K-6

ARELLANO UNIVERSITY
“For God and Country”

Essential Lesson 1
The Ideal Entrepreneur

● ESSENTIAL LEARNING OUTCOME

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

● LECTURE NOTES
You may learn more about the purpose and value of entrepreneurship in the first session. Your investigation
will lead you to the realization that a good entrepreneur's traits have a bigger influence and effect on local
product sales. Needs in business turn into possibilities. Your needs in life might be met by what other people
require.

https://www.esquiremag.ph/tag/andres-bonifacio

Read and Analyze:

Andres Bonifacio was one of our great heroes. He was called the Supremo of the Kataas-taasan, Kagalang-
galangangKatipunanngmgaAnakng Bayan (KKK) or in short, Katipunan. He led the Filipinos in the revolt against
the Spain.

But do you know that Andres Bonifacio was an entrepreneur when he was very young?

Blessed with skilled hands in craftmanship and visual arts, he made canes for men and paper fans for women
and sold them on the church patio. With the money that he earned; they were able to survive.

Let us analyze clearly how Andres became an entrepreneur. First of all, he thought of a way to earn money.
He planned how they would survive, and how would raise an income to spend for their needs. He used the
raw materials available in the community, and with meager capital, he was able to create products to be able
to sell. With the community of Tondo as his marketplace, he earned profits to support his family. Andres
Bonifacio was a real entrepreneur in his own way.

Explained Definition Entrepreneurship

Entrepreneurship is the process of creating, launching, and managing a business operation.

What is an ENTREPRENEUR?

An entrepreneur is someone willing to put up the capital needed to set up a business fully aware of the
risks involved.

A good entrepreneur is somebody who is people-oriented. There are different characteristics of a good
entrepreneur that can contribute to the success of one's business.

These are some of the characteristics a good entrepreneur must possess:

1.CARING - understands the feelings, concerns, and needs of not only his customers but also of his workers.

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ARELLANO UNIVERSITY
“For God and Country”

2.INDUSTRIOUS – displays hard work and perseverance in the face of challenges; utilizes skills to diligently
carry out tasks or make goods.

3.INNOVATIVE - has the ability to envision future needs and demands and create new opportunities, and
services to meet these demands.

4.HONEST – Does not engage in deceptive or fraudulent acts; Displays sincerity at all times.

5.PERSISTENT – Does not easily give up or let go.

6.PRUDENT – is never wasteful and always ensures that all resources are used wisely and every bit of raw
materials must not go to waste.

7.DETERMINED – is a go-getter and an achiever. Acting on a dream, vision, and plan. No matter how hard it
may seem at first.

8.HELPFUL – Always available to provide assistance.

9.FAITHFUL – Conducts business fairly and cultivates a culture of righteousness.

10.ORGANIZED – Is able to adapt to any change yet remain logical and organized.

11.CONFIDENT – feels or shows certainty, of success.

12.STRATEGIST – is a careful planner; Sets long-term goal and plans and execute a well-thought strategy in
order to achieve them.

13. WITH PHILOSOPHY – strives for excellence and perfection to exceed customer expectations.

14. KNOWLEDGABLE – are well trained and possess information and understanding of concepts necessary to
run a business venture.

15. RISK TAKER – takes calculated risks and knows how to match opportunities with market realities.

THE SELLER AND THE BUYER

The SELLER is the one who meets the needs and demands of the buyer with the corresponding amount of
money. He offers goods, products, and services for a certain amount to earn a profit. At the same time, the
BUYER is the person who buys the products or services to satisfy his needs. The buyer is also called a
CONSUMER or an END-USER.

Characteristics of a Good Seller

1. Passion is real. There is passion that fuels them to do their best every day.
2. Practicality versus Impracticality. Imagining and envisioning the future of once business is beneficial
to keep the business operating and expanding.
3. Win-win process.Entrepreneurs should develop products and services that can satisfy both the
costumers and the entrepreneurs themselves.
4. The customers. Entrepreneurs must identify the different types of customers and the market
demands to help them come up with smart promotional strategies.
5. The products and services. The products and services must pass the regulatory and statutory
standards of the business organizations and industry.
6. The needs and wants. Sometimes entrepreneurs do not consider the needs and wants of consumers
as two different categories since they find opportunities in both of them.
7. The strategies. According to Walt Disney, “If you can’t make it good, at least make it look better”.

A good entrepreneur must be a smart buyer too because he must purchase the raw materials that he needs
for his products.

Characteristics of a Good Buyer

1. Keen Observer. A good buyer observes if other consumers are satisfied with certain products or
services.

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ARELLANO UNIVERSITY
“For God and Country”

2. Well-informed buyer. A good buyer is aware of his or her rights as a buyer. He or she is knowledgeable
about the different government and non-governmental organizations that can help him or her when
he or she encounters problems in products or services of the business or company.
3. Mindful reader. He or she is attentive to the details of the products and services. He or she reads the
product labels such as directions, ingredients and manufacturing date and expiration date.
4. Clever buyer. Receipts are printed details that contains the list of names, prices and total amount of
the products or services.
5. Strategic buyer. Wise buyers classify their needs from wants. They know how to prioritize and handle
their needs and wants.
REMEMBER

A good entrepreneur is always alert to the needs of the community. Whatever the community needs.

● ESSENTIAL QUESTIONS
After reading the Lecture Notes, answer the three questions following the number of sentences indicated
therein.

● Why does a good entrepreneur need to become a good buyer? Explain your answer in 1-2 sentences.

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● What are the characteristics of a good buyer? Explain your answer in 1-2 sentences.

________________________________________________________________________________________
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● Why do the prices become lower when there is more supply of goods? Explain your answer in 1-2
sentences.

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● FORMATIVE TEST
Identify which statement describes a buyer (B) and a seller (S).

Write B for Buyer and S for Seller.

______1. Vivian can explain very well the advantages of the new brand of detergent soap that she is

endorsing.

______2. Sheila chooses the brand of milk where she earns extra points so that later she can exchange the

points for a cellphone load.

______3. Mr. Nestor Uy uses his connections with dealers to purchase at discounted prices.

______4. Mary patronizes a brand of pizza that offers free home delivery.

______5. Cristina bakes mini-carrot cakes which she delivers to a convenience store.

______6. Leo offers unconditional satisfaction, money back guarantees on the printer settings that he is

offering.

______7. Mrs. Villegas pays for a commercial ad in the newspaper to advertise her school.

______8. In the course of the holidays, Mr. de Mesa extends his business hours.

______9. A certain brand of chocolate's product labels arecarefully read by Susan.

______10. Joan compares the prices of the various brands of flat irons before she makes her decision

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