ENTREPRENEURSHIP

By: Ms. Chinette Bert G. Cabillan

 Lesson 1

INTRODUCTION TO
ENTREPRENEURSHIP
 WHAT I NEED TO KNOW?
• Businesses are the backbone of the economy. Entrepreneurs play an important role in
developing the economy through providing the needed products and services including the
solution to the problem of unemployment. Entrepreneurship is encouraged by the economy
because it can provide a lot of opportunities for the unemployed people. It will increase per
capita income, improve standard of living and increase individual savings, provide revenue
to the government in the form of income tax, value added tax, export duties, import duties,
and balanced regional development
 AFTER READING THIS MODULE, THE LEARNERS
SHOULD BE ABLE TO:

1. discuss the relevance of the course;

2. explain the key concepts of common competencies;
3. explain the core competencies in Entrepreneurship; and
4. explore job opportunities for Entrepreneurship as a career.
 WHAT I KNOW?

Let us see what you already know about Entrepreneurship. Answer the questions that follow.

Instruction: Read the statements carefully then answer True if the statement is correct & write
False if you think the statement is not correct.
1. ENTREPRENEUR
MEANS “TO
UNDERTAKE.”
2. ENTREPRENEURSHIP IS A PROCESS OF
ACTIONS OF AN ENTREPRENEUR WHO IS
ALWAYS IN SEARCH OF OPPORTUNITIES.
3. THE GREATEST
SIGNIFICANCE OF
ENTREPRENEURSHIP IS TO
HELP IDENTIFY AND DEVELOP
THE MANAGERIAL
CAPABILITIES OF
ENTREPRENEURS.
4. ENTREPRENEURSHIP WILL
LEAD TO THE CREATION OF
ORGANIZATIONS.
5. ENTREPRENEURSHIP CAN
IMPROVE THE LIFE OF THE
ENTREPRENEUR ONLY.
6. COWARD PEOPLE WILL
BECOME SUCCESSFUL
ENTREPRENEURS.
7. AN ENTREPRENEUR IS A
“RISK TAKER”.
8. ENTREPRENEURSHIP IS NOT
AN ECONOMIC ACTIVITY
9. ENTREPRENEURS ARE
INNOVATIVE.
10. AN ENTREPRENEUR CAN
ALSO BECOME A SALESMAN.
 ACTIVITY

• Give at least five (5) names of entrepreneurs that you know, may it be from your locality or
within the Philippines. Identify what are their common traits as entrepreneurs. Write it in a
clean piece of paper.
 EXPLAIN
• 1. What characteristics can you observe or see that are common among the entrepreneurs
that you have listed?

• 2. Who among the entrepreneurs that you mentioned do you admire the most and why?

• 3. In your own opinion, what do you need to possess to become a successful entrepreneur?
 RELEVANCE OF ENTREPRENEURSHIP
TO AN ORGANIZATION
1. Development of Managerial Capabilities - this means that one of the benefits an entrepreneur
gets is to develop his managerial skills.

2. Creation of Organizations - which means that because of entrepreneurship many organizations

will exist.

3. Improving Standard of Living - this means that entrepreneurship can lift up the economic
status of an individual.

4. Means of Economic Development - this means that not only the life of the entrepreneur is
improved but also the society where the business is located.
CONCEPT OF ENTREPRENEURSHIP
The word “entrepreneur” was derived from the French
verb enterprendre, which means “to undertake.” This is
pinpointing to those who “undertake” the risk of
enterprise. The enterprise is created by an entrepreneur
and the process is called “Entrepreneurship.”

Entrepreneurs are innovators. They are willing to take

the risks and generate unique ideas that can provide
profitable solutions to the needs of the market and the
society.
 FACTORS AFFECTING
ENTREPRENEURSHIP
1. Personality Factors which include:
a. Initiative - doing things even before being told.
b. Proactive - which means he can classify opportunities and seize it
c. Problem Solver - which means he can retain good relations with other people.
d. Perseverance - meaning he will pursue things to get done regardless of challenges.
e. Persuasion - means that he can entice people to buy even if they don’t want to.
f. A Planner - he makes plans before doing things and does not fail to monitor it.
g. Risk-taker - which means that he is willing to gamble but he will calculate it first.
 FACTORS AFFECTING
ENTREPRENEURSHIP

2. Environmental Factors which include :

political, climate, legal system, economic and social conditions and market situations.
 COMMON COMPETENCIES IN
ENTREPRENEURSHIP
• 1. Decisive - an entrepreneur must be firm in making decisions.
• 2. Communicator - an entrepreneur must have a convincing power.
• 3. Leader - an entrepreneur must have the charisma to be obeyed by his employees.
• 4. Opportunity seeker - an entrepreneur must have the ability to be the first to see business
chances.
• 5. Proactive – an entrepreneur can control a situation by making things happen or by
preparing for possible future problems.
• 6. Risk Taker – an entrepreneur has the courage to pursue business ideas.
• 7. Innovative - the entrepreneur has big business ideas and he does not stop improving and
thinking of new worthwhile ideas for his business
 CORE COMPETENCIES IN
ENTREPRENEURSHIP
1. Economic and Dynamic Activity - Entrepreneurship is an economic activity
because it involves the creation and operation of an enterprise with a view to
creating value or wealth by ensuring optimum utilization of limited resources.
2. Innovative – The entrepreneur constantly looks for new ideas, thus he needs to
be creative.
3. Profit Potential - The entrepreneur can be compensated by his profit coming
from the operation.
4. Risk bearing – The entrepreneur needs to gamble but wise enough to offset the risk.
 TYPES OF ENTREPRENEURS
1. Innovative Entrepreneurs - They are those who always make new things by thinking of
new ideas. They have the ability to think newer, better and more economical ideas.
2. Imitating Entrepreneurs - They are those who don’t create new things but only follow the
ideas of other entrepreneurs.
3. Fabian Entrepreneurs - They are skeptical about changes to be made in the organization.
They don’t initiate but follow only after they are satisfied.
4. Drone Entrepreneurs - They are those who live on the labor of others. They are die-hard
conservatives even ready to suffer the loss of business.
5. Social Entrepreneurs - They are those who initiate changes and drive social innovation and
transformation in the various fields such as education, health, human rights, environment and
enterprise development.
 CAREER OPPORTUNITIES OF
ENTREPRENEURSHIP
1. Business Consultant - with the expertise of in the field of entrepreneurship, he can be a
very good source of advices to other entrepreneurs and would be business men.
2. Teacher - a graduate of an entrepreneurship can use his knowledge in teaching.
3. Researcher - the entrepreneur can be employed as a researcher by an enterprise.
4. Sales - the entrepreneurship graduate can apply as a salesman.
5. Business Reporter - the entrepreneur being expert in the field, can be employed as a
business reporter.
 SELF ASSESSMENT
• Direction: Find out if you have the qualities of an entrepreneur.
Qualities Yes No
Risk taker
Communicator
Leader
Opportunity Seeker
Proactive
Innovator
Decisive
Interpretation

IF YOU HAVE MORE YES THAN NO, YOU HAVE THE

QUALITIES OF AN ENTREPRENEUR.
NOW, THAT YOU ARE FINISHED ACCOMPLISHING THE MODULE,
LET US CHECK WHAT YOU HAVE LEARNED. ANSWER THE
QUESTIONS GIVEN BY ENCIRCLING THE LETTER OF THE
CORRECT ANSWER.
 1. THE ENTREPRENEURS WHO CREATE
NEW IDEAS ARE CALLED ______________.

a. Innovative b. Imitating
c. Fabian d. Drone
2. THE ENTREPRENEUR WHO LIVES ON THE
LABOR OF OTHERS IS CALLED __________.

a. Drone b. Fabian
c. Imitating d. Innovative
3. THESE ARE ENTREPRENEURS WHO ARE TO FOLLOW
THE PATH SHOWN BY INNOVATIVE ENTREPRENEURS

a. Innovative b. Imitating
c. Social Entrepreneurs d. Fabian
4. WHICH OF THE FOLLOWING DOES NOT
BELONG TO THE GROUP?

a. Skills management c. Conduct research

b. Risk taking d. Make no changes
with his product
5. ENTREPRENEUR MEANS:

a. Risk taker b. To undertake

c. To research d. To improve standard of
living
6. IT IS A PERSONALITY FACTOR WHICH MEANS
“DOING THINGS EVEN BEFORE BEING TOLD.”

a. Proactive b. perseverance
c. persuasion d. initiative
 7. IT IS A PERSONALITY FACTOR WHICH MEANS
CONVINCING CUSTOMERS TO BUY THE PRODUCT.

a. Proactive b. Persuasion
c. Self-confidence d. Risk-taker
8. WHICH OF THE CHOICES IS NOT PART
OF THE ENVIRONMENTAL FACTORS?

a. Political b. Weather condition

c. Climate d. Family background of
the manager
9. ALL EXCEPT ONE DOES NOT BELONG
TO THE GROUP. WHICH ONE IS IT?

a. Unfair trade practices b. Strikes

c. Political protest d. Product
10. THE ENTREPRENEUR WHO IS SKEPTICAL ABOUT
THE CHANGES IN THE COMPANY IS CALLED

a. Fabian b. Social Entrepreneurs

c. Drone d. Imitating
CONGRATULATIONS! 
You have successfully completed Module 1. Please proceed to Module 2 and learn about
Recognizing a Potential Market.