QUARTER

1
This module was made possible with the assistance of the administration, faculty and the whole
learners of the Assumption College of Nabunturan - Senior High School Department.

MODULE Q1 : Entrepreneurship
LESSON 1 : Introduction to Entrepreneurship
TIME :
AUTHORS No: portion
Loraine Jane
of this B. Banares,
module LPT
may be copied or reproduced in books, pamphlets, outlines or
notes—whether printed, mimeographed, typewritten, photocopied, or in any form—for
distribution Benjie
or sale, F. Good,
without the LPT
written permission of the authors. The infringer shall be
persecuted in compliance with copyright, trademark, patent, and other pertinent laws.
 The learner demonstrates
CONTENT understanding of key concepts,
underlying principles, and core
competencies in Entrepreneurship.

Introduction
Relevance of the course

1
Key concepts and common MODULE Q1
competencies
Core competency on
Entrepreneurship
Entrepreneurship
Career opportunities PERFORMANCE STANDARD
INTRODUCTION TO
The learner independently
LESSON ENTREPRENEURSHIP
creates/provides a quality and
marketable product and/or service in
Entrepreneurship.

TIME: AUTHORS:
SSS
1SSS
hour and LORAINE JANE B. BANARES, LPT
30 minutes BENJIE F. GOOD, LPT

LEARNING COMPETENCIES:
The Learners…
1. Discuss the relevance of the
course;
2. Explain the concepts of
common competencies;
3. Explain the core
competencies in
entrepreneurship; and
4. Explore SSSSSS
job opportunities for
Entrepreneurship as career
INTRODUCTION:
In our country, most of the businesses are
coming from small scale or micro finance
business enterprises. One of the examples is the
sari-sari store, a sole proprietorship business that
can cater the needs of our community. Even the
gamers of DOTA sell their heroes in a high price.
When they perform risk taking ventures with their
money, time and effort, SSSIN
they can be considered as
entrepreneurs.
Entrepreneurship can be scary because
there is no guarantee that the business will work,
and the entrepreneur may end up losing money for
the first few years. The entrepreneur must be
willing to take the risk in any business venture
because of the many obstacles he might
encounter.
 The Entrepreneurial Perspective
Entrepreneurs take ideas and convert them into business ventures. What one requires to be an entrepreneur is
courage and passion. Anyone who wants to become an entrepreneur should consider the following:
 Why he/she wants to start his or her own business.
 How starting the business is likely to affect one’s personal life.
 The psychological and physical health preparedness needed, for example ability to work for long
hours without harming one’s health.
 Aspects of the business that one sees an obstacle to business success, for example having enough
capital, skills and qualified employees.

Activity 1
Individual Task (15 minutes)

For this activity, you will work on in your own. You will know the factors that might influence
people to start their open business.
1. Make a list of at least 7 factors that you believe motivate entrepreneurs to start up new
businesses.
2. Then consider if you are motivated by any of these factors.
3. Use this check list to determine your readiness to start a new venture.

# CONSIDER YE NO
S
1 Will starting a business impact on your personal life and family members?
2 Will working long and irregular hours impact on your health?
3 Do you have mental tenacity to work long and irregular hours?
4 Do you have sufficient capital to start on a limited scale?
5 Do you have sufficient knowledge about the business to start a new venture?
6 Do you have sufficient skills to start this new venture?
7 Are there sufficient numbers of skilled people, potential staff, to support you?

Adapted from Entrepreneurship Lesson 1:

Development of Entrepreneurial Mind Set
 What is Entrepreneurship?

Entrepreneurship has traditionally been defined as the process of designing, launching and running a new
business, which typically begin as small business, such as a start-up company, offering a product, process or
service for sale or hire. It has been defined as the capacity and willingness to develop, organize and manage
a business venture along with any of its risk in order to make a profit.

Activity 2
Graphic Organizing

After knowing the different perspectives and concerns of entrepreneurship, you will give their own
BUSINESS
insights about the four essentials about the word “Business”. Two sentences will do in filling these
boxes.

SUPPLY
CAPITAL
What do you think is the importance of entrepreneurship in the lives of people?

HUMAN CAPITAL

PROFIT
Types of Small Business Enterprise
1. MANUFACTURING FIRMS: A manufacturing firm is classed as small if it has 250 employees or
less. Manufactures get raw materials and change them into finished goods for sale.
2. SERVICES: A service firm provides services for customers, and types of service firms including
hotels, barber and beauty shops, all types of repair shops, plumbers and electricians.
3. WHOLESALING: Wholesalers buy and resell merchandise in significant amounts to final
consumers.
4. RESEARCH & DEVELOPMENT: Firms engage in developing newer methods, techniques of
production, sales and software system can serve others who are in need of those.
5. CONSULTING: Consultancy services with regard to efficient management, project appraisal,
raising sources of finance, methods of reducing risk, technical and engineering services etc. are
provided through these types of firms.
6. RETAILING: A retail business is one that buys goods from suppliers and sells them to customers.
Typical kinds of retail are food stores, clothing stores, drugstores.

Activity 3
Illustrate your Business!

As you unfold the types of small business enterprise, it is your time to unleash the creativity in you! In
this activity, you will draw the establishment of the business that you will venture in the future. (Take
note that you can choose any of the types of small business enterprise above and please put the
information of choosing such business.)

__________________________________________________________________________________
__________________________________________________________________________________

Name of your Business: __________________________________________________

Search for Business Ideas
As a novice entrepreneur, there are a lot of things that you should know and practice before engaging in
a real business. Many have tried, but they failed at the end of the day. What do you think is the main
reason? Can someone really handle a business? Are you ready to risk everything in the business world.?
In this lesson you will know some ideas to become a successful entrepreneur.
1. UNDERSTANDING YOUR CUSTOMER- This might seem strange to start here as how do
you know your customers before have a business idea in a place. The answer is simple – your
customers make the business, therefore, without customers there is no business. Always think
what your customers actually desire in the first place. Are you ready to know them all?
2. PASSION- Passion here does not mean being fanatical about your product or service. Rather, it
means having some interest in what you do. If you end up starting a venture that you don’t have
passion for, something does not make you enjoy doing, it will be very hard to put hours and
energy to make it successful. Thus, it is not a perfect business idea. Do you have that fire in you
to pursue a business?
3. UNDERSTAND YOUR COMPETITION – Competitors are ruthless. Meaning, that if you
promote and offer product that has similar to theirs but at lower price, these competitors will just
lower their price to match or beat you. If they are already established businesses- they may be
able to undercut your price enough to drive you out of business. Are you ready to face your
competitor?
4. CASH FLOW- Lots of entrepreneur enter the business world with great ideas but very poor in
understanding of the capital it will take to get their venture off the ground. Knowing your total
cash flow will help ensure that all of your costs (variable and fixed) can be covered by business-
perfect business idea. Many businesses with great products fail because they could not cover
simple expenses like rentals or utilities. Know where your money is!
5. YOU- Know who you are. Know your strengths and weaknesses. Know that you are ready,
willing and able to do what it takes to make your venture a success. Many business owners
thought that all they have to do was to hang out their shingle and they can become successful.
Thus, it boils to actually running the business day-day. Know yourself first!

Strategize Planning for Small Business

1. Articulate Your Vision – Your Purpose, Mission & Core Values- creating, articulating and
sticking to your vision is the single most important job you have as a leader. A clear vision is
needed to guide your strategic planning process. Have you ever asked yourself, “What is the
purpose of my business?” if not, sit down right now and figure it out.
2. Understand How Strategy Drives the Plan- when you take the time to define the why and how
of your business, you’re ready to identify strategies to achieve your mission. To determine what
those strategies should be, examine the company’s strength that you can employ to achieve a
strong return on your investments.
3. Link your Vision to the Annual and Quarterly Priorities- It can sometimes be a challenge to
bridge the gap between one’s long-term vision and daily operations. The structure used to bridge
this gap is called “Strategy Planning Methodology.” It breaks down our current mission into the
annual and quarterly priorities we need to complete in order to achieve our mission.
The work of the quarterly priorities then gets broken down into SMART (Specific, Measurable,
Achievable, Relevant and Time-Bound) objectives that are owned by employees and have deliverables.
4. Establish a Rhythm for Success- strategic planning isn’t one-time event. Once you’ve laid out your
strategy, it’s crucial to stay focused over the long term. Always schedule a steady rhythm of productive
meetings—this is vital. Make an investment of regular meetings and you’ll get the best thing to help you
succeed—confidence.
Marketing the Small Business

 Get the Know- How. Knowing what not to do when it comes to marketing is as important as
knowing what to do. Let’s face it. The murky world of marketing can be trick to navigate. So get
the full know-how before you go plunging into the mainstream of any business activity.
 Put your customer first. Understanding who your customers are, what makes them tick and what
they really want and value. And of course, staying in touch with them long after the sale, puts you
ahead of the competition.
 Know your target market. Targeting your target marketing activities fairly and squarely at the
people who need and want your service or product is the secret in creating quality enquiries and
getting to open their wallet.
 Understand that marketing is not advertising. Don’t make the mistake of thinking that
advertising and creating websites are the only two ways to attract more business. You can market
your small business in literally hundreds of ways. So, it pays to know what they are and then
eliminate the ones that won’t work, or that you can’t afford, up-front.
 Set sales goals and targets. Marketing really is a number game. Marketing efforts that won’t
directly or indirectly bring in new business have absolutely no point. Know what your goals are in
terms of revenue, expenses, profit, and number of enquiries and, of course, number of new sales.
 Get a handle on the four Ps of marketing. Getting your product, pricing, placement strategy
(distribution) and promotional strategy humming along and working together is crucial to good
marketing.

In order for you to become a successful entrepreneur in the future, always rely on your capabilities and
skills, know what you can do, work collaboratively and face your failures. Every entrepreneur has its own
story about their successful business and start creating your business TODAY.

The way Bill Gates singlehandedly revolutionized the use of computers is an excellent
example of ingenuity and entrepreneurship. This concretely tells us that to be an
entrepreneur, one must be creative, innovative and willingly to expand his investment.
The entrepreneur must also learn how to use technology to the advantage of his
business.
 Activity 3

Illustrate your Business!

As you unfold the types of small business enterprise, it is your time to unleash the creativity in you! In
this activity, you will draw the establishment of the business that you will venture in the future. (Take
note that you can choose any of the types of small business enterprise above and please put the
information of choosing such business.)