MODULE 10

ENTREPRENEURSHIP

Learning outcome
At the end of the lesson, the students can:
Create a concept map tracing the beginning of entrepreneurship and its development

Objective:
1. Differentiate entrepreneur and entrepreneurship
2. Enumerate the traits of a successful entrepreneur
Concept

CONCEPT

WHAT IS ENTREPRENEURSHIP?

Entrepreneurship is the act of creating a business or businesses while bearing all the
risks with the hope of making a profit.
But as a basic definition, that one is a bit limiting. The more modern entrepreneurship
definition is also about transforming the world by solving big problems like bringing about
social change or creating an innovative product that challenges the status quo of how we
live our lives on a daily basis.

The Beginnings of Entrepreneurship

Believe it or not, the first entrepreneurs can be traced back to nearly 20,000 years ago.
The first known trading between humans took place in New Guinea around 17,000 BCE,
where locals would exchange obsidian (a volcanic glass prized for its use in hunting
tools) for other needed goods – like tools, skins, and food.

This early type of entrepreneurship continued for millennia. Hunter-gatherer tribes would
trade goods from different parts of their respective regions to provide an overall benefit
for their tribe.

Since the beginnings of history, entrepreneurship has always been ruled by the market
forces known as supply and demand. Early entrepreneurs in the Agricultural Revolution
met the needs of farmers by providing them with tools and shelter. In exchange, they
received food that could feed their families.

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As years went by, the means of entrepreneurship changed dramatically but the core
reasons for entrepreneurship remained the same. Everywhere in the world,
entrepreneurs arose to address demand by providing supply. They innovated and
invented new technologies to solve problems that nobody had ever solved before.

At the same time, competition has ensured that the entrepreneur’s self-interest doesn’t
cause an overall negative impact on society. Competition prevents entrepreneurs from
overcharging for goods or underpaying employees, for example.

Importance of entrepreneurship

Entrepreneurs create jobs: Without entrepreneurs, jobs wouldn’t exist. Entrepreneurs

take on the risk of employing themselves. Their ambition to grow their business
eventually leads to the creation of new jobs. As their business continues to grow, even
more jobs are created.
Entrepreneurs innovate: Some of the greatest technologies in today’s society have come
from businesses. Technological advances come from a need to solve problems, create
efficiencies, or improve the world. In periods where there’s more advancement in
technology, there’s usually an entrepreneur to thank for it.

Entrepreneurs create change: Entrepreneurs dream big—many aim to make the world
better with their products, ideas, or businesses. So naturally, some of their ideas will
make a worldwide change. They might create a new product that solves a burning
problem or takes on the challenge of exploring something never explored before.
Entrepreneurs give to society: While some have a notion of the rich being evil and
greedy, they often do more for the greater good than the average person. They make
more money and thus pay more taxes, which helps fund social services. Entrepreneurs
are some of the biggest donors to charities and nonprofits for various causes. Some
seek to invest their money in creating solutions to help poorer communities have access
to things we take for granted, like clean drinking water and good health care.

Entrepreneurs add to national income: Entrepreneurship generates new wealth in an

economy. New ideas and improved products or services from entrepreneurs allow for
the growth of new markets and new wealth.

Creation of Enterprise
Entrepreneurship is a process that refers to the creation and running of a new
enterprise. It is an activity under which a person called an entrepreneur starts a new
venture using a new idea.
Economic Activity
Entrepreneurship is an economic activity as it involves creating and running a new
business through optimum utilization of all combined resources. It ensures that all scarce
resources are efficiently used for deriving better returns in the form of profit.
Innovation and Creativity

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It is the process of discovering new ideas and concepts and implementing them in
business ventures. Entrepreneurship involves bringing innovation in the market by
introducing new products or process that delivers better service.

Risk Bearing
It is an activity which involves huge risk which every entrepreneur needs to undertake for
starting a venture. New ideas developed and implemented by the entrepreneur are
uncertain and may result in losses.

Profit
Profit earning is the sole objective of an entrepreneur for undertaking risk. Entrepreneurs
start a new venture with a view to earning profits.

Gap Filling
Entrepreneurship is a process of recognizing and filling the gap between customer
needs and available products or services. It focuses on removing the deficiencies from
the currently available products to fulfill the needs of customers.

Organizing Function
It is an organizing function that brings together different factors of production like land,
labor, and capital. Entrepreneurship is concerned with coordinating and managing all
resources engaged within the enterprise.

Socio-economic benefits from entrepreneurship

 Promotes self-help and employment

 Mobilizes capital
 Provides taxes to the economy
 Empowers individual
 Enhances national identity and pride
 Enhances competitive consciousness
 Improves quality of life
 Enhances equitable distribution of wealth and income

Entrepreneurs are opportunity finder who sees a need, assesses the situation,
ventures a risk that fulfill that need and makes a profit.
He is an innovator who creates new products and services.
Entrepreneurs are facilitators of enterprise productivity, pushing sales and profits to
higher levels with the application of ingenious scheme and strategies.
Ten Most Important Entrepreneurial Traits (William Bygrave)

1. Self-awareness
2. Self-motivation
3. Courage

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 4. Confidence
5. Patience
6. Decisiveness
7. Experience
8. Knowledge
9. Perseverance
10. Drive

Advantages of becoming an entrepreneur

 Opportunity to gain control over one’s own destiny

 Opportunity to reach one’s own full potential
 Opportunity to benefit financially
 Opportunity to contribute to society and be recognized for one’s effort

Drawback of being an entrepreneur

1. Uncertainty of income
2. Risk of losing the entire invested capital
3. Long hours and hard work
4. Lower quality of life until business gets established
5. Complete responsibility
Environmental aspects of entrepreneurship
a) Social aspects- refer to how people and group to each other
b) Economic aspects- competition in the business is here to stay and change is a
part of this
c) Legal, political and ethical aspects
d) Technological aspects

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CONGRATULATIONS! YOU ARE ALMOST DONE WITH THIS MODULE AFTER YOU
HAVE COMPLETED THIS…

Activity 11
1. What is entrepreneur and entrepreneurship? (5 pts.)

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2. What traits should a successful entrepreneur possess? (10 pts.)

Traits of a successful entrepreneur

3. How did entrepreneurship started and developed? (15 pts.)

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Reflection

Write an essay about this, “Who makes a successful entrepreneur, men or women and
why?” (200 words only)

REFERENCES

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Analiza L. Falculan, C. F. (2011). Manual for National Service Training Program (NSTP)
with revised edition.

Forida C. Labuguen, R. B. (n.d.). National Service Training Program Phase 1 Student's

Guide.

PPT- Self Awareness and Filipino Values PowerPoint Presentation. (n.d.). Retrieved
from Google: www.slideserve.com>tosca>self-a...

Ricafrente, J. M. (2019). NATIONAL SERVICE TRAINING PROGRAM [MAPÚA-NSTP]

PROGRAM MODULE.

Self Awareness and Values Development-Docsity. (n.d.). Retrieved from Google:

www.docsity.com>self-awareness-a...

Chapter 2 Health Education - ppt download - SlidePlayer. (n.d.). Retrieved from

slideplayer.com>slide

national service training program- Palawan State UNiversity. (n.d.). Retrieved from
Google: psu.palawan.edu.ph>docs

https://www.oberlo.com/blog/what-is-entrepreneurship

https://www.jstor.org/stable/10.7312/carl17304

https://transformance.biz/portfolio/4-roles-of-leadership
https://managementstudyguide.com/leadership-management.htm© 2020 The PE Project
https://managementstudyguide.com/leadership-management.htm

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ATTACHMENTS

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 GUIDELINES IN THE CONDUCT OF NSTP-CWTS/LTS
CLASSES
NSTP Guidelines for School Year 2020-2021: Steering to New Normal

RATIONALE

COVID 19 pandemic has caused tremendously people around the world

particularly on economic and health conditions. In support to the implementation
of Section 12 of Republic Act No. 9163 otherwise known as the National Service
training Program (NSTP) Act of 2001 and in accordance with pertinent provisions
of Republic Act (RA) No. 7722, otherwise known as the Higher Educational Act of
1994 and in the implementation of Section 38 and 39 of Republic Act No. 7077,
Reserve Officers Training Corps (ROTC) and the CHED-DOH joint Memorandum
Circular on the guidelines of reopening of Higher Education Institution, the
following guidelines for the first semester SY 2020-2021 are hereby stipulated
and adopted. RSU- NSTP shall efficiently pursue strict compliance to the health
protocols and warrants student safety and welfare by keeping them fully aware of
the recontextualized educational scheme. RSU-NSTP shall conform to the
minimum health standard set by the IATF and other policies formulated by the
local government units. The flexible learning modality shall now be implemented
in the University as an innovative strategy to teaching and learning alike. The
mode of learning shall be blended. Therefore, being the implementer of the
program, it is deemed right and proper that students enrolled must be informed of
the recent learning modalities.

STUDENT’S ENROLLMENT

1. Student enrollment shall be done in on-line or in Land-Based enrollment

system directly administered by the host college indicating preference

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 among the pre-options provided. The college shall submit the enrollment
report to the NSTP office classifying student interest among the options.
All forms shall be provided by the NSTP office to be filled out by the
student during the enrollment. However, for the on-line enrollment, the
NSTP registration form shall be sent to the students via email, messenger,
text, and other forms of mass media.
2. Republic Act 9163 mandates that all in-coming first year student shall
enroll NSTP at their own preference except Criminology students to strictly
enroll ROTC by virtue of the nature of the program that leads into
military/police profession.
3. The NSTP office shall provide faculty-trainer with utmost expertise in the
implementation of the program.
4. Students shall have a greater height clustered accordingly by college as
well as the faculty shall be coming from the host college to ease its
operation and to promote a greater heights of camaraderie and
acquaintances and to boost moral virtues and attitudes of students. For
colleges which have more number of clusters, trainers from different
colleges shall be assigned to accommodate the clusters.
5. The campuses-the campus director shall designate coordinator to be
responsible on the operation and management of the programs, likewise;
administration of enrollment shall be spearheaded by the coordinator and
submitted to the main office for consolidation and submission to the
CHED-RO. All instructional materials in the form of modules shall be
provided by the NSTP office for students who do not have strong access
in the internet and whose parents do not allow them to travel, while for
students who have strong internet connectivity a soft copy shall be sent to
students who shall be identified by the trainers in the respective clusters.

GRADING SYSTEM
1. Activity/Output---------------------40%
2. Attendance-------------------------25%

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 3. Project-------------------------------35%

ASSESSMENT SCHEME
Outputs shall be assesses/evaluated based on the following criteria:

Criteria Indicator Total

Conceptualization The learning experience
being reflected upon is
30% relevant and meaningful to
student and course learning
goals. The reflection
demonstrates connections
between the experience and
material from other courses;
past experience; and/or
personal goals.
Coherence/Clarity The language is clear and
30% expressive. The reader can
create a mental picture of
the situation being
described. Abstract
concepts are explained
accurately. Explanation of
concepts makes sense to
an uninformed reader.
Content The reflection demonstrates
(Depth of ability of the student to
Knowledge/Substance) question their own biases,
40% stereotypes,
preconceptions, and/or
assumptions and define
new modes of thinking as a
result.
TOTAL – 100%

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Note:
The weights given in each criteria shall be used in all modules

MODULE PERCENTAGE
Introductory Module 5%
Module 1 10%
Module 2 10%
Module 3 10%
Module 4 10%
Module 5 10%
Module 6 10%
Module 7 10%
Module 8 5%
Module 9 10%
Module 10 10%
Total 100%

COMPUTATION FOR THE FINAL GRADE

Ave. Grade for Modules x 60%, plus 25% (attendance), plus 35% (project)= FG for
NSTP 1
Example:
Modules Project Attendance Total
93.5 x .40 = 56.1 95 x .35= 98 x .25= FG (NSTP)

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