ENTREPRENEURSHIP

INTRODUCTION

Lesson 1. RELEVANCE OF THE COURSE

WHAT IS ENTREPRENEURSHIP?
- is the process of designing, launching, and running a new business, which is more
often than not, initially a small business, offering a product, process or a service for
sale or hire.

-It is also a capacity for innovation, investment, and expansion in new market,
products and techniques.

*The people who create these businesses are called ENTREPRENEURS.

BENEFITS OF THE COURSE TO THE SENIOR HIGH SCHOOL STUDENTS

1. Classify individual entrepreneurial interests.
2. Apply basic marketing acumen
3. Determine legitimate sources of resources
4. Analyze ownership structures.
5. Convert THREATS into OPPORTUNITIES
6. Adaptation of concepts and strategies for idea generation.
7. Evaluate feasibility of Ideas,
8. Discovery of entrepreneurial innovators who also have the competence edge
to start their own business.
9. Consider ethical and legal business practices.
10. Write a micro business plan

USEFULNESS OF THE COURSE TO THE STUDENTS

1. Develops skills in starting up a business.
2. Demonstrate skills in maintaining business in ling term basis.
3. Enhances knowledge of business operation and expansion.
4. Finds next level of training or access other resources and services.
5. Demonstrate business management
6. Use components of a business plan.
7. Considers to become employer rather than employee.
8. Changes attitude toward entrepreneurship as a means of making a living.
9. Changes in personal and career attitudes including:
a. Communication
b. Self-actualization
c. Ability to manage one’s own life
d. Self-concept and awareness
e. Problem solving
f. Self-management/personality responsibility
g. Collaboration/networking
h. Motivation
i. Creativity
j. Teamwork

IMPORTANCE OF ENTREPRENEURSHIP EDUCATION

1. Entrepreneurship is very important to our economy as Key driver.
It focuses in wealth and a high majority of jobs are created by small businesses
started by entrepreneurially minded individuals. It also gives taxes to the country
and the government will use it in the development of our economy.

2. Entrepreneurship education is an individual lifelong learning process.

It started as early as elementary school and progressed through all levels of
education. Students can be progressively performing more challenging educational
activities and develop the insight needed to discover and develop opportunities and
take advantage of these.
The development of a person is continuous and you will learn everything in the real
world (actual situation) because “Experience is the best teacher”.

3. Entrepreneurship will energize school management.

School in the area of entrepreneurship must be accessible, affordable and
accountable in producing successful students. It energizes the name of the school
and teachers because they are motivated to set a goal and that will result to a good
quality of education.

4. Entrepreneurship will transform learners to be innovators.

Learner must be equipped with the perseverance and determination of an
entrepreneurial mindset at the outset of their careers. They must be more engaged
and take ownership of their own success.

REASONS WHY ENTREPRENEURIAL EDUCATION SHOULD BEGIN NOW.

1. Entrepreneurship Education benefits every student by giving them alternate

career path at any time in their lives. Students should know how businesses
make money.

2. Entrepreneurship Education also provides an idea for teaching academic

subjects making those studies requisites in the real world. It helps every
student to prepare and ready for future situations.

3. It maintains the innovative and creative thinking skills of a person. Learners

should be innovators.

4. Most of the students who transfer or migrate to other communities

frequently want to come back to some point in their lives but they cannot
find a good job opportunity back home. (Ex. OFW)

Lesson 2. KEY COMPETENCIES AND COMMON COMPETENCIES

 Competencies- This can be considered as the capability, capacity and ability of
the learner in handing situation in various areas in business operations such in
marketing, management, production or technical, and financial.

In starting a business, learner should seek entrepreneurial competencies such as:

1. LOCUS OF CONTROL: Entrepreneurs must know how to determine the state to

which a person agreed that their actions can directly affect a situation or that
they can control a result. (ex. Behavior of the entrepreneurs or salesman
towards the customer)

2. SPECIFIC GOAL SETTING: Entrepreneurs should be motivated to set goals.

Goals must be specific, measurable, attainable, realistic and time-bound.

3. SELF-EFFICACY: Entrepreneurs must believe in their own ability of self-

confidence. Learners with high self-efficacy will persevere even in the face of
setbacks, will take negative feedback mire positively and use feedback to
improve their performance.

4. LAYERS OF COMPETENCY: Entrepreneurs should know the group of attributes,

some of which are applicable to all entrepreneurs, while others are
occupation/industry specific.

5. NEED FOR ACHIEVEMENT: Entrepreneurs must have high need for

achievement take responsibility for outcomes. Engage in activities that have a
moderate degree of consequences and require skill and effort.

6. AMBITION: Entrepreneurs must be motivated, persistent, and persevere even

in the face of situational challenges. They are patient and persistent,
passionate and goal-driven.

7. WILLINGNESS TO LEARN: Entrepreneurs should have strong willingness to

learn often pursue opportunities to acquire new skill and competencies.

8. STRONG INITIATIVE: Entrepreneurs must have a high initiative are often

driven to work hard. They frequently work independently to achieve task
master, regardless of the extra effort necessary.

9. ADAPTABILITY & FLEXIBILITY: Entrepreneurs must learn how to be a highly

flexible and adaptable often very well with a unique ability to choose actions
even without necessary information. Be flexible in dealing with different kind
of customers.

10.WILLINGNESS TO TAKE RISKS: Not only are successful learners willing to take
consequences, they can also identify and calculate risk. Entrepreneurs should
be willing to sacrifice their TIME, MONEY, and EFFORT.

11.INTERPERSONAL SKILLS: Learners with strong interpersonal skills has skills of

working well with people from different backgrounds.
These are the entrepreneurial skills needed in order to achieve objectives and
goals of the organization:

1. NETWORKING/COLLABORATION: is the ability to build professional

relationships or partnering with business contacts.

2. CREATIVE/CRITICAL THINKING: Learners who engage in creative thinking are

able to both generate innovative solutions and use relevant information to
understand the “greater picture”.

3. ORGANIZING: Successful entrepreneurs plan and prioritize work to ensure

time is managed effectively. They can work methodically and effectively
allocate time and resources.

4. CHECKING, EXAMINING & RECORDING: The ability to maintain confidential

records, easily allocate and complete appropriate forms and paperwork, detect
errors, and make the necessary corrections is vital to successful
entrepreneurship.

5. PLANNING: Entrepreneurs must be specific about the direction of their venture

and the strategy they will adopt to achieve their goals.

6. BUSINESS PRINCIPLES: Entrepreneurs must understand the basic principles of

business.

7. COMPUTER COMPETENCY: Entrepreneurs must be competent in the use of

basic computer hardware (ex. Printers, copiers, PC’s) and software (ex.
Spreadsheets, word processing).

8. WORKPLACE COMPETENCIES: Workplace competencies have been defined as

“the application of knowledge, skills, attitudes, values, and behaviors in the
workplace.

9. HIGH GROWTH, HIGH VALUE ENTREPRENEURSHIP: Entrepreneurs typically

offer incentive compensation, manage business operations, build a strong
entrepreneurial culture around determination and high work ethic.

10.INNOVATION & CREATION: Successful entrepreneurs apply their creativity to

the formulation of inventive systems and productions.

11.MARKETING: Successful entrepreneurs are competent in bot executing

strategies that promote their products and establish client/customer
relationships.

12.BUSINESS OPERATIONS: Entrepreneurs performs business operations such as

scheduling manpower, and maintaining inventories of goods and management
human capabilities. 0

13.RISK ASSESSMENT & MANAGEMENT: Entrepreneurs can handle risk

management and take into account legal actions.

14.FINANCIAL MANAGEMENT: Entrepreneurs are knowledgeable in assessing

financing needs, determining risks, and identifying sources of funds.

15.PROBLEM SOLVING & DECISION MAKING: Entrepreneurs who are skilled at

problem solving and decision-making are critical thinkers.
1O COMPETENCIES FOR ENTREPRENEURIAL SUCCESS.
1. INTEGRITY – The entrepreneur has a positive sense of values and personal
beliefs, making decisions honestly and fair.

2. CONCEPTUAL THINKING – The entrepreneur is prepared to use new

approaches and comes up with new Ideas that may enhance work.

3. RISK TAKING – The entrepreneur understands that risk taking means trying
to anticipate future problems thus solve new problems that may arise in
the business organization.

4. NETWORKING/COLLABORATION – Business partners that will help in

decision making, and business operations such as marketing, financial and
production.

5. STRATEGIC THINKING – The entrepreneurs understands that thinking

using strategies can help achieve goals in the organization. Strategy means
ways to accomplish something in relevance to the aims and objectives.

6. COMMERCIAL APTITUDE – the entrepreneur keeps himself updated with

developments in the locality: seeks out best practice: and identifies and
determines opportunities that are not common to others.

7. DECISIVENESS – the entrepreneur resolves issues as they arise in an

unavoidable situation and responds flexibly to deal with changing priorities
set by upper authorities.

8. OPTIMISM – the entrepreneur persists in pursuing goals despite hindrances

and problems; performs in the hope of success rather than fear of failures;
and manages difficult situation.

9. CUSTOMER RELATION SERVICE – the entrepreneur develops and builds

trust and long-term relationship with customers.

10.PEOPLE CENTERED – They build the total capability of the people involved.
They always consider the principles of inclusiveness in planning and
dealing with others.