ENTREPRENEURSHIP
TEACHER MHILES
INTRODUCTION
The world is full of adversity. To live in this challenging world is hard. The
presence of international businesses and competition in this global economy vis a vis
the existence of COVID-19 pandemic is really a great challenge in keeping pace to
find a means of survival. The current situation of the world poses innumerable and
substantial challenges to business industries. However, it is inherent to humankind
to keep on searching for something new in order to be at par with the present
situation. This inherent characteristic is imbued in every entrepreneur. With an
inherent intelligence, drive, hard work, perseverance, and continuous search for
something new, entrepreneurs have made best use of every available opportunities
for them. They boosted the various industries, markets, and the national economy.
They made innovations for existing products, invented new one, initiated the
outburst in new technology and developed the entire society. Thus, the purpose of
this module is to familiarize the learner about the nature of the entrepreneur.
OBJECTIVES
● Understand the functions of entrepreneur
(TLE_ICTAN11/12PC-Ia-1);
● Determine the types of entrepreneurs
(TLE_ICTAN11/12PC-Ia-1);
● Figure out career opportunities for
entrepreneurship graduates (TLE_ICTAN11/12PC-
Ia-1); and
● Criticize some myths about entrepreneurship
(TLE_ICTAN11/12PC-Ia-1).
VOCABULARY
• Innovation The action or process of applying a
new method, looking for new ideas or
developing a new product that will alleviate
the living condition of an individual.
• Management The process of controlling or
dealing with people or things.
PRE-TEST
Direction: Carefully read the statement below.
Place a T on the line if you think the statement is TRUE and place an F on the
line if the statement is FALSE.
1. There are types of entrepreneurs who do not initiate any inventions but
follow only after they are satisfied with its success rate. ________
2. Teaching is an example of career opportunity for the graduates of
entrepreneurship. ________
3. Innovation, creativity and risk taking are integral part of being an
entrepreneur._______
4. A great idea is the only ingredient to be considered as an entrepreneur.
________
5. A baccalaureate degree is necessary in order to be considered as an
entrepreneur. __________
The Functions of
Entrepreneurs
1. Innovation is an integral tool of
entrepreneurs. Innovation means turning a
certain object into something new and
useful through the maximum exploitation of
available resources. Innovation is the
creation of nothing into something. In other
words, innovations turn a scrap material into
a usable form.
The Water Gasoline Noli Dazo, the inventor of "Tubig na
Gasoline" or "Dazo Water Fuel Hydrogen" made him an
outstanding Filipino inventor of the Philippines in the field
of innovative products invention. Dazo discovered a way
to make a vehicle run using nothing but water. According
to him, as hydrogen fuel has around three times the power
as standard diesel or petrol, it would be beneficial to
drivers who particularly operate jeepneys and tricycles.
Such innovation is more powerful and cleaner compared
to gasoline or diesel because it has better improved power
that needs less fuel to produce the same speed as a
standard gasoline or diesel engine. It also produces a lot of
steam that cools the engine and get rid of old carbon
deposits inside. Normally, a car can only burn around 70
percent of injected fuel, and the remaining 30 percent is
often emitted smoke in the air (Cruz, 2017).
The Functions of
Entrepreneurs
2. Assumption of Risk An entrepreneur is a risk taker. He is
willing to take the challenge of either failing or succeeding.
His willingness to take risk allows him to march ahead
through his initiatives in discovering new things. However,
although entrepreneurs are risk takers, they do it cautiously
and reasonably. Entrepreneur gather complete data about
the situation, analyse the data and make their decisions.
Since they are confident in their abilities and optimistic in
the results of their decisions, they are not afraid to make
difficult decisions. For them, without taking the risk, any
venture could not be proven as successful.
Henry Ford is a famous inventor of automobile.
He was very imaginative and a risk-taker. He even
dropped prices so steeply that he risked taking
losses yet he managed to meet the voluminous
demand for Model T’s. In order to satisfy
consumer wants, Ford had to take it to the next
level with a do or die attitude. Henry Ford even
cut down the working hours and increased
minimum wages for his workers so that they could
work for a longer period of time before quitting. A
very risky move that could be considered a
mistake to most but was a strong reason why
Henry Ford was able to conquer the automobile
world (Brown, 2014).
The Functions of
Entrepreneurs
3. Research. Doing a research is the application of
accumulated knowledge into practice through
methodology. This is usually applied by
entrepreneur. Before taking a leap, he did a lot of
groundwork which involves considering a variety of
options, analyzing weaknesses and strength of such
options by applying analytical techniques, testing
their applicability, supplementing them with
empirical findings and finally choosing the best
alternative.
Angelo Casimiro: Filipino Teen Invents
Electricity-Generating Shoes Casimiro, has
been known online for his Electricity-
Generating Shoes. According to him, being an
innovator isn’t enough. He said that he studied
film and also got into photography. Then he
incorporated filming, photography, and
lighting with his inventions in order to use it
efficiently to spread his projects. He also
studied some concept in marketing in order to
sell his idea. He keeps on learning and tries to
apply his newly gained knowledge into his
projects (Villamera, 2018).
The Functions of
Entrepreneurs
4. Development of Management Skills
Managerial skill is necessary for entrepreneurs.
The works of managers involves planning,
organizing, staffing, directing, controlling and
coordinating the activities of the enterprise.
His skill 6 Photo from google.com Photo from
google.com gets further strengthened when he
engages himself in establishing the balance
between his organization and its environment.
Joe Magsaysay – Potato Corner The young
Magsaysay left school to bust tables, wash
plates, and work on the cash register at a fast
food chain. In a few years, he became a manager,
handling five stores. With his background and
skills in store management, Magsaysay’s friends
asked him to handle Potato Corner, of which he
was a co-founder. They pooled their money
together and started the food cart business in
1992, offering franchises left and right. Today,
Potato Corner has more than 550 stalls in the
Philippines and around the world (inquirer.net,
2020).
The Functions of
Entrepreneurs
5. Overcoming Resistance to Change It is common
for people to resist changes. Every change alters the
existing behavioural pattern of an individual. The
work of an entrepreneur is to encourage the people
to accept the changes by means of fixing his ideas at
his own level. It is only after successful
implementation of these ideas that an entrepreneur
shares it for others’ benefit. Upon learning that an
entrepreneur’s product of service will be meaningful
for them, it is then that people begin to patronize the
entrepreneur’s product or service.
Personal Computer For a time, people feared
computers. The 1996 book Women and
Computers claimed women were afflicted with
what it called computerphobia, a panoply of
conditions that reflected a fear of touching or
damaging the computer, and an aversion to
discussing or reading about it. The book also
reported that women felt threatened by the
computer and were afraid of becoming "a slave" to
it (Nguyen, 2016). The Atlantic found that
computerphobia popped up in magazines in the
1980s. Today, computers are more user-friendly
and intuitive.
The Functions of
Entrepreneurs
6. Catalyst of Economic Development
An entrepreneur accelerates the
economic development of a country by
discovering new uses of available
resources and maximizing their
utilization. Through this process,
employment is created and the living
condition of the people is improved.
Araceli and Jun Manas – Hen Lin Araceli worked in
a bank while Jun Manas worked in an insurance
firm. They started Hen Lin in 1983 by using the
recipes they learned from a Chinese chef with a
capital of P30,000. 00. The couple had to learn the
complexities of the business themselves. At night,
they practiced making dumplings or siomai. The
Manas couple opened the first Hen Lin store in SM
Makati, which was well received for its delicious
dim sum offerings. Hen Lin became popular in many
malls 30 years later, offering various products such
as hopia, noodles, congee, rice toppings, and
breakfast food (business.inquirer.net, 2020).
Practice Activity 1. Be Functional
Now that you already understand the functions of
entrepreneur, you will now be ready in this activity.
Here, you are tasked to start your own small business
with an initial capital of Php100.00. You may ask that
money from your parents or from somebody by trading
your service to them. You are allowed to use all of the
available resources at home. You are required to list
down all of the expenses incurred in doing that
business.
Practice Activity 1. Be Functional
This activity must be started on day 1. Hence, this
activity covers the entire week and daily monitoring is
necessary. On day 5, you must be able to present the
result of this activity. You will be graded based on how
you are able to run your small business. If you are able
to double the capital, you will be given a grade of 100%.
If it remained at Php100.00 you will be given a grade of
80% but if it turned to be lower than Php100.00, you
will be given a grade of 75%.
Practice Activity 1. Be Functional
The requisite for this activity is your picture in action. Meaning, you
have to prove that you are doing this activity by taking a picture of
the buyers. It must be documented. If there is no cell phone with
camera, let the buyers write their name and signature and the amount
of money they spent in buying your product. They also have to
indicate the date when they bought the product from you. Another
requisite for this activity is your customers’ satisfactory rating. This
customer satisfactory rating will guide you in further enhancing your
product. If you see that your satisfaction rating is unsatisfactory or
needs improvement, then you must do something in order for your
product to be more saleable.
Practice Activity 1. Be Functional
Monday) Tuesday Wednesday Thursday Friday Take note that part of this
(Output) practice activity will also
Sales (Benta) 150.00 100.00 120.00 130.00 500.00 be your practice task. For
your guidance, shown is
Less Expenses:
an example of monitoring
Ice 25.00 25.00 25.00 25.00 100.00
sheet for small business –
Sa Malamig. Capital:
Tang/Kalamansi 25.00 25.00 25.00 25.00 100.00 Php100.00. As you can
see in the output, there is
Sugar 25.00 25.00 25.00 25.00 100.00
an earning of Php120.00.
Plastic Cup 20.00 20.00 20.00 20.00 80.00 By adding the capital of
Php100.00 the total
Earnings 55.00 5.00 25.00 35.00 120.00 amount of money more
than doubled on day 5.
Practice Activity 1. Be Functional
Date Name of Customer Signature Sale Satisfactory
Rating (3- The example of
satisfactory;2
– needs Customers’ Satisfactory
improvement Rating Sheet is shown
; 1-
unsatisfactor below (Please provide a
y) separate sheet of paper
10/19/2020 J. Dela Cruz 5.00 3 for this portion. This can
also be use as buyers’
J. Doe 10.00 3
name list for those
10/20/2020 B. Lee 5.00 2 students who do not
have a cellphone with
C. Lee 10.00 3
camera):
RUBRICS
EARNINGS PLUS CAPITAL EQUIVALENT GRADE
Below 99 75
100-119 80
120-139 85
140-159 90
160-179 95
180-200 100
TYPES OF ENTREPRENEURS
There are various types of entrepreneurs depending on the
level of willingness to create innovative ideas. The book authored by De
Guzman, titled Entrepreneurship, provides various types of
entrepreneurs as follows:
1. Innovative entrepreneurs These entrepreneurs have the
ability to do new things or do the same things in a new and
creative manner. It may be an introduction of a new product
or service, a new method of production, finding new source
of materials or discovering new markets, etc.
TYPES OF ENTREPRENEURS
Leandro Leviste As electricity rates in the Philippines
are among the highest in Asia, Leviste saw this as an
opportunity and founded the Solar Philippines, the
Southeast Asia’s largest and only integrated solar
developer, investor, manufacturer and procurement
and construction (EPC) solar company. Solar
Philippines buys its panels from different suppliers and
then provides its customers with financing, installation,
and engineering. Millions of households throughout the
Philippines currently enjoy the benefits reaped from
the solar farm the Solar Philippines operates
(www.top10asia.org., 2020)
TYPES OF ENTREPRENEURS
2. Imitating Entrepreneurs The imitating entrepreneurs
are those who copy the new inventions of innovative
entrepreneurs. They do not make any innovations by
themselves and they just imitate the processes,
technology and methods pioneered by others. These
entrepreneurs do not have enough resources or industrial
base that hinders them for new innovations. Thus, these
entrepreneurs are suitable for the underdeveloped areas
where they can imitate the combinations of inventions
that were already established in the developed areas in
order to boost their industry
TYPES OF ENTREPRENEURS
3. Fabian Entrepreneurs These
entrepreneurs are skeptical about the
changes to be made in the industry.
They do not start any inventions but
follow only upon learning that the new
invention is successful. They wait for
some time before the innovation has
been proven worthy by others thus
avoids loss due to its failure.
TYPES OF ENTREPRENEURS
4. Drone Entrepreneurs Since these
entrepreneurs are very conservative, they
are reluctant to change and do not want
to make any changes in the organization.
They are happy and contented with their
present business status and do not want
to change even if they are suffering the
losses. They just continue to operate in
traditional ways.
TYPES OF ENTREPRENEURS
5. Social entrepreneur These are the people who pursue
novel applications that have the potential to solve community-
based problems. These individuals or organizations are
willing to take on the risk and effort to create positive
changes in society through their initiatives. Social
entrepreneurs seek to produce environment-friendly
products, serve an underserved community, or focus on
philanthropic activities. The examples of social
entrepreneurship include educational programs, microfinance
institutions, providing banking services in underserved areas,
helping orphaned children, etc. The main goal of a social
entrepreneur is not to earn a profit, but rather to implement
widespread improvements in society.
PRACTICE ACTIVITY 2. WHICH IS WHICH
Direction: Please indicate what type of entrepreneurs or enterprise can be seen in
the following pictures (Note. Photos and images shown below are from
google.com).
Career Opportunities for Entrepreneurship Graduates
1. Mid-level management While the
work is done by the ground force, the
midlevel management executes the
ideas developed by C-level or chief
level individuals at large companies.
The graduates who have
entrepreneurial degrees are very well
suited to capitalize on these
opportunities.
Career Opportunities for Entrepreneurship Graduates
2. Business consultant These are the
individuals who are able to go out to client sites,
identify what the problems are and then solve
the problem. These are the usual things that an
entrepreneur does that is why it is an ideal job
for them. By having the necessary training in
helping to identify issues of concerns that
others might not pick up on as well, an
entrepreneur has an adequate know-how in
solving them.
Career Opportunities for Entrepreneurship Graduates
3. Sales Anyone who works in sales
department must know how the
businesses operate. It is important for
them to know how to manage accounts,
follow-up with leads and represent a
company. Sales is also the best career
opportunity for entrepreneurs who
want to go out on their own one day.
Career Opportunities for Entrepreneurship Graduates
4. Research and development In order
to work effectively in R&D, it is critical
to understand business concepts,
practices and procedures. With the vast
amount of education and training that a
person receives as part of an
entrepreneurship educational program,
it makes them very well prepared to
take on this kind of job position
Career Opportunities for Entrepreneurship Graduates
5. Not-for-profit fundraiser Having the
ability to raise funds involves having a
thorough understanding of the
importance of networking and business
relationships. This is an excellent place
to make use of the advanced concepts
that an entrepreneur had studied in this
position.
Career Opportunities for Entrepreneurship Graduates
6. Teacher An entrepreneur can
teach his students the
entrepreneurial aspect of things in
the process. He can teach the
students about the benefits that
literature provides to persuasive
advertising, history to innovation
or math to business.
Career Opportunities for Entrepreneurship Graduates
7. Recruiter The entrepreneurship courses
cover leadership, operations management
and many others. Most likely,
entrepreneurship graduates are the kind of
individual that are needed for filling various
positions. Companies that utilize recruiters
rely on the person not only being savvy
about people, but also having an in-depth
sense of business.
Career Opportunities for Entrepreneurship Graduates
8. Business reporter or blogger The
graduates of entrepreneurship can write
articles or can take a quick class to learn
how to write an article. They can be in a
position that cover local business news.
They have the necessary understanding of
the concepts and the business field and will
be able to apply their knowledge in order to
make the publication’s business section
more informative and interesting.
Practice Activity 3. Let’s Figure Out
Which among the career opportunities for entrepreneurship
graduates could you figure out as the one where you can directly practice
your entrepreneurial traits? What is your basis? Please defend your
answer. Please write your answer on the lines provided below.
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
________________________________________________________________________________
RUBRICS
Grammar
5 You committed no or minimal grammatical error in the output
3 You committed two (2) to three (3) errors in the output
Some Myths about Entrepreneurship
There are myths about entrepreneurship that were
developed over the years. These are as follows:
Step 01 Step 03
1. Entrepreneurs, like leaders, are born, not made.
Entrepreneurship is a discipline which is comprised
of case studies, models, and processes. OneStep 04
cannot
learn about entrepreneurship without studying the
discipline. In other words, such myths do not hold
true in this manner.
Some Myths about Entrepreneurship
2. Entrepreneurs are academic and social misfits. Education
makes an entrepreneur a true entrepreneur. A Filipino version of Bill
Stepnamed
Gates 01 Diosdado Banatao tookStep 03 engineering and
up electrical
eventually graduated cum laude. Thereafter, he pursued and
completed a Master’s Degree in Electrical Engineering and Computer
Step
Science at Stanford University. He developed the single-chip 04
controller
that provided the data-link control and the transceiver in the first 10-
Mbit Ethernet CMOS (De Guzman, 2018). This description, however,
does not apply to everyone. Bill Gates has been a school drop-out and
so was perceived to be an academic misfit. But not all drop-outs like
Bill Gate succeed as entrepreneurs (De Guzman, 2018).
Some Myths about Entrepreneurship
3. To be an entrepreneur, one needs money
only. Although money is Step
Step 01 the 03
life-blood of an
organization in order to survive and grow, there
Step 04
are other traits or attributes that an entrepreneur
should possess in order to be successful.
Sometimes, even without money, an
entrepreneur can prosper by just utilizing his
abilities and available resources.
Some Myths about Entrepreneurship
4. To be an entrepreneur, a great idea
isStep
the01only ingredient.
Step 03 statement
Such
is just a myth. Unless there is proper
Step 04
combination of all the resources
including proper management, a great
idea shall remain an idea.
Some Myths about Entrepreneurship
5. One wants to be an entrepreneur as
Step 01 no boss is great
having Step 03
fun. Being an
entrepreneur does not mean having no boss.
An entrepreneur always keeps up with Step 04
the
demand of the people and the industry. In
other words, it cannot be said that working
with no boss is a great fun.
Practice Activity 4. Critiquing
Please select andJupiter
criticize at least one among the
aforementioned myths. Write your answer below.
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
RUBRICS
Grammar
5 You committed no or minimal grammatical error in the output
3 You committed two (2) to three (3) errors in the output
PRACTICE TASKS
Please prepare a reflection paper
showing an analysis of customers’ responses
to your product as assigned to you in Practice
Activity No. 1. Please cite at least 5 customer
responses. How are you going to deal with
these responses?
RUBRICS
Content Grammar
5 You were able to cite sensible responses of You committed no or minimal grammatical
customers and you were able discuss the way error in the output
on how you are going to properly address the
customers’ responses.
3 You were able to cite sensible responses of You committed two (2) to three (3) errors in
customers and you were able discuss the way the output
on how you are going to address the
customers’ responses.
Let us assess!
Guide Questions:
1. Which part of the
activities was difficult
to answer? Why?
2. Which part of the
activities was easier to
answer? Why?
POST - TEST
Direction: Read each question carefully and answer the demands of the
following questions.
1. This important function performed by entrepreneur involves his eagerness to do new
things or doing existing things differently.
a. Catalyst of economic development c. Development of management skills b. Research d.
Innovation
2. This type of entrepreneur is a die-hard conservative and ready to suffer the loss of
business.
a. Imitating entrepreneurs c. Fabian entrepreneurs b. Drone entrepreneurs d. Social
entrepreneurs
3. This kind of career opportunity for entrepreneurship graduates allows them to take a
lead in covering a local business beat.
a. Business reporter c. Teacher b. Research & Development personnel d. Sales personnel
POST - TEST
4. To be an entrepreneur, a great idea is the only ingredient.
a. The statement is true c. The statement is slightly true b. The statement is false d. The
statement is slightly false
5. An entrepreneur is a risk shirker.
a. The statement is true c. The statement is slightly true b. The statement is false d. The
statement is slightly false
6. It is a function of an entrepreneur wherein he finalizes an idea only after analyzing
the strength and weaknesses of variety of options by applying analytical techniques,
testing their applicability supplemented by empirical findings and choosing the best
alternative.
a. Innovation c. Research b. Overcoming resistance to change d. Assumption of risk
POST - TEST
7. This type of entrepreneur follows the path shown by innovative entrepreneurs.
a. Social entrepreneur c. Fabian entrepreneur b. Drone entrepreneur d. Imitating
entrepreneur
8. This type of entrepreneur undertakes poverty alleviation objectives and dare to
overcome traditional business practices.
a. Social entrepreneur c. Fabian entrepreneur b. Drone entrepreneur d. Imitating
entrepreneur VII. Post Test 17
9. This type of entrepreneur is skeptical about the changes to be made in the
organization.
a. Social entrepreneur c. Fabian entrepreneur b. Drone entrepreneur d. Imitating
entrepreneur
POST - TEST
10. This career opportunity for entrepreneurship graduate converts the ideas
developed by chief level folks into action.
a. Sales c. Recruiter b. Research & Development d. Mid-level management
11. This career opportunity for entrepreneurship graduate allows them to have a
keen sense of what type of person is needed to fill a certain position.
a. Non-for-profit fundraiser c. Recruiter b. Business consultant d. Mid-level
management
12. This opportunity is an advantage of entrepreneurship graduates because they
know the importance of business and networking relationships.
a. Non-for-profit fundraiser c. Recruiter b. Business consultant d. Mid-level
management
POST - TEST
13. Going into a client site and identifying problems and fix them is one of the
expertise of an entrepreneur. What career opportunity is being described here?
a. Non-for-profit fundraiser c. Recruiter b. Business consultant d. Mid-level
management
14. One wants to be an entrepreneur as having no boss is not fun at all.
a. The statement is true c. The statement is slightly true b. The statement is false d. The
statement is slightly false
15. To be an entrepreneur, one needs money only.
a. The statement is true c. The statement is slightly true b. The statement is false d. The
statement is slightly false
ASSIGNMENT
Try to search for the topic on
how to prepare a business plan.
Please study the process in order to
familiarize yourself on the 3rd
module.
REFERENCES
Brown, J. (2014). The Top 10 Dare Devil Entrepreneurs Who Embrace Risk.
https://addicted2success.com/entrepreneur-profile/the-top-10-dare-devilentrepreneurs-who-embrace-risk/
Cruz, C. (2017). Made by Pinoys: 8 Best Innovations and Inventions in Transportation.
https://www.carmudi.com.ph/journal/made-by-pinoys-8-best-innovationsand-inventions-in-transportation/
Cuervo, et al (n.d.). Entrepreneurship: Concepts, Theory and Perspective. Introduction Nguyen, C. (2016). 7
world-changing inventions that were ridiculed when they came outhttps://www.insider.com/inventions-that-
were-ridiculed-2016-8 Orcullo, N. Jr. (2019). Contemporary Entrepreneurship. New Galaxie Lithographic Arts
and Printing Press, 2000. Quezon City. Pahuja, A. (2015). Introduction to Entrepreneurship. Retrieved from
https://www.researchgate.net/publication/301659818. Villamera, J. (2018). Meet Angelo Casimiro, promising
young Filipino innovator
https://www.rappler.com/move-ph/204441-things-to-know-angelo-casimirofilipino-innovator
https://businessjargons.com/management
https://business.inquirer.net/273445/eight-successful-filipino-entrepreneurs-who-
startedsmall#ixzz6QM2qrtax
https://www.google.com
https://www.top10asia.org/main/rankings/top-10-young-inspiring-filipino-entrepreneurs/
THANK YOU
MGA KA
NEGOSYO!
