Saint Vincent Institute
Poblacion, Maribojoc
S.Y. 2020 - 2021
Name: ________________________ Year and Section: _________________ Date: ___________ Score: _______
ENTREPRENEURSHIP 12 (CORE)
FIRST QUARTER: ENTREPRENEURSHIP (WEEK ONE)
Lesson 1: AN ENTREPRENEUR
CONCEPT NOTES
People who think outside the box, people who strategize effective means to attract customers, people who are idealistic and
futuristic, and people who are risk-takers, are called entrepreneurs. They turn those ideas into a profitable business. It is not only
about creating a living but also making a difference in the world we live in today. This includes innovating, risk-taking, and being
proactive. (Miller, 1983)
Entrepreneurs are often characterized as innovators. They play a big role in the economy. They foresee what people need at
present or in the future. You, as young as you are, can become an entrepreneur. You can also be an asset to the society. You can
venture into the world of business by applying what you have learned.
What’s Up?
Arrange the words to decipher the quote by Milton Berle. Afterwards, write your insights on the relationship of the quote to
the entrepreneurship. Write your answer on the line.
knock door build a does opportunity not if
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UNDERSTANDING:
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LET US LEARN
Entrepreneurship came from the French word entreprendre, which means to “undertake.” Through time, the meaning of
entrepreneurship changes. Here are some of the most common definitions of entrepreneurship.
1. Entrepreneurship is the drive for innovation and improvement. According to Joseph Schumpeter, it is considered as a force of
creative destruction through innovation. This leads to creating new and better ways in terms of service and products, and the
business as a whole. (1950)
2. In entrepreneurship, money is not the main motivation in conducting the activity. Instead, success is the major motivator, and
money is just considered as a reward.
3. Entrepreneurship searches for change, respond to it, and then exploits the change as an opportunity. (Peter Drucker, 2005)
4. Entrepreneurship is the transformation of an innovation that will pave way to a more sustainable enterprise that generates value.
(Entrepreneurship in American Higher Education)
5. Entrepreneurship is the act of someone who has perceived what others did not see and would act upon his or her own perception to
address problems. (M. Kirzner, 1973)
IMPORTANCE OF ENTREPRENEURSHIP
1. Entrepreneurship creates job opportunities. According to the Organization of Economic Cooperation and Development, “Policies
to foster entrepreneurship are essential to job creation and economic growth.” (2003) This is indeed evident in the sense that since
entrepreneurs would eventually hire more people for their business, it would give rise for more opportunities for employment.
2. Entrepreneurship provides new products and ideas. If there would be no entrepreneurs, our world today would still be in
stagnation. There si no doubt that entrepreneurship made the world more advanced as it is now. Entrepreneurs provide new
products, market ideas, and technology.
3. Entrepreneurs gives rise to smaller enterprises. Bankruptcy is rampant to small businesses. That is why some people are having
second thoughts before starting a business. Through entrepreneurship, even the unexperienced person is provided with an
opportunity to start a small enterprise.
4. Entrepreneurship improves the standard of living. Entrepreneurs help people sustain their lifestyle by providing adequate goods
and services for their consumption. It also increases the income of the entrepreneurs and the people in the enterprise.
5. Entrepreneurship encourages development through research. Since entrepreneurs start from the scratch, they always use their
original ideas. There is always a need to conduct constant research for the success and realization of their goal for future reference. It
does not only provide zeal for people but also strengthens civilization to achieve a sustainable lifestyle.
ACTIVITY #1
Keep Thinking
Define the following terms based on your understanding. Write your answer below.
1. BANRUPTCY –
2. SUCCESS –
3. ENTERPRISES –
4. GOODS –
5. SERVICES –
6. ECONOMY –
7. OPPORTUNITY –
8. BUSINESS –
9. STAGNATION –
10. POLICY –
ACTIVITY #2
REFLECT UPON
Answer the following questions.
1. Why is entrepreneurship important?
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2. Why do we need to learn and gain basic knowledge in entrepreneurship?
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3. How much applicable is entrepreneurship in real-life situation?
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ACTIVITY #3
TRY IT OUT
Research two entrepreneur that you look up to and identify his or her characteristics and greatest accomplishments.
Afterward, evaluate if he or she has all the characteristics of an entrepreneur. Use an extra paper for writing down the
information.
Saint Vincent Institute
Poblacion, Maribojoc
S.Y. 2020 - 2021
Name: ________________________ Year and Section: _________________ Date: ___________ Score: _______
ENTREPRENEURSHIP 12 (CORE)
FIRST QUARTER: ENTREPRENEURSHIP (WEEK TWO)
Lesson 2: Entrepreneurial Competencies
To become a successful entrepreneur, a person should possess certain skills in the realization of his or her ultimate goal. These
characteristics will help him or her to get through all the challenges that he or she might encounter along the way and will also
serve as his or her drive to proceed with the plan. Here are the 10 personal entrepreneurial competencies (PECs) based from
the 14 PECs by McClellard and McBer. These competencies are expected of every entrepreneur.
A. Achievement Cluster
1. Opportunity Seeker and Self-Initiative
“Start where you are. Use what you have. Do what you can”
-Arthur Ashe
Entrepreneurs should turn unique opportunities into possibilities to address the needs and wants of the consumers.
They are expected to seize unusual circumstances in achieving their end goal. Self-initiative means going beyond what is
expected from them. They do their work even before the deadline and they play a big role by being a team leader or player in
the enterprise.
2. Risk-taker
“Great things never come from comfort zones.”
-Anonymous
A common misconception is that a risk-taker is similar to a gambler. Risk taking is based from calculated
assumptions. You risks, as an entrepreneur, are weighted by looking into the advantages and disadvantages of an action.
Although there is no guarantee that the idea will be supported by the consumers, you still do it anyway in the realization of
positive end results.
3. Efficient
In any kind of enterprise, the quality of products or services should be considered as the top priority. Stagnation has
no place for entrepreneurs. They always strive for perfection and always meet or go beyond what is expected from them to
achieve successful outcomes.
4. Persistent
“If plan A did not work, always remember that you still have 25 more letters.”
-Anonymous
As an entrepreneur, you should not be discouraged immediately if at first try, you did not achieve your plans. There
will be instances, wherein, you will need to take repeated actions if the situation calls for it. Giving up should not be included
in your options.
5. Committed to work Contract
Customer satisfaction is one of the priorities of entrepreneurs. They take full responsibility for the challenges that
might arise as they get the job completed. Entrepreneurs lead by example and serve as team players who involve themselves
with almost all entrepreneurial activities.
B. Planning Cluster
1. Information Seeker
It is known fact that a lot of people learn not just in a formal school setting but also through asking questions and
gathering of data, which is known as autodidactic. Knowing how to gather information is an important trait of entrepreneurs
to be able to solve problems or even in the attainment of their desired goals. They move quickly in response to the changing
needs of the market.
2. Goal-oriented
“The victory of success is half won when one gains the habit of setting and achieving goals.”
-Og Madino
One of the important characteristics that entrepreneurs should possess is having the ability to set goals. This makes a
plan more attainable and possible. Entrepreneurs can use S.M.A.R.T when making goals. Smart stands for specific,
measurable, attainable, relevant and time-bound.
3. Systematic Person
After determining and setting the objectives, entrepreneurs create a step-by-step procedure to achieve their plans. This shows
that entrepreneurs are systematic and logical when it comes to planning and decision-making. They measure, monitor, and
check if the procedures are implemented correctly.
C. Power Cluster
1. Persuasive
Entrepreneurs must be able to persuade other people to believe in their ideas and later on influence them to support
their products or services. They device effective strategies to entice and convince consumers to believe in their vision.
2. Self-confident
Entrepreneurs should trust their abilities and capabilities. They should be able to carry out things even in difficult
situations.
Activity #1
Evaluate your competencies by checking the YES or NO column. Make a short reflective essay about your answers.
Mention some solutions on how you will improve your weaknesses.
Strength Weakness
PECs
(YES) (NO)
1. Are you an opportunity seeker?
2. Do you have self-initiative?
3. Are you a risk-taker?
4. Do you demand efficiency and quality in your work?
5. Do you persevere in every task or situation?
6. Are you committed in accomplishing your goals?
7. Are you an information seeker?
8. Do you consider yourself a goal-oriented person?
9. If you are a goal-oriented person, do you systematically plan your actions toward
achieving your goals?
10. Do you have the ability to persuade people to believe in you? (e.g, reporting in
class, debating, etc.)
11. Can you confidently do thing alone without the help of others?
Reflective Essay
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Activity #2
Read the following situations below. Give your insights on which of these situations matches on the 10 PECs given and
explain why these PECs are your options.
SITUATION #1
Mike was endorsing a washing machine to Mrs. Bonaobra, his prospect customer. He explains the different
specifications of the item starting from its durability and quality. He also explains the dos’ and don’ts when using and
answering all the concerns asked by his client. The deal was settled and Mrs. Bonaobra bought the item. Two weeks past,
Mike’s manager congratulate him for a job well done because one of his customers called back to their store and was very
satisfied with the product. Which PECs very well describe this situation? Why Explain.
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SITUATION #2
The T-shirt printing business of Eric’s family has been profitable for 25 years, as it largely catered to customers
within the area and in several adjacent towns. Eric wanted to expand the operations of the shop and to bring their products to
more customers, and possibly to be retailer of printed shirts itself. In the past, their shop only took set orders from customers,
mainly from schools, sports clubs, and campaign-related groups. Now, Eric is planning to set up an apparel line based on
customized designs to tap the market of young customers and professionals. Which PECs very well describe this situation?
Why Explain.
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SITUATION #3
Carrie was planning to have a laundry business. She wants her laundry business to have a comfortable area for her
customers and a good environment for her workers. She then found a good area for her business but before proceeding to the
process, she make a feasibility study on every aspects of the plan to ensure her profit to be gained directly after investing for
this business. She made a thorough investigation for a best assurance. Which PECs very well describe this situation? Why
Explain.
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Activity #3
Reflect Upon
Answer the following questions. Use the space provided.
1. Why does Personal Entrepreneurial Competencies (PECs) a good bases to becoming a successful entrepreneur?
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2. As a student, which of these PECs is the most helpful in achieving your goals particular in your studies? Why?
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3. Will these PECs be able to be used in other aspects in your life? Which part? Why?
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Activity #4
Research two Filipino entrepreneurs that started from rags to riches and identify their characteristics. Afterward,
evaluate if he or she has all the personal entrepreneurial competencies that bases their success. Use an extra paper for writing
down the information if needed.
