HOUSE RULES:

1. Avoid absences
2. Do not be late (15 mins grace period)
3. Listen attentively
4. Do not make unnecessary noise
5. Raise your hand if you want to speak
6. Participate in all the activities
7. BE RESPECTFUL
MODULE 1:
 ENTREPRENEURSHIP
 ENTREPRENEUR
 RELEVANCE OF
ENTREPRENEURSHIP TO
SHS STUDENTS
WHAT IS ENTREPRENEURSHIP?
• The act of creating a business or businesses while building
and scaling it to generate a profit.
• 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.
• About building a life on your own terms. No bosses. No
restricting schedules. And no one holds you back.
WHAT IS AN ENTREPRENEUR?
• A person who sets up a business with the aim to make a
profit and creates a new business, bearing most of the
risks and enjoying most of the rewards.
• The term “entrepreneur” comes from the French word
entreprendre which means “to undertake”
• 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.
Type of Entrepreneur by Joseph Schumpeter

1. Megaentrepreneurs – Individuals who are willing to absorb

huge risks of using enormous amounts of capital in their
business ventures.

2. Microentrepreneurs – Individuals who are engaged in

micro or small businesses as an alternative formal
employment.
 RELEVANCE OF ENTREPRENEURSHIP TO
SHS STUDENTS:
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 must 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.
MODULE 2:
 ENTREPRENEURIAL PROCESS
 CHARACTERISTICS OF AN
ENTREPRENEUR
 CHARACTERISTICS OF A
FILIPINO ENTREPRENEUR
 ENTREPRENEURIAL DECISION
MAKING
 According to www.ideasforleaders.com, there are
three levels of competencies, which all entrepreneurs
need:

1. Personal competencies – These are your abilities to

ground yourself so that you are secure and self-assured in
whatever situation you may find yourself.
Ex. creativity, determination, integrity, self-criticism.
2. Interpersonal competencies – ability to lead, influence,
communicate, supervise, negotiate, and control people at
all levels.
Ex. communication, engagement, delegation

3. Business competencies – These are set of abilities and

knowledge that sets a company apart from its
competitors.
Ex. business vision, financial management, networking
 ENTREPRENEURIAL PROCESS
• Discovery – refers to the recognition of a business
idea or the detection of opportunities that could make
money for the entrepreneur.
• Development of concept – gives more details on how
the general business idea can be realized
• Organizing resources – Describes the process of
identifying, sourcing, and financing human, non-
human and other resources needed for the conduct of
business.
• Implementation – The process of carrying out the
business plan. It covers several activities, including
the management of human, physical, technological,
and financial business of the business.
• Reaping the returns – pertains to the strategies related
to the expansion of the business firm. It also covers
mechanisms for addressing conditions in the business
environment that may affect the future of the firm.
CHARACTERISTICS OF AN ENTREPRENEUR
1. Entrepreneurial Traits and Creation of value added
• Level of education – Studies have shown that
entrepreneurs need some formal education to be able to
seize the opportunities presented by inventions,
innovations, and other technological developments.
• Employment Status – Individuals who become
entrepreneurs in developed countries are usually former
employees of companies in the formal sector.
• Entrepreneur’s wealth – the wealth of the entrepreneur is
also an important factor. Usually, megaentrepreneurs
source their funds from their own wealth and from their
families.
• Risk appetite – Risks are associated with uncertainties in
business operations. These uncertainties can threaten the
survival and stability of a business enterprise.
2. Entrepreneurial traits and Entrepreneurial
Intentions
• Internal Factors – Include mainly the qualities of individuals such
as:
a. Demographics d. Individual's skills
b. Personal Traits e. Prior knowledge
c. Psychological characteristics f. Social Ties
• External Factor
a. Environmental support
b. Environmental influence
CHARACTERISTICS OF FILIPINO ENTREPRENEURS
1. In terms of Gender, it is interesting to note that there are more
females than males that are engaged in the early stage
entrepreneurial activities in the Philippines.
2. In terms of age, entrepreneurship in the country attracts more
young individuals.
3. In terms of Educational Attainment, almost half of
entrepreneurs in the early stage development have finished
secondary schools. However, entrepreneurs that owns firms at
the mature age of entrepreneurship have higher levels of
education.
 ENTREPRENEURIAL DECISION MAKING
1. Critical Thinking – refers to the systematic and rational way
of providing an answer to a question.

2. Creative Thinking – refers to thought processes that bring

about the discovery of new ideas.

3. Strategic Thinking – involves thought processes that assess

current situation that can be useful in the formulation of plans.
ENTREPRENEURIAL PROCESS:

Imagine yourself having a business of your own. Identify the

process you used in setting – up your business by using the
entrepreneurial process as a guide.
Discovery

Development of Concept

Organizing Resources

Implementation

Reaping the Returns

S.W.O.T. Analysis:
Identify the Strengths, Weaknesses, Opportunities and
Threats of your chosen business.
Strengths

Weaknesses

Opportunities

Threats

LOGO:
Create or design your business logo.
MODULE 3:
 SOURCES OF IDEAS FOR
ENTREPRENEURIAL VENTURES
 METHODS FOR GENERATING OR
TESTING NEW IDEAS
 CREATIVITY
 SOURCES OF IDEAS FOR
ENTREPRENEURIAL VENTURES
a. From the existing product or services
b. From the process
c. From the person and from prior employment
d. From relations
 METHODS FOR GENERATING OR TESTING
NEW IDEAS
1. Generating Business Ideas through Logical Thinking
 Logical thinking – refers to the systematic and rational way of
providing an answer to a question.
 Statistical analysis – refers to a systematic analysis of data
generated from a survey of individuals.
• Market analysis – knowing the various factors that affect the
demand for a particular product or services.
• SWOT analysis
2. Generating Business Ideas through Creative Thinking

 Brainstorming – refers to an unstructured discussion of a group

to elicit ideas.
 Problem Inventory Analysis – it is directed to identifying all
possible problems
 Free Association Method – it can draw from participants ideas
that are associated or linked with a given idea or word. From
the process of association, the group can come out with an idea
or set of ideas that can be the basis for business ventures.
3. Generating Ideas through Trends in Business
Environment

✓ Bargaining powers of Competitors and Suppliers

✓ Major shifts in government involvement in business
✓ Sociodemographic changes
✓ Technological developments
 CREATIVITY
Creativity can be described as the capacity of individuals to
originate new ideas from ideas the individual has been
previously expose.

Factors that influence creativity:

A. Problem Solving Factors
B. Motivational Factors
C. Situational Factors
D. Organizational Factors
Creative Problem Solving
Creative Problem Solving (CPS) is a procedure of answering a
problem with mechanisms and techniques incorporating
creativity.

SIX STEPS in CPS:

1. Setting the objective – This involves the identification of an objective
that an individual wishes to achieve.
2. Revisiting the objective – This stage involves the search for studies,
reports, analyses, and papers related to the objective set.
3. Identifying the problem – This process involves divergent thinking
processes in seeking the possible issues, challenges, problems that may
emerge from the objective set.
4. Looking for a solution – Once the problem has been identified, another
series of divergent thinking in generating ideas for the solution of the
problem is needed.
5. Selecting a solution – Once enough options are given from the
divergent thinking process, a convergent evaluation process of weighing
the significance, relevance, and feasibility of these options is undertaken.
6. Accepting the solution – In our chosen problem, we have selected a
solution.
MODULE 4:
 OPPORTUNITY RECOGNITION
PROCESS
 OPPORTUNITY ASSESSMENT
 OPPORTUNITY RECOGNITION PROCESS

Five Stages of Opportunity Recognition Proces:

(according to Hills, Shrader and Lumpkin)

✓ Precondition – A preparatory stage, during which the individuals

assesses his knowledge of the market. His prior knowledge of the
market is extensively shaped by his educational background, formal
training, personal experiences including travel, and previous
employment.
✓ Conception – This is the gestation phase, during which
entrepreneurial intentions and ideas are generated using logic and
creative thinking.

✓ Visioning – this third stage provides the individual a hunch that

can serves as an opportunity for business.

✓ Assessment – This stage involves the evaluation on whether the

idea can be realized or not.

✓ Realization – The last phase suggests the production of a

prototype.
Factors in opportunity recognition
crafted by Hisrich, Peters, and Shepherd (2010)

 Market Awareness – refers to personal exposure to market and its

components including customers and suppliers.

 Entrepreneurial Readiness (entrepreneurial alertness) – refers to the

variety of features of an individual to start a business venture. It covers
all types of resources that the individual possesses including financial,
physical, and human resources.

 Connections (networks) – Business opportunity recognition is

heightened when the individual has a diversity of networks.
 OPPORTUNITY ASSESSMENT
Opportunity assessment refers to the process of evaluating the likelihood
that the opportunity can be realized.

 Product or Service – What is the unique feature of the product or

service? Why will the consumer purchase this commodity?
 Market Opportunity – Is it easy to enter the market? How different is
the product or service that you want to introduce compared to the
existing products and services in the market?
 Costing and Pricing – The price of a product or service would depend
on the cost of raw materials and other factors of production.
 Profitability – Primary motivation of venturing into a business is to earn
profit.
 Resource Requirements – The raw materials that need further
processing and the processing inputs which include labor, capital, and
technology.
 Risks – These are uncertain situations that can increase the probability
of loss or failure of a business venture.
 Entrepreneurial Commitment – Commitment of the individual to pursue
the realization of its business idea.
MODULE 5:
 What is a Business Plan?