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12K views71 pages

Gentrep Module

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CHIARA FAJARDO

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MODULE IN

ENTREPRENEURIAL MIND

GENTREP

Entrepreneurship, Human Resources Development and

Marketing

School of Accountancy, Management, Computing and

Information Studies
SCHOOL
Property of and for the exclusive use of SLU. Reproduction, storing in a retrieval system, distributing, uploading or posting online, or transmitting in any form or by any
means, electronic, mechanical, photocopying, recording, or otherwise of any part of this document, without the prior written permission of SLU, is strictly prohibited.
GENTREP

COURSE LEARNING OUTCOMES

At the end of this course, you should be
able to:
1. Relate SLU’s core values of Christian
Spirit, competence, creativity and
social involvement to your personal
and professional vision;
2. Discuss the role of entrepreneurship
in socio-economic development;
3. Manifest improvement in your
understanding and appreciation of
entrepreneurship;
4. Discuss the entrepreneurial mind set
needed to engage in the
entrepreneurial process;
5. Discuss the entrepreneurial mindset
manifested by entrepreneurs as their
entrepreneurial life stories are
reviewed;
6. Manifest the development of your
entrepreneurial mind set;
7. Apply critical thinking and problem-
ENTREPRENEURIAL MIND based learning in identifying and
evaluating new opportunities and new
product ideas that are responsive to
current business and environmental
challenges, according to your field of
discipline;
8. Design and pitch new and innovative
product ideas using the business
model canvas.

COURSE INTRODUCTION

Hi, Louisian Learners! Welcome to GENTREP!

We live in the entrepreneurial age, an age that has evolved from and will be as
important as the industrial age and the information age before it. In these preceding
ages, humans have learned the importance of using the sciences and information in our
pursuit of satisfying our individual and collective needs. The entrepreneurial age is not
meant to replace them, but to extend them as our human society marches on, as it
continues to evolve.

In the industrial age, humans have learned to organize ourselves as we learned the
value of harmoniously working together and of contributing whatever each one is best at
in our collective effort to achieve our common aspirations. And even then, organizations
thrived through entrepreneurial efforts manifested by the innovative, change-adept and
risk-taking minds that led and comprised them. It is through these mind sets, these ways of
thinking and of living that organizations provide solutions to the various crucial
environmental and societal problems that we face. As organizations respond to the call for
innovation, jobs are created, societal problems are solved, the world is transformed and
the entrepreneurial individuals, organizations and societies profit.

However, entrepreneurship is a journey least taken. It may be attributed to fear and

to failure: not just the fear of failure in being an entrepreneur, but the failure to appreciate
the value of providing entrepreneurship education. Instead, young individuals are
inculcated with the mindset to be intellectual, highly performing employees. Hence, since
their youth, individuals are set to be someone other than an entrepreneur or, even if they
may not eventually turn out to be business people, they are not molded with
entrepreneurial mind sets.

As the governments in highly progressive countries have long realized, the Philippine
government has also seen the need to develop entrepreneurial mind set in young Filipinos,
which led to the approval of the Youth Entrepreneurship Act in 2015. Following this initiative,
the Department of Education (DepEd) and the Commission on Higher Education (CHEd)
have endorsed the inclusion of Entrepreneurship in Senior High School education and of
The Entrepreneurial Mind as a general course offering in tertiary education, respectively.
Hopefully, through these actions, students may come to develop the entrepreneurial mind
set and to adopt the perspectives of entrepreneurship and apply it in their chosen field of
discipline and profession.

This module serves as a reference to ensure that you will be guided on the course
activities, intended learning outcomes, and course requirements.

The content of this module is a compilation from different sources by Lorraine Ngaosi.

Study Schedule Course Requirements

The table below shows the course requirements and schedule of course activities.
Follow the schedule of course activities, remind yourself of deadlines. Read in advance. Try
to anticipate possible conflicts between your personal schedule and the course schedule,
and make the appropriate adjustments. It is important to prepare in advance any
assignment that may be due within the given deadline. Observe deadlines. Inform the
facilitator in advance about any unavoidable delays. Read through the modules for the
instructions for the activities.

Midterm coverage: module 1, module 2, and module 3. Final coverage: Module4

and module 5.

1. Understand the theories on Engage: reflect on your role in socio-

economic development economic development; probe
2. Deduce the impact of presence of MSMEs. 15 points.
entrepreneurship in socio-economic 6/21/21
development Explore: Factors influencing
economic development; MSME’s
Unit 2 Government support to MSME’s in the Explain: Describe the different
Philippines economic development theories
1. Classify the MSMEs in the Philippines Elaborate: theories; government
2. Advance search the impact of programs
MSMEs in context of employment Evaluate:
3. Understand that the government Relationship mind map. 20 points.
empower the MSMEs through the 6/24/21
different government agencies’
assistance programs and policies
Module 3 JOURNEY TO ENTREPRENEURIAL DEVELOPMENT
3RD WEEK
Unit 1 Personal entrepreneurial competencies
1. Validate their entrepreneurial Engage: Know the level of their
competencies personal entrepreneurial
2. Develop the personal competencies; assess thy
entrepreneurial competencies entrepreneurial mind. (PEC-15 pts;
Unit 2 Entrepreneurial mindset assessments, 10 pts) Due 6/26/ 2021
Explore: Discover the weakness and
1. Understand the concept of strengths; Attributes of EM; dimensions
entrepreneurial mind of EO;
2. Develop the entrepreneurial mind Explain: entrepreneurial mind;
Unit 3 Entrepreneurial Organization Elaborate: visit websites growth mind

Submit Final requirements before the end of finals. Please check date of submissions in
the Google Classroom.

THE ENTREPRENEURIAL JOURNEY

In life, before you commence to any journey, you assess if that journey is right for you.
That is the purpose of the first stage in this entrepreneurial journey. You examine yourself if
you do have the passion and interest in pursuing your entrepreneurial activities. When you
start to measure up yourself and ask “how entrepreneurial am I?” your entrepreneurial
journey has begun. The outstanding entrepreneur has to have the passion in what he is
doing. Having no passion in what you are doing will guarantee failure. Interest dictates
commitment. Starting a new enterprise entails total commitment in order to stay in the
journey. Without commitment, eventually you decide to divorce yourself from the journey.
One has to love what he is doing, to be passionate about it, in order to succeed in it.

Once you know that you have the entrepreneurial passion, examine if you have the
skills needed to become a superb entrepreneur. Do you have what it takes to be an
entrepreneur? Do you have the right stuff to be an outstanding entrepreneur– the mindset,
the attitudes, the competencies? Can you perform the roles and tasks of an entrepreneur?
Do you think and behave like one? These are some of the questions that you should consider
during your entrepreneurial assessment. As you will see, answering ‘no’ to these questions
does not mean that you should not be an entrepreneur or cannot be entrepreneurial; it only
means that you are not yet one, but can become one as you develop through this course.
This stage is the core of Module 1, Module 2 and Module 3 of this course.

The second stage in your entrepreneurial journey is problem discovery through

environmental scanning and opportunity identification and evaluation. Now that you know
and have developed the passion and the capability to do entrepreneurship, you will scan
your environment to be able to search for societal problems that that can eventually be
turned into business opportunities. Employ your passion for the welfare of the society. As
Guy Kawaski said “Call me idealistic, but the genesis of great companies is answering
simple questions that change the world, not the desire to become rich.” It is the intention of
this course to mold you to contribute to the society through the development of businesses
and eventually prosper yourself. This stage is a critical and challenging task for every
entrepreneur. Not all businesses that failed are due to the absence of opportunities, but
because of the incapability of the entrepreneur to spot them, assess which of them is the
most advantageous to pursue, and to derive clear business ideas from it. This stage is the
focus in Module 4 of this course.

Once a problem is discovered and a business opportunity has been selected

through the ideation process, development of the concept comes next by way of solution
discovery stage. This solution discovery entails development of the product concept fitting
for the solution of the problem identified. Develop the product concept through the
product ideation and development process. In this course, this is the heart of Module 5.

The last stage is the growth discovery which is the stage where strategies are
develop to keep the business going and to derive the most benefit from.

Entrepreneurs realize that the entrepreneurial process is cyclical, a continuous spiral

of development that entrepreneurs go through as they evolve together with their
enterprises in their entrepreneurial journey.

Every entrepreneur, whether operating a micro, small, medium or large business,

undergo these series of stages. This entrepreneurial journey serves as guide in this
entrepreneurial mind course. The focus of this course will be first 3 stages; self-discovery,
problem discovery and solution discovery.

Self-discovery

Growth Problem
discovery discovery

Business Model Solution

Discovery discovery
Figure 1: The entrepreneurial journey

Module I: Journey to self-discovery through

entrepreneurship
This introductory module hopes to build your appreciation towards entrepreneurship not
necessarily to start a business but to solve problems and eventually create a mindset to
prosper yourself and be a better person. With entrepreneurship, you may able to have a
deep self-discovery on how you can contribute to the society. Either as a Louisian

Moreover, this module will allow you to revisit the core values of Saint Louis University
and align them to your personal values which eventually be aligned to your personal and
professional vision. Your values such as competence, creativity, Christian spirit, social
involvement, passion, and commitment are what our society needs. These are the
groundwork of any organization’s success. Hence, this module 1 will take you to the
discovery of your values.

With your self-discovery and comprehension of entrepreneurship, we hope you can

discover how you can contribute to the society through implementation of
entrepreneurship in your chosen career.

Learning outcomes:

At the end of module I, you should have achieved the following topic learning outcomes:
1. Understand the significance of SLU’s core values in entrepreneurial undertakings
2. Understand and have an in-depth knowledge of entrepreneurship and realize its
relevance to your field of discipline.
3. Classify the various forms of entrepreneurship

The topics to be tackled in order to realize the topic learning outcomes are the following:
1. Personal values discovery
2. Understanding entrepreneurship
• Why entrepreneurship education?
• Evolution of entrepreneurship
• Definition of entrepreneurship
• Myths of entrepreneurship
• Entrepreneurial schools of thought
3. Categories of entrepreneurship

ENGAGE ACTIVITY

PERSONAL VALUE DISCOVERY: Think of your ten values, including your four Louisian values,
that are significant in your decision making and rank them as to importance. Write them in
the boxes provided.

1 2 3 4 5

6 7 8 9 10

Of the ten, which is the most important for your decision making? Elucidate your reasoning.

“Your vision will become clear only when you can look into your own
heart. Who looks outside, dreams; who looks inside, awakes”. Carl Jung

What does Carl Jung mean with this? Living without perusing what is in your heart is
just like living in a dream—somebody else’s dream. To be awake is to look inside your heart.
When you look inside your heart, you will discover a lot about yourself—who you are, what
you want, what you believe in. Hence, when you look inside your heart, your vision
becomes clear.

So, do you look inside or do you look outside your heart? Let us have a simple test if
you look inside or outside your heart with this question. Whose decision it is for you to enroll
in your program/major? Was it your own decision or other’s decision. If it was your decision,
why did you enroll your program? If other’s choice, why?

If your program is somebody else’s choice, then you were looking outside, thus, you
were living in a dream—somebody else’s dream. If it was your choice, then you were
looking inside—living awake to chase your vision.

Why having a vision significant? Vision gives you direction. Having a clear vision is
following the journey you set for yourself, not the path your parents, family, friends, or the
society would want you to follow.

You make big decisions on your own. Having a vision will direct you to a sound,
intelligent decision to take.

Personal values. Personal values are foundation of your vision. These values
describe your core as a person. Moreover, values give you clarity and help you build up
your self-awareness. Your highest values will serve as guide in creating better decisions and
results leading to a more balanced life. This explains the engage activity. Thus, when
making important decisions in life, check if decisions are aligned to your core values.

Implication to entrepreneurship. To create a successful enterprise, you need to

have clear view of your inner self—take a look inside your heart to know your personal
values. What hinders you to know yourself if looking outside—being dependent to what
parents, friends, society dictates. The personal discovery is a conscious route to self
discernment. Understanding one’s self is a critical step in creating a meaningful enterprise.

Thus, find time for your personal values discovery. Know not only by your head, but
more with your heart. Whether you start an enterprise or be an employee, remember that
your decision-making will always impact people, environment and the next generation.
Hence, it is critical that you always think of the values you deem are most important. These
values become core of your company.

In the same vein, your personal values, vision, mission and goals are foundation for
your company vision and mission.

Saint Louis University Vision-Mission Statement

“We envision Saint Louis University as an excellent missionary and transformative

educational institution zealous in developing human resources imbued with the Christian
Spirit and who are creative, competent and socially involved.”

SLU Core values:

1. Christian spirit
2. Creativity
3. Competence
4. Social Involvement

Why Entrepreneurship Education

Republic Act No 10679
Because universities focus on traditional programs, the Philippine government
approved the Youth Entrepreneurship Act in 2015 to promote the sustained
development of young Filipinos in the areas of finance and entrepreneurship. Through
this Act, the government intends to change the mindset of Filipinos – from wanting to
be employees to being business owners. Initiatives under this law include standardizing
the current programs of schools on entrepreneurship and financial literacy, providing
government assistance and training programs to students, developing mentoring and
coaching programs for young entrepreneurs, and setting up incubation laboratories
and creative spaces in schools.

Entrepreneurial Louisians

As emphasized in the introduction of this course, this entrepreneurship course is for you
learners to ignite your entrepreneurial spirit and to be innovators in your chosen career
path and thus, able to introduce changes in your field of discipline – changes that
transform the world for the better.

“The purpose of innovation in higher education is to create entrepreneurial universities

with graduates who will be change-adept to meet the emerging challenges of an
evolving world” Rev. Fr. Gilbert Sales, CICM, PhD.

With entrepreneurship education, entrepreneurial Louisians will create value in their

chosen profession, which is a concept of careerpreneurship. With careerpreneurship,
you now “entrepreneurial” your career, hence making yourself valuable.

Evolution of entrepreneurship
The word Entrepreneur is derived from the French entreprendre, meaning “to
undertake.” It was a term coined by Richard Cantillon, a French economist.

a. The entrepreneur is one who undertakes to organize, manage, and assume the
risks of a business.
b. Although no single definition of entrepreneur exists and no one profile can
represent today’s entrepreneur, research is providing an increasingly sharper
focus on the subject.

Definition of entrepreneurship
Ø Entrepreneurship is a mindset. It is not only about the creation of a business, but rather it
involves seeking opportunities, taking risks beyond security and having the tenacity to
push an idea through to reality.
Ø In the book of Kuratko, an integrated definition states that entrepreneurship is a
dynamic process of vision, change, and creation.
Ø Essential components of entrepreneurship include the following:
• The willingness to take calculated risks—in terms of time, equity, or career.
• The ability to formulate an effective venture team; the creative skill to marshal
needed resources.
• The fundamental skills of building a solid business plan.
• The vision to recognize opportunity where others see chaos, contradiction, and
confusion.

Ø To have a better perspective on entrepreneurship, let us look into this contribution by

the Commission Communication “Fostering entrepreneurial mindsets through education
and learning” COM(2006).

“Entrepreneurship refers to an individual’s ability to turn ideas into action. It includes

creativity, innovation and risk taking, as well as the ability to plan and manage
projects in order to achieve objectives. This supports everyone in day-to-day life at
home and in society, makes employees more aware of the context of their work

Myths of entrepreneurship

To have a good grasp of entrepreneurship, we need to dispel misconceptions that were

created due to lack of research in the past.

Myth 1: Entrepreneurs Are Doers, Not Thinkers

• Entrepreneurs are actually doers at the same time that they are thinkers. We
need entrepreneurs who lead us with clear vision and serve as role models in
achieving the company’s aims and purposes.

Myth 2: Entrepreneurs Are Born, Not Made

• Entrepreneurs are either born or made. There are innate traits that entrepreneurs
are born with. Likewise, there are models and processes that need to be studied
and knowledge that are to be acquired; hence, the purpose why
entrepreneurship is taught.

Myth 3: Entrepreneurs Are Always Inventors.

• Not all inventors end as entrepreneurs; not all entrepreneurs are inventors.
Entrepreneurs are innovators, though.

Myth 4: Entrepreneurs Are Academic and Social Misfits

• Not all drop outs are successful entrepreneurs; not all successful entrepreneurs
are drop outs. Likewise, entrepreneurs are recognized in and by society due to
their enormous contributions. Today, entrepreneurs are considered as heroes –
socially, economically and academically.

Myth 5: Entrepreneurs Must Fit the “Profile”

• There is no such profile of an entrepreneur. Entrepreneurs are as varied as they
come.

Myth 6: All Entrepreneurs Need Is Money

• We need ideas to start with an entrepreneurial undertaking, not only money.
There are other factors contributing to the failure of a business, such as poor
financial planning, managerial incompetence, poor investments and poor
planning.

Myth 7: All Entrepreneurs Need Is Luck

• You need hard work to be successful. Actually, luck happens with preparation,
determination, desire, knowledge and innovativeness.

Myth 8: Ignorance Is Bliss for Entrepreneurs

• You need the right information/data when making decisions.

Myth 9: Entrepreneurs Seek Success but Experience High Failure Rates

Myth 10: Entrepreneurs Are Extreme Risk Takers.

• Entrepreneurs are calculated or moderate risk takers; neither low risk taker nor
high risk taker (gambler). As a moderate risk taker, the entrepreneur weigh
chances of failure or success before taking action.

Entrepreneurial Schools of Thought

The schools of thought provide us with perspectives on what factors influence one to
entertain entrepreneurial thoughts; factors that relate to the success or failure of
entrepreneurial ventures. There are two viewpoints – the macro and the micro views.

Macro View. The macro view of entrepreneurship includes external factors that are
beyond the control of the entrepreneur, but could affect him/her.

v The environmental school of thought

• Considers the external factors that influence a potential entrepreneur’s lifestyle.
These could be positive or negative factors that mold the entrepreneur’s
entrepreneurial desires. Example, the pandemic situation may influence one to
be an entrepreneur.

v The financial school of thought

• Based on the capital-seeking process — the search for seed and growth capital.
Availability of funds needed for potential business venture may influence one to
be an entrepreneur.

v The displacement school of thought

• Alienation drives entrepreneurial pursuits. Displacement focuses on the negative
factors. Frustrations will drive you to your entrepreneurial pursuits.
§ Political displacement. Examples are governmental regulations or policies
that limit certain industries, causing job displacement and turning toward
entrepreneurship.
§ Cultural displacement. Examples are ethical background, religion, race and
sex factors that drive people away from standard professions and toward
entrepreneurial ventures.
§ Economic displacement. Economic variations of recession and depression
can create the foundation for entrepreneurial interest. Example is the loss of
their job during this pandemic, which prompted some to be entrepreneurial.

Micro View. The micro view of entrepreneurship examines the factors that are specific
to entrepreneurship.

v The entrepreneurial trait school of thought

v The venture opportunity school of thought

• Focuses on the opportunity aspect of venture development. The more idea
sources and resources that are available for the development of business
concepts and their implementation to take advantage of venture opportunities,
the more people are motivated to be entrepreneurs.

v The strategic formulation school of thought

• Emphasizes the planning process in successful venture management and
development. Involves establishing a business venture with all its internal factors
aligned with each other and with the external forces as the entrepreneur pursues
the venture’s vision and mission, its dream and purpose.

KEY POINTS:
Entrepreneurship is a MINDSET.
It is about CHANGE and DEVELOPMENT.
It is about CONSTRUCTION and VALUE CREATION.
It is about INNOVATION and CREATIVITY
It embraces RISK and UNCERTAINTY

Topic 3: Categories of entrepreneurship

Entrepreneurship comes in different forms. It may be corporate entrepreneurship
(intrapreneurship), technopreneurship, ecopreneurship and/or social entrepreneurship, to
name a few. An understanding of these variations of entrepreneurship will help you decide
which one to become – will you be a corporate entrepreneur? a technopreneur? an
ecopreneur? or a social entrepreneur?

A. Corporate entrepreneurship

It is also referred to as intrapreneurship. This is entrepreneurship WITHIN existing

organizations or companies. It is observed when the company organizes its structure to
instigate innovation within the company. The corporate entrepreneurs are managers or
employees who lead the company to NEW directions. Companies that encourage
intrapreneurial environment motivate their employees to take initiative, commitment
and risk taking. This is an option for non-BS Entrepreneurship learners who have set their
minds to work in existing companies, not just employees, but as entrepreneurial
employees and managers.

B. Technopreneurship

This involves doing business with the use of technology in transforming ideas into
products; use of new technology in the enhancement of the existing operations. It is
said that the first use of term technopreneur was in 1987.

For example, it is the aim of SLU’s School of the Engineering and Architecture (SEA) to
produce learners who will be technopreneur engineers and architects.

C. Ecopreneurship

Ecopreneurship involves the use of entrepreneurship principles in crafting businesses

that solve environmental problems or that operate sustainably. (Wikipedia)

An ecopreneur is an entrepreneur whose business efforts are not only driven by profit,
but also by a concern for the environment (Schuyler, 1998).

D. Social entrepreneurship

This is a new form of entrepreneurship, which focuses on solving social problems through
innovation and risk taking; venturing into business in pursuit of a social mission. This is
different from the concept of corporate social responsibility. Characteristics of Social
Entrepreneurs as Change Agents are:

• Adoption of a mission to create and sustain social value (beyond personal value)
• Recognition and relentless pursuit of opportunities for social value
• Engagement in continuous innovation and learning
• Action beyond the limited resources at hand
• Heightened sense of accountability

These four varieties of entrepreneurship that were introduced here are applicable both to
BS Entrepreneurship and non-BS Entrepreneurship learners. You can also be an
intrapreneur, technopreneur, ecopreneur and social entrepreneur all at the same time.

ACTIVITIES

Evaluate activity: Read: Module 1.

1. Fast forward to 2027. You are now practicing your profession as a

SLU BS _____ graduate. Describe yourself as a person and a
professional manifesting in your life each of the SLU core values. You
may follow this format: 25 points

A. As a person and a/an _____ who is imbued with the Christian

Spirit, I am....
B. As a person and a/an _____ who is socially involved, I am....

Note: 3 to 5 sentences per core value. 5 points per core value

2.Explain how developing each of the SLU core values in your life is compatible with learning
how to think and act like an entrepreneur. 7 to 10 sentences. (10 pts)

Short bond paper; 1-inch all borders; Arial 12. maximum: 2 pages

References

Bruce R. and R. Duane Ireland. (2006). Entrepreneurship Successfully Launching New

Ventures. New Jersey, Pearson Education, Inc.
Dess, G., Lumpkin, G.T., and Eisner, A.B. (2010). Strategic Management: creating
Competitive Advantages. McGraw-Hill.
Diaz, P., Fajardo, H., (2015). Entrepreneurship Study and Practice. Small Enterprise and
Research Development Foundation, Manila.
Kuratko D. (2017). Entrepreneurship Theory, Process, Practice. Cengage Learning. 10th
edition, 2017
Kuratko D. Corporate Entrepreneurship

Small Enterprise and Research Development Foundation and UPISSI. (2007). Introduction
to Entrepreneurship. revised edition, Manila 2007.
Small Enterprise and Research Development Foundation and UPISSI. (2013). Windows to
Entrepreneurship A teaching Guide. Manila, 2013.

Pontifical Council for Justice and Peace (2012). Vocation of the Business Leader: A
Reflection

Read stories of entrepreneurs through the: The Entrepreneur Magazine,

https://www.entrepreneur.com/magazine

MODULE 2: Entrepreneurship Discovery

Module 2 further your discovery about entrepreneurship. The focal of your
entrepreneurial discovery concentrates on the socio-economic development. It is with
belief that a deep understanding on the key role of entrepreneurship to the socio-
economic development will stir your interest towards entrepreneurship.

You are tasked to read newspapers/magazines about changes to the economy

brought about by the MSMEs in the Philippines particularly during this pandemic. With the
lessons, be able to draw the significant link between entrepreneurship and the economic
situation we are into in this trying time.

Learning outcomes:
The topics in unit 1 will enable you to:

1.Understand the theories on economic development

2.Deduce the impact of entrepreneurship in socio-economic development

ENGAGE ACTIVITY

As a ________ (your course), what are your contributions to socio-

economic development? Show your contributions in a form of
comic strip. You may draw or use an app in making this
requirement; there should be a minimum 5 panels/boxes; in a
short copy paper.

General theories on economic development

Law of nature
-economic development is a natural thing so it is expected to happen in any society
Racial heritage
-economic development is brought by the racial characteristics. Racial characteristics
affect the energy of people; they tend to be more energetic with their shared
characteristics.
Climatic condition
-extreme climate affect the energy of the people; they tend to be lazy when climate is
too cold or too hot.
Cultural diffusion
-diffusion of two societies will lead to economic development. If a developed society
helps a less develop society this process will bring development to the less developed
society.
Principle of invisible hand
-a concept introduced by Adam Smith, the father of economics.

Economic theories
Population changes
Economic development is influenced by population. Population growth leads to
increase in production (supply) and increase in consumption (demand). The effect can
either be economic development or economic stagnation.

Technological breakthrough. Technological innovation drives economic development

as it makes work easier, faster, and more accurate.

Entrepreneurship. Entrepreneurship is the backbone of the economy; the key to

economic and social development due to its contributions to the society.

Contributions of entrepreneurship to socio-economic development

Entrepreneurship assures the improvements in the lives of the entrepreneur, the people,
the community, and the world. Through entrepreneurship, people get to have job for their
sustenance, pay taxes, and improve the circulation of money.

¢ Entrepreneurship creates employment of resources. (land, labor, capital, entrep)

Through the establishment of enterprises, jobs are created; resources such as land,
labor and capital are being used for productive purposes thus bringing about
development. Entrepreneurs employ the unutilized and unmaximized resources.

¢ Entrepreneurship brings equitable distribution of income

Entrepreneurship helps provide sources of income through the job creation. Hence,
changes the adage “the rich becomes richer, the poor becomes poorer” to “the rich
becomes richer, the poor becomes rich”. When entrepreneurship flourishes then more
jobs are created. This means that more people have sources of income. Hence income
is distributed. So people will use their income to buy goods and services. This then
improves the circulation of money.

¢ Entrepreneurship brings industrialization in the countryside

Bringing development in the rural or countryside through encouraging creation of
enterprises in these areas than in the urban areas which are saturated. With the
presence of enterprises in the countryside, we also prevent the migration of talents thus
assuring improvements in the countryside.
¢ Entrepreneurship helps provide the following:
v Products and necessities that sustain life;
v Freedom from servitude, social deprivation, and misery
v Self-esteem for the entrepreneur; to be a person with a sense of self-worth and self-
respect; and being of service to the community
¢ Entrepreneurship brings income to the government through the taxes paid by the
entrepreneur, the business and the employees.

Unit 2: Government support to MSME’s in the Philippines

With the contributions of entrepreneurship to the improvement of lives of people
and the advancement of communities, the government through the different agencies

Learning outcomes:

At the end of unit 2, you should be able to:

1. Classify the MSMEs in the Philippines

2. Advance search the impact of MSMEs in context of employment
3. Understand that the government empower the MSMEs through the different government
agencies’ assistance programs and policies.

Classification of MSMES in the Philippines

ENTERPRISE By asset size By number of employees

MICRO Up to Php 3,000,000 1-9 employees

SMALL Php 3,000,001-15, 000,000 10-99 employees
MEDIUM Php 15,000,001-100,000,00 100-199 employees
LARGE More than Php100,000,000 200 and more employees

Role of government in entrepreneurship growth

It is expected that the government through, laws, policies, regulations and procedures,
create an environment favorable for entrepreneurship growth.

v Example of laws that protect the entrepreneurs and would be entrepreneurs:

§ The go Negosyo Law (Republic Act No. 10644)
§ The barangay micro business enterprise law (RA. 9178 Act of 2002 )
§ The magna carta for small and medium enterprises (Republic Act 6977)
§ The intellectual property code of the Philippines (R.A.8293)
§ Innovative start up act (Republic Act 11337)

Access to finance, legal, technological, and socio-psychological support must be

readily available through the government agencies.
v Financial Assistance- Government through government agencies provide financial
assistance through grants and loans.
v Marketing assistance- Provision of assistance in the form of promotion, product clinic
and development, pricing, and distribution.
v Production and productivity assistance- Assistance through trainings and workshop
on productivity enhancement.

Explain activity: READ about the following:

¨ Theory of mercantilism
¨ Adam Smith’s Laissez Faire Theory
¨ Karx Marx’s theory of socialism
¨ Theory of socio-economic development by Joseph Schumpeter
¨ newspapers or magazines to able to search for government
programs for the development of MSMEs
¨ Republic Act No. 10644, RA. 9178 Act of 2002 , Republic Act
6977, R.A.8293, and Republic Act 11337
Elaborate activity:
Visit: https://www.dti.gov.ph and search for the MSMEs statistics to get a view on the role of
MSMEs in employment creation and Value creation.

1.Create an entrepreneurship and socio-economic development relationship mind map. In

your relationship mind map, you illustrate the interconnectivity of entrepreneurship and
socio-economic benefits.

References:
Diaz, P., Fajardo, H., (2015). Entrepreneurship Study and Practice. Small Enterprise and
Research Development Foundation, Manila.
Small Enterprise and Research Development Foundation and UPISSI. (2007). Introduction
to Entrepreneurship. Revised edition, Manila 2007.
Small Enterprise and Research Development Foundation and UPISSI. (2013). Windows to
Entrepreneurship A teaching Guide. Manila, 2013.

MODULE 3: Journey to Entrepreneurial Development

Development of your entrepreneurial mindset is the ultimate purpose of this GENTREP
course. Process of entrepreneurial mindset development commence from your “personal
discovery” which was covered in module 1.

Module 3 introduces you to the concepts of entrepreneurial mind and personal

entrepreneurial competencies. Profound knowledge on these concepts will drive you to
your willingness to develop your entrepreneurial mind and eventually develop your
personal entrepreneurial competencies. Deep, clear entrepreneurial mind drive you to
behave entrepreneurially. Thus, it is safe to say that strong personal entrepreneurial
competencies are influenced by a well-developed entrepreneurial mind.

Hence, in this module, you will assess your personal entrepreneurial competencies
and reflect on how you will be able to develop them. Similarly, you will assess your
independent mind, growth-oriented mind, goal oriented and effectuating mind, risk
managing mind, resilient mind, opportunity recognizing mind and your design mind.

Unit 1: Personal Entrepreneurial competencies

Personal entrepreneurial competencies (PECs) are abilities entrepreneurial individuals need

to possess. Understand and develop them in order for you to become entrepreneurial.

Learning outcomes:

At the end of Unit 1, you should be able to achieve the following topic learning outcomes:
1. Validate your entrepreneurial competencies
2. Develop your personal entrepreneurial competencies

ENGAGE ACTIVITY

PERSONAL ENTREPRENEURIAL COMPETENCIES

SELF-RATING QUESTIONNAIRE
Instruction: Answer the questionnaire based on your personal and honest views as there
are no wrong answers. Remember that no one is good at everything. Rate each of the 55
statements according to your personal beliefs. Write answers in the spaces provided per
number following the downward pattern. Once you are done rating, compute your score
(horizontally) per competency taking into consideration the positive and negative signs.
Use this scale when rating:
5 – always
4 – usually
3 – sometimes
2 – rarely
1 – never

1. I look for things that need to be done

2. When faced with a difficult problem, I spend a lot of time trying to find a solution.
3. I complete my work on time.
4. It bothers me when things are not done very well.
5. I prefer situations in which I can control the outcomes as much as possible.
6. I like to think about the future.
7. When starting a new task or project, I gather a great deal of information before going
ahead.
8. I plan a large project by breaking it down into smaller tasks.
9. I get others to support my recommendations.
10. I feel confident that I will succeed in whatever I try to do.
11. No matter who I’m talking to, I’m a good listener
12. I do things that need to be done before being asked to do so by others.
13. I try several times to get people to do what I would like them to do.
14. I keep the promises I make.
15. My own work is better than that of other people I work with.
16. I don’t try something new without making sure I will succeed.

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17. It’s a waste of time worrying about what to do with life.
18. I seek the advice of people who know a lot about the tasks I’m working on.
19. I think about the advantages and disadvantages or different ways of accomplishing
things.
20. I do not spend much time thinking about how to influence others.
21. I change my mind if others disagree strongly with me.
22. I feel resentful when I don’t get my way.
23. I like challenges and new opportunities.
24. When something gets in my way of what I’m trying to do, I keep on trying to accomplish
what I want.
25. I am happy to do someone else’s work, if necessary, to get the job done on time.
26. It bothers me when time is wasted.
27. I weigh my chances of succeeding or failing before I do something.
28. The more specific I can be about what I want out of life, the more chances I have to
succeed.
29. I take action without wasting time gathering information.
30. I try to think of all the problems I may encounter and plan what to do if each problem
occurs.
31. I get important people to help me accomplish my goals.
32. When trying something difficult of challenging, I feel confident that I will succeed.
33. In the past, I have had failures.
34. I prefer activities that I know well and with which I am comfortable.
35. When faced with major difficulties, I quickly go on to other things.
36. When I’m doing a job for someone. I make a special effort to make sure that the person
is happy with my work.
37. I’m never entirely happy with the way in which things are done; I always think there
must be a better way.
38. I do things that are risky.
39. I have a very clear plan for my life.
40. When working on a project for someone, I ask many questions to be sure I understand
what the person wants.
41. I deal with problems as they arise rather than spend time anticipating them.
42. in order to reach my goals, I think of solutions that benefit everyone involved in the
problem.
43. I do very good work.
44. There have been occasions when I took advantage of someone.
45. I try things that are very new and different from what I have done before.
46. I try several ways to overcome things that get in the ways to my goals.
47. My family and personal life are more important to me than work deadlines I set for
myself.
48. I do not find ways to complete tasks faster at work and at home.
49. I do things that others consider risky.
50. I am so concerned about meeting my weekly goals as I am for my yearly goals.
51. I go to several different sources for information to help with tasks or projects.
52. If one approach to a problem does not work, I think of another approach.
53. I am able to get people who have strong opinions or ideas to change their minds.
54. I stick with my decisions even if others disagree strongly with me.
55. When I don’t know something, I don’t mind admitting it.

+ + - + + 6_ =_________ OPPORTUNITY SEEKING

1 12 23 34 45
____ + ____ + ____ - ____ + ____ + 6_ =_________ PERSISTENCE
2 13 24 35 46

__ + _ + + - + 6 =_______ COMMITMENT TO WORK

3 14 25 36 47 CONTRACT

____ + ____ + ____ + _____ - _____ + 6__ =_________ DEMAND FOR EFFICIENCY AND
4 15 26 37 48 QUALITY

__ - + + + _ + 6 =_________ RISK TAKING

5 16 27 38 49

__ - _ + + _ + _ + 6 = ________ GOAL SETTING

6 17 28 39 50

__ + _ - + _ + _ + 6 = ________ INFORMATION SEEKING

7 18 29 40 51

____ + _____ + ____ - ______ + ____ + 6__ =________ SYSTEMATIC PLANNING AND
8 19 30 41 52 MONITORING

____ - _____ + _____ + _____ + ____ + 6__ = _______ PERSUASION AND NETWORKING
9 20 31 42 53

__ - _ + _ + _ + + 6 = _______ SELF-CONFIDENCE

10 21 32 43 54

TOTAL PEC SCORE =_______________

__ - _ - _ - __ + _ + 18 = __________ CORRECTION FACTOR**

11 22 33 44 55

PECs SELF-RATING QUESTIONNAIRE Corrected Score Sheet

Instructions

1. The correction factor (the total of items 11, 22, 33, 44, and 55) is used to determine
whether or not a person tries a very favorable image of himself. If the total score on this
factor is 20 or greater, then the total score on the ten PECs must be corrected to provide a
more accurate assessment of the strengths of the PEC score for that individual.

2. Use these following numbers when figuring the corrected score:

Interpretation:

The highest score per PEC is 25. The nearer you are to 25, the stronger you are in that PEC item;
the closer you are to zero, the weaker you are in that PEC item.

Below the average score of 12.5 means a challenge to improve that PEC item.
However, I want you to look into your highest and lowest scores to interpret. Your highest score will
be your most strong competency and your lowest will be your most weak competency.

THE 10 PERSONAL ENTREPRENEURIAL COMPETENCIES

These are key personal entrepreneurial competencies that can determine successful
from unsuccessful entrepreneurs and potential entrepreneurs. These were identified
through an intensive research by Management Systems International (MSI) and McBer
Team. The 10 are grouped into 3 clusters; the achievement cluster, the planning cluster
and the power cluster.

A. ACHIEVEMENT CLUSTER
• Opportunity-seeking. Entrepreneurs seek opportunities and take the initiative to
transform them into business situations.
• Persistence. When most people tend to abandon an activity, successful
entrepreneurs stick with it.
• Commitment to work contract. Entrepreneurs keep their promises, no matter how
great the personal sacrifice.
• Demand for efficiency and quality. Entrepreneurs try to do something better, faster
or cheaper.
• Taking calculated risks. Taking calculated risks is one of the primary concepts in
entrepreneurship.

C. POWER CLUSTER
• Persuasion and networking. Entrepreneurs influence other people to follow them or
do something for them.
• Self-confidence. Entrepreneurs have a quiet self-assurance in their capability or
potential to do something.
(source: https://empretec.unctad.org/?page_id=30)

Unit 2: The Entrepreneurial Mind

The topics here will enlighten you on what is entrepreneurial mind and the different
attributes that you need to develop in order to cultivate your entrepreneurial mindset.

Learning outcomes:

The topics in unit 2 will enable you to:

1. Understand the concept of entrepreneurial mind
2. Develop your entrepreneurial mind

ENGAGE ACTIVITY
Activity 1: How Independent Thinking Are You?
https://www.docpotter.com/thifor-test.html

• The following questionnaire yields a quick assessment of your current level of

independent thinking. The items provide an overview of what is involved in thinking for
yourself.
• INSTRUCTIONS: Think of how you make decisions and form opinions, then for each item,
using a scale from 1 to 5, rate how often the statement is true of you. With '1' being
'rarely like you' and '5' being 'usually like you'. There are no right or wrong answers.
Simply answer the way that best describes how you usually feel and act.

Openness
__1. I listen.
__2. I consider several points of view.
__3. I accept partial answers.
__4. I seek alternative explanations
__5. I define the core issues.

Independence
__9. I clarify my viewpoint.
__10. I rely on my own judgment.
__11. I trust my instincts.
__12. I weigh expert’s advice before accepting it.

Values
__13. I live by a personal moral code.
__14. I consider what really matters to me.
__15. I tell the truth.
__16.I do what I say I will do.

Responsibility
__17. I am constantly improving myself.
__18. I don’t make excuses when I act badly.
__19. I examine my motivation.
__20. I weigh consequences.

Assertiveness
__21. I say what I think.
__22. I question what I see and hear.
__23. I take divergent positions.
__24. I speak up when someone is inappropriate.

Religious Openness
__25. I respect others’ religious beliefs.
__26. I interpret religious edicts for myself.
__27. I explore religious views different from mine.
__28. I question the views of my religion

Questioning Authority
__29. I follow my conscience.
__30. I speak up when people in authority do wrong.
__31. I do what makes sense, not just obey laws.
__32. I am skeptical of what people in authority say.

Interpretation

32—64: Others Think for You

You give into other’s pressures because you don’t know what you want. When you sort out
what matters most to you, you will be stronger. Take time to explore what really matters to
you and how you see things.

65—96: Potential Independent Thinker

97—128: Promising Independent Thinker

Your critical thinking skills are good. You avoid stereotypes and question experts and
authorities. It’s important to remind yourself to use your analytical skills. Look for
opportunities to practice—everyday.

129—160: Outstanding Independent Thinker

Your ability to think for yourself is outstanding. You are good at seeing bamboozles and
avoiding them. Be careful not to become complacent by being alert to your unquestioned
assumptions.

Activity 2. Growth Oriented Mindset Assessment

Directions: read each statement below and then check the corresponding box that shows
how much you agree with each statement. There are no right or wrong answers.

Strongly Agree Mostly Mostly Disagree Strongly

agree agree Disagree disagree
1 2 3 4 5 6
1. You have certain amount of
intelligence and you really can’t do
much to change it.
2. Your intelligence is something about
you that you can’t change very
much.
3. No matter who you are, you can
significantly change your
intelligence level
4. To be honest, you can’t really
change how intelligent you are
5. You can always substantially
change how intelligent you are
6. You can learn new things, but you
can’t really change your basic
intelligence
7. No matter how much intelligence
you have, you can always change
it quite a bit.
8. You can change even your basic
level considerably.
9. You have certain amount of talent,
and you can’t really do much to
change it.
10. Your talent in an area is something
about you that you can’t change
very much.

Activity 3. Goal Oriented Mind Assessment

Directions: Read each statement below and then check the corresponding box that shows
how much you agree with each statement. There are no right or wrong answers.

Strongly Agree Mostly Mostly Disagree Strongly

agree 2 agree Disagree 5 disagree
1 3 4 6

1. I acquaint and mix myself with

goal-oriented people.
2. My friends and I excitedly talk
about our respective goals and
dreams and how each of us
intends to get there.
3. I write down my goals onto
paper.
4. I make it a habit to write down
my goals each day.
5. As much as possible, I set a
deadline on when I should be
achieving a certain goal.

Scoring and interpretation

1. Reverse score items 6, 11, and 17. That is, if your response to any of these items is

Activity 4. Resilient Mind Assessment

Directions:
Read each statement below and then check the corresponding box that shows how
much you agree with each statement. There are no right or wrong answers.

The preceding self-assessment tool was adapted from

https://www.mindtools.com/pages/article/resilience-quiz.htm, though Statements 4, 6, 8,
and 14 were modified to match your situation as students.

It would be better if you’d do the self-assessment at the MindTools website as indicated in

the URL, so you could also avail of the scoring and interpretation of the results afterward.
You’d be given not just the general assessment result, but the results itemized according to
the elements of RESILIENCE; namely, Confidence (Items 1, 3, 9, 16), Social Support (Items 4,
8, 11, 14), Adaptability (Items 2, 7, 12, 15), and Purposefulness (Items 5, 6, 10, 13).

Strongly Disagre Neither Agree Strongly

disagree e agree nor agree
1 Disagree 4 5
2 3
1. When given a new task, I'm
confident that I'll succeed.
2. When one attempt fails, I learn
from it and change my
approach next time.
3. When a task doesn't go to plan,
it affects my self-belief.
4. I have few people at school
who I can speak to about issues
in our academics.
5. When I encounter a difficulty, I
lose sight of my goal quickly.
6. Sometimes I question my
commitment to my course.
7. I have strategies in place for
dealing with stress.
8. I find it easy to ask my
classmates and friends for help.

What is mindset
• Mindset is a mental attitude or inclination (Merriam-Webster)
• Mindset is the sum of your knowledge-beliefs and thoughts about the world and
yourself. (Thum, 2012)
• Mindsets can be shaped by an intentional awareness but are also driven by our
experiences. A mindset is a habit that requires practice (Bosman & Fernhaber, 2018)

What is entrepreneurial
• Undertaker- Richard Cantillon
• Creates value- Jean Baptiste Say
• Change agent/creative destruction- Joseph Schumpeter
• Resourcefulness and uncertainty- Howard Stevenson
• Opportunity-Peter Drucker

What is entrepreneurial mindset

• The inclination to discover, evaluate and exploit opportunities. (Bosman, Lisa;
Fernhaber, Stephanie).
• Entrepreneurial mindset refers to a specific state of mind which orientates human
conduct towards entrepreneurial activities and outcomes. Individuals with

• The entrepreneurial mindset is about a certain way of thinking

• It is what you need to propel yourself forward.
• If you want to cultivate an entrepreneurial mindset, you have to embrace
challenges. You have to seek them out.
• the entrepreneurial mindset is about thinking differently than the rest.
• The truest entrepreneurial mindset is about providing value. Entrepreneurs are on a
quest to help the customer in some way and to continue to make their service better
and better. They identify problems and solve them. (Arash Asli, forbes.com)

• A set of cognitive (thinking) processes that triggers the individuals to act or to

behave entrepreneurially.
• Sometimes it is called entrepreneurial talent or mentality
• This mindset, talent or mentality can be changed and modified over time
• The basis for the individual behavior

The Importance of Entrepreneurial Mindset

• To build an entrepreneurial society
• Developing the right mindset at a very early age
• Inculcation process needs to be implemented thru various programs and activities
• Entrepreneurs as agents of change at every level of the society
• Entrepreneurship as a way of life

McGrath and MacMillan’s 5 characteristics of entrepreneurial mindset

(Bosman & Fernhaber, 2018)
1. They passionately seek new opportunities
2. They pursue opportunities with enormous discipline
3. They pursue only the very best opportunities and avoid exhausting themselves and
their organizations by chasing after every option.
4. They focus on execution-specifically, adaptive execution.
5. They engage the energies of everyone in their domain.

ENTREPRENEURIAL MIND ATTRIBUTES

1. The Independent mind
• Individuals who are independent minded are inclined to decide for them selves
what to believe and do rather than simply accept things because others say they
should.
• Being independent minded doesn’t necessarily mean that your opinions are always
different from others and that you never consult with other people; it means simply
that you hold opinions because they make sense to you.
• Individuals who are independent minded aren’t afraid of having a different opinion
but don’t simply pick an opposing view just to be different.

2. The growth-oriented mind

• Is open to change and willing to adapt to change
• Is open to consistently learn from one’s context and environment
• Is receptive to feedback
• A growth mindset is simply the belief that our basic abilities can be developed and
improved through dedication and hard work. It's not so much that this belief is some
kind of magic.
3. The goal-oriented and effectuating mind
• Desires to achieve at a high level
• Is determined to achieve stretch goals
• Shows initiative, makes decisions quickly, and feels impatient for results
• Desires to translate ideas into actionable plans and to execute these plans
• Desires to do one’s work well and thoroughly, and to be careful, meticulous, and
rigorous while doing so
• Understands that earnest, strenuous efforts are required to achieve goals and
overcome challenges and uncertainties
4. The risk-managing mind
• Has the propensity to take calculated risks
• Considers not just the potential benefits and returns of an opportunity, but also its
costs and risks before pursuing it
• Considers the long-term viability of an opportunity by looking beyond the immediate
situation and considering the future carefully
• Is willing to pursue a desired goal even when the probability of succeeding is low, as
long as the relative value (return less risk; opportunity for learning) is favorable
• Includes the overcoming, or at least the mitigation, of risks in pursuing goals
The Entrepreneur’s Confrontation with Risk
• Financial risk versus profit (return) motive varies in entrepreneurs’ desire for wealth.
• Career risk—loss of employment security
• Family and social risk—competing commitments of work and family
• Psychic risk—psychological impact of failure on the well-being of entrepreneurs

5. The resilient mind

• Maintains a generally positive attitude about various aspects of one’s life and the
world
• Sees every failure as an opportunity for improvement and personal mastery
• Bounces back quickly from disappointments
• Remains persistent in the face of setbacks
• Is inspired by and celebrates the successes of others instead of feeling threatened
by or being jealous of them

6. The opportunity-recognizing mind

• Is curious and inquisitive
• Is empathetic and sensitive to the beliefs, feelings, needs, and motivations of other
people
• Is sensitive to problems and desires to solve them
• Is sensitive to available, yet idle, resources
7. The designing mind
• Transcends traditional rules and patterns to create meaningful, fresh ideas,
interpretations, and solutions
• Generates multiple and novel ideas and finds multiple approaches for achieving
goals
• Is willing to experiment, to try new ideas over and over again, and learn from
mistakes

Unit 3: the Entrepreneurial Organization

The personal competencies and mindset are descriptions of entrepreneurial
individuals. Topic in Unit 3 covers the dimensions of an entrepreneurial firm. So when
individuals have possessed the competencies and mindset of an entrepreneur, they
become drivers for organizations to be entrepreneurial.

Learning outcomes:

The topic will enable you to:

1. Understand the dimensions of entrepreneurial orientation
2. Distinguish an entrepreneurial organization

Entrepreneurial Orientation (EO)

• Strategy- making practices that firms use to identify and launch entrepreneurial
ventures.
• Represents a frame of mind and a perspective toward entrepreneurship that is
reflected in a firm’s ongoing processes and culture.
• An entrepreneurial orientation involves:
- Strategy making practices used to identify & launch new ventures
- A unique frame of mind
- A perspective toward entrepreneurship
- Reflected in a firm’s ongoing processes
- Reflected in the corporate culture
- That permeates decision-making styles & practices of the firm’s members

Entrepreneurial Orientation
12-51

Exhibit 12.3 Dimensions of Entrepreneurial Orientation

Sources: Dess, G.G. & Lumkin, G.T. 2005. The Role of Entrepreneurial Orientation in Stimulating Effective Corporate Entrepreneurship. Academy of Management
Executive, 19(1): 147-156; Covin, J.G. & Slevin, D.P. 1991. A Conceptual Model of Entrepreneurship as Firm Behavior. Entrepreneurship Theory & Practice, Fall: 7-25;
Lumpkin, G.T. & Dess, G.G. 1996. Clarifying the Entrepreneurial Orientation Construct and Linking It to Performance. Academy of Management Review, 21: 135-172;
Miller, D. 1983. The Correlates of Entrepreneurship in Three Types of Firms. Management Science, 29: 770-791.

Autonomy refers to a willingness to act independently in order to carry forward an

entrepreneurial vision or opportunity, and can be promoted by:
§ Using skunk works to foster entrepreneurial thinking
§ Designing organizational structures that support independent action

Problems can include:

§ Duplication of effort
§ Wasting of resources

Innovativeness refers to a firm’s efforts to find new opportunities & novel solutions, and can
be promoted by:
§ Fostering creativity & experimentation
§ Investing in new technology, R&D, & continuous improvement
Problems can include:
§ Waste of resources if no results
§ Competitors may copy it more profitably
§ The investment may not pay off

Proactiveness refers to a firm’s efforts to seize new opportunities, and can be promoted by:
• Introducing new products or technological capabilities ahead of the competition
• Continuously seeking out new product or service offerings

Problems can include:

• First movers are not always successful
• Brand extensions can go too far

Problems can include:

§ Being overly aggressive & damaging a firm’s reputation
§ Trying to decimate rather than just defeat the competition

Risk taking refers to a firm’s willingness to act boldly without knowing the consequences,
and can be promoted by:
§ Researching & assessing risk factors, including business, financial & personal risk, to
minimize uncertainty
§ Using techniques that have worked in other domains

Problems can include:

§ Lack of forethought, research, & planning
§ Failure to evaluate uncertainty

ACTIVITIES
Explain activity
Read: https://scottjeffrey.com/change-your-fixed-mindset/

Elaborate Activity:
visit:
https://www.youtube.com/watch?v=2zrtHt3bBmQ
https://www.youtube.com/watch?v=EoWLgWCcpWo
https://www.youtube.com/watch?v=OFKVoCuwl2s
https://www.youtube.com/watch?v=HWr2gE5IlPc
https://www.youtube.com/watch?v=BXyN0XSTaMg

1. Look for people who qualify as intrapreneur, technopreneur, ecopreneur, and social
entrepreneur.
2. For each of the four personalities, relate a brief description of their business and explain
what makes them unique entrepreneurs. Include a) photo; b) business description and
rationale for being a unique entrepreneur maximum of 150 words.
3. For each of the entrepreneurs, identify and describe 3 PECS or entrepreneurial mind
attributes they have manifested. You may quote portions of your source article to
emphasize your point
4. Discuss how having these three competencies or attributes have contributed to each of
their entrepreneurial success.

The focus of your discovery is to help people and society—emphasis is to search for
opportunities that solve problems in the society which are aligned to your specific
program.

So, what are your interest?

…want to help people learn better?

…want to improve health and wellness?
…want to improve agriculture?
…want to improve transportation?
…want to create new systems to help companies run more efficiently?
…want to create new medical instrument?
…want to create new computing technology?
Or you want to________________

ENGAGE ACTIVITY

Create your personal flag. In a bond paper, create a quadrant. In each box, write your
answers to the following:
A. Your strengths (minimum of 10) B. Your weaknesses (minimum of 10)

C. What you can give to other people D. How can you turn your weaknesses
(at least 5) into achievements
(at least 5)

Unit 1: Understanding Your Environment

Entrepreneurial mindset influence our critical thinking and problem based learning.
Knowing the business environment guides you in your search for problems that can be
turned into business opportunities. The business opportunities are present in our
environment. Hence, the need for valuing our environment.

Topic Learning Outcomes:

The topics in Unit 1 will enable you to:

1. Understand the different elements of the business environment
2. Apply techniques in environmental scanning; swot analysis

(opportunities
and threats)
(Porter’s 5 forces Micro Environment
model) The customers
The suppliers
Environmental
Scan The competitors
The society

Plans
Internal Policies
Environment Human Resources
Analysis
Financial Resources
Organizational Culture
(strengths and Machineries
weaknesses )

Business environment

This consists of the internal and external factors that affect how the company functions
including, but not limited to, the customers, management, supply and demand, and
business regulations. These are beyond the control of the business and they affect the
functioning of a business enterprise.

Micro environment
• Refers to the environment which is in direct contact with the business organization and
can affect the business straight away.

Elements of the Microenvironment

• Suppliers
§ Provide to the business such inputs as manpower, money, materials, machines,
methods, information and so on.
• Competitors
§ Are the rivals which compete with the firm in the market
• Marketing Intermediaries
§ Wholesalers, distributors and retailers that make a link between the firm and its
customers.
• Customers
§ Are the ones who purchase the firm’s goods and services for their own consumption
• Firm
§ Includes shareholders, Investors, employees and board of directors

Macro-environment / General Environment

• Is an important dimension of the business environment as the businessman cannot
directly influence or change the components of the general environment; rather he has
to change his plans and policies according to the changes taking place in the general
environment.

Elements of the General Environment

• Political Environment
• Centers on the role of the governments in shaping business
• Tax policies, changes in trade restrictions and tariffs
• Stability of the government and immigration policy

• Economic Environment
• Centers on economic conditions
• Interest rates, inflation rates, gross domestic products, unemployment rates, levels of
disposable income, and the general growth or decline of the economy

• Social Environment
§ Consists of the customs and traditions of the society
§ Includes the following:
• Standard of living
• Taste
• Preferences
• Education level of people

• Technological Environment
• Changes taking place in the method of production
• New equipment and machineries to improve the quality of product

• Physical/Natural Environment

• Legal Environment
o Centers on how the law influence the business activity
o Includes the following factors;
§ Employment laws
§ Health and safety regulations
§ Discrimination laws
§ Anti-trust laws

Why is environmental scanning important to business?

• It helps with the identification of a number of broad factors and issues that will have a
significant impact on businesses and their plans for the future.
• Aids in anticipating changes
• Answers the question, “Where are we now?”
• Provides a starting point for businesses’ planning of goals, objectives, and
actions that answer the question, “Where do we want to be?”

Environmental Scanning tools

The SWOT analysis will be used to assess your macro environment and your internal
environment. Thus, you will able to identify the strengths and weaknesses which are found
within the organization; and opportunities and threats that are present in the external
environment. The Porter’s 5 forces model is a tool used to assess your micro or competitive
environment.

SWOT Analysis
• Is a useful technique for understanding your Strengths and Weaknesses, and for
identifying both the Opportunities open to you and the Threats you are faced with.
• The SWOT Analysis is sometimes called Internal-External Analysis
• Helps you to craft a strategy that distinguishes you from your competitors
• When carrying out your SWOT Analysis, be realistic and rigorous.

Unit 2: Opportunity Identification and Evaluation

Topics here will introduce you to the generation of business opportunities from
scanning the environment and then screening these ideas generated to be able to select
the idea that can be turned into business opportunities.

Learning outcomes:

The topics in Unit 2 will enable you to:

Key factors that will influence your business ideation process are your opportunity
seeking competency and opportunity recognizing mindset. With these competencies and
mind, you can easily recognize opportunities around you. Hence, the need to acquire
them. In the future, you can easily recognize employment and project opportunities.

Looking back at the personal entrepreneurial competencies, opportunity-seeking

competency drives you to:
• look for things that you need to be done.
• do things that need to be done before being asked by others.
• like challenges and new opportunities.
• prefer activities that you know well and with which you are comfortable.
• try things that are very new and different from what you have done before.

In addition, the opportunity-recognizing mindset drives you to:

• be curious and inquisitive
• be empathetic and sensitive to the beliefs, feelings, needs, and motivations of other
people
• be sensitive to problems and desires to solve them
• be sensitive to available, yet idle, resources

Difference between a Business Opportunity and a Business Idea

• A business opportunity is a favorable set of internal or external circumstances that

creates a need for a new business. It usually presents itself as a gap to be filled: a need
to be satisfied or a problem to be solved.
• A business idea is a thought, impression, or notion of a business venture that could fill
the gap; that is, satisfy a perceived need or solve a perceived problem.

“Great ideas are everywhere, hiding in plain sight. You just need to know where to
find them and mine them!” Stephen Key

OPPORTUNITY IDENTIFICATION

Internal Environment- scanning your internal environment to search for business ideas. As
the enterprise is not yet existing, the internal environment that you will scan will be yourself.
So, identify ideas from your passion, skills, talents and hobbies. Business ideas may sprout
within you.

External Environment. Identify business ideas through an analysis of the current situation in
the external environment. This is the primary reason why you internalize the different

1. Observing Trends: Trends create opportunities for entrepreneurs to pursue.

The most important trends are:
o Social forces.
o Technological advances.
o Economic forces.
o Political action and regulatory change.

It’s important to be aware of changes and trends in these areas. Examples of

business ideas from observation of trends are as follows:

TREND 4: POLITICAL ACTION AND

REGULATORY CHANGES
CHANGING ENVIRONMENTAL RESULTING NEW BUSINESS
TREND Business Opportunity OPPORUNITIES Business Idea
ECONOMIC TRENDS
Specific Example
• Teenagers with more cash Designer clothes , compact discs, DVD
The Players,
No Child games consoles, computers Act
Left Behind
of
Company created
to help other 2002 requires states to develop
• Increased interest in stock marketcriterion-based
Magazines for investors, online brokerage
assessments in basic
companies ser vices, stock research ser vices
skills to be periodically given to
comply with a students in certain grades. Kim and
SOCIAL TRENDS
specific law. Jay Kleeman, two high school
• Increasing predominance of dual Restaurants, microwavable dinners, food
income families leaves less time toteachers, started
cook deliver y ser vices Shakespeare
at home Squared, a company that helps high
• Increased interest in fitness schools comply
Fitness centers,with the
in-house act.
exercise
equipment, health food stores
• Increased mobility of population Cellphones, laptop,

2. Solving Problems
• Sometimes, identifying opportunities simply involves noticing a problem and
finding a way to solve it.
• These problems can be pinpointed by observing what’s lacking that causes
people to suffer or be inconvenienced; sometimes, this could be done
through more simple means, such as intuition, serendipity, or change.

Businesses created to solve a problem

Entrepreneur Year Problems Solution Business name

Rob Glaser 1995 no way to play audio and Developed software to RealNetworks
video on the internet play audio on the net
Jerry Yang and 1994 No method to find or Created online Yahoo!
David Filo organize favorite website directories to find and
store favorites
Anita Roddick 1976 Unable to find small Started a company in The Body Shop
amounts of cream or lotion part, provide smaller

3. Finding Gaps

A gap in the marketplace often exists when a product or service is needed by a

specific group of people that doesn’t represent a large enough market to be of interest to
mainstream manufacturers, retailers or service providers.

For example, in 2000, Tish Cirovolv realized there were no guitars on the market
made specifically for women. To fill this gap, she started Daisy Rock Guitars, a company
that makes guitars just for women.

During this Covid 19 crisis, there is a market need for PPEs. One of the companies
that fill the gap is Fila.

4. Maximize Use of Idle Resources

§ Abundant, available, untapped raw materials

Search for the idle, untapped, un-utilized raw materials that are abundant in
your community and think of how you can utilize them for productive purposes.

Example: Bugnay wine- came about as a response to the idleness of bugnay

fruits.
§ Idle local skills. Capitalize on the local talents, skills, hobbies.
Example: woodcraft in Ifugao- most of the people in Ifugao are skilled in wood
crafting thus, most are into wood carving business.
Most of shoes are made in Marikina where the shoe crafters are.

OPPORTUNITY EVALUATION
A critical element of opportunity recognition is assessing to what extent an opportunity is
viable in the marketplace. For an opportunity to be viable it must meet four criteria:
1. Attractive: There must be market demand for the product or service;

SWOT ANALYSIS
In Unit 1 (module 4), SWOT analysis was discussed as a tool in scanning the
environment.

Swot analysis can also be used to screen business ideas in order to select the
opportunity. Once you derive the top 3 or top 5 ideas through the evaluation process,
screen them further using the swot analysis. Choose the idea that has positive factors
(strengths and opportunities) that can able to eliminate, overcome, minimize its
weaknesses and threats. Since the business is not yet existing, then use your strengths and
weaknesses related to the idea as the basis of evaluation.

BUSINESS OPPORTUNITY IDEATION DURING PANDEMIC AND BEYOND

The pandemic has brought a lot of changes to the way of life as well as in the
course of business. Moreover, it has created new challenges and trends in the area of
business ideation.

Dcode EFC analysis has presented a diagram of what business will and will not thrive
in Egypt during this pandemic as seen in the figure below. Though it is an analysis for Egypt,
it holds true in almost all economy. Those who are thinking of an entrepreneurial
undertaking may he guided by this data.

Most businesses affected tremendously by the pandemic crisis are those business that rely
on:
1. Physical gatherings.
2. Mobility of people
3. Non-essential needs

Some challenges during this pandemic

• Social distancing

Some Business ideas responsive to the new normal challenges

• Delivery services
o Meal or food delivery
o Grocery delivery
o Construction supplies delivery
o Medicine delivery
• Dropshipping
• Health and beauty
• Online retail
• Online learning (research services; gadgets; streaming; IT equipment; Apps)
• Home sanitation
• Essential needs products
• Wellness Apps

Below is a survey among Thai consumers regarding their expenditure.

Source: https://www.scb.co.th/en/personal-banking/stories/business-maker/business-
opportunity-after-covid.html

1. Using problem ideation approach, identify business ideas.

Identify at least 5 societal problems then think of a business idea related
to your field of discipline that will solve the problem. Briefly describe the
problem as well as the business idea.

Problem description Business idea Group of people who will be

Description benefited by the business idea
(describe how will it
solve the problem;
1.
2.
3.
4.
5.

2. Based on the four criteria: attractive, achievable, durable and value creating, select
the best idea. Explain why you think the business idea is attractive, achievable,
durable, and value creating.

*note: develop the business idea for the final project

MODULE 5: SOLUTION DISCOVERY

After you have identified and recognized a business opportunity and come up with
a product idea, you design the concept for possible commercialization or application. You
will be guided by the concepts of innovation, creativity and product development
process. You are tasked to pitch your innovative idea using the business model canvas.

ENGAGE ACTIVITY

Design Your Own.

With the use of your creative mind, draw and describe your version of a
disinfection device.

The key factor that influences your product ideation and development is your
design mindset.

The Designing Mind

• Transcends traditional rules and patterns to create meaningful, fresh ideas,
interpretations, and solutions

Dynamic Mind

Engages Empathetic
in
Prototypin
Optimistic Human-centered
g

Visual
Embracin
g of
Failure
Comfortabl
e with
Open to Ambiguity
Taking
Risks Reflective Collaborative

DYNAMIC MIND
• Dynamic mindset is the ability to shift between inventive thinking, where new ideas
are generated, and analytical thinking, where ideas are tested to identify an
appropriate solution.

EMPATHETIC
• Empathy is the ability to see a situation from multiple perspectives such as the point
of view of clients, end users, and colleagues. These various perspectives allow
design thinkers to imagine solutions that meet the needs of the users.
HUMAN CENTERED
• Design thinkers put the human experience at the center of problem solving where
the lives of people, their challenges, and their ideas are closely and deeply
examined by engaging with people in their everyday environments.
VISUAL
• Visualizing has two components:
First, visual thinking speaks to a form of thinking that brings about new ideas;
Second, is bringing to life what was conceptualized in the mind.
COMFORTABLE WITH AMBIGUITY
• Design thinkers must be comfortable with ambiguity (or not knowing) while at the
same time exploring information, generating ideas, and detecting patterns.
COLLABORATIVE
• Design thinkers engage with clients to understand what needs to be designed, with
end users to understand their perspectives, and with other stakeholders to
determine the context and existence of any constraints.
• In this way, design thinkers do not create solutions in isolation, but, rather, solutions
are co-created through engagement with others.
REFLECTIVE

Unit 1: Product ideation

The topics that will be covered here are the principles of creativity and innovation.

Topic Learning outcomes:

At the end of Unit 1 topics you will able to:

1. Discuss the significance of creativity and innovation in the area of your
specialization.

Creativity
• The generation of ideas that result in the improved efficiency or effectiveness of a
system.

Entrepreneurial Creativity

• “At the very heart of capitalism… is the creative habit of enterprise. Enterprise is, in its
first moment, the inclination to notice, the habit of discerning, the tendency to
discover what other people don’t yet see. It is also the capacity to act on insight, so
as to bring into reality things not before seen. It is the ability to foresee both the

Characteristics of a creative climate:

• A trustful management that does not overcontrol the personnel
• Open channels of communication among all business members
• Considerable contact and communication with outsiders
• A large variety of personality types
• A willingness to accept change
• An enjoyment in experimenting with new ideas
• Little fear of negative consequences for making a mistake
• The selection and promotion of employees on the basis of merit
• The use of techniques that encourage ideas, including suggestion systems and
brainstorming
• Sufficient financial, managerial, human, and time resources for accomplishing goals
© 2009 South-Western, a part of Cengage Learning. All rights reserved.

The Most Common Idea “Killers”

1. “Naah.”
2. “Can’t” (said with a shake of the head and an air of finality).
3. “That’s the dumbest thing I’ve ever heard.”
4. “Yeah, but if you did that . . .” (poses an extreme or unlikely disaster case).
5. “We already tried that—years ago.”
6. “I don’t see anything wrong with the way we’re doing it now.”
7. “We’ve never done anything like that before.”
8. “We’ve got deadlines to meet—we don’t have time to consider that.”
9. “It’s not in the budget.”
10. “Where do you get these weird ideas?”
Source: Adapted from The Creative Process, ed. Angelo M. Biondi (Hadley, MA: The
Creative Education Foundation, 1986).

Types of
Inner Creativity Creativity Organization
Creativity

Event
Creativity Relationship
Creativity

Innovation:
• Is the process by which entrepreneurs convert opportunities into marketable ideas
• Is a combination of the vision to create a good idea and the perseverance and
dedication to remain with the concept through implementation.
• Is a key function in the entrepreneurial process.
• Is the specific function of entrepreneurship.
• It is an idea, practice or object that is perceived as new by an individual or other unit of
adoption.
• It is a use of new knowledge to offer a new product or service that customers want.
• Thus, it is Invention + Commercialization
• “Innovation is the search for and the discovery, development, improvement, adoption
and commercialization of new processes, new products and new organization
structures and procedures.”
© 2009 South-Western, a part of Cengage Learning. All rights reserved

Schumpeter’s distinction between ”Invention” and ”innovation”

¢ An ’invention’ is an idea, a sketch or model for a new or improved device, product,
process or system. It has not yet entered to economic system, and most inventions
never do so.
¢ An ’innovation’ is accomplished only with the first commercial transaction involving
the new product, process, system or device. It is part of the economic system.

WHAT IS AN INNOVATION?
It is an idea, practice or object that is perceived as new by an individual or other
unit of adoption.
It is a use of new knowledge to offer a new product or service that customers want.
Thus, it is Invention + Commercialization

IMPORTANCE OF INNOVATION TO ORGANIZATION

• Competitive pressure and the need to survive
• The management of a firm or enterprise. Managers have to implement change, new
processes and improve systems
• The impact of innovation on organizational life

WHY INNOVATIONS FAIL

Poor leadership
Poor organization
Poor communication
Poor empowerment
Knowledge management
Poor goal definition
Poor alignment of actions to goals
Poor monitoring of results
R&D efforts are not guided by marketing research, manufacturing capabilities and
skills
Mere imitation /copy without any increase in value- innovation offers nothing new
Customers are not yet ready for such innovation

TYPES OF INNOVATION (OSLO MANUAL)

Product innovation
A good or service that is new or significantly improved. This includes
significant improvements in technical specifications, components and
materials, software in the product, user friendliness or other functional
characteristics.
Process innovation
A new or significantly improved production or delivery method. This includes
significant changes in techniques, equipment and/or software.
Marketing innovation
A new marketing method involving significant changes in product design or
packaging, product placement, product promotion or pricing.
Organisational innovation
A new organisational method in business practices, workplace organisation
or external relations.

Innovation in Action

Type Description Examples

Invention Totally new product, Wright brothers—airplane

service, or process Thomas Edison—light bulb
Alexander Graham Bell—telephone

Extension New use or different Ray Kroc—McDonald’s

application of an already Mark Zuckerberg—Facebook
existing product, service, Barry Sternlicht—Starwood Hotels &
or process Resorts

Duplication Creative replication of an Wal-Mart—department stores

existing concept Gateway—personal computers
Pizza Hut—pizza parlor

Synthesis Combination of existing Fred Smith—Fed Ex

concepts and factors into a Howard Schultz—Starbucks
new formulation or use

Principles of Innovation
q Be action oriented.
q Make the product, process, or service simple and understandable.
q Make the product, process, or service customer-based.
q Start small.
q Aim high.
q Try/test/revise.
q Learn from failures
q Follow a milestone schedule.
q Reward heroic activity.
q Work, work, work.

Rules for Innovation

1. Encourage action.
2. Use informal meetings whenever possible.
3. Tolerate failure and use it as a learning experience.
4. Persist in getting an idea to market.
5. Reward innovation for innovation’s sake.
6. Plan the physical layout of the enterprise to encourage informal communication.
7. Expect clever bootlegging of ideas—secretly working on new ideas on company
time as well as personal time.
8. Put people on small teams for future-oriented projects.
9. Encourage personnel to circumvent rigid procedures and bureaucratic red tape.
10. Reward and promote innovative personnel
Source: from “Corporate Venturing Obstacles: Sources and Solutions,” by Hollister B.
Sykes and Zenas Block, Journal of Business Venturing (winter 1989): 161. Copyright ©

Some examples of Creativity and innovation:

Unit 2: Product Development

This focuses on the topics on principles of product, product development and the product
idea presentation.

Topic Learning outcomes:

WHAT IS A PRODUCT?
¢ Customers buy satisfaction
Product is the need-satisfying offering of a firm
¢ Product quality and customer needs
A product with more features or even better features is not a high-quality product if
the features are not what the target market wants or needs
¢ Goods, services, ideas, people, organizations, places, events

PRODUCT CLASSIFICATIONS

¢ According to durability (degree of tangibility)

Non-durable
Durable
Services
¢ According to market
ã Consumer products
• Convenience- are consumer products and services that customers usually buy
frequently, immediately, and with a minimum of comparison and buying effort.
§ Staples
§ Impulse
§ Emergency
• Shopping products are less frequently purchased consumer products and services
that customers compare carefully on suitability, quality, price, and style.
• Specialty products are consumer products and services with unique
characteristics or brand identification for which a significant group of buyers is
willing to make a special purchase effort.
• Unsought products are consumer products that the consumer either does not
know about or knows about but does not normally think of buying.

ã Business products
• Raw materials
• Accessory
• Components
• Supplies
• Professional service

PRODUCT ATTRIBUTES
• Features: dimensions, source ingredients, service, structures, esthetic characteristics,
manufacturing process, performance, components, materials, price and many
more

Levels of a product

Product planners need to think about products and services on four levels.
1. Core customer value, which addresses the question, What is the buyer really buying?
2. Actual product.
3. Augmented product, which is created around the core benefit and actual product
by offering additional consumer services and benefits.
4. Potential- the future augmented product

REASONS FOR UNDERGOING PRODUCT DEVELOPMENT

• Add value to the product and to increase sales

• To build company’s image
• To differentiate the products from that of the competitors
• To build on the success of the existing products which are selling very well.
• To replace the products which are not selling
• To offer something new and keep up with the latest fashion trends
• To meet customer needs
• To start a new production and/or to expand the company-diversify

THE BASIC NEW PRODUCT DEVELOPMENT PROCESS

1. Strategic planning
2. Opportunity Identification and Project Selection
3. Concept generation
4. Concept evaluation
5. Technical Development
6. Commercialization

PRODUCT CONCEPT IDEATION APPROACHES

• Combination: Combine two or more existing products to come up with new product
idea. example: swiss knife; puto pao; umbrella and flashlight;
• Other Uses- introduce another use for an existing product. baking soda as facial; coffee
as body scrub;

• Magnify/Minify/Modify
§ Magnify: Magnify what is already in the market through adding ingredients, add
more value, strengthening, enlarging and thickening. Noodles with more vitamins
§ Minify: Product ideas that are in the market by making it smaller, reducing,
shortening, making faster, omit, lighten, and split up. Radio-MP4, iPod
§ Modify: Changing the color, the shape, the size, the scent. off lotion-off lotion with
scent; balloons into different shapes;

• Substitute: Substitute through using another ingredient or material; using another

process; thinking of who or who else.
• What if: Asking what ifs will help you generate business ideas.

BUSINESS MODEL CANVAS

Source: https://www.edrawsoft.com/template-general-business-model-canvas.php

ACTIVITY

Explain activity:
Read: disruptive innovation
Visit: https://www.youtube.com/watch?v=QoAOzMTLP5s
https://www.youtube.com/watch?v=IP0cUBWTgpY

Evaluate activity: FINAL PROJECT.

Pitch: 100 points
Written:

Develop a new product idea that solves a societal problem

taking into consideration the use of expertise in your chosen field of
discipline. Pitch your idea guided by the business model canvas.

Also, prepare a written output for your business idea.

The problems may be aligned to your program (ex. BSCE, BSCHE, BSEE, BSTM, BSHM,
etc.) or societal problems. Societal problems refer to problems in the society like waste
management, global warming, resource depletion, rising cases of HIV, rising cases of
diabetics, dengue, mobility of health care or frontliners, etc. The business solution you
came up with should be related to your field of discipline or program (ex. BSCE, BSCHE,
BSEE, BSTM, BSHM, etc.). So if you were a BSHM student and you plan to respond to the
rising cases of diabetics, particularly on diabetic diets, what business is related to BSHM
that answers the problem? Note further that you have to consider the situation this
pandemic and beyond—meaning the problem is currently experienced during this
pandemic and has a potential to be felt even after pandemic.

In your pitch, be guided by the business model canvas (from right to left). The
objective of a business pitch is to get potential investors to invest in your business idea.
Hence, you assume that we, your listeners, are your potential investors so be able to
entice us to invest in your business idea.

You have a total of 10 minutes to present the key features of your business using the
parts of the business model canvas.

So, the following will be the composition and flow of discussion (same flow with the
written output). Note that time is limited so prioritize what you will emphasize in your
pitch. Other important information will be detailed in the written output.

1. Societal problem description.

-indicate data that such is a problem—meaning support it with a data from PSA, or
DOH, or news, or research. So, if the business is food for diabetics then present data
that there is a rising number of diabetic people.
2. Brief business description.
What is the business all about?
3. Customers
Not all will be your market. Say for an instance lipstick. Not all lipstick is for all women.
There is a lipstick for girls, for middle aged who are working, middle aged from the
high income, for senior citizens. Umbrella product is not for all, hence identify the
group of people whom you intend to sell your umbrella. Your slipper product is not
all, thus describe whom you intend to sell your slipper. It is impossible to target all as
your market/customer.

*note: in the context of marketing and entrepreneurship, market refers to an

individual or group of people who have needs and wants, ability to satisfy needs
and wants, and the willingness to satisfy needs and wants. In the context of finance
and economics, market refers to place where buying and selling happens, example
the internet or the market you are used to.
Thus, the market we refer to in our discussion here is in the context of marketing.

5. Channels
Objective here is to make the product available to the market. One of the changes
brought by the global mind (internet) even before pandemic is the direct channel.
More evident during this pandemic. Do you need intermediaries to bring your
product near to your market? What intermediaries do you need to bring your
product to your final consumer?
How can you attract your customers?
Are you going to use facebook? Lazada? Shopee? Amazon? Dental clinics? Drug
stores? Grocery store?

6. Customer relationship
How can you retain your market? Freebies? Customer service?

7. Key resources
6Ms (machines, manpower, money, materials, moment, methods).
What are key resources you need? If you intend to solve problem of diabetics in
terms of food through food packs (note that menu for diabetics is specialized—they
have to be selective of their food intake). What vegetables do you need? What
machine you need to produce the food packs?

8. Key activities
What are key activities needed by the business to satisfy the need of your market.
Problem solving is an activity but not a key activity for all, for a consultancy business
it is a key activity. Using the example on diabetic, what could be a key activity for
food packs for diabetics?

9. Key partners
Who will help you in bringing satisfaction to your market? Using the diabetic
example, maybe medical doctors, nutritionists, farmers, dietician, etc.
10. Cost structure
11. Revenue stream

Prepared by :

Lorraine Ngaosi
Mobile no: 09185553360
Messenger account: Lorraine Ngaosi
Email account: lbngaosi@slu.edu.ph

REFERENCES

https://tc2.ca/pdf/T3_pdfs/Independent_mindedness_Tutorial.pdf
https://osf.io/pjwgs/
https://www.mindtools.com/pages/article/resilience-quiz.htm
https://www.docpotter.com/thifor-test.html
https://keydifferences.com/difference-between-micro-internal-and-macro-external-
environment.html

COURSE SPECIFICATION

BACHELOR OF SCIENCE IN ENTREPRENEURSHIP with SPECIALIZATION in BUSINESS

ANALYTICS

GENTREP: ENTREPRENEURIAL MIND

1 Course Title ENTREPRENEURIAL MIND

2 Course Number GENTREP
3 Semester and Year short term
Offered
4 Credit Units 3 Units
5 Contact Hours 54 hours
6 Pre-requisites (if any) None
7 Co-requisites (if any) None
8 Course Description This course is designed to enable the students of any discipline to
understand the concept of the entrepreneurial mind. They will be
provided the opportunity to assess and develop their state of
mind, or the lens through which they see the world, or their thinking
process that influences their propensity and passion to engage in
entrepreneurial activities and outcomes. They will come to
appreciate the notion that entrepreneurship is applicable and
beneficial in all spheres of life and, thus, in any career path

Property of and for the exclusive use of SLU. Reproduction, storing in a retrieval system, distributing, uploading or posting online, or transmitting in any form or by any
means, electronic, mechanical, photocopying, recording, or otherwise of any part of this document, without the prior written permission of SLU, is strictly prohibited. 61
Through their study of the lives of successful entrepreneurs as well
as in conceptualizing and creating innovative products, students
will develop their minds to become independent, growth-oriented,
goal- oriented and effectuating, risk-managing, resilient,
opportunity- recognizing, and designing.
9 Course Learning At the end of the course, the entrepreneurial Louisians are
Outcomes expected to:
1. Relate SLU’s core values of Christian spirit, competence,
creativity and social involvement as they actively participate in
team entrepreneurial activities;
2. Discuss the role of entrepreneurship in socio-economic
development;
3. Manifest improvement in their understanding and appreciation
of entrepreneurship;
4. Discuss the entrepreneurial mindset needed in order to engage
in the entrepreneurial process;
5. Discuss the entrepreneurial mindset manifested by
entrepreneurs as the latter’s entrepreneurial life stories are
reviewed;
6. Manifest development of their entrepreneurial mindset;
7. Apply critical thinking and problem-based learning in
identifying and evaluating new opportunities and new product
ideas that are responsive to current business and
environmental challenges, according to their field of discipline;
8. Design and pitch new and innovative product ideas using the
business model canvass.
10 Learners’ profile and Expected enrolees are from the School of Accountancy,
context Management, Computing and Information Studies, School of
Engineering and Architecture, and School of Natural Sciences
learners who are from the various provinces in the Philippines and
who are restricted to have a face-to-face interactions in school.
11. Assessment and The activities will be administered through:
Evaluation Details a. Google Classroom and other applications in the Google Suite.
b. Printed materials that will be sent through express mail services.
12. Monitoring Details For students who have no internet connection but with
smartphones, laptop, and computer at home, they will be
monitored via:
a. Short messages services (SMS) at least once a week;
b. Video recording using their smartphones
Students with internet connection and smartphones but without
laptop or computer at home will be monitored through:
a. Fb messenger
b. Short message services (SMS)

Prepared by Reviewed by Approved by

LORRAINE B. NGAOSI GLORY I. DELA PENA DR. GEORGE K. RAMOS

Faculty– EHM Department Head – EHM Dean – SAMCIS

COURSE GUIDE

REF SAMCIS-BSE-BA-Gentrep
I. Course Title: ENTREPRENEURIAL MIND

II. Course Overview

This course is designed to enable you, learners, from any discipline to understand the
concept of the entrepreneurial mind. You will come to appreciate the notion that
entrepreneurship is applicable and beneficial in all spheres of life and, thus, in any career
path. Through the course content, you will be provided the opportunity to assess and
develop their entrepreneurial mind.

Through your study of the lives of successful entrepreneurs as well as in conceptualizing

and creating innovative products, you will develop your minds to become independent,
growth-oriented, goal-oriented and effectuating, risk-managing, resilient, opportunity-
recognizing, and designing.

Towards the ends of the term you are tasked to pitch your innovative idea using the
business model canvass.

III. Course Study Guide

As we face the new normal, we are challenged by not letting to have face to face
classroom set up but his challenge should be looked at as a way to further enhance our

The following guides and house rules will help you further to be on track and successfully
achieve the aims for this course:

1. Schedule and manage your time to read and understand every part of the module.
Read it over and over until you understand the point. Please note that due to the
problems on erratic internet connections and to be able to cooperate with the
government in observing the ECQ protocols, this online course will be delivered
asynchronously.
2. Study how you can manage to do the activities of this course in consideration of
your other modules from other courses. Be very conscious with the study schedule.
Post it on a conspicuous place so that you can always see. Do not ask your course
facilitator about questions that are already answered in the guide.
3. Keep abreast of important announcements, discussions, and other class activities.
Regularly check the STREAM page for possible announcements.
4. In doing your tasks, read and understand the instructions provided. Target the
highest standards, not the low standards in doing your assigned tasks. I know you
can.
5. You are free to browse and read the different materials even prior to doing the tasks
in each unit of the module. However, you need to ensure that you will not miss any
part of the module and you will not miss to accomplish every activity in every unit as
scheduled.
6. All course discussions will be conducted using Google Meet. If you will be using
mobile app of Google Meet, stay logged in so you can engage in the discussion
anytime and anywhere. If you are using the desktop app, regularly log in to stay in
the discussion.
7. All the discussions are academic discussions, which mean that the relevant
academic conventions apply.

a. Your post should be composed of complete and grammatically correct

sentences. Do not use abbreviations and acronyms unless these are introduced
in the readings, and do not write in text-speak. Avoid writing in all caps.
b. post appropriate and well-thought rejoinders. Avoid merely approving or
disapproving with your classmates and course facilitators. You need to support
your inputs in the discussions from reliable information and resources. Do not post
uninformed opinions.
c. Read and analyze the contributions made by your classmates in the discussion
forums. Respond appropriately and courteously. Always use proper language.
d. Be polite and respectful arguing a point and in defending your opinions. Do not
be rude and do not make remarks that may be construed as a personal attack.
Refer to ideas/statements, not the person. Remember that the objective of
academic discussion is to develop your critical and analytical thinking skills apart
from contributing to the wealth of knowledge.
e. Do not post lengthy contributions. Stick to the point. Be clear what your main
point is and express it as concisely as possible. Do not let the discussion stray.

8. Do not plagiarize and do not patch write. Patchwriting is still a form or plagiarism. It
refers to the act of making small changes and substitutions to copied source
material (Merriam-Webster, 2020).
9. Follow the schedule of course activities. Always remind yourself of deadlines. Read
in advance. Try to anticipate possible conflicts between your personal schedule and
the course schedule, and make the appropriate adjustments. Try your best to inform
through any means your course facilitator for any unavoidable delays or "absences"
or "silences" of more than a week's duration or other concerns.
10. Note that our Google Classroom is a virtual learning environment, not a social
networking site. Use your legal name and recent and appropriate ID photo on your
profile page for proper identification.
11. Lastly, you are the learner; hence, you do the module on your own. Your family
members and friends at home will support you but the activities must be done by
you. As Louisan, we always need to demonstrate our core values of competence,
creativity, social involvement and Christian spirit.

IV. Evaluation

To pass the course, you must:

1. Read all course readings and answer self- assessment activities, infographic,
relationship mind map, and write reflection papers.
2. Submit the final project (product idea pitch)
3. Do the Midterm and Final Examination

A. Formative Assessment
1. You are required to answer pre-assessment, self-assessment activities, and reflection
questions .
2. The reflection questions are designed to help you to critically analyze the course
readings for better understanding.
3. The completeness of your answers to the self- assessment activities, and reflection
questions will still be checked and will still be part of your grade completion. Hence,
self-assessment activities, and reflection questions must be left unanswered.
4. In doing your formative assessment activities. You can always ask the help of your
family.
5. The self-assessment activities, and reflection questions are required so you can take
it anytime within the scheduled days assigned for each unit.

B. Summative Assessment
Examinations: periodical evaluation (midterm and final)
Activities embedded in your module.
Final project: Product idea pitch with business model canvas

VI. Technological Tools

To be able to accomplish all the tasks in this course, you will be needing the
following software applications: Word Processing, Presentation, Publication, and
Spreadsheet. All materials and activities will be facilitated through Google Suite
Applications particularly, Google Forms, Google Hangouts, Google Meet, and
Google Doc. These are all available in the Google Suite package subscribed by
Saint Louis University for you.

Grading System
Midterm Grade
CS (activities -module 1-3) =70%
Examination =30%
Total 100%

Tentative Final Grade (TFG)

CS (activities, module 4-5; final output) =70%
Examination =30%
Total 100%

Final Grade Midterm 50% + TFG 50%

Prepared by:

LORRAINE B. NGAOSI
Course Facilitator

Rubrics:
Infographic and Comic strip rubric

Property of and for the exclusive use of SLU. Reproduction, storing in a retrieval system, distributing, uploading or posting online, or transmitting in any form or by any
means, electronic, mechanical, photocopying, recording, or otherwise of any part of this document, without the prior written permission of SLU, is strictly prohibited. 66
4 3 2 1 SCORE
Focus Clearly Defines the Defines the Fails to clearly
defines the purpose of purpose but define the
purpose of the the activity does not purpose of the
activity. with little clearly state activity.
Follows diversion from the purpose. Deviates from
thoughtful the topic It diverts from the topic
and relevant the topic
points of view
Connection Presents clear Presents an Presents Fails to make a
to readings connection apparent some connection of
between connection connection the lessons and
what is between the between readings
learned from lesson and lesson and
the lesson and other readings the readings.
further
readings
Connection Presents a Presents Presents No connection
to clear apparent some general between
experiences connection connection issues from experiences
from outside between experiences. and topic
experiences experiences
and topic and topic
Organization Reflection Reflection is Flow of Flow of
paper is presented in discussion is discussion is
exceptionally
5 an organized
3 somewhat 2 inconsistent.
1 score
Content well
• Includes all manner.
• All required organized.
• Some NoNo requiredof
transition
-required organized,
required Transition of
information Transition of ideas
information elements are
elements wellelements
written. ideas
areis ideasareis included
-quality of Transition of
including consistent
included slightly
included
data ideas are
additional observed
effective.
information
Mechanics
Infographic Demonstrates
• Organized Writing
• Good is lay- Contains
• Lay-out Largely
• Lay-out is
design an layout readable
out with several
distracts unreadable
disorganized
-layout exceptional
• Visuals some
• Visualization grammatical
content • Visual
-visuals amount
create of a consideration
fit the errors
• Design convey a
-design editing.
visual flow. to spelling,
content and visuals meaning
complements • Visuals to
Enjoyable grammar and are at contrary to
content read.
show sentence odds with content
connection construction. the
TOTAL to content content
Clarity • Main idea • Some • Confusing • Main idea is
-clear is obvious visuals are • Poor initial missing
impressions and easy not needed impression
to
understand
TOTAL

REFLECTION paper Rubric

Property of and for the exclusive use of SLU. Reproduction, storing in a retrieval system, distributing, uploading or posting online, or transmitting in any form or by any
means, electronic, mechanical, photocopying, recording, or otherwise of any part of this document, without the prior written permission of SLU, is strictly prohibited. 68
BUSINESS MODEL CANVAS PITCH RUBRIC
Criteria Excellent Proficient Sufficient Deficient
20 10 5 3
Value proposition The idea fully The idea The idea Idea is not
-compelling benefit addresses an addresses an addresses practical in the
-matches market’s identified problem identified some parts of market; key
problems that has a larger problem. the identified features of the
-key features of the social implication. Specific key problem product does
product Multiple key features of not match the
features of the the product fit market’s
product fit the the problem problem.
problem
Customer Segments 20 10 5 3
-customer profile The idea is perfect Idea is Idea Unable to
-Cluster with common for the target designed for designed is figure out who
needs market a well- without a well- is the target
-decision maker defined defined market/user for
target user target the idea
market/ user
Marketing 10 8 5 3
-Channels Extensive research Specific Limited Unclear
-Customer relations on channels of channels of channel of channel of
distribution. Display distribution. distribution. distribution and
specific and Presents how Limited plans no specific and
alternative to create to attract, alternative
channels. customer keep and channels.
Shows in depth relationship grow No clear plan
plan to attract, customer on attracting,
keep and grow keeping and
market. growing
customers
Key partners 10 8 5 3
-key partners Presented an General list of With missing Incomplete list
-key suppliers intensive list of key key partners. list of key of key partners
-invaluable allies partners. Provide Provide partners and and missing
-what they give to key expected from you expected limited expected
partners to key partners return from expected return
you. return from
you.
Key Activities 10 8 5 3
-important processes Present detailed list Presents There are Unclear
of key activities. general list of missing tasks activities.
activities /activities
Key resources 10 8 5 3
-vital materials, Materials/resources General Materials are Identified
ingredients are indigenous, resources are available but resources are
thoroughly available and supply is not unavailable
researched, and supplies are reliable and unfit for the
are fitted to the reliable idea.
idea.
Financial 10 8 5 3

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