Unit 1: Understanding the Concept of Entrepreneurship
Lesson 1
Entrepreneurship: Overview and
Concepts
Entrepreneurship
Senior High School Applied - Academic
What is
Entrepreneurship?
Do you want to be an
entrepreneur?
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Learning
Objective Explain the key concepts of
common competencies in
At the end of the
lesson, you should
entrepreneurship.
be able to do the
following:
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Who are the
entrepreneurs around
you?
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Can you name
some of the
most
successful
entrepreneurs
in the country?
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Entrepreneur
An entrepreneur is a
person who creates
unique ideas that will be
useful for starting a
business.
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Entrepreneurship
the science of converting
processed ideas into a
remarkable business
venture
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Why study
Entrepreneurship?
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Usefulness of the Course to the Students
1. It develops skills that will be needed in
starting up a business.
2. It enhances knowledge on how to operate
business.
3. It demonstrates how to manage a business.
4. Learners consider becoming an employer
rather than an employee.
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Usefulness of the Course to the Students
5. Learners change their attitude towards the
course as a means of living.
6. Learners change in personal and career
attitudes such as communication,
problem-solving, collaboration, motivation,
creativity, and teamwork.
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Importance of Entrepreneurship Education
1. key economic driver
2. increase the level of knowledge,
competence and improve the quality
of life
3. alternative career path
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Can you think of other
importance of Entrepreneurship
Education aside from those
already mentioned?
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Entrepreneurship Common Competencies
Competencies are
considered as the capability,
capacity and ability of the
learner in handling situations
in various areas in business
operations such as in
marketing, management,
production, and finance.
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What are the common
entrepreneurial
competencies?
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Entrepreneurship Common Competencies
1. Specific Goal Setting
2. Self-Efficacy
3. Need for Achievement
4. Ambition
5. Willingness to Learn
6. Adaptability and Flexibility
7. Willingness to Take Risk
8. Interpersonal Skills
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Competencies For Entrepreneurial Success
Competency Example
Integrity An entrepreneur
knows what is good
and right. Do what is
best for everyone and
do not act without
thinking.
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Competencies For Entrepreneurial Success
Competency Example
Conceptual Review outcome projects
Thinking in order to understand
where problems occurred.
Check the impact of the
proposed solution to both
customers and employees.
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Competencies For Entrepreneurial Success
Competency Example
Strategic Thinking An entrepreneur finds
ways to do things
faster or at less costs.
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Competencies For Entrepreneurial Success
Competency Example
Decisiveness An entrepreneur
switches to an
alternative strategy to
reach a goal. It
generates new ideas
and innovative
solutions.
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Competencies For Entrepreneurial Success
Competency Example
Customer A good entrepreneur
Relations Service knows what his or her
customer needs in
order to satisfy them
and have a long term
relationship.
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Competencies For Entrepreneurial Success
Other Competencies
Risk-taking
Collaboration
Commercial Aptitude
Optimism
People-centered
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Tip
The common competencies are
the skills you need in starting a
business. On the other hand, the
10 competencies discussed are
the skills that you need to be a
successful entrepreneur.
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Individual Activity
Do you have what it takes to be an
entrepreneur?
Answer the questionnaire in the Extend part of
the study guide.
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Questions
Part A.
1. What are the qualities that you possess as an
entrepreneurship student? Give at least 5 qualities
and explain each.
2. Among those qualities, rank them with 1 as the
highest and 5 as the weakest quality.
3. What are the benefits of studying entrepreneurship
to students?
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Questions
4. What entrepreneurial competencies do you
need to have to become a successful
entrepreneur?
5. What is the difference between a
businessman and an entrepreneur?
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Questions
Part B.
1. You saw your classmate who was inside the faculty room
alone using your teacher’s computer. Your teacher never
allows anyone to be in the faculty room unattended. Your
classmate looked up, saw you and knew you saw him. A
few days later, it was found out that confidential files have
been lost and everyone is being questioned. Should you
reveal what you saw? Which is a better example of
integrity: being honest or being loyal to a friend?
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Questions
2. A sales staff is having difficulty assisting a foreign
customer because he cannot speak English fluently. It was
seen by the manager. What should the manager do?
3. All finance staff have a meeting with suppliers at 9:00 in
the morning. Because of an accident on the road, it
causes traffic and it is the reason why you came late. If
you were the staff, what competency of entrepreneur you
should have in order to conquer the scenario?
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Wrap Up
An entrepreneur is a person who creates unique
ideas that will be useful for starting a business.
Entrepreneurship is the science of converting
processed ideas into a remarkable business
venture.
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Wrap Up
A businessman starts the business with an
existing idea or concept, while an entrepreneur
starts the business from his own idea or concept.
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Wrap Up
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Bibliography
Amit_selp. “Entrepreneurial Competencies.” Docuri. Accessed March 3,
2020.
https://docuri.com/download/entrepreneurial-competencies_59ae47b
2f581710a6200ff25_pdf#modals.
Dollingner, Marc. Entrepreneurship: Strategies and Resources 3rd Edition.
New Jersey: Prentice Hall, 2003.
Kotler, Philip & Gordon McDougall. Marketing Essentials. Prentice-Hall
Canada Inc., 1985.
Peters, Michael & Robert Hisrich. Entrepreneurship 4th Edition. McGraw-Hill
Book Co., 1999.
Seth, Shobhit. “ 5 Characteristics of Successful Entrepreneurs.”
Investopedia. Accessed March 3, 2020.
https://www.investopedia.com/articles/personal-finance/101014/10-c
haracteristics-successful-entrepreneurs.asp.
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