Entrepreneurship: Quarter 1 - Module 1: Key Components and Relevance of Entrepreneurship
Entrepreneurship: Quarter 1 - Module 1: Key Components and Relevance of Entrepreneurship
Entrepreneurship: Quarter 1 - Module 1: Key Components and Relevance of Entrepreneurship
Entrepreneurship
Quarter 1 – Module 1:
Key Components and
Relevance of
Entrepreneurship
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Week
SELF-LEARNING MODULE
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What I Need to Know
At the end of this lesson, you are expected to discuss the relevance of
entrepreneurship.
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Lesso
Key Components and Relevance
1 of Entrepreneurship
You might think that “entrepreneurs” are born not made. This does not hold true
for the simple reason that entrepreneurship is a process of coming up of ideas for a
profitable venture. As a profitable venture, entrepreneurship has a worldwide economic
contribution. With this, entrepreneurs have huge role in the development of the country.
And so, as you continue with this module, let’s determine first if you possess some of the
basic traits needed by an entrepreneur.
What’s In
This entrepreneurial self-test is will help you determine if you possess some basic
traits needed by an entrepreneur. The results of the self-test and self-examination of the
guidelines can be a starting point in the discovery of your strengths and weaknesses, and
areas for improvement. The findings can either be a source of encouragement, for those
who seem to possess the traits to be an entrepreneur, and who want to be an
entrepreneur. But for those who did not receive very encouraging results, it is not yet the
end but the start of your journey.
Instruction: Examine yourself on your own personal characteristics and see if you
possess some of the entrepreneurial traits. Check out, too, which areas you can improve
on. As truthfully as you can, check your answer on the following statements.
ENTREPRENEURIAL SELF-TEST
Check your answer
No. Qualities
Yes Maybe No
1. I am persistent
2. When I am interested in a project, I need less sleep.
3. When there is something I want, I keep my goal
clearly in mind.
4. I examine mistakes and learn from them.
5. I keep New Year’s Resolution.
6. I have a strong personal need to succeed.
7. I have new and different ideas.
8. I am adaptable.
9. I am curious.
10. I am intuitive.
11. If something cannot be done, I find a way.
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12 I see problems as challenges
13. I take chances
14. I will gamble on a good idea even if it is not sure thing.
15. To learn something new, I explore unfamiliar objects.
16. I can recover from emotional setbacks.
17. I feel sure of myself.
18. I am a positive person.
19. I experiment with new ways to do things.
20. I am willing to undergo sacrifices to gain possible long-
term rewards.
21. I usually do things my own way.
22. I tend to rebel against authority.
23. I often enjoy being alone.
24. I like being in control.
25. I have a reputation for being stubborn.
Fill up the sheet below based on the score findings and interpretations you obtained.
1. Name:
2. Total Score:
3. Total Score Interpretation:
4. My entrepreneurial qualities that I need to improve (where I answered “No”)
Teacher facilitates an activity that enables learners to use previously taught lesson.
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What’s New
Great! Now that you have already examined yourself if you possess some of the
entrepreneurial traits. Are you now ready for the new lesson? I’m sure you only
thought that entrepreneurship is just selling a product or offering a service kind of
business. Now, you will discover that there is more in entrepreneurship.
Rubrics:
Originality - 20pts.
Creativity - 15pts.
Relevance - 10pts.
Appearance - 5pts.
Total - 50pts.
Processing Questions:
Instruction: Based on the activity, answer the following questions. Write your answer
on the space provided below each number.
2. What comes first in your mind when you make the product?
_ _ _
_ _ _
_ _ _
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_ _ _
5. Are there problems or opportunities that you want to give solutions out of your
product? What are these?
_ _ _
_ _ _
_ _ _
7. What are the benefits that your product could give to the society?
_ _ _
_ _ _
_ _ _
8. Name some characteristics or traits that you found necessary in making the
product.
_ _ _
_ _ _
_ _ __
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What is It
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2. An enterprise can be built on an existing concept, but giving rise to a new
business.
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i. Risk-taker willing to take calculated risks
j. Creativity the ability to come up with clever, workable solutions
k. Business like possessing the knowledge of your chosen business and
Attitude having the savvy to conduct business.
l. Confidence having a firm belief in your own capabilities and your
chances of success.
m. Relation Skills the ability to get along with others, to inspire
cooperation, confidence and loyalty
n. Communication the ability to express yourself and to understand others
Skills so that ideas can be shared.
o. Ability to Make the talents to analyze complex situations and draw
Decisions conclusions that will make the business succeed
Relevance of Entrepreneurship
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WWhhaatt I have Learned
Now, let’s practice what you have learned from the key components and
relevance of entrepreneurship.
Instruction: Answer the following questions below. Write your answer on the space
provided.
1. Describe entrepreneurship.
3. Describe an entrepreneur.
4. What are the entrepreneurial traits? Discuss its importance to the success of the
business venture.
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Now, let’s remember that Entrepreneurship is a process of actions of an
entrepreneur who is always in search of something new to exploit new ideas into
gainful opportunities by accepting the risk and uncertainty of the enterprise.
Let us always put it in our minds that our knowledge of the competencies of
entrepreneurship will help us understand on the real concept of entrepreneurship. It
is also important to recognize that entrepreneurship is essential to the economic
development of the country.
Instruction: Fill the space with word(s) to complete your learning for this
module.
3-6.Entrepreneur derived from the French verb enterprendre which means “to
”. They are innovators, willing to take and generate new
to create and potentially profitable solutions
to modern-day problems.
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What I Can Do
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Activity 5 “My Inspiration”
Instruction: Find some of the successful Filipino entrepreneurs from the Internet
and choose at least one whom you were inspired by his/her success stories, you
can also choose any entrepreneurs near your place whom you know. Find out
how this entrepreneur come up with his venture and what made him to succeed.
Cite lessons learned from his stories of success and what you want to emulate
from his entrepreneurial traits. Write your answer on the space provided.
Entrepreneur’s
Name:
Name of the
Business:
Business Success
Story
How this
entrepreneur come
up with his venture
Traits I want to
emulate from this
entrepreneur
Lessons I learned
from this
entrepreneur’s
success story
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Activity 6 “Overcoming the Unexpected Challenge”
Instruction: A short update on the effect of COVID-19 is given below. From this
update, give your answers on the given question.
“In the midst of the current COVID-19 pandemic, global markets are severely
disrupted. Businesses are forced to explore innovative solutions to overcome the
growing negative implications of this unprecedented crisis.”
Question:
1. If you are an entrepreneur during this time of pandemic, what are the
practical ways you need to do to help prevent the severely disrupted global
market which affect the economic development of the country?
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Assessment
Congratulations! You have achieved the test is given for you to recognize
what you have learned in this module.
Instruction: Read the questions and encircle the correct letter of your answer.
1. Entrepreneurship is an execution of
a. ideas
b. insight
c. instinct
d. intelligence
5. They are innovators, willing to take risks and generate new ideas to create unique
and potentially profitable solutions to modern-day problems. They are those who
undertake the risk of new enterprises.
a. Doctors
b. Engineers
c. Frontliners
d. Entrepreneurs
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7. When an entrepreneur does things before being asked, he has
a. initiative
b. persuasion
c. perseverance
d. self-confidence
9. Mang Inasal took the country by storm because its founder correctly perceived a
need of people for affordable, quick-served inihaw or grilled chicken Thus, this
business was founded and flourish, to the extent of offering very real competition to
Jollibee’s popular Chicken Joy. This type of entrepreneurial enterprise involve
a. an existing business and new concept
b. a new concept giving rise to a new business
c. an existing concept and an existing business
d. an existing concept but giving rise to a new business
10. Steve Jobs created a whole new industry for gadgets for music and boosted the music
industry with his invention of the iPod and the downloading of music through
iTunes. Apple, the company he founded, saw its sales grow by leaps and bounds with
these products. This type of entrepreneurial enterprise involve
a. an existing business and new concept
b. a new concept giving rise to a new business
c. an existing concept and an existing business
d. an existing concept giving rise to a new business
11. Dean of Clean is a laundry business which had three branches in Metro Manila,
mostly in the center and south areas of the metropolis. The son of the owner, while
still in college, was permitted by his parents to set up a fourth branch in Quezon
City. This type of entrepreneurial enterprise involve
a. an existing business and new concept
b. a new concept giving rise to a new business
c. an existing concept and an existing business
d. an existing concept but giving rise to a new business
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13. When entrepreneurs assemble and coordinate physical, human and financial
resources and direct them towards achievement and objectives through
managerial skills, entrepreneurship results in the
a. economic development
b. creation of organizations
c. improvement of standard of living
d. development of managerial capabilities
14. Possession of luxury cars, computers, mobile phones, rapid growth of shopping
malls, etc. all these are due to the efforts of entrepreneurs therefore,
entrepreneurship is
a. creation of organizations
b. a means of economic development
c. development of managerial capabilities
d. a means of improving standard of living
15. When a person creates and uses innovative ideas and maximizes output from
given resources, entrepreneurship is
a. creation of organizations
b. a means of economic development
c. development of managerial capabilities
d. a means of improving standard of living
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Additional Activities
Congratulations! You made it until the end of our lesson. I know you’ve
learned a lot about the key components and relevance of entrepreneurship. Now,
for your additional activities, do this task at home.
Instruction: Identify at least three (3) business enterprise within your vicinity
and make a list of the improvements in your place that these businesses have
contributed. Write your answer on the table.
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