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ENTREPRENEURSHIP
Quarter 1 – Module 1 : Lesson 1

RELEVANCE OF
ENTREPRENEURSHIP
Introductory Message
For the Facilitator:

Welcome to the Entrepreneurship Alternative Delivery Mode (ADM) Module 1,

Lesson 1 on Relevance of Entrepreneurship!

This module was collaboratively designed, developed and reviewed by educators

both from public and private institutions to assist you, the teacher or facilitator in
helping the learners meet the standards set by the K to 12 Curriculum while
overcoming their personal, social, and economic constraints in schooling.
This learning resource hopes to engage the learners into guided and independent
learning activities at their own pace and time. Furthermore, this also aims to help
learners acquire the needed 21st century skills while taking into consideration their
needs and circumstances.

In addition to the material in the main text, you will also see this box in the body of
the module:

The ability to listen is as important as the

ability to speak.” -Sheryl Sandberg

As a facilitator, you are expected to orient the learners on how to use this module.
You also need to keep track of the learners' progress while allowing them to manage
their own learning. Furthermore, you are expected to encourage and assist the
learners as they do the tasks included in the module.
For the Learner:
Welcome to the Entrepreneurship Alternative Delivery Mode (ADM) Module 1,
Lesson 1 on Relevance of Entrepreneurship This module was designed to
provide you with fun and meaningful opportunities for guided and independent
learning at your own pace and time. You will be enabled to process the contents of
the learning resource while being an active learner.
This module has the following parts and corresponding icons:

This will give you an idea of the skills or

What I Need to Know competencies you are expected to learn in the
module.

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 This part includes an activity that aims to check
what you already know about the lesson to take.
What I Know
If you get all the answers correct (100%), you
may decide to skip this module.

This is a brief drill or review to help you link the

What’s In current lesson with the previous one.

In this portion, the new lesson will be introduced

to you in various ways; a story, a song, a poem, a
What’s New
problem opener, an activity or a situation.

This section provides a brief discussion of the

What is It lesson. This aims to help you discover and
understand new concepts and skills.

This comprises activities for independent practice

to solidify your understanding and skills of the
What’s More
topic. You may check the answers to the
exercises using the Answer Key at the end of the
module.
This includes questions or blank
What I Have Learned sentence/paragraph to be filled into process what
you learned from the lesson.
This section provides an activity which will help
What I Can Do you transfer your new knowledge or skill into real
life situations or concerns.
This is a task which aims to evaluate your level of
Assessment mastery in achieving the learning competency.

In this portion, another activity will be given to

Additional Activities you to enrich your knowledge or skill of the
lesson learned.

Answer Key This contains answers to all activities in the

module.
At the end of this module you will also find:

References This is a list of all sources used in developing

this module.
The following are some reminders in using this module:

1. Use the module with care. Do not put unnecessary mark/s on any part of the
module. Use a separate sheet of paper in answering the exercises.

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2. Don’t forget to answer What I Know before moving on to the other activities
included in the module.
3. Read the instruction carefully before doing each task.
4. Observe honesty and integrity in doing the tasks and checking your answers.
5. Finish the task at hand before proceeding to the next.
6. Return this module to your teacher/facilitator once you are through with it.
If you encounter any difficulty in answering the tasks in this module, do not
hesitate to consult your teacher or facilitator. Always bear in mind that you are not
alone.

We hope that through this material, you will experience meaningful learning and
gain deep understanding of the relevant competencies. You can do it.

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 TABLE OF CONTENTS
CONTENT PAGES

TITLE PAGE ------------------------------------------------ i

INTRODUCTORY MESSAGE ------------------------------ --- ii

For the Facilitator --------------------------------- ii
For the learner ----------------------------------------- ii

WHAT I NEED TO KNOW --------------------------------- 1

Learning Competency --------------------------------- 1
Learning Objectives --------------------------------- 1

WHAT I KNOW ------------------------------------------------ 1

Task 1 ------------------------------------------------ 1

WHAT’S IN ------------------------------------------------ 2
Task 2 ------------------------------------------------ 2

WHAT’S NEW ------------------------------------------------ 3

Task 3 ------------------------------------------------ 3

WHAT IS IT ------------------------------------------------ 4

WHAT’S MORE ------------------------------------------------ 7

Task 4 ------------------------------------------------ 7

WHAT I HAVE LEARNED --------------------------------- 7

Task 5 -------------------------------- 7

WHAT I CAN DO ---------------------------------------- 8

Task 6 ------------------------------------------------ 8

ASSESSMENT ------------------------------------------------ 9

GLOSSARY ------------------------------------------------ 10

ANSWER KEYS ------------------------------------------------ 11

REFERENCE LIST -------------------------------------------- 12

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 WHAT I NEED TO KNOW

Lesson 1: Relevance of Entrepreneurship

This module is written for you to accomplish at home. It is carefully

designed so that you can work at your own pace and allow self-discovery of
the concepts through activities that you will perform. Activities are also
selected to allow independent learning which aims to develop your reading
comprehension skills through understanding written texts. It covers many
different learning situations where you can relate your personal experiences
on different practical scenarios about Entrepreneurship.

Learning Competency
Relevance of entrepreneurship
(note: no code)

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

1. Define the terms entrepreneurship and entrepreneur.

2. Respond to questions asked.
3. Demonstrate interest on entrepreneurship in everyday life and to the
society as a whole.

WHAT I KNOW

Task 1

Direction: Write TRUE if the statement is correct and write FALSE if

the statement is incorrect. Write your answers on your
notebook.

_____ 1. Business plays an important role in economy.

_____ 2. Lifestyles of society depend on the status of economy.
_____ 3. Selling is not a form entrepreneurship.
_____ 4. Entrepreneur is the owner of the business.
_____ 5. Problems of economy are nature as natural.

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 _____ 6. Entrepreneurship is relevant to your education.
_____ 7. Entrepreneurs must have characteristics of winning all
games in the market place.
_____ 8. People will always be happy if we all have greatness in
the world.
_____ 9. Entrepreneurship is complex.
_____10. Small and medium enterprises are not under
entrepreneurial world.

WHAT’S IN

Task 2

Direction: Analyze the picture. Answer the questions below on your

notebook.

1. What does the picture suggest?

______________________________________________________________
2. Is there safety observed by the consumers?
______________________________________________________________
3. What business do you think of engaging during this time of COVID
pandemic? Mention at least 3.
______________________________________________________________
______________________________________________________________
______________________________________________________________

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 WHAT’S NEW

Task 3

Direction: Match column A with column B. Write the term referred to

on your notebook.

A B

1. It involves developing new

products or improving existing A. Livelihood
technologies, processes, designs and
marketing to solve problems,
increase efficiency, reach new
customers, and ultimately increase
profits.
2. Involves sale or lease of any B. Entrepreneurship
product, service, equipment, etc. that
will enable the purchaser-licensee to
begin a business.
3. Refers to the act of creating a C. Social change
business or businesses while
building and scaling it to generate a
profit.
4. Refers to their "means of securing D. Socio-economic
the basic necessities (food, water,
shelter and clothing) of life".
5. The system of production, E. Business opportunity
distribution and consumption.
The overall measure of a currency
system; as the national economy.
6.Is a person who sets up a business F. Business venture
with the aim to make a profit.
7.Refers to any significant alteration G. Relevance
over time in behavior patterns and
cultural values and norms.
8.Related to the differences between H. Business innovation
groups of people caused mainly by
their financial situation.

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9. It is a new business that is formed I. entrepreneur
with a plan and expectation that
financial gain will follow. It is usually
formed out of a need for a service or
product that is lacking in the
market.
10. It is simply the noun form of the J. Economy
adjective "relevant," which means
"important to the matter at hand."

Explore!

1. How did you find the activity?

2. Are the terms familiar to you?
3. As an entrepreneur, do you think knowing these concepts could be
a great help? Why? Why not?

WHAT IS IT

Meaning of Entrepreneurship and Entrepreneur

(www.investopedia.com,www.reference.com ,www.europeanentrepreneurship.com)

Entrepreneurship
This is an act of creating a business or businesses while building and
scaling it to generate a profit. It is an important driver of economic growth
and innovation.
What people do to take their career and dreams into their hands and
lead it in the direction of their own choice. It is about building a life on your
own terms. No bosses! No restricting schedules! And no one holds you back!
(Batalla 2011).

An entrepreneur is…
A person who sets up a business with the aim of making a profit and
creating a new business, bearing most of the risks and enjoying most of the
rewards. An innovator, a source of new ideas, goods, services, and
business/or procedures. Playing a key role in any economy, using the skills
and initiative necessary to anticipate needs and bring good new ideas to
market (Batalla 2011).

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Note: Understanding what an entrepreneur is can help more people
recognize the value they contribute to the world. Entrepreneurs take the
idea and execute it while entrepreneurship is about execution of ideas.
Entrepreneurship in the Philippines (Batalla, V. (2011)
The notion of the entrepreneur is simply one who forms and manages
business that is apparent in government programs. It attempts to develop
small-scale industries. In the Philippines, many entrepreneurial
development-training programs rest on such assumptions. But even without
the presence of government support, the statistics for the past fifty years or
so on the number of businesses were mostly in food processing, property
development, and trade (including shopping malls).
In 2005, the top 50 Philippine corporations in terms of sales could be
broken down into 22 private domestic firms, 23 foreign firms, and 5
government-owned and/or controlled corporations (BizNews Asia 2007as
cited by Batalla, V., 2011). The 22 companies could be identified with 11
families and individuals, mostly Filipinos of Chinese ethnic background. The
11 families and individuals were the Zobel family (Ayala), the Lopez clan,
Lucio Tan, Henry Sy, John Gokongwei, Alfonso Yuchengco, Eduardo
Cojuangco Jr., Jose Yao Campos (Unilab Group of Companies), George Ty
(Metrobank), Mariano Que (Mercury Drug), and Tony Tan-Caktiong (Jollibee).

Importance of Entrepreneurship (www.reference.com)

1. Entrepreneurship generates new wealth in an economy.
2. Entrepreneurship decreases poverty.
3. It creates opportunities, ensures social justice, instills confidence and
stimulates the economy.
4. Entrepreneurship improves productivity
5. Entrepreneurs create jobs.
6. Entrepreneurs innovate.
7. Entrepreneurs create innovation and social change
8. Entrepreneurs give to society

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 Relevance of Entrepreneurship to SHS Students
(www.europeanentrepreneurship.com)

1. To prepare students for livelihood even before college.

2. Entrepreneurship education aids students from all socioeconomic

backgrounds to think outside the box and nurture unconventional
talents and skills.

3. Entrepreneurship develops their initiative and helps them to be more

creative and self-confident in whatever they undertake and to act in a
socially responsible way.

4. It exposes students to numerous opportunities to learn how to think

critically and analyze the pieces on the board.

5. Being aware of all the important factors and seeing how they affect
each other is the foundation of a smart decision-making process.

6. Students have to be exposed to real-world examples and learn from

their own experience.

7. Entrepreneurship education requires students to be innovative,

creative and collaborative with others.

8. Entrepreneurship education provides budding entrepreneurs with the

skills and knowledge to come up with business ideas and develop
their own ventures.

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 WHAT’S MORE

Task 4

Direction: In your notebook, accomplish the table by identifying at least 3

successful entrepreneurs in your locality. Indicate what they are selling in
the market. Write 2-3 sentences to describe how they succeed in the
business.

Successful Product they are What made them

Entrepreneurs Selling succeed in their
business

WHAT I HAVE LEARNED

Task 5

Direction: In your notebook, complete the following statements.

1. I have learned that

_____________________________________________________________________

2. I have realized that

_____________________________________________________________________

3. I will apply what I have learned

____________________________________________________________________

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 WHAT I CAN DO

Task 6

Direction: Do what are asked. Write your answers on your notebook.

1. How do you describe an entrepreneur?
________________________________________________________
________________________________________________________
2. What are the contributions that an entrepreneur gives to the society?
Mention at least 5.
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
3. Why is entrepreneurship important for students?
_______________________________________________________
_______________________________________________________
_______________________________________________________

ASSESSMENT

Task 7

Set A. Multiple Choice: Read and answer each statement carefully

then write the letter of the best answer on your notebook.

1. Who acts as a coordinating agent in a capitalist economy?

A. Manager C. Entrepreneur
B. Finance Officer D. Broker

2. Which of the following is not a definition of Entrepreneurship?

A. It creates opportunities, ensures social justice, instills confidence
and stimulates the economy.
B. It is an important part of the economic growth strategies of many
local and national governments around the world.

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 C. It refers to a person who sets up a business with the aim of making
a profit.
D. The act of creating a business or businesses while building and
scaling it to generate a profit.

3. Which of the following has relevance of Entrepreneurship to SHS Grade

12 students?
A. It generates new wealth in an economy.
B. It aids students from all socioeconomic backgrounds to think
outside the box.
C. It creates opportunities and ensures social justice.
D. It creates job.

4. Which statement is not correct about the status of entrepreneurship in

the Philippines?
A. The number of business establishments formed every year would
generally show an increasing trend.
B. Entrepreneurs are people who can secure resources such as
technology and information to gain distinct, sustainable, competitive
advantages.
C. In 2005, the top 50 Philippine corporations in terms of sales could
be broken down into 25 private domestic firms, 20 foreign firms, and
5 government-owned and/or controlled corporations.
D. The 22 companies could be identified with 11 families and
individuals, mostly Filipinos of Chinese ethnic background.

5. Which of the following words is not associated with entrepreneur?

A. Innovative C. Collaborative
B. Impulsive D. Creative

6. What is the most common reason given to people who choose to become
entrepreneurs?
A. To make a lot of money.
B. To escape the long hours associated with corporate jobs.
C. To be their own boss.
D. To be able to retire early.

7. All of the following are characteristics shared by successful entrepreneur

EXCEPT:
A. Passion C. Risk averse
B. Product/customer focus. D. Tenacity despite failures

8. Which of the following is NOT a common myth about entrepreneurs?

A. Everyone has the potential to be an entrepreneur.
B. Entrepreneurs are born, not made.
C. Entrepreneurs are gamblers.
D. Entrepreneurs love the spotlight.
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9. Influence on innovation and job creation best typifies entrepreneurial
firms _________.
A. Impact on society C. Economic impact
B. Impact on larger business D. Impact on the Government

Set B. In your notebook, copy and write √ if the statement is true and
write × if the statement is false, write it on the space provided.

10. Entreprenenur and inventor mean essentially the same thing.

___ True ___False

11. Entreprenenurial businesses include retailing, such as clothing and

furniture stores, but do not include service businesses.
___ True ___False

12. Entrepreneurship only pertains to starting new business, not existing

firms.
___ True ___False

13. The average entrepreneur does NOT make more money than someone
with a similar amount of responsibility in a traditional job.
___ True ___False

14. The number one characteristic shared by successful entrepreneurs is

creativity.
___ True ___False

15. After winning a medal for diving in olympics, Cheryl starts a diving
instruction school. This is an example of a lifestyle firm.
16.
___ True ___False

GLOSSARY

Entrepreneurship -Entrepreneurship is an act of being an entrepreneur, or

"the owner or manager of a business enterprise who, by risk and initiative,
attempts to make profits

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Entrepreneur-a person who organizes and manages any enterprise,
especially a business, usually with considerable initiative and risk.
Innovation- can refer to something new or to a change made to an existing
product, idea, or field.

Market- refers to the group of people/ consumers and organizations willing

and has interest to buy goods.

Customer-It refers to the group of people/ consumers and organizations

willing and has interest to buy goods.

Opportunities-Is a packaged business investment that allows the buyer to

begin a business. (Technically, all franchises are business opportunities, but
not all business opportunities are franchises.)

REFERENCES

Aclan, Eunice, Gracell Ann Saban, Kathleen Flores, and Jeremie

Fameronag. Oral Communication in Context. Manila: DomDane
Publishers and Dr. Eunice Miguel Aclan, 2018.

Ashman, Melissa. Introduction to Professional Communications. a Creative

Commons Attribution-Noncommercial-Share Alike 4.0International
License.

http://solr.bccampus.ca:8001/bcc/file/fca7693a-69e1-45fcaccd-
700bdbb2ae64/1/Introduction-to-Professional-Communications-
1532382809.pdf

https://www.communicationstudies.com/communication-process

https://www.communicationtheory.org/osgood-schramm-model-
ofcommunication/

https://www.communicationtheory.org/berlos-smcr-model-of-
communication/

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