GEN 009: Entrepreneurial Mind

Module #1 Student Activity Sheet

Lesson Title: Course Orientation & Characteristics and Material: SAS

Traits of an Entrepreneur
Reference:
Learning Targets: Go, Josiah (2018) Entrepreneurship:
At the end of the module, students will be able to: Starting an Enterprise. Having an
1. Identify the course requirements Innovation Mindset.
2. List Entrepreneurial characteristics and traits

Productivity Tip:
After finishing this module, explain quickly what you have learned to your parents, tell them what are the
things you need to complete and to submit. They will surely support you.

A. LESSON PREVIEW/REVIEW

Introduction

Welcome to GEN 009 Entrepreneurial Mind! You want to be an Entrepreneur? Or you know someone
who is an entrepreneur? Someone who builds or starts his own business is an entrepreneur. Are you now
eager to learn all these things? Let’s start now!

However, before going to the Main Lesson for today, please read first the Course Outline so that you
will be familiarized with the Topics, Reference, and the Requirements for this Course.

B. MAIN LESSON

Content and Skill-Building

Topic # 1 Class Procedures and Policies

1. Structure of Learning will be a mixture of face-to-face meetings, independent learnings, and

engagements through Google Classroom and instant messaging apps such as Messenger.

2. In situations where there are no face-to-face meetings, learning will be home-based.

3. Make sure that you have complete copies of the printed modules and be responsible for your own
portfolios.

4. Log-in at the designated Google Classroom before the start of the classes. Invites will be automatically
sent to your email. In case you will not receive an invite for the Google Classroom, please email or
contact the faculty in-charge for this course.

5. All activities and requirements should be submitted on the specified dates otherwise point deductions
will be applied against it.

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 GEN 009: Entrepreneurial Mind
Module #1 Student Activity Sheet

6. Please be reminded that copying others work and submitting it as your own is not allowed in the
university

Topic # 2 Characteristics and Traits of an Entrepreneur

An Entrepreneur

● The word entrepreneur is derived from the French word “entreprendre” which means “to
undertake or to try”.
● A common definition of an entrepreneur is someone who establishes a new entry to offer a new
or existing product or service into a new or existing market, whether it is for a profitable or non-
profitable outcome.
● An entrepreneur is an individual who is able to perceive an opportunity for a business and create
an organization to develop and manage that business successfully.
● An entrepreneur is an individual who organizes, manages and assumes the risks of a business.

What You Need to Become an Entrepreneur

● Qualities like passion, tenacity, vision, and self-confidence

● A great idea that people will pay money for
● A plan of success
● Consistent execution of the plan

Characteristics and Traits of an Entrepreneur listed by International Labor Organization

Characteristics Traits
Self-confidence Confidence
Independence
Individuality
Optimism
Task-oriented Need for achievement
Profit-oriented
Persistence
Determination
Perseverance
Hard work
Drive
Energy
Initiative
Risk-taker Risk taking ability
Likes challenges
Leadership Leadership behavior

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 GEN 009: Entrepreneurial Mind
Module #1 Student Activity Sheet

Gets along well with others

Responsive to suggestions and criticisms
Originality Innovative
Creative
Flexible (openness of mind)
Resourceful
Versatile
Knowledgeable
Future-oriented Foresight
Perceptive

Check for Understanding

Try to finish the exercise before going through the Answer Key at the last page. This will help in
checking if you have understood the lessons in this module before going to the next module.

Exercise 1: Read each statement below. Check “True” if the statement fits or describes you, and check
“False” if it does not fit or does not describe you.

Entrepreneurial Mindset Self-Assessment Test

1. I am comfortable speaking to a large group of people or in public.

_____ True _____False

2. When I encounter a difficult situation, I am confident things will turn out for the better.
_____ True _____False

3. When I fail at something I start anew and keep at it until I succeed.

_____ True _____False

4. When I see something that needs to be done, I start working on it without waiting to be told.
_____ True _____False

5. I am not afraid of trying new things.

_____ True _____False

6. I am not afraid to fail.

_____ True _____False

7. I am comfortable working with other people.

_____ True _____False

8. I can persuade others to a course of action I think is the best.

_____ True _____False

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 GEN 009: Entrepreneurial Mind
Module #1 Student Activity Sheet

9. I am not offended by criticisms. I take them as opportunities to learn and to improve.

_____ True _____False

10. I do not avoid problems. I find ways to solve them.

_____ True _____False

11. I can look at a problem from different perspectives and come up with creative alternative solutions.
_____ True _____False

12. I choose to do something or make decisions on their consequences.

_____ True _____False

⮚ How many of your answers are “True”? __________

⮚ How many of your answers are “False”? __________

Exercise 2: Check out the picture and read the quote below. Then answer the questions that follow.

1. Who is this person? ____________________________________________________________

2. What is he famous for? __________________________________________________________

3. What one word is described in the quotation above? __________________________________

C. LESSON WRAP-UP

Frequently Asked Question

1. Are entrepreneurs made or born?

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 GEN 009: Entrepreneurial Mind
Module #1 Student Activity Sheet

Entrepreneurs are both made and born. The characteristics, traits, skills and values that
help successful entrepreneurs meet different challenges can be both sharpened and learned.

Thinking about Learning

Congratulations for finishing this module! Shade the number of the module that you finished.

Did you have challenges learning the concepts in this module? If none, which parts of the module helped you
learn the concepts?
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Some question/s I want to ask my teacher about this module is/are:

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 GEN 009: Entrepreneurial Mind
Module #2 Student Activity Sheet

Lesson Title: Entrepreneur and Entrepreneurship Material: SAS

Learning Targets: Reference:

At the end of the module, students will be able to: Go, Josiah (2018) Entrepreneurship:
1. Define what is an entrepreneur and entrepreneurship Starting an Enterprise. Having an
2. Identify the traits of a person with an entrepreneurial Innovation Mindset.
mind

Productivity Tip:
Good time management is essential to success. Success is a friend, parent, spouse, fitness, anything…
requires good time management skills.

A. LESSON PREVIEW/REVIEW

Introduction

Good day! Welcome to GEN 009 Entrepreneurial Mind’s Module #2. Let us begin our lessons for
today!

Please read the learning targets before you proceed to the succeeding sections of the module. The
learning targets are your goals. Remember, you need to achieve the learning targets at the end of the lesson.

B. MAIN LESSON

Content and Skill-Building

Topic # 1 Entrepreneur and Entrepreneurship

An entrepreneur is someone who locates the need of society and tries to meet the same, with his/her
innovative idea. On the other hand, ‘entrepreneurship’ refers to the process of establishing a business entity,
intending to get profit, as a return in the future.

“Entrepreneurship rests on a theory of economy and society. The theory sees change as normal and
indeed as healthy. And it sees the major task in society - and especially in the economy - as doing something
different rather than doing better what is already being done. That is basically what Say, two hundred years ago,
meant when he coined the term entrepreneur. It was intended as a manifesto and as a declaration of dissent:
the entrepreneur is upset and disorganized. As Joseph Schumpeter formulated it, his task is "creative
destruction.”

― Peter F. Drucker, Innovation and Entrepreneurship: Practice and Principles

The Evolution of the Concept of Entrepreneurship

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 GEN 009: Entrepreneurial Mind
Module #2 Student Activity Sheet

Early Exchange of Goods – Bartering to the Use of Money

As early as 10,000 B.C. people were already engaged in exchanging goods and services – food, shelter
and clothing, with other people in order to survive. The earliest form this exchange took is the barter system.
People exchanged goods or services with other people for goods or services that they need. After a while,
money was invented as a tool for exchanging goods or services

Check for Understanding

Try to finish the exercise before going through the Answer Key at the last page. This will help in
checking if you have understood the lessons in this module before going to the next module.

Exercise 1: Identify two characteristics of an entrepreneur common among the three authors discussed below.
Why are these characteristics important to an entrepreneur?

20th Century Authors on “Entrepreneurship”

Joseph Alois Shumpeter. In the 1930’s, Shumpeter defined entrepreneurship in the context of the
functions and activities related to innovation. “For him, the entrepreneur is someone who adds new features to
an existing technology in order to produce a new commodity or to produce an old commodity by using new
technology or someone who sells existing commodities to new buyers who may be hearing of the product for the
first time. Thus, for Shumpeter, an entrepreneur breaks with the old tradition and finds new or novel ways to
produce and sell his products.” [Diaz and Fajardo, p. 17]

Peter F. Drucker. He was considered one of the most influential thinkers on management. In 1964,

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Module #2 Student Activity Sheet

Drucker said that entrepreneurship is the “maximization of opportunities.” For him, an entrepreneur is an
innovative person who “searches for change, responds to it and exploits opportunities.” [Diaz and Fajardo, p. 20]

Howard H. Stevenson. He is a professor at Harvard University and is considered the godfather of

entrepreneurship studies at the Harvard Business School. According to Professor Stevenson, “entrepreneurship
is the pursuit of opportunity beyond resources controlled.” An entrepreneur needs to be “inventive, creative,
opportunistic, and persuasive” because he does not always have all the resources he needs or that available
resources are limited. [Diaz and Fajardo, pp. 20-21]

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C. LESSON WRAP-UP

Frequently Asked Question

1. What are the basic survival skills needed to run a business?

The basic survival skills include a working knowledge of basic recordkeeping; financial
management; personnel management; market analysis; break-even analysis; product or service
knowledge; tax knowledge; legal structures; and communication skills.

Thinking about Learning

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 GEN 009: Entrepreneurial Mind
Module #2 Student Activity Sheet

Congratulations for finishing this module! Shade the number of the module that you finished.

Did you have challenges learning the concepts in this module? If none, which parts of the module helped you
learn the concepts?
_______________________________________________________________________________________
________________________________________________________________________________________

Some question/s I want to ask my teacher about this module is/are:

________________________________________________________________________________________
________________________________________________________________________________________

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 GEN 009: Entrepreneurial Mind
Module #3 Student Activity Sheet

Lesson Title: Functions of the Entrepreneur Material: SAS

Learning Target: Reference:

At the end of the module, students will be able to: Go, Josiah (2018) Entrepreneurship:
1. Explain functions of an entrepreneur Starting an Enterprise. Having an
Innovation Mindset.

Productivity Tip: Strive for progress, not perfection. Until you finish this session. Believe in yourself!

A. LESSON PREVIEW/REVIEW

Introduction

Good day! Do you know the different functions of the entrepreneur? I am sure you are very excited to
know about it! Let’s begin now!!

Please read the learning target before you proceed to the succeeding sections of the module. The
learning target is your goal. Remember, you need to achieve the learning target at the end of the lesson.

B. MAIN LESSON

Content and Skill-Building

Topic # 1 Functions of the Entrepreneur

1. Seeking Business Opportunity. An Ex. Water Lilies can be stripped, dried and
entrepreneur perceives business opportunities woven into baskets, bags, shoes and novelty
in the environment items
2. Risk Taking. The entrepreneur takes Ex. Entrepreneurs who are ingenious,
“calculated” risks hardworking and resourceful are able to get an
up-to-date market and business information
3. Producing and Using Capital. The Ex. My savings are not enough to start my
entrepreneur produces and uses capital business; I can either mortgage my car or
accept the loan that my father is offering me
4. Introducing Innovations. The entrepreneur Ex. The entrepreneur introduces new products,
introduces innovations new ways of doing things, he thinks of different
ways by which a product can be: put to new
uses, improved, made bigger, made smaller,
substituted, combined, diversified, given a new
color, given a new shape etc.

5. Organizing the Business. An entrepreneur Ex. I have converted my yard into a work area; I
organizes the business have workers; money is ready; I have talked to

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 GEN 009: Entrepreneurial Mind
Module #3 Student Activity Sheet

suppliers and prospective customers. I am all

set to begin operations.
6. Planning and Decision-Making. The Ex. In the next three years, how many
entrepreneur makes plans and decisions competitors will I have? What possible products
will I be serving my customers? Do I need to
train my employees? Should I lessen the price
of my products?
7. Making Profits. The entrepreneur makes Ex. Wow! I like the money that I make from this
profit business; I also like the sense of
accomplishment it gives me.

Now, let us proceed to the activities that will strengthen your knowledge of the topic.

Check for Understanding

Try to finish the exercise before going through the Answer Key at the last page. This will help in
checking if you have understood the lessons in this module before going to the next module.

Let us practice! Answer each activity to test your understanding of the lesson. I know you can do this!
You may start now.

Exercise 1: Read the quote below. Write your thoughts about this in the space provided.

“Entrepreneurship is neither a science nor an art, it is a practice.” – Peter F. Drucker

It has a knowledge base. Knowledge in entrepreneurship is a means to an end. Indeed, what constitutes
knowledge in practice is largely defined by the ends, that is, by practice.

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Exercise 2: Read each statement carefully. Identify which of these shows an innovative person. Put a check

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 GEN 009: Entrepreneurial Mind
Module #3 Student Activity Sheet

mark on the space provided.

_______1. A person who works 24 hours a day

_______2. A person who loves to read poems, short stories and novels

_______3. A person who uses empty milk cans as flower and plant pots

_______4. A person who buys bottled jams and wraps these in inexpensive sinamay sheets to give
away to friends on Christmas

_______5. A person who thinks the world is horrible, unfair and cruel and goes around thinking of how
to make it a better one.

_______6. A person who has an old, ready-made computer program and then reprograms it (or make
changes to it) for his specific use.

C. LESSON WRAP-UP

Frequently Asked Question

1. If I have money but no particular business in mind, how can I get enough information on the
best business to go into?

The best way of choosing your business venture is to look at your experience and educational
background. A thorough review will provide leads on the business field you should enter - do what you
know best. Even more important, you must like the business field you are going to enter to bring the
enthusiasm and self-confidence you need to make the business go.

Thinking about Learning

Congratulations for finishing this module! Shade the number of the module that you finished.

Did you have challenges learning the concepts in this module? If none, which parts of the module helped you
learn the concepts?
_______________________________________________________________________________________

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 GEN 009: Entrepreneurial Mind
Module #3 Student Activity Sheet

________________________________________________________________________________________

Some question/s I want to ask my teacher about this module is/are:

________________________________________________________________________________________
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 GEN 009: Entrepreneurial Mind
Module #4 Student Activity Sheet

Lesson Title: The Roles of the Entrepreneur Material: SAS

Learning Target: Reference:

At the end of the module, students will be able to: Go, Josiah (2018) Entrepreneurship:
1. Identify the roles of an entrepreneur in nation-building Starting an Enterprise. Having an
Innovation Mindset.

Productivity Tip: Knowing and believing in your own potential can be part of your journey to being successful.
According to John Maxwell: “Successful and unsuccessful people do not vary greatly in their abilities. They
vary in their desires to reach their potential.”

A. LESSON PREVIEW/REVIEW

Introduction

Welcome to GEN 009 Entrepreneurial Mind’s Module #4. Can you name one of the important roles of
the entrepreneur in making the country grow and prosper? Yes, there are six important roles but we are going
to focus only on the first three roles. Let us start!!

Please read the learning target before you proceed to the succeeding sections of the module. The
learning target is your goal. Remember, you need to achieve the learning target at the end of the lesson.

B. MAIN LESSON

Content and Skill-Building

Topic # 1 Roles of the Entrepreneur in Nation-Building

1. Entrepreneurs provide goods They provide food on our tables, clothes on our bodies,
and services. utensils for our kitchen, supplies for our offices, fuels for
our cars and machines, medicines for the sick etc. It is the
entrepreneur that makes these goods not only available but
conveniently available. They are not only providing useful
goods but valuable services too like when your refrigerator
breaks down etc.
2. Entrepreneurs earn profit Most people need or demand goods and services—these
which makes the economy are the consumers or the general public. Other people
grow. supply these goods and services—these are of course, the
entrepreneurs. Together, they make up what is known as
the economy. Demand and Supply are the forces that
make the economy work. When there is a demand for
goods and someone supplies it, money changes hands and
profits are made. The more goods are demanded and

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 GEN 009: Entrepreneurial Mind
Module #4 Student Activity Sheet

supplied, the bigger the profits, and the more the money
that goes around the economy. This is how the economy
prospers and grows. The main person who makes these
activities happen is the entrepreneur.
That is why entrepreneurs were called the backbone of the
economy.
3. Entrepreneurs provide In the process of producing goods and services,
employment and livelihood for entrepreneurs’ employs people. Of course, when he
people in the society. employs workers, he pays them income or salaries. This
income gives workers purchasing or buying power and
enables them to become more active participants in the
economy. The more the entrepreneurs profit, the more they
are able to hire people and to pay them well. And so, the
benefits go around and around in a circle.
4. Entrepreneurs help other Entrepreneurs depend on other entrepreneurs for their raw
entrepreneurs grow too, by materials, parts and supplies. Ex. Aling Lilia a Ready to
helping them produce products Wear (RTW) garment manufacturer buys fabric from
through raw materials. Divisoria Fabritex, a wholesaler; thread from another
wholesaler in Divisoria; buttons and zippers and
accessories from suki in nearby Tutuban; sewing machines
and small sewing tools from a Singer dealer. Around
Christmas time, when Aling Lilia can no longer serve the
big orders for RTW alone, she sub-contracts some of the
sewing operations to her neighbor and kumare, Aling
Juanita, who has her small dress shop. As Aling Lilia
prosper, so do so Divisoria Fabritex and her other
suppliers, and Aling Juanita, her sub-contractor. It is true
that growth, begets growth.
5. Entrepreneurs providing 30 years ago, for example, all the corned beef that we eat
goods so that country will not came from the United States, Brazil, or Argentina. Today,
rely on imported goods there are Purefoods, Swift, Ligo, Argentina corned beef. All
made in the Philippines, most of them better than the
imported brands. Our dollars stay inside our country rather
than are paid to foreign businessmen.
6. Entrepreneurs who set up If you come from the provinces, can you count how many
businesses in small towns and of your kababayan or kababaryo migrated to Manila and
cities help develop these areas other big cities like Cebu, Davao or Baguio? And while
and thus preventing rural you’re counting, can you also include those who left the
people from leaving their Philippines to get contract employment in Hongkong,
homes to migrate to big cities Singapore and Saudi? If there were many entrepreneurs
who set up business establishments in your town and
employed many of your townspeople, wouldn’t some of
these migrants have stayed instead of left?

Now, let us proceed to the activities that will strengthen your knowledge of the topic.

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 GEN 009: Entrepreneurial Mind
Module #4 Student Activity Sheet

Check for Understanding

Try to finish the exercise before going through the Answer Key at the last page. This will help in
checking if you have understood the lessons in this module before going to the next module.

Exercise 1: Read each sentence carefully and identify what role of an entrepreneur is being described.

__________1. The Bellevue Resort in Bohol employs almost one hundred employees. These employees are
locals from different barrios of Bohol. They do not need to go to Manila to look for jobs.

__________2. Costales Farm in Laguna produces Kale, Lettuce, and other vegetables that we usually import
from other neighboring countries.

__________3. Aling Lydia buys a dozen small-sized pigs every week. She will then roast the pigs and sell
them as “lechon de leche.”

__________4. A start up pizza business uses a hand-woven pizza “tampipi” from a livelihood project in
Mahayhay, Laguna.

__________5. With the rise of food delivery services, more people are now establishing home-based food
delivery services.

__________6. If there are appliances that need to be fixed, the whole neighborhood will surely go to “Leave It,
I will Fix It”. A business that repairs appliances.

Exercise 2: Read each statement carefully. Write “True” if you think the statement is correct and “False” if you
think it is incorrect.

__________1. Entrepreneurs are the backbone of the economy.

__________2. Entrepreneurs provide goods and services for the society.

__________3. Entrepreneurs provide employment and livelihood for people in the society.

__________4. Entrepreneurs earn profit which makes the economy grow

.
__________5. Entrepreneurs help other entrepreneurs grow too, by helping them produce products through
raw materials.

__________6. Entrepreneurs depend on other entrepreneurs for their raw materials, parts and supplies.

__________7. Entrepreneurs who set up businesses in small towns and cities help develop these areas and
thus allow rural people from leaving their homes to migrate to big cities.

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 GEN 009: Entrepreneurial Mind
Module #4 Student Activity Sheet

C. LESSON WRAP-UP

Frequently Asked Question

1. How long does it take a new business to establish a good public image?

A good public image takes a long time to establish (and only minutes to lose). There is no set
formula, but a good image depends on:

✔ The service, products, and customer treatment you provide

✔ The market you are in
✔ How you stack up against your competitors
✔ The quality of your public relations and advertising programs
✔ If you are new in the market - and if you do what you say - you may establish an excellent
reputation in 18 to 24 months.

Thinking about Learning

Congratulations for finishing this module! Shade the number of the module that you finished.

Did you have challenges learning the concepts in this module? If none, which parts of the module helped you
learn the concepts?
_______________________________________________________________________________________
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Some question/s I want to ask my teacher about this module is/are:

________________________________________________________________________________________
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 GEN 009: Entrepreneurial Mind
Module #5 Student Activity Sheet

Lesson Title: The Entrepreneur and the Manager Material: SAS

Learning Target: Reference:

At the end of the module, students will be able to: Go, Josiah (2018) Entrepreneurship:
1. Explain what is an entrepreneur and a manager Starting an Enterprise. Having an
Innovation Mindset.

Productivity Tip: Life is not always perfect. There is always a possibility for a problem. The problem is not the
end. But it’s the beginning of a different life.

A. LESSON PREVIEW/REVIEW

Introduction

After reading the Lesson Title, you must be wondering the differences between an entrepreneur and a
manager. So, let us start with our new lessons.

Please read the learning target before you proceed to the succeeding sections of the module. The
learning target is your goal. Remember, you need to achieve the learning target at the end of the lesson.

B. MAIN LESSON

Content and Skill-Building

Topic # 1 Entrepreneur versus Manager

Entrepreneur refers to a person who creates an enterprise, by taking financial risk in order to get profit.
A Manager, on the other hand, is an individual who takes the responsibility of controlling and administering the
organization.

The similarities between an entrepreneur and business managers reveal that they both are decision
makers; both have managing abilities and can project forward. To become successful in either field both, possess
great time management, organization, prioritize, monitor plans, have great communications and listening skills.
This equates to successful entrepreneurs and business managers.

Levels of Management

a. Top Level – senior executives of an organization and are responsible for its overall management.
Referred to as Strategic Managers. E.g., CEO, CFO, COO, GM
b. Middle level – sometimes called Tactical Managers, they are responsible for translating the general
goals and plans developed by strategic managers into more specific activities. E.g., Regional
Managers, Division Managers

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 GEN 009: Entrepreneurial Mind
Module #5 Student Activity Sheet

c. Lower – sometimes called front-line or Operational Managers, they supervise the operations of the
organization. They often have titles such as supervisors. E.g. Branch Managers, Department
Managers, Supervisors

Management skills

a. Technical skills – the ability to perform a specialized task involving a particular method or process.
b. Conceptual skills – the ability to identify and resolve problems for the benefit of the organization and its
members. It is the ability to see the big picture.
c. Interpersonal skills – people skills; the ability to lead, motivate, and communicate effectively with others.

Basis for Comparison Entrepreneur Manager

Meaning A person who creates an Is an individual who takes the
enterprise, by taking financial responsibility of controlling and
risk in order to get profit. administering the organization.
Focus Business start-up Ongoing operations
Primary motivation Achievement Power
Approach to task Informal Formal
Status Owner Employee
Reward Profit Salary
Decision-making Intuitive Calculative
Driving force Creativity & Innovation Preserving status quo
Risk orientation Risk taker Risk averse

Now, let us proceed to the activities that will strengthen your knowledge of the topic.

Check for Understanding

Try to finish the exercise before going through the Answer Key at the last page. This will help in
checking if you have understood the lessons in this module before going to the next module.

Exercise 1: Read each statement carefully. Identify who is being described in each number, a Manager or an
Entrepreneur.

__________1. A person who focuses on the operations of a business.

__________2. This individual is known to be a risk taker.

__________3. This person is motivated by power.

__________4. This person is characterized as being creative and innovative.

__________5. An individual who is formal in doing tasks.

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 GEN 009: Entrepreneurial Mind
Module #5 Student Activity Sheet

__________6. Intuition is commonly used by this person.

__________7. Though located on the higher part of the organizational chart, this individual is still

considered an employee of the company.

__________8. Profit is the best reward for this person.

__________9. The reward for this individual is salary.

__________10. This individual’s approach to the task is informal.

Exercise 2: Read each statement carefully. Identify what management skills are being discussed in each
statement.

__________1. This skill is necessary when leading, motivating, and communicating with others.

__________2. It is the ability to see the big picture.

__________3. This skill is commonly used in performing a specialized task.

__________4. A person’s expertise is an example of this skill.

__________5. This skill is important when identifying and resolving problems for the benefit of the
organization and its members.

Exercise 3: Fill in the blanks.

1. A CEO is an example of a ____________ level manager.

2. A. Regional Manager is an example of a _____________ level manager.

3. Supervisors or Department managers are considered as _____________ level managers.

C. LESSON WRAP-UP

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Summary

The main difference between Entrepreneur and Manager is their roles in the organization. An
entrepreneur is the owner of the company whereas a Manager is the employee of the company. Entrepreneur
is a risk-taker; they take financial risk for their enterprise. The entrepreneur has a vision and focuses on
achievements and profit.

Thinking about Learning

Congratulations for finishing this module! Shade the number of the module that you finished.

Did you have challenges learning the concepts in this module? If none, which parts of the module helped you
learn the concepts?
_______________________________________________________________________________________
________________________________________________________________________________________

Some question/s I want to ask my teacher about this module is/are:

________________________________________________________________________________________
________________________________________________________________________________________

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 GEN 009: Entrepreneurial Mind
Module #6 Student Activity Sheet

Lesson Title: Types of Business Enterprises Material: SAS

Learning Target: Reference:

At the end of the module, students will be able to: Go, Josiah (2018) Entrepreneurship:
1. Identify the different types of business enterprises Starting an Enterprise. Having an
Innovation Mindset.

Productivity Tip: Every morning you have two choices: Continue to sleep with your dreams or wake up and
chase them.

A. LESSON PREVIEW/REVIEW

Introduction

After learning who the Entrepreneurs and the Managers are, we will now classify what type of business
enterprise that you can start with. Let us now start with Module #6

Please read the learning target before you proceed to the succeeding sections of the module. The
learning target is your goal. Remember, you need to achieve the learning target at the end of the lesson.

B. MAIN LESSON

Content and Skill-Building

Topic # 1 The Philippine Enterprises

In the 2003 census on business establishments conducted by the Philippine Statistics Authority (PSA),
there were about 810,362 enterprises operating in the country…This was 0.11% more than the 809,460 recorded
in 2002. Micro and Small enterprises accounted for 99.27% of the total enterprises, which were about 804,413.
There were about 2,922 medium enterprises and 3,027 large scale enterprises.

YEAR MICRO SMALL MEDIUM LARGE TOTAL

2003 743,628 60,785 2,922 3,027 810,362
2002 743,426 60,566 2,874 2,594 809,460
2001 743,949 61,759 2,923 2,958 811,589
2000 747,740 67,166 3,070 2,984 820,960
Source: Philippine Statistics Authority

The figures are staggering considering that for [2001 – 2003], the numbers remained almost the same
for the micro and small enterprises.

This could mean that some of the micro enterprises in the previous years could have graduated or have
gone bankrupt and closed down, although as can be noticed, there is a slight increase in the total number of

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 GEN 009: Entrepreneurial Mind
Module #6 Student Activity Sheet

micro enterprises in 2003 from 2002, which totals to 202. This is true to all enterprise categories from micro to
large.

Reflecting on this, we can see that there are only a few entrants in the micro enterprise level assuming
that there are not so many who have closed shop. If this is so, there is opportunity here, which the micro
enterprises can seize. The environment seems to be offering a conducive condition for entrepreneurs since the
government has included this provision in the Small and Medium Enterprises (SMEs) development program.
This includes enabling mechanisms to support Micro, Small, and Medium Enterprises (MSMEs).

PSA also shows the ability of micro enterprises to create jobs “…the micro enterprise sector generated
2,152,105 jobs which accounted for 37.69% of total jobs generated. This is the micro entrepreneurs’ power.
Imagine if more people go into entrepreneurship, the unemployment rate will greatly decrease and the products
will have more value added because of the competition. Productivity and purchasing power as well will increase.”
(Diaz and Fajardo, pp. 14-15)

By Asset Size
Micro Up to P3M
Small P3M – P15M
Medium P15M – P 100M
Large Above P100M

By Employment
Micro 1 – 9 employees
Small 10 – 99 employees
Medium 100 – 199 employees
Large 200 – above employees
(Hizon et al, p. 14)

Topic #2 Forms of Business Ownership

⮚ Sole Proprietorship – this refers to a business legally owned by one person.

⮚ Partnership – a simple form of business entered into and invested in by two or more persons who
contribute money, property, time and labor or skill to operate a business, and divide profits among
themselves.

⮚ Corporation – this refers to a legal entity created by or composed of at least five and not more than 15
persons, identified as the incorporators. This is the most sophisticated form of business.

Now, let us proceed to the activities that will strengthen your knowledge of the topic.

Check for Understanding

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 GEN 009: Entrepreneurial Mind
Module #6 Student Activity Sheet

Try to finish the exercise before going through the Answer Key at the last page. This will help in
checking if you have understood the lessons in this module before going to the next module.

Exercise 1: Read each statement carefully and identify what form of business ownership is being described

__________1. This type of business enterprise is composed of 200 employees and above.

__________2. This is the smallest business enterprise based on capitalization.

__________3. It is a legal entity which is composed of at least five and not more than 15 persons,
identified as incorporators.

__________4. An enterprise which is composed of 100-199 employees.

__________5. This type of business would need an asset of P 3 million to P 15 million.

__________6. It is a simple form of business entered into and invested in by two or more persons who
contribute money, property, time and labor or skill to operate a business.

__________7. This enterprise usually employs 10-99 employees.

__________8. A minimum of P 15 million is required in this type of business enterprise.

__________9. A business legally owned by one person.

__________10. The capitalization of this business enterprise is P 100 million and above.

Exercise 2: Read the short case below and answer the two questions that follow:

After graduation, Trina was given P 100,000.00 by her father as a gift. Since it is very hard to look
for a job during the pandemic, she thought of putting up her own business.

If you will receive the same amount as Trina received as a gift, (1) What (possible) type of
business you can establish? How will your business be classified in terms of capitalization (2) How will
your business be classified in terms of form of ownership?

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

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 GEN 009: Entrepreneurial Mind
Module #6 Student Activity Sheet

C. LESSON WRAP-UP

Frequently Asked Questions

1. What is “Negosyo Center”?

Negosyo Center is a pivotal first step in doing business. Whether you are starting or would want
to improve your business or enterprise, there are Business Counsellors available in the Negosyo
Centers to assist you. Negosyo Centers conduct and link Micro, Small, and Medium Enterprises
(MSMEs) to seminars, training, and programs related to setting-up a business, marketing, financial
literacy and more. Furthermore, MSMEs may avail advisory services tailored according to their business needs
and assistance in the processing and documentation of necessary paper requirements among others.

2. Who may avail the services of Negosyo Center?

MSMEs as defined in Section 3 of RA No. 9501 may avail of the services of the Negosyo
Center. In particular, “any business activity or enterprise engaged in industry, agribusiness and/or
services, whether single proprietorship, cooperative, partnership or corporation whose total assets,
inclusive of those arising from loans but exclusive of the land on which the particular business entity’s
office, plant and equipment are situated, must have value falling under the following categories:

A. Micro – not more than P 3,000,000.00

B. Small – P 3,000,001 – P 15,000,000
C. Medium – P 15,000,001 – P 100,000,000

Thinking about Learning

Congratulations for finishing this module! Shade the number of the module that you finished.

Did you have challenges learning the concepts in this module? If none, which parts of the module helped you
learn the concepts?
_______________________________________________________________________________________
________________________________________________________________________________________

Some question/s I want to ask my teacher about this module is/are:

________________________________________________________________________________________
________________________________________________________________________________________

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 GEN 009: Entrepreneurial Mind
Module #7 Student Activity Sheet

Lesson Title: Types of Entrepreneurs Material: SAS

Learning Target: Reference:

At the end of the module, students will be able to: Go, Josiah (2018) Entrepreneurship:
1. Classify different types of entrepreneurs Starting an Enterprise. Having an
Innovation Mindset.

Productivity Tip: Life is short. Live it. Fear is natural. Face it. Memory is powerful. Use it.

A. LESSON PREVIEW/REVIEW

Introduction

Now we are going to study the different types of Entrepreneurs …

Please read the learning target before you proceed to the succeeding sections of the module. The
learning target is your goal. Remember, you need to achieve the learning target at the end of the lesson.

B. MAIN LESSON

Content and Skill-Building

Topic # 1 Types of Entrepreneurs

Manufacturer This type of entrepreneur is someone who produces useful

goods. More likely than not, the manufacturer has intimate
knowledge of the product, how it is produced and its purpose or
use. Ex. Handicraft Producer
Trader This refers to the person who transfers goods from the
manufacturer who produces the goods to the consumer who
buys the goods. Ex. Wholesaler, Retailer, Vending Machine
Solo Entrepreneur This is the entrepreneur who is independent or acting solo. Ex.
event organizers, show hosts, clown, magician, fireworks
specialist, writer of specialized reports, online consultant, online
teacher, online book publisher, house painter, plumber,
electrician
Specialty Service Entrepreneur These provide special services to customers. Ex. beauty
salons, barbershops, sauna and massage parlors, wellness and
fitness centers, and funeral parlors.
Street Entrepreneur These refers to micro entrepreneurs selling various home
articles and food items to motorists stuck in traffic or bus riders
at terminals and stations. Ex. street sellers, sidewalk vendors,
and hawkers.

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 GEN 009: Entrepreneurial Mind
Module #7 Student Activity Sheet

Franchise This is a form of business organization in which an established

firm (franchisor) with an established product or service and
proven business model, allows another business (franchisee) to
offer to the market the franchisor’s product or service for a fee.
Serial Entrepreneur This type of entrepreneur starts different businesses especially
once the previous ones he started has taken root. He feels the
urge to keep finding new products or services to offer to new or
untapped markets.
Social Entrepreneur These are entrepreneurs who provide products and services
with the overall desire of creating social good, operating from
the perspective of benefitting the people and the planet while
earning profit. This is usually undertaken by non-government
and civic organizations.
Intrapreneur These are a manager or a salaried employee who finds a way of
making innovations in the company where he or she works.
They lead in what is called process improvement.

Entrepreneurial Challenges

• Most businesses remain small in scale and are motivated by necessity.

• Only 1% of the country’s whole population is classified as non-owner investors.
• There is a lack of entrepreneurial education and training.
• There is a lack of support from concerned government agencies.
• There is a lack of access to financing.

Barriers to entrepreneurship development

• Difficulty in finding information on local regulations, taxation, and environmental laws.

• Inadequate infrastructure facilities.
• Lack of support from local and national governments.
• Issues of graft and corruption.
• Resistance to technological advancement.
• Inadequate digital connections and internet facilities.

Now, let us proceed to the activities that will strengthen your knowledge of the topic.

This document is the property of PHINMA EDUCATION

 GEN 009: Entrepreneurial Mind
Module #7 Student Activity Sheet

Check for Understanding

Try to finish the exercise before going through the Answer Key at the last page. This will help in
checking if you have understood the lessons in this module before going to the next module.

Exercise 1: Read each statement carefully and identify what type of entrepreneur is being described.

__________1. These are a manager or a salaried employee who finds a way of making innovations in
the company where he or she works.

__________2. These are entrepreneurs who provide products and services with the overall desire of
creating social good, operating from the perspective of benefitting the people and the
planet while earning profit.

__________3. This type of entrepreneur starts different businesses especially once the previous ones
he started are already stable.

__________4. These refers to micro entrepreneurs selling various home articles and food items to
motorists stuck in traffic or bus riders at terminals and stations.

__________5. These provide special services to customers

__________6. This is the entrepreneur who is independent or acting solo.

__________7. This refers to the person who transfers goods from the manufacturer who produces the
goods to the consumer who buys the goods.

__________8. This type of entrepreneur is someone who produces useful goods.

__________9. They lead in what is called process improvement.

__________10. This is usually undertaken by non-government and civic organizations.

C. LESSON WRAP-UP

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 GEN 009: Entrepreneurial Mind
Module #7 Student Activity Sheet

Frequently Asked Question

1. What is Social Entrepreneurship?

Social Entrepreneurship is all about recognizing the social problems and achieving a social
change by employing entrepreneurial principles, processes and operations. It is all about making a
research to completely define a particular social problem and then organizing, creating and managing a
social venture to attain the desired change. The change may or may not include a thorough elimination
of a social problem. It may be a lifetime process focusing on the improvement of the existing
circumstances.

While a general and common business entrepreneurship means taking a lead to open up a new
business or diversifying the existing business, social entrepreneurship mainly focuses on creating
social capital without measuring the performance in profit or return in monetary terms. The entrepreneurs in
this field are associated with non-profit sectors and organizations. But this does not eliminate the need of
making profit. After all entrepreneurs need capital to carry on with the process and bring a positive change in
the society.

Thinking about Learning

Congratulations for finishing this module! Shade the number of the module that you finished.

Did you have challenges learning the concepts in this module? If none, which parts of the module helped you
learn the concepts?
_______________________________________________________________________________________
________________________________________________________________________________________

Some question/s I want to ask my teacher about this module is/are:

________________________________________________________________________________________
________________________________________________________________________________________

This document is the property of PHINMA EDUCATION