Technology and
Livelihood Education
Unit 1 – Importance of Entrepreneurship
Lesson 1: Concept of
Entrepreneurship
Objectives
At the end of this lesson, the student should be able to:
a. define the difference between entrepreneur and entrepreneurship;
b. know the characteristic traits of successful entrepreneurs;
c. name some successful entrepreneurs abroad and in the country;
and
d. appreciate how entrepreneurship contributes to the economic
growth of a country.
Vocabulary
Enterprise - a company, business, organization,
or other purposeful endeavor
Explore – to examine carefully
Reliable – dependable or trustworthy
Venture – an undertaking involving chance or risk
What is the difference
between entrepreneur
and entrepreneurship?
Entrepreneur is………
a person who organizes, manages, and
assumes the risk of an enterprise or
business for the purpose of making
profit.
Entrepreneurship is………
a task of managing a business
profitably. It is the set of business
activities performed by an entrepreneur
using available resources effectively
and putting these into ventures that can
earn money for the entrepreneur.
What is the difference between entrepreneur and
entrepreneurship?
An entrepreneur is someone who
dares to take the risk to put
up his/her own business in
order to earn.
E n t r e p r e n e u r
Entrepreneurship is the act of
putting up some kind of
business for the purpose of
earning profit.
E n t r e p r e n e u r s h i p
“Entrepreneurship is a key ingredient
in making the country’s economy
progressive since it creates
employment for people.”
OTHER SOCIO-ECONOMIC BENEFITS FROM
ENTREPRENEURSHIP
1. 2. 3.
It mobilizes the use of capital
resources and establishes
Helps discover
Develops new linkages with people and other
new sources of agencies for possible financial
markets assistance to be used in the
raw materials.
expansion of the business.
4. 5.
It introduces new Creates employment.
technology, new The entrepreneur’s
industries and business creates
new products. jobs for others.
SOME DESIRABLE TRAITS THAT
ENTREPRENEURS SHOULD POSSESS TO
BE SUCCESSFUL:
Hardworking and goal-oriented
With Self confidence
Courageous
Creative and innovative
Responsible
Healthy and cheerful
Helpful and cooperative
SOME SUCCESSFUL
ENTREPRENEURS -
INTERNATIONAL
AND LOCAL
International Entrepreneur...
Founder of Kentucky Fried Chicken (KFC)
1 He pushed to franchise his fried chicken
to restaurant.
He practiced hard work and
determination before he found a
restaurant owner who wanted to sell his
Colonel Sanders
fried chicken.
International Entrepreneur...
Mary Kay Ash Founder of Mary Kay Cosmetics Inc.
She leads her business with strong
faith in God and hard work.
International Entrepreneur...
Founder of Microsoft and one of the
wealthiest person in the world.
3
He used his talents and started the
Microsoft company with a friend using
hard work and determination.
Bill Gates
Local Entrepreneur...
Founder of SM Group of Companies
1 As a young boy, he helped his father
to run a shoe store.
He first named his business Shoe
Mart.
Henry Sy
Local Entrepreneur...
Founder of Jollibee
He first ventured into an ice cream
2 franchise business and later
sandwiches, fries, and fried
chicken.
He later called his business
Tony Tan Caktiong Jollibee. (Before: JOLIBE)
Local Entrepreneur...
She graduated from a local
university and received her
3 diploma in Dermatology abroad.
With her skills, she became a well
known cosmetic practitioner and
aimed to make people look their
Dr. Vicky Belo best.
Local Entrepreneur...
Reyes opened the first mall salon at
SM North Edsa.
4
Reyes did not stop exploring the best
technology in beauty care in his salon.
He shares his blessings with his
employees through his Ricky Reyes
Ricky Reyes Foundation.
Local Entrepreneur...
Nemesio Vega
5
• Known as garment manufacturer and
exporter
• He became an employee but later
ventured into garment production
through bank loans.
• He steered the Philippine-Export
Garment Company to what it is now.
Entrepreneurship can develop
active, self-sufficient, and
productive citizen that will
contribute to their communities.
Do you want to enjoy
the fun of being an
entrepreneur? You may
want to try this activity.
Activity
There are too many recyclable materials such as boxes, news
papers, used papers, bottles, and tin cans. They can be worth a
treasure if you have the habit of collecting and selling them.
Instruction:
1. Sort out the recyclable materials using the big boxes
or empty sacks. (Act as the laborer for your business
enterprise. Be the one to do the task.)
2. Any space in your home will be your business place.
(It can be inside of your house, at your backyard etc.)
3. Your goods include the recyclable materials that
you have collected. (They can be called products.)
4. The nearest junk shop will be your target market.
Inquire for the price that they are willing to pay for
your goods. (Parents can act as the junk shop
owner, if there are no junk shop in your place)
A. Record your business activity by completing the table
below. Write the answer on a piece of paper.
Amount of Material
Price of Materials That You Amount Collected
Recyclable Materials That You Have
Have Sold (Profit)
Gathered
1. Newspaper _______ kilos _______ per kilo __________
2. Used papers _______ kilos _______ per kilo __________
3. Boxes _______ kilos _______ per kilo __________
4. Bottles _______ bottles _______per bottle __________
B. Answer the following questions. Write the answer on a piece of
paper.
1. 2.
Did you encounter any
How much did you problem while doing
earn from this this activity? If yes,
activity? what are these
problems?
