SHS

Entrepreneurship
Module 1: Quarter 0 – Week 1
Entrepreurship
Grade 12 Module 1: Quarter 0 - Week 1
First Edition, 2020

Copyright © 2020
La Union Schools Division
Region I

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

Development Team of the Module

Author: Hayde B. Casision, T-I

Editor: SDO La Union, Learning Resource Quality Assurance Team
Illustrator: Ernesto F. Ramos Jr., P II

Management Team:

ATTY. Donato D. Balderas, Jr.

Schools Division Superintendent
Vivian Luz S. Pagatpatan, Ph.D
Assistant Schools Division Superintendent
German E. Flora, Ph.D, CID Chief
Virgilio C. Boado, Ph.D, EPS in Charge of LRMS
Mario B. Paneda, Ed.D, EPS in Charge of Araling Panlipunan

Michael Jason D. Morales, PDO II

Claire P. Toluyen, Librarian II
 Entrepreurship
Module 1: Quarter 0 - Week 7
 Target

Entrepreneurship has an enormous impact on the economy and in the society.

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

The lesson deals with the definition of entrepreneurs and entrepreneurship

and discusses the relevance of entrepreneurship in the economic development and
society.

After going through this module, you are expected to:

1. Define entrepreneurs and entrepreneurship; and

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

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 Jumpstart

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

Have fun and good luck!

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

Activity 1: Read me Understand me!

Direction: Read and understand the definition of entrepreneurs and

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

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

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

Below are few important characteristics of a good entrepreneur:

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

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

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

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

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

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

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

frequently. When you own a business, you should face your challenges and cope with
changes. Capitalize on positive changes to make your business grow.

Creative: An entrepreneur should be creative and innovative to stay in the business

and in order to have an edge over the other competitors.

Has the initiative: An entrepreneur takes the initiative. You must put yourself in a
position where you are responsible for the failure or success of your business.

Profit- oriented: An entrepreneur enters into the world of business to generate profit
or additional income. This shall become the bread and butter for you and for your
family as well. Therefore, you must see to it that the business can generate income.

Q1. What is entrepreneurship really about?

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

Activity 2: Complete me and Describe me!

Direction: Complete the acronym ENTREPRENEURSHIP using an adjective. Write

your answer in a separate sheet of paper.

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

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 Discover

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

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

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

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

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

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

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

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

Entrepreneurship plays a vital and influential role in economic growth and

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

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

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

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

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

3. Introduces innovation. Entrepreneurs innovate. Innovation can be

something ordinary or technological or break through. This innovation is done
for the product, services or technology towards commercialization and
generates economic wealth. Due to innovation, other business fold, while
others will open of flourish. Some even restructure like merging or buying- out
firms, to respond to the changes that are required in order to become
sustainable in the business.

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4. Generates new materials. Entrepreneurs are always in constant search for
better and cheaper sources of materials they need. Finding new material
providers help in the economic growth of the place. These could be sourced
from because of the value creation.

5. Stimulates investment interest in the new business ventures being

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

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

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

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

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

9. Utilizes and mobilizes indigenous resources. Small and medium enterprise

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

10. Provides more alternatives for consumers. The stiff competition in the
market for quality and cheaper products and services requires the
entrepreneur to come up with more products and services consumers can
choose from. Entrepreneurs also become more concerned about the welfare of
their consumer, and ethical in producing and selling their products and
services, in order that the consumers will prefer them over the other
enterprises selling the same.

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 Explore

Here are some enrichment activities for you to work on to master and strengthen the
basic concepts you have learned from this lesson.

Enrichment Activity 1. Local Entrepreneurs

Direction: Interview at least three entrepreneurs in your municipality then

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

Name of Type of Business No. of years Contribution in

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

Assessment 1. Pick and Analyze!

Direction: Below are relevance of entrepreneurship and entrepreneurs in economic

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

Provides more alternative for

Creates employment
consumers
Introduces Innovation Develop new markets
Stimulates Investment Generates New Sources of Materials
Serves as role models Improves the quality of life
Utilizes & mobilizes indigenous materials Brings social benefits to the people

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

Deepen

Direction: Pretend that you want to be an entrepreneur five years after graduating
senior. Create a timeline that illustrates the step by step process you could do to
achieve a successful future career. You can paste cut-outs from old magazines for
your illustration. In each panel, explain how you would take that step. Create at least
3 panels.

Rubrics for Scoring:

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

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 Gauge

Directions: Read carefully each item. Use a separate sheet for your answers, write
only the letter of the best answer for each item.

1. An Australian economist who first articulated the importance of entrepreneurship

to the economy and the society.
A. Adam Smith
B. Alfred Marsall
C. Joseph Schumpeter
D. Milton Friedman

2. The importance of entrepreneurship to the economy and the society is first

articulated by an Australian economist in the year?
A. 1933
B. 1934
C. 1935
D. 1936

3. It refers to the activity of setting up a business or businesses, taking on financial

risks in the hope of profit.
A. Business
B. Entrepreneur
C. Entrepreneurial
D. Entrepreneurship

4. It refers to the person who sets up a business with the aim to make a profit and
create a fulltime, sustainable business with employees.
A. Entrepreneur
B. Leader
C. Manager
D. Supervisor

5. The following are considered as important characteristics of a good entrepreneur

EXCEPT:
A. Disciplined
B. Hardworking
C. Self-confident
D. Narrow-minded

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6. If an entrepreneur puts up a business, employ people who possess different
competencies and personal values to help them operate the enterprise. What is
his/her contribution to the economy and society?
A. Bring social benefit to the people.
B. Creates employment.
C. Develops new market.
D. Utilizes and mobilizes indigenous resources.

7. If an entrepreneur is always in constant search for better and cheaper sources of

materials he/she needs. He/she is ________?
A. Developing new market
B. Improving the quality of life.
C. Generating new materials.
D. Stimulating investment interest in the new business ventures being
created.

8. If an entrepreneur is an opportunity-seeker, creative, resourceful, and seeks for

new buyers or customers of his/her own products or services. What is his/her
contribution to the economy and society?
A. Bring social benefit to the people
B. Creates employment
C. Develops new market.
D. Utilizes and mobilizes indigenous resources

9. If an entrepreneur pays taxes for every product or services sold in the market.
He/she also pays for the permits and licenses to operate their businesses. What
is his/her contribution to the economy and society?
A. Improving the quality of life.
B. Bring social benefit to the people
C. Generating new materials.
D. Stimulating investment interest in the new business ventures being
created.

10. Small and medium enterprise will always look for cheaper and local materials to
supply their needs. If the entrepreneur make use of idle or unused resources to
meet their needs, what is his/her contribution to the economy and society?
A. Bring social benefit to the people
B. Creates employment
C. Stimulating investment interest in the new business ventures being
created.
D. Utilizes and mobilizes indigenous resources.

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For questions 11-15, identify what characteristics an entrepreneur possesses if:

11. He/she is habitually working diligently for a long period of time. He/she keeps
on improving his/her performance to produce good products and/or provide
good services.
A. Able to accept change
B. Disciplined
C. Hardworking
D. Self-confident

12. He/she always stick to the plan and fight the temptation to do what is an
important.
A. Able to accept change
B. Committed
C. Disciplined
D. Has the initiative

13. Nothing is permanent but change. Change occurs frequently. When you own a
business, you should face your challenges and cope with changes.
A. Able to accept change
B. Committed
C. Has the initiative
D. Self-confident

14. An entrepreneur enters into the world of business to generate profit or additional
income. This shall become the bread and butter for you and for your family as
well. Therefore, you must see to it that the business can generate income.
A. Able to accept change
B. Committed
C. Has the initiative
D. Profit- oriented

15. The entrepreneur believes in one ability and own judgement in order to cope with
all the risk of operating their own business.
A. Committed
B. Has the initiative
C. Profit- oriented
D. Self-confident

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References
Printed Materials:

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

Philippines: Vibal Publishing House, Inc.

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

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

Website:

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

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

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