ENTREPREN WEEK 2 Module 2

EURSHIP

Name:
____________________________
Section:
____________________________
 Welcome Notes:

WELCOME YOUNG ENTREPRENEURS!!!

Get ready to be challenged. Learn something new
every day by adapting the New Normal.

HOW TO USE THE MODULE?

As you start studying the module, I want you to set aside other task/s that may disturb you while enjoying
the lessons. Read the instructions below to successfully enjoy the objectives of this kit. Have fun!

Follow carefully all the contents and instructions indicated in every page
of the module.
Don’t forget to answer What I Know before moving on to the other
activities included in the module.
Read the instruction carefully before doing each task.
Observe honesty and integrity in doing the tasks and checking your
answers.
Analyze conceptually the post-test and apply what you have learned.
Finish the task at hand before proceeding to the next.
Enjoy studying!
Return this module to your teacher once you are through with it.
If you encounter any difficulty in answering the tasks in this module, do not hesitate to
consult your teacher. Always bear in mind that you are not alone.
 Competencies in Entrepreneurship and Job opportunities
for Entrepreneurship as a career
LESSON
3

At the end of this module, you should be able to:

1. Gain insights about the competencies every Entrepreneur should develop.
2. Explore job opportunities for Entrepreneurship as a career.

You may start your journey in learning more on the competencies of entrepreneur and the job
opportunities for entrepreneurship as a career. Are you excited to answer the Pre-test? Smile and
Enjoy!

PRE-TEST
DIRECTIONS: To check your prior knowledge about the topic, please list down at least five (5)
competencies in entrepreneurship and five (5) job opportunities for
Entrepreneurship as a career.

Competencies in Entrepreneurship Job opportunities for Entrepreneurship as a career

1. 1.
2. 2.
3. 3.
4. 4.
5. 5.

As you go further, let us try to recall about the concept of Entrepreneurship. Entrepreneurship is a
catchword in this era of globalized economy. It is a foundation and catalyst for economic growth and
innovation across nations (Edralin, D. M.,2016).
Common Elements of Entrepreneurship (Edralin, D. M., 2016):
 ● Innovation
● Opportunity seeking and exploitation
● Resource mobilizing
● Encountering risks and uncertainties
● Economic and personal rewards
Roles of Entrepreneurship and Entrepreneurs in Economic Development and Society
(Edralin, D. M., 2016):

● Creates employment
● Develops new markets
● Introduces innovation
● Generates new sources of materials
● Stimulates investment interest in the new business ventures being created
● Improves the quality of life
● Serves as role models
● Brings social benefits to the people
● Utilizes and mobilizes indigenous resources
● Provides more alternatives for consumers

Entrepreneurs are found everywhere around the globe and they are a distinct group of business people
who contribute to the development of the society. They are the founder and creator of the enterprise who
make use of the opportunities that abound to start or grow business, knowing that there are risks involved
in such undertaking (Edralin, D. M., 2016).

MAKE MEANING- INTERNET ASSSISTED ACTIVITY

DIRECTIONS: Give the meaning of the following word/phrase in each item. You may use the
internet to define the given word/phrase.

1. Competency _________________________________________________________

2. Job Opportunities _____________________________________________________

3. Enterprise ___________________________________________________________

4. Creative thinking _____________________________________________________

5. Managing Change ____________________________________________________

Are entrepreneurs born or made?

This question has long been debated with little agreement. However, as cited by Longenecker,
J.G., et.al. (2016), Stephen Spinelli and Robert Adams described entrepreneurs as having and exhibiting
“desirable and acquirable attitudes and behaviors” such as commitment and determination, leadership,
opportunity obsession, risk-takers, motivation to excel, creativity, self-reliance, and adaptability. According
to (www.ideasforleaders.com), competencies such as risk seeking, assertiveness and vision are
considered typical of a successful entrepreneur. But these are innate predispositions or aspects of
temperament; by using them as yardstick, it is wrongly concluded that only certain types of people make
good entrepreneurs or are capable of worthwhile innovations.
Is there such a thing as a ‘natural-born entrepreneur’?
Accordingly there is not. Specific techniques and habits must be practiced and developed by all
would-be entrepreneurs. Aside from business competencies, entrepreneurs need interpersonal and self-
leadership skills too; however, these are often overlooked. Entrepreneurial behavior‟ can be learned and
developed (www.ideasforleaders.com).

The question is not who entrepreneurs are, but what they do, and more important than business
skills can be other competencies that provide a foundation for those business skills
(www.ideasforleaders.com).
Furthermore, according to www.ideasforleaders.com, there are three levels of competencies,
which all entrepreneurs need:
1. Personal competencies – These are your abilities to ground yourself so that you are secure and
self-assured in whatever situation you may find yourself (www.free-management-ebooks.com).
Ex. creativity, determination, integrity, self-criticism.
2. Interpersonal competencies – These are your ability to lead, influence, communicate, supervise,
negotiate, and control people at all levels. It is the ability to get along with people and motivate
people to perform jobs. Entrepreneurs must effectively manage people (baseread.com).
Ex. communication, engagement, delegation
3. Business competencies – These are set of particular abilities and knowledge that sets a company
apart from its competitors (yourbusiness.azcentral.com). It also refers to the key characteristics that
successful entrepreneurs should have in order to be successful (www.mustangbols.com).
Ex. business vision, financial management, networking
Core vs. Common Competencies in Entrepreneurship
Competencies in entrepreneurship play a leading role in making entrepreneurs successful
(baseread.com).
Entrepreneurial competencies facilitate opportunity recognition, help adapt rapidly to
changes, enhances business performance, strengthen the firm‟s competitive position and
stir the achievement of organizational success. It is the sum total of the personality, skills
and knowledge that the entrepreneur possesses, which are necessary to effectively perform
their functions and responsibilities (Edralin, D. M., 2016).
Competence is an underlying personal characteristic which leads to superior performance.
It is a combination of knowledge, skills, attitudes, and motives (baseread.com).
Core competence is the foundation for sharpening a company's competitive edge and it
guides brand reputation, business growth, and marketing strategy
(www.thebalancesmb.com).
Common competence is one that describes the knowledge, skills and abilities found in
most or all position (www.ifpm.nifc.gov).

Examples of Core and Common Competencies in Entrepreneurship

Core Competencies Common Competencies

1. Organizing and Planning 1. Analytical and critical thinking

2. Cash flow management 2. Decision making

 3. Personnel management 3. Leadership

4. Operations and distribution 4. Communication

5. Customer Relations 5. Computer Literacy

6. Bookkeeping/Accounting 6. Human Relations

7. Promotions and Advertising 7. Managing Change

8. Resources Management 8. Creative Thinking

9. Financial Management 9. Time Management

10. Information Management 10. Conflict Management

Job Opportunities for Entrepreneurship as a Career

If you’re an aspiring entrepreneur, there are different career paths you can take to turn your dream
into a reality. Which path you choose will depend on your experience, skills, finances, and flexibility, as well
as your goals for the future (Doyle, A., 2020).
Career opportunities you might pursue according to Michalowicz (2011) as cited
by Edralin, D. M., 2016):

Entrepreneurship Career Opportunities Entrepreneurship Career Opportunities

for the Academic Track for the TECHVOC Track

Fine Arts
● Business Consultant
● Sales ● Artist
● Research and development ● Graphic designer
● Not-for-profit fundraiser ● Photographer
● Teacher ● Art gallery manger
● Talent recruiter ● Film director
● Business reporter
● New venture creation Fashion Designing
● Career in existing entrepreneurial
● ventures ● Designer wear production
● Fashion marketing, planning and
concept management
 ● Fashion media design management
● Fashion accessory design, quality control,
and promotion brands
● Costume designer
● Fashion consultant and personal stylist
● Technical designer and graphic designer
● Fashion coordinator

Sports

● Health club manager

● Strength, wellness or conditioning coach

● Fitness program or event planning manager

● Professional or amateur team manager

● Sports facility manager

● Corporate fitness director

● Rehabilitation center director

● Nutrition center manager

Other TECHVOC Track

● Cook/Chef

● Automotive mechanic

● Electrician

● Technical support specialist

● Tool keeper and technician

● Network support Associate

● Mechanical technologist

Note: Most would-be entrepreneurs, however, remain self-employed, preferring to be the boss.

Reasons why many would like to become an entrepreneur (www.scu.edu):

1. Achievement, Challenge, & Learning
2. Independence & Autonomy – you can set your own goals, pick their own partners, and face the
consequences of your decisions.
3. Income Security and Financial Success
4. Recognition and Status
5. Family
6. Dissatisfaction with Current Work Arrangements
7. Community and Social Motivation

Activity 1. Read and analyze the facts about the competencies in Entrepreneurship below.
Determine whether the statement is TRUE OR FALSE. Write TRUE if the statement is
correct and write FALSE if otherwise.

_______1. Entrepreneurship can be learned by anyone, it’s not something that can simply learn
in a classroom.

_______2. Certain skills, such as communication, delegating and respecting others can only be
acquired through practice and developing “habits of character”.

_______3. Habits or character may not strictly be related to business but are to do with the kind
of person the entrepreneur is and what he/she does.

_______4. An entrepreneur has to have certain cultivated and inherent qualities in order to
make a success of his or her venture.

_______5. Hard work and determination to win have made many successful business people to
reach their aspired goals.

_______6. An Entrepreneur must hesitate for personal or other reasons.

_______7. Business involves many risks, which an entrepreneur must hesitate to take.

_______8. New ideas help make a business venture successful.

_______9. Certain attributes are essential for an Entrepreneur to establish his or her business
on sound footing.

_______10. The only way to acquire the habits essential for entrepreneurs is by acting in a way
inconsistent with them.

Activity 2. Read and analyze the competencies below that every entrepreneur should develop
and identify whether this refers to Personal Competencies, Interpersonal
Competencies, or Business Competencies.
 1. Emotional balance

2. Negotiation skills
3. Leadership skills

4. Persistence
5. Charisma

6. Resource Management skill

7. Resiliency

8. Human relation
9. Respect

10. Tenacity

Activity 3. Word Search: Please search for the ten (10) competencies of an entrepreneur in the box
below. Clues are provided. Encircle the word in the box and write it before the clue.

Competencies of Entrepreneur
R N G E X J F W R E I R N L W
V E N C V C A C I N K M Z H R
C T I S Q I P R C T L N C E O
F W K N X W T H Z E A N S S Y
O O R X N W S A C R I O T P T
L R O I O O D P E P U G A K J
K K W J A O V T D R J N S L H
Z I D H L L F A C I C I C B X
I N R M K N T E T S R R G W D
W G A R B M F O R I T I N M T
N H H Z J U L M S N V N I A U
A C G I L S F K X G L E K B H
B E V I T I T E P M O C A P Y
D E T E R M I N E D R C T H O
T N E D I F N O C B P Y J M Y

Clues:
___________1. Showing assurance and self-reliance
___________2. Firmly resolved
___________3. Capable of devising ways and means
___________4. Showing initiative and willingness to undertake new projects
 ___________5. Having the quality of something created rather than imitated
___________6. Introduce something new or different
___________7. As good as or better than others of a comparable nature
___________8. The act or fact of doing something that involves danger
___________9. Habitually engaged in earnest and energetic work
___________10. The cultivation of productive relationships for employment or business

REMEMBER

● Commonly, competencies such as risk seeking, assertiveness and vision are considered typical
of a successful entrepreneur.
● Entrepreneurial behavior’ can be learned and developed.
● Personal competencies – This are your abilities to ground yourself so that you are secure and
self-assured in whatever situation you may find yourself.
● Interpersonal competencies - It is the ability to lead, influence, communicate, supervise,
negotiate, and control people at all levels. It is the ability to get along with people and motivate
people to perform jobs. Entrepreneurs must effectively manage people.
● Business competencies - is a set of particular abilities and knowledge that sets a company apart
from its competitors. It also refers to the key characteristics that successful entrepreneurs should
have in order to be successful.
● Entrepreneurial competencies refers to the sum total of the personality, skills and knowledge that
the entrepreneur possesses, which are necessary to effectively perform their functions and
responsibilities (Edralin, D. M., 2016).

DIRECTIONS: Aside from the given examples in the above discussions, enumerate what is asked
in the box. Write your answer in the space provided.

Competencies in Entrepreneurship
Personal Competencies:

1.

2.
Interpersonal Competencies:

1.

2.
Business Competencies

1.

2.
Core Competencies:
1.

2.
Common Competencies:

1.

2.
Job Opportunities for Entrepreneurship as a Career

Possible business venture:

1.

2.
Possible full-time job:

1.

2.
Reasons why many would like to become an entrepreneur:

1.

2.

Identification: Read and analyze the statements below and identify whether it requires a
common competency or core competency. Write A if it is a common
competency and B if it is a core competency

_______1. Writing business correspondence.

_______2. Preparing income statement
_______3. Designing for packaging and labeling.
_______4. Relating with staff and co-workers.
 _______5. Managing quality customer service.
_______6. Giving solution to a problem.
_______7. Coordinating with channel of distribution.
_______8. Negotiating with suppliers.
_______9. Adopting to work environment.
_______10. Able to operate computer system and applications.

Multiple Choice: Read and analyze the statements below and then write the letter of the best
answer.

1. Ronald is graduating SHS. After his graduation, he is planning to put up a computer shop. What
core competency he needs to develop?
A. Arts and design B. Systems and application
C. repairs and maintenance D. machine and equipment

2. Leticia is an employee of a fast-food chain. What common competency she needs to develop?
A. Time management B. Managing Conflict
C. Leadership D. Critical thinking

3. Mang Tomas is the owner of the Tomas Welding Shop. What common competency he needs to
develop?
A. Change management B. Human Relations
C. Time management D. AB&C

4. If Promotions and Advertising are core competency in Entrepreneurship; _______is a common

competency in Entrepreneurship.
A. managing sales B. listening to the sentiments of workers
C. coordinating with partners D. Conducting research

5. If a good human relation is to Interpersonal Competency; Visioning is to_____.

A. Personal competency B. Core Competency
C. Common Competency D. Business Competency

REFLECTIVE LEARNING
Entrepreneurship education aids students from all socioeconomic backgrounds to think outside the
box and nurture unconventional talents and skills. Hence, you need to think about and reflect on the
following questions (www.excite.com/education/business/entrepreneurship/careers):

● How long does it take to start a career in entrepreneurship?

The amount of time it takes to make it as an entrepreneur depends on the field you choose
to venture into. Since entrepreneurs can exist in any sector of the economy, there is a vast
and almost never-ending list of paths to choose from. Therefore, you cannot define a single
time-frame for careers in entrepreneurship.
● What are the requirements for a career in entrepreneurship?
The first thing you need to do is find the right business idea and get education according to
it. You will then need to make a business plan and define your target market. Once you have
 established these, you should start networking and selling your idea into your targeted
market.
● How much can I make with a career in entrepreneurship?
The salary figures for entrepreneurs vary according to the field they venture into and how
well their idea sells in the market. If your idea is unique and useful, you might end up making
a lot of money.
● What skills do I need for entrepreneurship career?
To become a successful entrepreneur, you must demonstrate good skills and should be
educated in the field. Some skills that can turn out to be useful are: communication skills,
leadership skills, analysis skills, decision making skills, problem solving skills, critical thinking
skills, and management skills.

Congratulations! You are almost done in this module. Please write your idea on the situation
below.

DIRECTIONS: As would-be Entrepreneur, you are tasked to write down at least 3 career
opportunities which attract you most. Indicate what competencies you need to enhance in
order to become successful in these opportunities.

_________________________________________________________________________
_________________________________________________________________________
_________________________________________________________________________
_________________________________________________________________________
_________________________________________________________________________
_________________________________________________________________________
_________________________________________________________________

E-SITES
To further explore the concept learned today; please watch the video about “Young Entrepreneurs
Success Story”. Follow the link below:

www.youtube.com/watch?v=j7wZogQhmFE

REFERENCES

Books
1. Edralin, D. M. (2016). Entrepreneurship. Vibal Group Inc. Quezon City
2. Longenecker, J. G. (2016). Entrepreneurship. JO-ES Publishing House, Inc. Valenzuela
City
Websites
1. Doyle, A. (2020). The Best Jobs for Aspiring Entrepreneurs. Retrieved from:
https://www.thebalancecareers.com/best-jobs-for-aspiring-entrepreneurs-4160409

2. Shukla, A. (2009). Top 7 Personal Competencies of an Entrepreneur. Retrieved from:

https://www.paggu.com/entrepreneurship/top-7-personal-competencies-of-an
entrepreneur/
3. Tarver, E. (2019). Interpersonal Skills. Retrieved from:
https://www.investopedia.com/terms/i/interpersonal-skills.asp

4. Personal Entrepreneurial Competencies (PECS). Retrieved from:

https://www.mustangbols.com/animation-2d/pecs

5. Three competencies every entrepreneur should develop. Retrieved from:

https://www.ideasforleaders.com/ideas/three-competencies-every- entrepreneur-should-
develop

6. Definition of terms. Retrieved from: https://www.merriam- webster.com/dictionary