. What are your suggestions to improve this new product? Give at least 3.

Activity 2. Make meaning

1. Consumption - the amount of something that people and other entities use.
2. Acquisition - taking possession of an asset by purchase.
3. Customer loyalty - indicates the extent to which customers are devoted to a company’s
products or services.
4. Customer satisfaction - measures how well the expectations of a customer concerning
a product or service provided by your company have been met.
5. Customer service - meeting the needs and desires of any customer.
6. Customer feedback - is information provided by clients about whether they are
satisfied or dissatisfied with a product or service.
7. Stakeholders - is a party that has an interest in a company and can either affect or be
affected by the business.
8. Expenditures - funds used by a business to attain new assets, improve existing ones, or
reduce a liability.
9. Tangible - capable of being perceived especially by the sense of touch
10. Intangible _ unable to be touched or grasped; not having physical presence.

CHECK YOUR UNDERSTANDING True or

False
1. F 6. T
2. T 7. F
3. T 8. F
4. F 9. T
5. T 10. F

POST – TEST

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38 Entrepreneurship

Criss-Cross Puzzle
Across Down
2 - Satisfaction. 4 - 1- Expenditure
Acquisition 3 - Intangible
7 - Stakeholders 5 - Loyalty 6 -
9 - Consumption Service
10 – Feedback 8 - Tangible

Matching Type
1. B 6. D
2. C 7. J
3. A 8. I
4. F 9. H
5. G 10. E

San Brendan College, Inc. –CBLM, Entrepreneurship developed by Jason V. Yara