ENTREPRENEURSHIP

Quarter 1 – INTRO
The Relevance of Entrepreneurship

i
Entrepreneurship
Alternative Delivery Mode
Quarter 1 – INTRO: The Relevance of Entrepreneurship
First Edition, 2020

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Published by the Department of Education

Secretary: Leonor Magtolis Briones
Undersecretary: Diosdado M. San Antonio

Development Team of the Module

Writer: Rowena C. Untalan
Editors: Grace N. Aloner and Angelina T. Almazan
Reviewers: Leilani A. Pregellana and Eric A. Molines
Illustrator: Ariela Joy R. Matalog
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 Entrepreneurship
Quarter 1 – INTRO

The Relevance of Entrepreneurship

iii
Introductory Message
For the facilitator:

Welcome to the Entrepreneurship for Grade 12 Alternative Delivery Mode (ADM)

Module on Introduction to Entrepreneurship!

This module was collaboratively designed, developed and reviewed by educators

both from public and private institutions to assist you, the teacher or facilitator in
helping the learners meet the standards set by the K to 12 Curriculum while
overcoming their personal, social, and economic constraints in schooling.

This learning resource hopes to engage the learners into guided and independent
learning activities at their own pace and time. Furthermore, this also aims to help
learners acquire the needed 21st century skills while taking into consideration
their needs and circumstances.

In addition to the material in the main text, you will also see this box in the body of
the module:

Notes to the Teacher

This contains helpful tips or strategies
that will help you in guiding the learners.

As a facilitator you are expected to orient the learners on how to use this module.
You also need to keep track of the learners' progress while allowing them to
manage their own learning. Furthermore, you are expected to encourage and assist
the learners as they do the tasks included in the module.

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For the learner:

Welcome to the Entrepreneurship 12 Alternative Delivery Mode (ADM) Module on

Introduction to Entrepreneurship!

The hand is one of the most symbolized part of the human body. It is often used to
depict skill, action and purpose. Through our hands we may learn, create and
accomplish. Hence, the hand in this learning resource signifies that you as a
learner is capable and empowered to successfully achieve the relevant
competencies and skills at your own pace and time. Your academic success lies in
your own hands!

This module was designed to provide you with fun and meaningful opportunities
for guided and independent learning at your own pace and time. You will be
enabled to process the contents of the learning resource while being an active
learner.

This module has the following parts and corresponding icons:

What I Need to Know This will give you an idea of the skills or
competencies you are expected to learn in
the module.

What I Know This part includes an activity that aims to

check what you already know about the
lesson to take. If you get all the answers
correct (100%), you may decide to skip this
module.

What’s In This is a brief drill or review to help you link

the current lesson with the previous one.

What’s New In this portion, the new lesson will be

introduced to you in various ways such as a
story, a song, a poem, a problem opener, an
activity, or a situation.

What is It This section provides a brief discussion of

the lesson. This aims to help you discover
and understand new concepts and skills.

What’s More This comprises activities for independent

practice to solidify your understanding and
skills of the topic. You may check the
answers to the exercises using the Answer
Key at the end of the module.

What I Have Learned This includes questions or blank

sentence/paragraph to be filled into process
what you learned from the lesson.

What I Can Do This section provides an activity which will

help you transfer your new knowledge or

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 skill into real life situations or concerns.

Assessment This is a task which aims to evaluate your

level of mastery in achieving the learning
competency.

Additional Activities In this portion, another activity will be given

to you to enrich your knowledge or skill of
the lesson learned. This also tends retention
of learned concepts.

Answer Key This contains answers to all activities in the

module.

At the end of this module you will also find:

References This is a list of all sources used in

developing this module.

The following are some reminders in using this module:

1. Use the module with care. Do not put unnecessary mark/s on any part of
the module. Use a separate sheet of paper in answering the exercises.
2. Don’t forget to answer What I Know before moving on to the other activities
included in the module.
3. Read the instruction carefully before doing each task.
4. Observe honesty and integrity in doing the tasks and checking your
answers.
5. Finish the task at hand before proceeding to the next.
6. Return this module to your teacher/facilitator once you are through with it.
If you encounter any difficulty in answering the tasks in this module, do not
hesitate to consult your teacher or facilitator. Always bear in mind that you are
not alone.

We hope that through this material, you will experience meaningful learning
and gain deep understanding of the relevant competencies. You can do

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 What I Need to Know

This module was designed and written with you in mind. It is here to help you
understand key concepts, underlying principles, core competencies of
entrepreneurship as well as its importance in real life. The scope of this module
permits it to be used in many different learning situations. The language used
recognizes the diverse vocabulary level of students. The lesson is arranged to follow
the standard sequence of the course.

The module is composed of one lesson entitled “The Relevance of

Entrepreneurship.”

After going through this module, you are expected to:

1. explain the key concepts and principles of Entrepreneurship;

2. recognize entrepreneurship as a subject;
3. discuss the relevance of the studying Entrepreneurship;
4. explain the social and economic contributions of Entrepreneurship.

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 What I Know

Let’s find out what you already know about the topic by taking the pre-test.
On a separate sheet of paper, write the letter that corresponds to your choice.

1. It is the capacity and willingness to develop, organize, and manage a

business venture along with any of its risks to make a profit.
A. enterprise C. economics
B. entrepreneurship D. business
2. This refers to a new business undertaking that involves risk.
A. business B. company C. venture D. entrepreneurship
3. It is considered by most entrepreneurs as the biggest reward of owning
a business.
A. prestige C. making profits
B. being their own boss D. personal satisfaction
4. He is a person who creates and runs a business.
A. employer C. investor
B. employee D. entrepreneur
5. This is a good reason why not everyone wants to be an entrepreneur.
A. risk B. technology C. competition D. fear
6. This is a term in entrepreneurship which involves a continuous search for
ideas, new ways of doing things, new methods, etc.
A. risk-bearing C. innovation
B. profit-making D. profiteering
7. What statement best describes an entrepreneur?
A. A person who works for someone who owns a business
B. A person who decides to create or run a business
C. A person who buys a successful business
D. A person who teaches business at a college
8. This statement is not true about entrepreneurship education.
A. Entrepreneurship develops an interest in starting a business.
B. Entrepreneurship changes personal and career attitudes which
include creativity, responsibility, collaboration, problem-solving skills,
and many others.
C. Entrepreneurship develops a love for money.
D. Entrepreneurship transforms learners to be innovators.
9. This is referred to an entrepreneurship program for the K to 12 learners and
was created by the virtue of Republic Act (R.A.) No.10679.
A. Young Learners Entrepreneurs Act
B. K12 Entrepreneurship Act
C. Youth Entrepreneurship Act
D. High School Entrepreneurship Act

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10. These are the reasons why Entrepreneurship is incorporated in the SHS
Curriculum.
1. To equip the learners with 21st-century skills that will enable them to
meet the demands of the Fourth Industrial Revolution.
2. To prepare the SHS graduates for business
3. To prepare the SHS graduates for college and employment
4. All of the above
A. 1 & 2 B. 2 & 3 C. 1 & 3 D. 4
11. This is the role played by entrepreneurs in economics.
A. Entrepreneurs set trends.
B. Entrepreneurs create businesses that produce products and services
to meet the needs and wants of the consumers.
C. Entrepreneurs borrow money from the economy to start their
business.
D. None of the above.
12. When taxes are paid by entrepreneurs, better services are delivered
to people through government projects. What is meant by the
aforementioned statement?
A. Entrepreneurship brings social benefits
B. Entrepreneurship utilizes and mobilizes more resources for greater
national productivity
C. Entrepreneurship creates more entrepreneurship
D. Entrepreneurship improves the quality of life
13. The statement, “I know how to do it correctly”, agrees to this benefit gained
from entrepreneurship education.
A. Entrepreneurship promotes social justice and equality.
B. Entrepreneurship develops analytical and decision-making skills.
C. Entrepreneurship promotes optimism and a positive attitude.
D. Entrepreneurship helps demonstrate efficiency.
14. This is not considered a benefit of studying Entrepreneurship.
A. It promotes social and emotional well-being.
B. It gives us a profit.
C. It enables us to be more creative.
D. It develops different skills.
15. The statement, “I am going to put up my own business in the future” is
meant the same for this.
A. Entrepreneurship develops an interest in business and ventures to it
in the future.
B. Entrepreneurship promotes social equality and justice.
C. Entrepreneurship teaches the students how failure makes them more
creative and innovative.
D. Entrepreneurship develops management and financial skills.
E. K12 Entrepreneurship Act
F. Youth Entrepreneurship Act
G. High School Entrepreneurship Act

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 Lesson
The Relevance of
1 Entrepreneurship

Our country, the Philippines is a developing country. It is faced with different

challenges in terms of poverty, malnutrition, high mortality rates, crimes, and a
high rate of unemployment among others. This situation hinders the further growth
of our nation’s economy and limits the delivery of sufficient and satisfying public
services. It also has a great impact on the lives of its people.

Our government keeps on finding various solutions to these problems to address

social unrest. Part of this solution is providing relevant and quality education
which is made available for all.
Engaging in business enterprises has been seen as a potent way to improve life and
eradicate poverty. It can create enormous wealth. It can provide income and
livelihood for the unemployed and additional income streams for the employed. It is
an effective means to augment income, to make a decent living and, to create a
better life for the family. A better life means better people, better people means a
better nation.
Including Entrepreneurship as an applied subject in our K to 12 Curriculum made
our basic education more relevant and responsive to the needs of the time.
This module will help you understand the key concepts, underlying principles, and
core competencies of Entrepreneurship where you will learn why it is considered as
a means to an end. This also will aid you in understanding its importance to you
as a student and its contribution to society and the economy as well.

Objectives

At the end of this lesson, you should be able to:

1. recognize entrepreneurship as a subject;

2. explain the key concepts and principles of Entrepreneurship;
3. discuss the relevance of the studying Entrepreneurship;
4. explain the social and economic contributions of Entrepreneurship.

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 What’s In

Being an entrepreneur requires you to understand business terms that will help
you in running your business effectively. Let’s find out if you still remember the
entrepreneurial terms that you have encountered in your AP-Economics subject in
junior high school.

Direction:

Figure out the word that corresponds to the given configuration clues. Write your
answers on a separate sheet of paper.

1. Desires that can be satisfied in

consuming goods and services
or leisure activities w t

2. An object or system made available

for consumer use p d t

3. A person or organization that buys

goods or services c s r

4. The amount of money expected or p e

required in payment for something

5. A social process which involves the

utilization of resources to produce
produce goods and services
to satisfy the needs of society b i s

6. Money that is kept after all expenses

of running a business p f t

have been deducted from the

income

Now that you have gained knowledge about the basic concepts in Economics, it’s
time for you to learn something about Entrepreneurship.

 Let’s get started!

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 Notes to the Teacher
Let the student identify the importance of education and
lead him/her to the relevance of entrepreneurship
education through the paragraph below.

What’s New

Read and understand the paragraph carefully.

For months now, our united efforts against the COVID-19 pandemic are producing in
defeating the unseen threat. Still, our country and the world at large are facing new
challenges brought about by this unforeseen public health crisis.
As we continue to confront the issues brought about by the pandemic, we in the
Department of Education (DepED) are addressing challenges in the basic education
through the Learning Continuity Plan (LCP), which will be in effect by the time of
School Year 2020-2021 opens on August 24, 2020.
The LCP is our major response and our commitment to ensuring the health, safety,
and well-being of our learners, teachers, and personnel in the time of COVID-19 while
finding ways for education to continue amidst the crisis for the upcoming school year.
It is our goal to facilitate the safe return of our teachers and learners to school
without any worry for COVID -19 but until such time is already possible, we will do
everything in our capacity to carry on so that basic education will still be available
despite the crisis. (An Excerpt, Official Statement, Department of Education, May 5, 2020)

From the above statement of the Department of Education, the agency is exercising
its best efforts to deliver quality instruction in the new normal brought about by
COVID-19 pandemic. This proves that education should not be taken for granted
because of its importance. Despite the efforts, many graduates are still unemployed
due to a lack of required skills for employment and in business. To address this
challenge, the entrepreneurship course has been included in college long before
and recently in senior high school curriculum when the K to 12 Program was

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enacted in 2013. Education in the field of doing and making business has been
proven useful in cultivating creative skills and innovative talents which are driving
forces for future development.

Activity
Make an acrostic expressing your idea about entrepreneurship and how it
contributes to your development as a student and as a person. Write your acrostic
on short bond paper. The first one is done for you.

Importance of Studying Entrepreneurship

E ducation for real life

N

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 What is It

In colleges and universities, Entrepreneurship is offered as a degree that focuses on

how to start and manage a business by combining management, accounting,
finance, and marketing principles.
In the secondary schools, Entrepreneurship is one of the applied track subjects
offered to all senior high school students regardless of a track – Academic or TVL
Tracks.
By the virtue of Republic Act (R.A.) No.10679, otherwise known as the “Youth
Entrepreneurship Act”, an entrepreneurship program for the K to 12 learners was
created. This was included in the SHS Curriculum to equip the learners with 21 st-
century skills that will enable them to meet the demands of the Fourth Industrial
Revolution.
Entrepreneurship is one of the four exits of the Senior High School Program along
with the pursuit of college education, development of middle-level skills, and
employment. It ensures that senior high school graduates are employable,
entrepreneurial, and college-ready.

What is Entrepreneurship?

Word origin -French Word -entreprendre

Meaning - to do something or to undertake

The word “entrepreneur” was derived from the French verb entreprendre, which
means “to undertake”. This refers to those who undertake” the risk of new
enterprises (De Guzman, 2018).

According to The Business Dictionary, entrepreneurship is the capacity and

willingness to develop, organize, and manage a business venture along with any of
its risks in order to make a profit. The most obvious example of entrepreneurship
is the starting of new businesses.

Professor Nathaniel Left defines entrepreneurship as the capacity for innovation,

investment, and expansion in new markets, products, and techniques. This
definition is not only applicable in business but also social services like schools,
hospitals, government agencies, and similar institutions.

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What is an Entrepreneur?

Someone who creates and runs a business is called an entrepreneur.

Core Concepts of Entrepreneurship

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 the
optimum utilization of scarce resources.
Innovation
Entrepreneurship involves a continuous search for change, new ideas, and new
ways of doing things.
Profit potential
It is the potential to generate revenue or return to the entrepreneur. He earns profit
for taking the risk of developing an idea into an actual business venture.
Risk bearing
The essence of entrepreneurship is the willingness to assume risk arising from the
creation and implementation of new ideas.

What is Risk?
When an entrepreneur starts a new business, the risk is involved.

The Business Dictionary defined risk as a probability or threat of damage,

injury, liability, loss, or any other negative occurrence, that is caused by external or
internal vulnerabilities, and that may be avoided through pre-emptive action.
In simple words, the risk is the chance of losing something.

The venture is a new business undertaking that involves risk.

Risk of Being an Entrepreneur

1. Potential business failure. Being fully responsible means the success or

failure of the business rests on you.

2. Unexpected Obstacles. Problems can happen even if you don’t expect them.
There is also a possibility of a loss of property.

3. Financial Insecurity. Many businesses don’t make much money in the

beginning, so you may not always be able to pay yourself.

4. Long Hours and Hardwork. It’s not unusual for entrepreneurs to work a lot
of extra hours to make their business successful. This is initially true
during the initial start-up process.

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 So, if the business involves
risks.....
Why be an Entrepreneur?

The biggest reward of becoming an entrepreneur is the personal satisfaction

that comes from having the freedom to make your own business decisions
and act on them.

Making your own rules. When you own a business, you get to be
your own boss. You can set your own schedule and enjoy time
freedom.
Doing the work you enjoy. The majority of most people’s lives are
spent at work. The entrepreneur has an opportunity to do something
that he/she enjoys.
Creating greater wealth. An entrepreneur can create enormous
wealth. There is no limit to what he/she can make.
Helping your community. Being an entrepreneur lets you make your
community and world a better place.

Why do we need to study Entrepreneurship?

Let me help you understand the value of studying entrepreneurship through the
following stories.

Socorro Ramos – National Bookstore

Socorro C. Ramos started working as a salesgirl when she was 18 years old in
Goodwill Bookstore in Escolta, Manila. She was good at selling, that’s why she
became in-charge of the store. When she was married to Jose Ramos, they put up
the National Bookstore. Their once small stall, despite having burnt to the ground
during the Japanese occupation and later ravaged by a typhoon, would persevere
and prosper amidst great adversity. It is the resilience and relentlessness that took
National Bookstore to heights they once thought was impossible.

Their journey is an inspiration for Filipinos everywhere, and a reminder of the

humble beginnings of one of the country’s most loved institutions.

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Tony Tan Caktiong – Jollibee Foods Corporation
For most parts of the world, you go to McDonald’s if you are craving for burgers
and fries but not in the Philippines. Here, Tony Tan Caktiong’s smiling red bee
dominates the fast-food industry in our country and is now hailed as Asia’s most
valuable restaurant chains. Not many people know that Tony started Jollibee by
selling Magnolia Ice Cream.
The success of Jollibee according to Mr. Caktiong is sharing to people what they
had achieved. Jollibee is the favorite place to dine in of many Filipinos especially
the kids.

Jollibee proved that going against giants is hard but not impossible. With close
attention to customer feedback and the right attitude in managing risk and reward,
you too can make it big in the saturated industry.

Lucio Tan – Philippine Airlines

Lucio Tan’s story was from rags to riches tale. Before working in the tobacco
industry, his business was a scrap. His dream was to become a scientist but his
fortune was bound to become an entrepreneur. His hard work made him
successful and made him famous. Now, he owns Asia Brewery, Tanduay, Fortune
Tobacco, Philippine Airlines, Allied bank, and many more.
Lucio Tan is one of the most magnanimous philanthropists in the Philippines.

Alfredo Yao- Zest-O Corporation

Alfredo Yao came from a poor family and he became rich due to hard work and
determination. He didn’t finish his education at Mapua Institute of Technology. He
experienced to work in the printing press and then ventured to his business for 20
years. Then, he shifted to a juice manufacturing business. Zest –O became hit to
mothers because of its being convenient to be placed in every lunch box of the
children. Today, Zest-O was one of the leading juice manufacturers in the country,
in China, New Zealand, Singapore, and many others.
With Alfredo’s determination to make something out of nothing, he was able to
achieve beyond what he could ever imagine.

Cecilio K. Pedro – Lamoiayan Corporation

Cecilio K. Pedro finished his business management degree at Ateneo de Manila

University. He founded the Lamoiayan Corporation which became the
manufacturer of the first locally produced toothpastes “Hapee” and “Kutitap”. This
made toothpaste affordable to the masses. The business survived in the industry
because of its being tough and innovative in competing with multinational
companies. His company had received an award, “Most Outstanding Program for
Equal Employment Opportunity,” giving importance to those who have difficulty in
hearing to work in his company.

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These successful businessmen may come from different backgrounds and have
different stories to tell. They worked hard to attain success. They had faced different
challenges but never gave up. They turned their dreams into reality and never stop
until they achieved their goals.
The core of all their success is the same thing: their beliefs that they can be
successful.

The success stories of entrepreneurs can be our inspiration and motivation to do well
in life. Their experiences can be our guide in achieving our dreams and aspirations.
The values that we can learn in the study of their life and their entrepreneurial
activities can help us to be the best version of ourselves.

Studying entrepreneurship makes sense because it nurtures personal growth and

development. It teaches people to cultivate unique skills and think outside the box.
It creates opportunity by developing skills needed to be able to work or to start a
business. These skills are relevant in any field and would also nurture desirable
attributes for being an employee. Having a wide range of business-relevant skills
acquired through studying entrepreneurship would make you an ideal candidate in
most fields. The skills taught in entrepreneur courses generally apply to all areas
of industry and do not destroy creativity or block opportunity to a specific career.
(Constantine, 2017)

All these benefits of studying entrepreneurship can be summarized as follows:

Importance of Studying Entrepreneurship

1. Entrepreneurship enables the students to develop ideas by learning to

recognize business opportunities, researching, and understanding other
people’s insights.

2. Entrepreneurship develops an interest in business and ventures to it in the

future.

3. Entrepreneurship promotes social equality and justice.

4. It teaches the students how failure makes them more creative and
innovative.

5. It helps them to demonstrate efficiency in real life.

6. It promotes social and emotional well-being.

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 7. It develops analytical and decision-making skills

8. It develops management and financial skills.

9. It promotes optimism and a positive attitude towards life.

10. It teaches them to DREAM BIG, to take actions to achieve their dreams, and
to make a difference.

Entrepreneurship education develops the skills and competencies needed in

employment and business. It provides our learners with real-life skills that enable
them to face challenges of life confidently. It also helps in the values formation and
promotion of social responsibility. Thus, the study of Entrepreneurship supports the
development of the total well-being of a person.
Entrepreneurship continues to grow as a means of living for many people. It
plays a significant role in bringing a country and its people towards self-sufficiency.
It brings about many benefits not only to the entrepreneur but also to the community
and the country as a whole.

Entrepreneurship also plays a very important role in society and the

economy.

Let’s go further, and learn more!

Social and Economic Contributions of Entrepreneurship

1. Entrepreneurship creates employment.

When entrepreneurs put up a business, they often need to hire people
to work for them to get things done. More entrepreneurs, more businesses
are created, more jobs for the people.

2. Entrepreneurship improves the quality of life.

Entrepreneurial ventures contribute significantly to the continuous
improvement of the standard of living. Products and services are produced to
satisfy the needs and wants of the consumers. New products are developed
and the services are improved thus, making life easier and comfortable for
society in general.

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3. Entrepreneurship maximizes the use and mobility of resources for
greater national productivity.
Our country’s economy will grow rapidly if none of its resources were left idle
or unused. Industries utilize and process these resources as raw materials
in creating outputs local industries and foreign industries need. This
means fewer imports and more exports that can make a good dollar reserve
for the country.

4. Entrepreneurship contributes to a more equitable distribution of

income taxes and therefore eases social unrest.
Many people will have more money if income is evenly distributed. They can
buy the products and services they need, bringing in more profits to
entrepreneurs. They may also have enough money to invest in their own
enterprises, thus increasing the number of entrepreneurs. When income is
evenly distributed there will be less poor people. The eradication of poverty
will help solve social problems like crimes, juvenile delinquency, and
malnutrition.

5. Entrepreneurship brings social benefits through the government.

The government generates funds from taxes, licenses, income taxes, etc.
With these revenues, better services are delivered to people through
infrastructures, education, health, maintenance of peace and order, and
many others.

6. Entrepreneurship creates more entrepreneurship.

A business can create more businesses. For example, when a theme park
business is opened, apartments, restaurants, malls are more likely to open.
This contributes to the growth of the economy. Entrepreneurship plays a
critical role in boosting economic growth and development.
(Wong et al., 2005)

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 What’s More

Write your answers on a separate sheet of paper.

Activity 1.1
A. Complete the following sentences by identifying the missing word.

1. Entrepreneurship is the capacity or willingness to develop, organize, and

manage a business along with any of its risk to make a ________.

2. __________ is the chance of losing something.

3. The biggest ______________ of becoming an entrepreneur is the personal

satisfaction.

4. The essence of entrepreneurship is the willingness to assume _____ arising

from the creation and implementation of new ideas.

5. _________________ is the one who bears uncertainty, buys labor and

materials, and sells products at uncertain prices.

B. Match the statement that explains the given concepts of

entrepreneurship.

1. Profit D. Bears
potential uncertainty
2.Risk bearing C. generates
A. Involves
continuous search return or
3. Innovation for new ideas revenue

4. Economic and B. Creates value and

dynamic activity wealth through the
utilization of scarce
resources.

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Activity 1.2

A. Arrange the jumbled words to create a sensible statement about studying

Entrepreneurship. Don’t forget to use punctuation mark and capitalize the
first letter of the first word of your sentence.

effective an entrepreneurship
to life learn skills
education real-life means is

B. Complete the following statements about the importance of studying

entrepreneurship.

Importance of Studying Entrepreneurship

1. Entrepreneurship develops an interest in ____________and venturing to it in

the future.
2. It helps the students to demonstrate efficiency in __________.
3. It promotes __________ and ______________ well-being.
4. It teaches the students how failure makes them more __________ and
__________.
5. It develops different skills such as __________, __________, __________,
__________.
6. It promotes __________ and _________________ attitude towards life.

C. True or False

Write TRUE if the statement about the study of Entrepreneurship is correct and
FALSE if it is wrong.

1. Entrepreneurship is offered as a degree in colleges and universities.

2. Entrepreneurship is a core subject offered in the senior high school of the

K to 12 Curriculum.

3. The study of entrepreneurship does not promote the total well-being of a

person.

4. Entrepreneurship enables the students to develop ideas by learning

business activities and other related tasks.

5. The skills taught in entrepreneurship courses generally apply to all areas of

industry.

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Activity 1.3

A. Refer to the list of relevance of studying Entrepreneurship in your module

(pages 12-13). Tell the benefit that agrees with the given statement. (Some items
have more than one possible answers).
Write the number/s only.

_____1. I know how to manage my time wisely.

_____2. I know how to do the work appropriately.
_____3. I understand other people better.
_____4. I am aware of business opportunities.
_____5. I will buy my dream house.
_____6. I will invest my money instead of putting it in a bank.
_____7. I want to run my own welding shop.
_____8. Owning a business allows me to help other people.
_____9. Planning and organizing activities are easy tasks.
_____10. I believe in myself.

B. Essay
Write an essay on how entrepreneurship education contributes to your
development as a student and as a person. Make your own title.

Activity 1.4

Form a statement about the benefits of entrepreneurship using the

jumbled words inside the box.
Don’t forget to use punctuation mark and capitalize the first letter of the first word of
your sentence.

3. market
develops 5. entrepreneurship
1. self-employment goods
entrepreneurship
entrepreneurship we
possible
creates 4. encourages provides
a
entrepreneurship and
2. jobs technology services
for productivity daily
more to that
others use use
entrepreneurship the
provides of
modern
enhance

17
 What I Have Learned

Entrepreneurship is offered in colleges and universities as a ______________ or

course. It is an _______________subject of senior high school in the
K to 12 Curriculum

The study of Entrepreneurship develops interests in ______________ and venturing

to it in the future. It develops different skills such as management skills, financial
skills, technical skills, communication skills, and many other skills.

______________________ promotes the growth of the total well-being of a person.

_____________________ is the capacity and willingness to develop, organize, and

manage a business venture along with any of its risks in order to make a profit.

An ____________________ is someone who creates and runs a business.

Entrepreneurship is an __________ and dynamic activity.

Entrepreneurship involves a continuous search for new ideas, it is called

__________________.

The ______________ is the potential to generate revenue or return

to the entrepreneur for taking on the risk of developing an idea into a business.

The essence of entrepreneurship is the willingness to assume _________ arising

from the creation and implementation of new ideas.

_____________ is a probability or threat of damage, injury, liability or loss.

The biggest reward of becoming an entrepreneur is the _________________________

that comes from having the freedom to make your own business decisions and act
on them -being your own boss.

Entrepreneurship has the following social and economic contributions:

 _____________________________
 _____________________________
 _____________________________
 _____________________________
 _____________________________
 _____________________________

18
 What I Can Do

Write your response on a separate sheet of paper.

The development of positive thinking is one of the benefits that we can get in the
study of entrepreneurship. Let’s apply what you have learned.

Direction:
Create a positive self- affirmation.
Write a short explanation of WHY you chose that affirmation and state
how you are going to achieve what you want.

Memorize the affirmation, recite it five (5) times every day right after waking
up and before going to bed.

Examples of Positive Self Affirmation:

I am amazing. I am successful. I am healthy.

Your Positive Oasis

19
 Assessment

Write your answers on a separate sheet of paper.

A. Multiple Choice

Choose the letter that corresponds to your choice.

1. The word entrepreneur was derived from the French verb entreprendre,
which means to __.
A. make B. undertake C. seek D. manage
2. The best explanation for entrepreneurship is ___.
A. an individual engaging in entrepreneurial activity
B. the capacity to run a business
C. the willingness to take risks
D. the ability and willingness to take a risk to develop a business
3. The common reasons given why people choose to become entrepreneurs
include the following, except ____.
A. to do the work they enjoy
B. to escape from long hours associated with corporate jobs
C. to be their own boss
D. to be able to make friends
4. The risk of being an entrepreneur that is not considered is ___.
A. potential business failure C. long hours and hard work
B. providing value to others D. financial insecurity
5. When entrepreneurs put up a business, they need people to work for them
in order to get things done. It suggests that ___.
A. entrepreneurship involves utilizing utilizes resources.
B. entrepreneurship creates employment.
C. entrepreneurship improves the quality of life.
D. entrepreneurship raises the standard of living
6. The return or compensation the entrepreneur gets for taking the risk from
organizing and running a business is a ___.
A. profit B. salary C. allowance D. wage
7. The personal satisfaction the entrepreneur gets from doing his/her own
business includes the following:
1. creating greater wealth 3. doing work he/she enjoys
2. helping the community 4. making his/her own rules
A. 1,2,3 B.1,2,4 C. 1, 3,4 D. 1,2,3,4
8. Ramil’s primary reason for starting his own business is his desire to make
his own schedule. He is looking forward to the ______ as he hopes to have as
an entrepreneur.
A. tax deductions C. advanced technology
B. flexibility and independence D. personal commitment
9. The following statements are true about an entrepreneur except for ___.
A. an entrepreneur gets to act as his own boss.
B. an entrepreneur is responsible for the success of his business.

20
 C. an entrepreneur has ownership in the business.
D. his income is calculated based on his ability to complete the tasks
assigned to him.
10. The true statement/s about the study of entrepreneurship is/are:
1. Entrepreneurship develops the skills needed to start a business only.
2. Entrepreneurship develops the skills needed for employment only.
3. Entrepreneurship develops skills needed for employment and in
business.
4. Entrepreneurship courses generally apply to all areas of industry.
A. Only 1 is correct C. 1, & 4 are correct
B. 2 & 4 are correct D. 3 & 4 are correct
11. The following are benefits of entrepreneurship except,____.
A. entrepreneurship cultivates an interest in business and ventures
to it in the future.
B. entrepreneurship teaches us to be authoritative.
C. entrepreneurship teaches us how failure makes us more creative
and innovative.
D. entrepreneurship promotes social and emotional well-being.
12. “I will never give up.”The given statement suggests that ___.
A. entrepreneurship develops analytical and decision-making skills.
B. entrepreneurship develops management and financial skills.
C. entrepreneurship promotes optimism and a positive attitude
towards life.
D. entrepreneurship develops an interest in business and ventures to
it in the future.
13. “It is easier for me to budget my allowance in school.”
We can infer from the given statement that ____.
A. entrepreneurship develops analytical and decision-making skills.
B. entrepreneurship develops management and financial skills.
C. entrepreneurship enables students to develop ideas by learning to
recognize business opportunities.
D. entrepreneurship teaches the students how failure makes them
more creative and innovative.
14. The following statements are true, except ____.
A. having a wide range of business-relevant skills acquired through
studying entrepreneurship would make you an ideal candidate in
limited fields.
B. entrepreneurship teaches people to cultivate unique skills and
think outside the box.
C. entrepreneurship creates opportunities by developing skills needed
to start up a business.
D. entrepreneurship develops desirable attributes for being an
employee.
15. When new products are produced and services are improved, life becomes
easier and comfortable. This suggests that __.
A. entrepreneurship develops a possible market.
B. entrepreneurship encourages the use of modern technology.
C. entrepreneurship creates self-employment.
D. entrepreneurship improves the quality of life.

21
 Additional Activities

My Dream Board

A. With the resources or materials available to you create a dream board,

showing your dream house, dream car, dream partner, dream vacation,
dream life, etc.

B. Post your dream board on the part of your house where you can see it right
after waking up and before going to bed.

 Great, you’re done!

Be ready for the next module.

Answer Key

What I Know What’s In

1. B 1. wants
2. C 2. product
3. D
3. consumer
4. D
5. A 4. price
6. C 5. business
7. B
8. C 6. profit
9. C
10. D
11. B
12. A
13. D
14. B
15. A

22
 What’s New Assessment
Activity
Note: Answers Vary 1. B
Sample Answer: 2. D
E -ducation for life 3. D
N- ourishing talents 4. B
T- argeting your goal 5. B
R- aising standard of life 6. A
E- xecuting great ideas 7. D
P- reparing for the future 8. B
R- evealing opportunities 9. D
E- ntering into business 10. D
N- urturing skills 11. B
E- xercising freedom 12. C
U- nravelling problems 13. B
R- ealizing dreams 14. A
S- haring with others 15. D
H- elping the community
I- nnovating new techniques
P- rogress and development

What’s More
Activity 1.1 Activity 1.3
A. B.
A.
1. profit 1. C
1. 8 6. 7,8
2. Risk 2. D
2. 5 7. 1,2
3. Reward 3. A
3. 6 8. 6
4. Risk 4. B
4. 1,2 9. 5,8
5. Entrepreneur
5. 9,10 10. 6/9
Activity 1.2 B. Essay - Answers Vary
A. Entrepreneurship education is an Activity 1.4
effective means to learn real-life
skills. 1. Entrepreneurship creates self-
B. 1. business employment.
2. life 2. Entrepreneurship provides more
3. social, emotional jobs for others.
4. creative, innovative 3. Entrepreneurship develops a
5. management, financial,
possible market.
analytical, decision-making
skills 4. Entrepreneurship encourages the
6. optimism, positive (attitude) use of modern technology to
C. 1. True enhance productivity.
2. False 5. Entrepreneurship provides goods
3. False and services that we use daily.
4. True
5. True

23
What I Have Learned

Entrepreneurship is offered in colleges and universities as a degree or course. It

is an applied track subject of senior high school in the K to 12 Curriculum.

The study of Entrepreneurship develops interests in business and venturing to it

in the future. It develops different skills such as management skills, financial
skills, technical skills, communication skills, and many other skills.

Entrepreneurship promotes the growth of the total well-being of a person.

Entrepreneurship is the capacity and willingness to develop, organize, and

manage a business venture along with any of its risks in order to make a profit.

An entrepreneur is someone who creates and runs a business.

Entrepreneurship is an economic and dynamic activity.

Entrepreneurship involves a continuous search for new ideas, it is called

innovation.

The profit potential is the potential to generate revenue or return to the

entrepreneur for taking on the risk of developing an idea into a business.

The essence of entrepreneurship is the willingness to assume risk arising from the
creation and implementation of new ideas.

Risk is a probability or threat of damage, injury, liability or loss.

The biggest reward of becoming an entrepreneur is the personal satisfaction that

comes from having the freedom to make your own business decisions and act on
them -being your own boss.

Entrepreneurship has the following social and economic contributions:

 creates Employment
 improves the quality of life
 maximizes the use and mobility of resources for greater national
productivity
 contributes to a more equitable distribution of income taxes and
therefore eases social unrest
 brings social benefits through the government
 creates more entrepreneurship

24
References

Books

Andres, Tomas. How to Start and Manage Your Own Business: A Manual. Manila:
Our Lady of Manaoag Publishing, 1998.

Fajardo, Feliciano R., Management. Manila: Rex Bookstore, Inc., 1997.

Fajardo, Feliciano R, Entrepreneurship. Manila: National Bookstore, 1994.

Inigo,Conrado, Jr. E., Management for Filipinos. Quezon City: Gemini Philippines
Graphic Arts Corporation, 2012.

Websites:

Constantine. Why We Need to Study and Learn Entrepreneurship. accessed May 17,
2020
https://www.europeanentrepreneurship.com/need-study-learn-entrepreneurship-
education/

Barber, Nathan. Five Reasons for Teaching Entrepreneurship. accessed. May 17,
2020
https://www.sais.org/news/205092/Five-Reasons-for-Teaching-
Entrepreneurship.htm

Department of Education, Official Statement, May 5, 2020. Accessed May 17, 2020
https://www.deped.gov.ph/2020/05/06/official-statement-2

Shobhit, Seth. Entrepreneurs and Entrepreneurship Defined. accessed. May 15,

2020
https://www.investopedia.com/terms/e/entrepreneur.asp

Freedman, Max. Entrepreneurship Defined: What It Means to Be an Entrepreneur.

accessed. March 19, 2020
https://www.businessnewsdaily.com/7275-entrepreneurship-defined.html

Security Bank Team, Finance. How They Did It: Success Secrets of Self-made
Filipino Millionaires. accessed. July 2, 2020
https://www.securitybank.com/blog/how-they-did-it-5-inspiring-success-stories-
of-filipino-millionaires/

https://ourhappyschool.com/education/10-famous-successful-filipino-
entrepreneurs

https://www.nationalbookstore.com/about-us/

http://www.businessdictionary.com/definition/entrepreneurship.html

25
For inquiries or feedback, please write or call:

Department of Education - Bureau of Learning Resources (DepEd-BLR)

Ground Floor, Bonifacio Bldg., DepEd Complex

Meralco Avenue, Pasig City, Philippines 1600

Telefax: (632) 8634-1072; 8634-1054; 8631-4985

Email Address: blr.lrqad@deped.gov.ph * blr.lrpd@deped.gov.ph

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