ENTREPRENEURIAL MIND

Module 1

Lesson 1
Activity 1. (Self-assessment)
Find out if you are the sort of person that could set up and operate business. Check YES if the statement
applies to you and check NO if does not.
Yes No
1. I think that a routine pattern of life with regular working hours suits me best. ✓
2. I have always thought and acted by myself. ✓
3. Sometimes I think I seem to achieve nothing. ✓
4. It is not good to start something unless you are going to finish it. ✓
5. I am much happier when I do not have to rely on other people. ✓
6. I often feel that I am the victim of events that I cannot control. ✓
7. In any bad situation I always get something good for it. ✓
8. It is very important to me that people recognize my success. ✓
9. I am not too ambitious so that I can avoid being disappointed. ✓
10 I am prepared to take the risks only after that I thought about all of the ✓
. possible consequences.
11 When I talk to a senior person I do not usually say what I mean. ✓
.
12 People often tell me that I am good at understanding their point of view. ✓
.
13 The amount of money that I earn is more important than how hard I work to ✓
. earn it.
14 I usually work later than I plan. ✓
.

Activity 2. (20 pts)

1. Write down at least 10 qualities that you possess as a business students.
willing to learn sets goals
knows when to ask for help motivated
responsible risk taker
well-disciplined knows how to manage time
organized able to deal with failure

2. Among those qualities, rank them with 1 as the highest or strongest quality and 10 as the lowest
or weakest quality.
1. willing to learn 6. motivated
2. able to deal with failure 7. knows how to manage time
3. responsible 8. well-disciplined
4. organized 9. knows when to ask for help
5. sets goals 10. risk taker

3. Among the core competences in entrepreneur, what are the competencies that you need to
become successful entrepreneur? (Minimum of 3 Sentences and Maximum of 5)
 I think all those competencies are needed in order to become a successful entrepreneur. But for
me, what I really needed are specific goal setting, self-efficacy, willingness to learn, and
willingness to take risk. I did chose those competencies because it’s more about yourself and the
willingness that you might need in order to become a successful entrepreneur.

Activity 3. (10 pts)

Directions: I am sure you know or have heard already the term “Entrepreneurship”. Please write down
your own definition and compare with definitions in this module and in other books/online reference.
Write your answer inside the table provided below. (Provide extra yellow pad paper or bond paper if
necessary)
Definition of Entrepreneurship Definition with other book (State the Title of
on this module the book and name of the author or scholars) Your own definition

Entrepreneurship is a process of Entrepreneurship has long been seen as a key Entrepreneurship is the
actions of an entrepreneur who driving force of a free market economy. act of developing and
is always in search of something (Economic Round-Up, Kruno Kukoc, Dominic running your own
new ideas into gainful Regan) business.
opportunities by accepting the
risk and uncertainty of the
enterprise.
Entrepreneurship employs what Entrepreneurship is defined as internal Entrepreneurship has
Schumpeter called the “gale of innovation, the search for opportunities, and the ability to improve
creative destruction” to replace adaptation and learning processes. the life of the people
wholly or partly inferior (Geography Compass, Jose Antonio Cabrera and create wealth.
innovations across markets and Pereyra)
industries. This destruction
simultaneously creates new
products and new business
models.
Entrepreneurship ranges in Entrepreneurship is the pursuit of a Entrepreneurship brings
scale from solo projects (even discontinuous opportunity involving the changes in the economy
involving the part-time creation of an organization (or sub- and society not only in a
entrepreneur) to major organization) with the expectation of value country but also of
undertakings that create many creation to the participants. those in the world.
job opportunities. (Annual International Council for Small
Business, Robert B Carton, Charles W Hofer,
Michael D Meeks)

Activity 4.
Essay Writing:
Among the types entrepreneurs written on this module, which type of entrepreneur do you see
yourself? What are the characteristics or factor do you have to consider in this type of entrepreneur?
(Minimum of 3 Sentences and Maximum of 5)(10 pts)
I see myself as a social entrepreneur. In this type of entrepreneur, you need to consider on being
initiative, confident, self-critical, be a planner and a risk-taker. This factors could serve as your guidance
in order to be a great successful entrepreneur.
Lesson 2
Activity 1.
Satisfy the demands of the following. Use extra paper if needed.
(Answer requirement: minimum of 3 sentences and a maximum of 5 sentences-5 points each)
1. Explain the relevance of Entrepreneurship in our country and to an organization?
The Philippines is a haven for the development of entrepreneurs and as a developing country, the
resources for development are varied and numerous. In the age of globalization, the small and
medium enterprise should come and explore the wide area of business opportunities.
Entrepreneurship results in creation of organization when entrepreneurs assembled and coordinate
physical and financial resources and direct them towards achievement of objectives through
managerial skills. By creating productive organizations, entrepreneurship helps in making a wide
variety of goods and services available to the society which result into higher standard of living for
the people.

2. Enumerate and explain the concepts of entrepreneurship.

Entrepreneurship is a process of actions of an entrepreneur who is always in search of something
new ideas into gainful opportunities by accepting the risk and uncertainty of the enterprise. If it
describes activities within a firm or large organization, it is referred to as entrepreneurship. This may
include corporate venturing, when large entities spin off organizations. Entrepreneurship ranges in
scale from solo projects (even involving the part-time entrepreneur) to major undertakings that
create many job opportunities.

3. Briefly discuss the core competencies and factors affecting entrepreneurship.

The core competencies in entrepreneurship are economic and dynamic activity, innovation, profit
potential, and risk bearing. This core competencies are the resources and capabilities that comprise
the strategic advantages of a business. There are two factors that can affect entrepreneurship, the
personal and the environmental. It is not easy to deal with this factors, all you have to do is motivate
yourself because it’s the only way that keeps everything going on.

4. What are the functions of entrepreneurs?

The important functions performed by an entrepreneur are innovation, assumption of risk, research,
development and management skills, overcoming resistance to change, and catalyst of economic
development. This functions are performed to initiate a venture and growing it smoothly. All this
function will benefit the economies of the countries as well as the world bodies.

5. Differentiate the types of entrepreneurs.

Innovative entrepreneurs are the business leaders and contributors to the economic development
of the country. Entrepreneurs who follows the path shown by innovative are the imitating
entrepreneurs. Another type of entrepreneurs are the fabian, they are sceptical about the changes
to be made in the organization, they do not initiate any inventions but follow only after they are
satisfied with its success rate. Drone entrepreneurs are those individuals who are satisfied with the
existing mode and speed of business activity and show no inclination in gaining market leaderships.
The last entrepreneurs are the social, this type of entrepreneur drive with social innovation and
transformation in various fields including education, health, human rights, workers’ rights,
environment and enterprise development.
 6. Explain the concept of the core competencies in entrepreneurship.
Core competencies in entrepreneurship are the resources and capabilities that comprise the
strategic advantages of a business. Also, it helps in creating and developing new goods and services.
They also help make sure you have consistent performance standards for employees, which can
help with employee engagement.

Lesson 3
Activity 1.
Explain the following concepts. (Minimum of 3 sentences and maximum of 5 – 20 points)
7. Select one of your favourite restaurant or other establishment and identify how the business
employ 7 Ps.
“Just 28” is located at San Carlos City, Negros Occidental, they sell different products as long as it’s
essential for the people. I can say that their products are affordable because I’ve been there.
Sometimes, their products have discount. They post it on social media like Facebook whenever there
is a sale so that many people will able to know and go there. In their packaging, they use what we
called “poyo-poyo” because plastics are not allowed.

Activity 2. Case Analysis

Questions: (Minimum of 3 sentences and maximum of 5 – 5 points each)

CASE 1: CUTFLOWER BUSINESS

Paula and Victoria are childhood friends. They were classmates in elementary school in their
hometown in Atimonan, Quezon. Their families separately own more than twelve hectares of farmlands.
As children, they grew roses in their own little plots for their love flowers.
After Paula got her BS in Commerce degree at St. Scholastica College of Manila, she went back
to Atimonan, Quezon to try her luck in business. She found her friend Victoria, who got a degree of
Horticulture from the University of the Philippines, attending to her blooming rose farm.
Paula’s farm is currently producing 80,000 dozens of roses annually and is supplying an area as
far as Olongapo City. Paula persuaded her friend Victoria to go into the cutflower business until they
attended a seminar on cutflower production. The speaker impressed on them the vast potential of
exporting cutflowers to China, Singapore, London, Australia, United States and Great Britain.
Paula and Victoria understood the opportunities of tapping the export market. It would mean
bringing in more dollars for the country and the employment that would give to some people a help.
These are in addition to the opportunity of making profits and income both for the owner and
employees.
Both are determined to go into exports but they are worried about the funding and the
organizational requirements of such business ventures. Managing production alone is more than a man-
sized job. They contended that the same is true with purchasing, marketing, and finance.

Questions: (Minimum of 3 sentences and maximum of 5 – 5 points each)

1. Based on the case, what is the best place or criteria to consider in choosing a place?
The best place or criteria to consider in choosing a place is that, before you start looking for a
business location, you should have a clear picture of what you have and what you want to have in
the future. The location needs to be consistent. Especially when your business is cutflower, you
 need to observe the climate there and also it is important that it is not overcrowded because it
might affect the growth of the flowers.

2. What strategy is needed to be developed in order to attain profit and growth?

Making your business more profitable involves looking at ways to increase sales revenue as well as
decreasing your costs and benchmarking your business to see where you can save money. You need
to find new customers, review current pricing structure, reduce your inventory, reduce your overall
direct costs, reduce your overheads. These strategies may sound like simple, but being able to
effectively manage your finances and execute it, is hard.

Activity 3.
(Minimum of 3 sentences and maximum of 5 – 5 points each)
1. Think of an entrepreneur or business that manifest a good marketing skills or strategy. Give
reason and write it on the space provided. (You can use extra paper if necessary).
“Thelma Canillo’s Native Bags” is located in Barangay Mahilum, Calatrava, Negros Occidental. Their
strategy in selling their products is through online, they post it on social media apps like Facebook so
that many people could see it. Some also when they discovered this business, they go there and buy
products personally. Mrs. Thelma’s business or products have gone to the other countries.

2. How effective is networking as a strategy today? Cite a networking company and discuss its
uses.
China-based networking vendor “Huawei” has started to create a power struggle between the
United States and Chinese governments. Last summer, the United States put a sanction on Huawei
products, prohibiting American companies from using Huawei technology if they had any affiliation
with the government. In addition, the sanction prevented these companies from having Huawei
technology in any part of their global supply chain. Despite these sanctions, Huawei is fighting
political pressure to stand as one of the globe’s top networking platforms.