ANGELICA C.

BARRUELA BEED 3A Generalist

Module 5: ENTREPRENEURSHIP

Lesson 1: Introduction to Entrepreneurship and Personal Entrepreneurial

Competencies

Activity

Do you want to get rich like the successful entrepreneurs in your

community? Let’s find out how?

Activity #1:

Before immersing ourselves into the exciting discussion about setting up and running a
business in the most sustainable ways, we will first do inspiration-drawing activity through the
conduct of casual interviews with entrepreneurs in the community. Look for a partner in doing
this. Identify 3 retailers, 3 service providers, and 1 producer. Use the template below for the
interview and in tracking the answers of the selected entrepreneur respondents. Discuss the
responses with your partner and present to your class a brief analysis/report of the interview.

Interview Guides Responses of Entrepreneurs Comments

Retailers Retailers Retailers
Service Service Service
Providers Providers Providers
Students’ guide Students’ guide Students’ guide Students’ guide Students’ guide
questions to be questions to be questions to be questions to be questions to be
used but not used but not used but not used but not used but not
limited to the limited to the limited to the limited to the limited to the
following: following: following: following: following:

Why did you It's simple to There isn't any The salary is I can relate
choose this handle. other option. higher than the because I've
business? average. been through it
all before.
How did you They trained me It's quick, and I They have I wish I could
start it? for several days started working taught and work like them
before I began. the day after I guided me since
ANGELICA C. BARRUELA BEED 3A Generalist

applied. the beginning in the midst of

and continue to schoolwork and
do so today. a pandemic.
What are the Self Confidence Demanding Time I believe I am
challenges you Surroundings Management capable of
met? completing
these tasks.
How did you Every day at the Every day is Every morning It will assist
counter all office. spent with and afternoon them in being
those customers. shift. more effective in
challenges? their work.

Did you I don't suffer I don’t Yes, but we I'll also make
experience from losses. experience have plans for it, plans to keep
losses? How losses. which is why it is things at least
so easily
did you as relaxed as
resolved.
respond to possible.
losses?

Can you share By maintaining a By providing By listening to It's nice, and I'll
some constant smile. them with high- them and do the same.
strategies in quality, making them
respectful smile.
keeping
service.
customers?

What personal Self-assurance Self-sufficiency Perseverance It has many

qualities help and a positive and constant and admirable
this business outlook on life happiness consideration for qualities.
them.
flourish up to
now?

Are you afraid Yes, because Yes, but I don't No, I'm It's incredible
of your they are fold because I declaring war on that they
competitors? extremely see them as them by declared war in
competitive in motivation to be constantly
Why? such a positive
many ways. better. improving
myself and my manner.
business.
Can you give Aim for more Always be on Believe in It's like general
us some pieces and don't be the lookout for yourself and life advice, and I
of entrep-based afraid to take something new your abilities, adore it.
risks. because that is because your
advice?
what the business is a
customers really reflection of
want on the yourself.
inside.
ANGELICA C. BARRUELA BEED 3A Generalist

At this point, let us examine ourselves if we can really become successful entrepreneurs.
Let us know our chances.

Activity #2:

This is a self-examination activity. After knowing the different characteristics that an

entrepreneur must possess, examine yourself if you have these characteristics too. Simply put
check () if that particular characteristic is present in you or an x (X) if you do not possess it.
Comment on your own status by giving possible options that can help you acquire it.

Do I have Realizations (What are my options?)

Characteristics of an this?
Entrepreneur YES NO
1 Optimism ✓ I am a very positive person.
2 Self-confidence ✓ I'm confident enough.
3 Self-control ✓ I have self-control.
4 Commitment ✓ I'm committed to obtaining what I truly
desire.
5 Creatively ✓ In my own way, I'm creative.
6 Well-defined values ✓ Humane values are important to me.
7 High energy level ✓ I'm not a particularly energetic person.
8 Leadership ability ✓ My leadership abilities are mediocre.
9 Desire for responsibility ✓ As long as I'm aware that it's my
responsibility.
1 Decision-making skills ✓ Choosing the best option from the
0 available options.
1 Desire for immediate feedback ✓ I'm looking for well-understood
1 feedback.
1 Strong desire to achieve ✓ I'll get what I want in the end.
2
1 Ability to learn from past ✓ I always applied what I had learned in
3 failures the past.
1 Courage ✓ I have the necessary bravery.
4
ANGELICA C. BARRUELA BEED 3A Generalist

Analysis

Activity # 3
Answer the following questions and write your answer on your notebook.
(Individual Activity)

1. Why is entrepreneurship important?

-Entrepreneurship is important for a variety of reasons, including social change
and innovation. Entrepreneurs are frequently viewed as national assets who should be
nurtured, motivated, and rewarded to the greatest extent possible. Entrepreneurial
ventures help to generate new wealth. Existing businesses may be limited to existing
markets and may have reached a revenue ceiling. Entrepreneurs' new and improved
products, services, or technology enable the creation of new markets and wealth.
Furthermore, increased employment and earnings contribute to increased national
income via increased tax revenue and government spending. This revenue can be
used by the government to invest in other struggling sectors and human capital.
Although some existing players may be made redundant, the government can mitigate
the impact by redirecting surplus wealth to retrain workers. Great business owners
have the ability to change the way we live.

2. How does entrepreneurship contribute to the creation of employment?

-Entrepreneurship is responsible for more than just the creation of new jobs. It's a
full-time job in and of itself. To increase young people's opportunities for productive
work, it is critical not only to teach them the necessary fundamental skills but also to
demonstrate to them that creating jobs as an entrepreneur is an important part of
working. When new businesses enter the market, they create new jobs, which aids in
job growth. New businesses that emerge as a result of new job creation have a direct
employment impact. New businesses that emerge as a result of new job creation have
a direct employment impact. An entrepreneurial venture does not have to be housed
in a small business to create jobs; large entrepreneurial firms create jobs all the time
ANGELICA C. BARRUELA BEED 3A Generalist

as they create new categories and markets, creating jobs that were previously
unimagined.

3. What are the qualities of an Entrepreneur? Give at least 5 and discuss briefly.
 Passion – Entrepreneurs are also driven by a strong sense of purpose. While a
good payday at the end of the tunnel is motivating, entrepreneurs are more
motivated by a passion for their offering as well as a desire to make a
difference. This passion or drive also helps to keep entrepreneurs going during
times when discouragement might otherwise set in.

 Decision-Making Skills – The ability to make quick decisions is an important

trait for entrepreneurs because it can mean the difference between success and
failure. Entrepreneurs must not only have good decision-making skills, but
they must also be able to make those decisions quickly in order to avoid
missing out on opportunities. This necessitates a quick review of the facts
before making a decision.

 Motivation – Entrepreneurs are naturally driven. After all, they work long
hours to get their businesses off the ground and invest large sums of money,
sometimes their entire savings, to pursue their dreams. They do all of this
knowing that the fruits of their labor may take months or even years to bear.
And, despite their efforts, they are aware that there is a chance that their
efforts will not be rewarded materially. Nonetheless, they refuse to succumb
to their fear of failure. To stick with ventures for the long haul, strong
motivation, as well as a steely focus, are required.

 Vision – The best entrepreneurs have a clear vision of what they want to
achieve, how they plan to achieve their objectives, and who they need on their
side to succeed. Their vision serves as a compass, pointing them in the
ANGELICA C. BARRUELA BEED 3A Generalist

direction of opportunities that no one else has discovered. They also have the
ability to communicate their vision to employees and investors. Entrepreneurs
can find people with whom they want to collaborate by participating in
networking events.

 Self-confident – Entrepreneurs cannot succeed unless they have confidence or

self-belief. They must have faith in both themselves and the products or
services they sell. If they believe in themselves, they will be able to persevere
in the face of adversity or discouragement. Get. They also have the guts to
take risks because they believe they will succeed.
ANGELICA C. BARRUELA BEED 3A Generalist

Application

Activity # 4

Research on the success stories of 3 famous Filipino entrepreneurs. Be able to analyze the
personal competencies that made them successful.

Edgar Sia - Mang Inasal

Edgar Sia, from Iloilo City, dropped out of college at the age of 19 to start his own
laundry and photo-developing business. Sia, then 26, decided to open the
barbecue fast food restaurant Mang Inasal—Ilonggo in 2003 for “Mr. Barbecue.”
His first location was in a mall parking lot in his hometown. The restaurant was off
and running. Tony Caktiong decided to purchase Mang Inasal for a total of P5
billion after learning about Sia’s thriving business. Sia eventually diverted the
proceeds from the sale of Mang Inasal to other ventures such as banking and
healthcare. He is the country’s youngest billionaire, at 42 years old.
Risk Taking – He calculate risks by identifying the most beneficial alternative
courses of action to minimize effect of risks in the net profit and a proactive. He
anticipate a loss and counter it with feasible alternatives. In business realities,
seasoned entrepreneurs sometimes take riskier business to get higher profits.
Commitment to the Work Contract – He offer personal sacrifices or give
extraordinary efforts in completing tasks. He accomplished targets on time, as
agreed, to keep customers satisfied.
Goal Setting - He sets goals and objectives which are specific and must guarantee
customer satisfaction. He sets calculated goals and objectives.
Independence and self-confidence – He developed self-trust in the attainment of
goals and objectives. He don’t need external approval before acting constraints
and challenges. Being consultative does not purely mean dependence on others’
advice. An entrepreneur must be brave enough use one’s ability to choose which
alternative course of action is the most appropriate.
ANGELICA C. BARRUELA BEED 3A Generalist

Socorro Ramos - The National Bookstore

Socorro Ramos began her career in publishing and retail as a salesgirl at a
bookstore. At the age of 19, she and her husband opened the National Book
Store in Escolta with a capital of P200, selling books and school supplies to
students. At the time, Manila was under Japanese control, and books and
periodicals were censored. She and her husband supplemented their income by
selling other items such as candles and soaps. The Ramoses built a nine-story
building along Avenida after the post-war boom proved profitable for the
company, bringing in more revenue. She still believes in the time-honored
tradition of “hands-on approach” in business, even at the age of 95. She even
created the company’s logo on her own.
Demand for Efficiency and Quality – She performed business tasks better, faster,
cheaper, but do not put safety and quality aside. She also accomplished tasks by
meeting or exceeding standards of excellence.
Persistence - She faced a significant obstacle with a good plan of action. She
identifies a good alternative for every decision to meet a challenge or overcome
an obstacle. And, She act as the prime mover of resources in the achievement of
goals and objectives.
Independence and self-confidence - She Develop self-trust in the attainment of
goals and objectives. She don’t need external approval before acting constraints
and challenges. Being consultative does not purely mean dependence on others’
advice. An entrepreneur must be brave enough use one’s ability to choose which
alternative course of action is the most appropriate.

Tony Tan Caktiong - Jollibee

Tony Tan Caktiong used to own an ice cream shop before converting it into a
Jollibee fast food restaurant. With a P350,000 start-up capital, the young
Caktiong opened two branches in Cubao and Quiapo with the help of friends
who supported his idea. When customers began to look for options other than
ice cream, Caktiong decided to serve hamburgers, fried chicken, and spaghetti.
As the company grew, he needed to hire more employees. Jollibee was able to
excel as a fast food powerhouse by understanding the Filipino market.
Opportunity Seeking and Initiative - He pays attention to the needs and demands
of people. He never procrastinate. He act immediately on marketable ideas.
Common business are well competed in the market while unique ones offer
lower competition resulting to higher revenues and profit.
Persistence - He faced a significant obstacle with a good plan of action. He
isentifies a good alternative for every decision to meet a challenge or overcome
an obstacle. He act as the prime mover of resources in the achievement of goals
ANGELICA C. BARRUELA BEED 3A Generalist

Let’s check for the chances by filling ourselves with competencies we do not have yet
and work for it while we are in our present growth and development.

Activity #5:
Consider the PECs of successful entrepreneurs. Compare these competencies with you.
As a growing individual can you develop these in yourself?

Do I have Realizations (If Yes how can I improve

Competencies of an Entrepreneur this? this?) (If NO what will I do acquire it?)
YES NO
1 Opportunity Seeking and ✓ By taking responsibility for my own
Initiative success and believing in my own
abilities, I can achieve anything.
2 Risk Taking ✓ By always moving forward and
confronting challenges head-on with
brilliant strategies
3 Demand for Efficiency and ✓ By utilizing newer information and
Quality materials that are highly effective in
the modern era
4 Persistence ✓ By remaining focused on the long-
term goal of achieving business
success.
5 Commitment to the Work ✓ By concentrating on the task at hand,
Contract more work can be completed with less
destruction.
6 Information Seeking ✓ By satisfying one's curiosity
7 Goal setting ✓ By making a plan and sticking to it, I
can achieve my goals.
8 Systematic Planning and ✓ By strategizing to devise the best plan
Monitoring for any given situation
9 Persuasion and Networking ✓ By honing interpersonal and
communication abilities
1 Independence and Self- ✓ By having more faith in yourself
0 confidence
ANGELICA C. BARRUELA BEED 3A Generalist

Reflection

Direction: Below is a reflection figure. Determine what you have learned (the

Knowledge that serves as your foundation to stand and keep); the things you have

realized and appreciated (attitude towards learning) and the things that you

discovered (skills that you will cherish in life). Fill in each part of the reflection figure.

(Individual Activity, but you can share it with your peers)

Things I have learned (Knowledge)

I've learned about the personalities of successful
entrepreneurs, their lifestyles, and their personal
entrepreneurial competencies (PECs).

Things I have realized and appreciated (Attitude)

I discovered that there are many successful
Filipino entrepreneurs whom I was unaware of.
The majority of them are motivated by a strong
sense of purpose.
ANGELICA C. BARRUELA BEED 3A Generalist

Things I have discovered (Skills)

Based on the self-evaluation activity, I
discovered that I can also be an entrepreneur
because I possessed almost all of the
characteristics that a successful entrepreneur
must-have.

Reflection

We have studied the different factors in setting up an entrepreneurial activity. It can be

perceived as a complex activity. The market is so diverse and if we fail to consider one factor
which directly affects our business, we will have to face lots of challenges as consequences.
Albeit challenging, we must remember that wealth accumulation as a return of our legal
investments will also give others opportunities for employment or for making our products and
services available.

The different characteristics, lifestyle, and Personal Entrepreneurial Competencies or

PEC’s of successful entrepreneurs we learned will surely inspire us to do our best to start our
own business. Be optimistic and take the risks. Use the PEC’s we learned and progress into a
life full of challenges that will hone us to become one of the most successful entrepreneurs, one
of these days.
ANGELICA C. BARRUELA BEED 3A Generalist

Post Assessment

Task : Modified True or False. (Individual)

Directions: Read and understand the following statement below.
Write T if the statement is true and write F if the statement is false.
And if you found out that the statement is false, kindly write the
proper word to make the statement true.

___T____ 1. When entrepreneurs face a significant obstacle with a well-planned action, they
have Personal Entrepreneurial Competency known as initiative.
___T____ 2. Systematic planning and monitoring includes schedule periodic gap-proof
monitoring and response activities to determine emergent constraints, challenges, and needs.
___T____ 3. Having the ability to study a market really makes up a successful entrepreneur.

___T____ 4. . Information-seeking and goal-setting belong to planning cluster .

___T____ 5. Anticipating a loss and countering it with feasible alternatives

describes a risk taker.

___T____ 6. Luis is good in convincing his customers that his product is not only of best quality

but also safe to in this situation Luis have personal entrepreneurial competency of persuasion .

___T____ 7. The saying “Necessity is the mother of all inventions” means necessity is invented

by mothers.

___T____ 8. Knowledge alone does not guarantee success in a business.

ANGELICA C. BARRUELA BEED 3A Generalist

___T____ 9. To sustain business, entrepreneurs develop expertise in all tasks including co 10.

nstraints and problem solution.

___T____ 10. People who always feel positive in every effort in order to achieve something are

known to have self-confidence.

Direction: Choose the letter of the correct answer.

1. Which of the following is a common activity of an entrepreneur?

a. Advocating against global warming
b. Delivering goods and services to the market
c. Preaching in different churches or group of churchgoers
d. Volunteering in a community clean-up activity

2. The saying “Necessity is the mother of all inventions” means

a. basic commodities are made for mothers
b. basic commodities are made to satisfy our needs
c. necessity is invented by mothers
d. our mother tells us what we really need

3. What really makes up a successful entrepreneur?

a. Ability to act like a customer
b. Ability to study a market
c. Knowledge, skills, and attitude
d. Knowledge, skills, and money

4. People who always feel positive in every effort in order to achieve something are known to
have _______.
a. courage c. self-confidence b. optimism d. self-control

5. A set of skills that entrepreneurs must possess to take control of the challenges in business is
known as _____.
a. personal business capacities b. personal entrepreneurial competencies
c. professional enterprise competencies d. personally preferred competencies

6. Information-seeking and goal-setting belong to what PEC’s cluster?

a. Achievement cluster c. Planning cluster b. Empower cluster d. Power cluster
ANGELICA C. BARRUELA BEED 3A Generalist

7. Which of the following best describes a risk-taker?

a. Accomplishes targets on time as agreed with customers
b. Anticipates a loss and countering it with feasible alternatives
c. Acts as the prime mover of resources in the achievement of objectives
d. Pays attention to the needs and demands of people

8. Systematic planning and monitoring include the following EXCEPT ______.

a. be logically flexible for the emergent constraints, challenges, and needs
b. a well-organized plan with clearly defined methods
c. Schedule periodic gap-proof monitoring and response activities to determine emergent
constraints, challenges, and needs
d. set calculated goals and objectives

9. When entrepreneurs face a significant obstacle with a well-planned action, they have
Personal Entrepreneurial Competency known as _____.
a. initiative c. persuasion b. Persistence d. risk-taking

10. Luis is good in convincing his customers that his product is not only of best quality but also
safe to use. Many of his customers bought and even returned to buy more of the product
because they want to share it with their friends. What personal entrepreneurial competency
does Luis have?
a. Demand for efficiency and quality c. Persuasion b. Goal setting d. Self-confidence