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Applied
Entrepreneurship
Quarter I - Module 1
Introduction to
Entrepreneurship

NAME : TRACY TULALI

BLOCK : HUMSS 12 BLOCK 10
 CONTEXTUALIZED LEARNING-INSTRUCTION KIT

SCHOOLS DIVISION OF PUERTO PRINCESA CITY

Entrepreneurship – Grade 11/12 Contextualized Learning-Instruction Kit
(CLIK) Quarter I - Module 1: Understanding Entrepreneurship First Edition,
2020

Republic Act 8293, Section 176 states that: No copyright shall subsist in any work
of the Government of the Philippines. However, prior approval of the government
agency or office wherein the work is created shall be necessary for the exploitation
of such work for a profit. Such agency or office may, among other things, impose as
a condition the payment of royalties.

Borrowed materials (i.e., songs, stories, poems, pictures, photos, brand names,
trademarks, etc.) included in this book are owned by their respective copyright
holders. Every effort has been exerted to locate and seek permission to use these
materials from their respective copyright owners. The publisher and authors do not
represent nor claim ownership over them.

Published by the Schools Division of Puerto Princesa City

 Development Team of the Module

Writer: Rizza Joy S. Segay (Palawan National School)

Content Editor: Marie Vic C. Velasco, PhD, EPS- Mathematics

Language Editor: Imelda O. Legaspi , Assistant Principal II

(Langogan National High School)

Reviewer: Marie Vic C. Velasco, PhD, EPS- Mathematics

Illustrator: Rizza Joy S. Segay (Palawan National School)

Layout Artist: Joseph Aurello (Palawan National School)

Management Team:
Servillano A. Arzaga, CESO V, SDS
Mabel F. Musa, PhD, OIC-ASDS
Cyril C. Serador, PhD, CID Chief
Ronald S. Brillantes, EPS-LRMS Manager
Mari Vic C. Velasco, PhD, EPS - Mathematics
Eva Joyce C. Presto, PDO II
Rhea Ann A. Navilla, Librarian II

Division of Puerto Princesa City-Learning Resource Management Section (LRMS)

Sta. Monica Heights, Bgy. Sta. Monica, Puerto Princesa City
Tel. Phone no.(048) 434 9438
Email Address: puertoprincesa@deped.gov.ph

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Applied
Entrepreneurship
 Quarter I - Module 1
Introduction
To Entrepreneurship

This module was collaboratively developed and reviewed by educators and program
supervisors from public schools of the Division of
Puerto Princesa City. We encourage teachers and other education stakeholders to email
their feedback, comments, and recommendations
to the Department of Education, Division of Puerto Princesa City at
puertoprincesa@deped.gov.ph .

We value your feedback and recommendations.

Introductory Message
For the Teachers:

This learning material is designed to help learners enrich their learning

experiences by answering activities that are meaningful to their lives which can be
done by themselves. A variety of enjoyable tasks are presented.

Activities are provided as formative assessment to check from time to time the
learner’s understanding of the lesson. Given the range of learning activities in this
package, teachers are encouraged to freely adapt them to suit their school contexts
and learners’ needs, interests and abilities.

For the Learners:

This Learning Resource Introduction to Entrepreneurship was developed for

you to enjoy while learning. There are various activities and check-up tests you need
to take.
 Take note of the instructions as you journey through this module to have a solid
understanding of what you are expected to accomplish. Carefully read and follow the
instructions to hit what you are expected to do.

Answer keys are provided which you can refer to when checking your answers.
Record your score at the Learner’s Progress Chart and inform your teacher on your
development.
Feel free to use this material and if progress is not evident, you can make use of it
again until such that the desired passing mark is achieved.

As you read through this module, you will notice the following icons. They will
help you find your way around the module more quickly.

What I Need This will give you an idea of the skills or

competencies you are expected to learn in the
to Know module.

What I Know
This part includes an activity that aims to check
what you already know about the lesson to
take.

What’s In
This is a brief drill or review to help you link the
current lesson with the previous one.

In this portion, the new lesson will be

What’s New introduced to you in various ways such as a
story, a song, a poem, a 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.
 What’s More
This comprises activities for independent
practice to solidify your understanding and
skills of the topic.

What I Have
This includes questions or blank
Learned sentences/paragraphs to be filled in to process what you learned
from the lesson.

What I Can Do
This section provides an activity that will help
you transfer your new knowledge or skill in
real-life situations or concerns.

Additional
In this portion, another activity will be given to
Activities you to enrich your knowledge or skill of the
lesson learned.

Assessment
This is a task which aims to evaluate your level
of mastery in achieving the learning
competency.

Answer Key This contains answers to all activities in the

module.

References
This is a list of all sources used in developing
this module.

Just remember, this module is not intended to replace textbooks and other existing
learning resources but rather to provide an additional alternative that is
contextualized and resilient to education systems that address the challenges of the
current pandemic.
-The Development Team
 This module is packed with notes and essential information covering everything you
need to know about Entrepreneurship and its key concepts.
.
There are warm-up and exam-style practice questions for every part to give you an
idea of how well you have already grasped the lesson. This also contains topicbased
questions for focused skills to test your understanding of the concepts of the lessons
under the Most Essential Learning Competencies.
Content Standard

The learners demonstrate understanding of key concepts, underlying

principles, and core competencies in Entrepreneurship.

Performance Standard

The learners independently create/provide a quality and marketable product

and/or service in Entrepreneurship as prescribed in the TESDA Training
Regulation.

Most Essential Learning Competency

➢ Discuss the relevance of the course

By the end of this module, you should be able to cover the following lessons:

Lesson 1 – Understanding Entrepreneurship

Learning Objectives:

▪ Define Entrepreneurship;
▪ Enumerate the key concept of common competencies in
Entrepreneurship; and
▪ Explain the core competencies in Entrepreneurship.

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Directions: Read carefully each question. Circle the letter of your answer.

1. What is the process of inventing, innovating and creating new ideas and
turning them into action with a purpose of satisfying the needs and wants
of the consumers?
A. Entrepreneurship B. Entrepreneur C. Enterpriser D.
Enterprise

2. What do you call a person who creates the idea and make an enterprise?
A. Owner C. Entrepreneur
B. Innovator D.Business Man

3. What is the core competency of entrepreneurship which involves a continuous

searching and creating new ideas to offer in the market?
A. Surplus B. Risk bearing C. Profit Potential D. Innovation

4. What core competency of entrepreneur creates wealth and value by ensuring

the best usage of scarce resources?
A. Profit Potential C. Human Resource
B. Nature D. Economic Activity

5. What serves as a motivation to an entrepreneur in times of disappointments?

A. Job opportunity B. Profit potential C. Risk bearing D. Time

6. What do you call an entrepreneur living with uncertainty?

A. Failures B. Fluctuation C. Risk Bearing D. Threats

7. What is the term used to address a business?

A. Entrepreneur B. Enterprise C. Company D.
Building

8. What do you call the process of giving and receiving of product and services
used in the early century?
A. Replacing B. Giving C. Exchanging D. Bartering

9. What is the most common medium used in exchange of products and

services? A. Services B. Promissory Note C. Product
D. Money

10. Which of the following is the BEST example of an entrepreneur?

A. Rebecca’s Catering
B. Rebecca Segovia
C. Rebecca learns how to bake

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 D. Rebecca applied for a loan

11. Which of the following is NOT a key concept of Entrepreneurship?

A. Entrepreneurship B. Entrepreneur C. Enterpriser D. Enterprise

12. What is the BEST example of an enterprise?

A. Khenz went to the market.
B. Khenz Ray
C. Khenz Enterprise.
D. Khenz can install computer applications.

13. Which of the following BEST describe “Innovation”?

A. Innovation is the compensation to the entrepreneur after taking series of
risks.
B. Innovation is like living with uncertain
C. Innovation is an economic activity because it provides job opportunity to
other people
D. Innovation is a continuous searching and creating new ideas to offer in
the market

14. What is the difference between the Enterprise and the Entrepreneur?
A. Enterprise is the product and the entrepreneur is the services
B. Enterprise is the product and the entrepreneur is the person
C. Enterprise is the process and the entrepreneur is the product.
D. Enterprise is the practice and the entrepreneur is the person

15. What is the importance of Entrepreneurship in an economic activity?

A. Entrepreneurship turns an idea into an actual enterprise
B. Entrepreneurship serve the customers in most effective and efficient way
C. Entrepreneurship provides job opportunity to other people by creating
new product
D. Entrepreneurship improves the old goods to satisfy the needs of the
customer

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 Lesson
Understanding
1 Entrepreneurship

To understand more about how some people come up with different ideas and
how they put-up their own businesses, please have a sit and let us start
understanding Entrepreneurship.

Activity: Made Better

Directions: Look around and look for things that help you in your daily life. List them
down and explain how they helps you.

Goods/services How did it help you?

I used it to cook rice faster and it doesn’t need a lot of
Rice cooker
attention.
1. Aircon I used it to cool my room and its faster to make the
room cold

2. Gas stove I used it to cook food it doesn’t need a lot of effort

3. Internet I used it to search for meaning and communicate with

my friends and its easily for me to search for a meaning

4. car I used it for transportation and it doesn’t need a lot of

time to wait for another tricycle or multicab
5. computer I used it to encode my module and it doesn’t need a lot
of effort to write my answer

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Activity: Cotton Clouds
Directions: In the figure below write down your idea about Entrepreneurship.
Choose your answer in the chart and write it in the cotton clouds shown in

ENTREPRENEURSHIP

Inventing Creating
Innovating Consumer
Replicate New ideas
Customer Wealth
Opportunity Person

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Entrepreneurship is the:
• Process of inventing, innovating, and creating new ideas and turning them
into action with a purpose of making wealth, give opportunities and satisfy
the needs and wants of the consumers.
• Process of giving and receiving goods and services in exchange of money
or other valuable things. In early century Entrepreneurship was used by
the people in order to survive.
For example, a fisherman exchanges his fish to a farmer’s
vegetables. (“Bartering”).
o Today, we use money in exchange of a product or services that is
available for sale.
Concept of Entrepreneuship
There are three key Concepts of Entrepreneurship.

1. Entrepreneurship - process of inventing, innovating, and creating new ideas

and turning them into action with a purpose of making wealth, give
opportunities and satisfy the needs and wants of the consumers.

2. Enterprise
There are two meanings of the word “Enterprise”
a. Enterprise is another term used to address a business. It is the
product (goods or services) one is offering for sale.
Example: Rebecca Paxton’s Enterprise
Lara set up her own enterprise after leaving her job.
b. It is also used to describe the act of someone who takes the initiative
by taking risks by putting-up new product, investments and running a
business

3. Entrepreneur – the person who does the initiative and risks. Entrepreneur is
someone who create the idea and make an enterprise.

To make it easy to remember see the Figure below.

Entrepreneurship Enterprise Entrepreneur

Process/Practice Product Person

Concept of Entrepreneurship

(Source: “Chapter 1 – Introduction to Entrepreneurship,” University of Saskatchewan,

accessed July 31, 2020 at https://openpress.usask.ca/entrepreneurship
andinnovationtoolkit/chapter/chapter-1-introduction-to-entrepreneurship/.)

Core Competencies in Entrepreneurship

1. Risk Bearing
• Being an entrepreneur is like living with uncertainty.

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 • The Entrepreneurs ideas may not always be the interest of the
customer.
• The result of the entrepreneurs’ efforts may not always be what they
have imagine.
• Some ideas arise before they are noticed by customers. Series of
failure and disappointments may be the stepping stone of an
entrepreneur. That is why, patience, courage and determination are
very important in order to become a successful entrepreneur.

2. Communication
• Entrepreneurship involves communication wherein the entrepreneur
can listen, ask question, and convey thoughts.
• Communication helps the entrepreneur to assess the needs of the
consumer.

3. Economic Activity
• Entrepreneurship is an economic activity because it provides job
opportunity to other people by creating new product and services and
by putting up a new enterprise.
• It creates wealth and value by ensuring the best usage of scarce
resources. It always makes goods and services available.

4. Leadership
• An entrepreneur should be able to direct and give instruction to his
subordinates.
• In entrepreneurship, the entrepreneur should pursue his subordinates
to perform its duty with commitment.
• An entrepreneur must motivate his subordinates to perform their best to
achieve the company’s goals and objectives.

5. Profit
• How much is the compensation of an entrepreneur in return after the
series of risks encountered.
o Turning an idea into an actual enterprise an entrepreneur needs a
lot of courage and strength to surplus the challenges of
disappointments.
• They are mostly motivated on what could be the possible return of profit
to them. Without this profit potential, all of the entrepreneurs’ efforts and
time will remain as an idea.

6. Innovation
• Entrepreneurship involves a continuous searching and creating new
ideas to offer in the market.
• It requires individual to continuously search, evaluate, test and re-do
their existing product and services. Through this entrepreneur can
serve the customers in most effective and efficient way.

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 • Innovation is simply, improving the old goods and services to satisfy the
needs of the customer.

o Example: Before, people use horses and their bare foot in

travelling. It used to spend them a lot of time to reach there destination, today the
invention of bus, motorcycle and other transportation vehicle gives the people
comfort and faster way of travelling.
(Souce: “Key Competencies for Entrepreneurship,” Lorena Robles and
Marta Zárraga-Rodríguez, accessed October 2, 2020 at
df/82046294.pdf .)

Entrepreneurship helps not only the life of the entrepreneur who takes the risks of
turning his/her idea into action but also the consumer and its community. There are
lots of Entrepreneurs who choose to stablish there business here in Puerto Princesa
City. Let us now try to answer the following activity.

Activity 1: Rain Drops

Directions: Below is a cloud full of idea about Entrepreneurship. The cloud is ready
to drop learnings. Identify three words that can describe entrepreneurship in the box
and write your answer in the droplets of the clouds.

Entrepreneurship
Inventing

Immitating

C reating new ideas

Innovating

Customer

Inventing innovating creating new ideas

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Activity 2: The Secret of Russia
Directions: Read and understand the paragraph below. Identify the entrepreneur, the
enterprise, and the entrepreneurship. Be guided with the high lightened word and
write your answers in the chart below.

People in Barangay Alfonzo XIII is obsessed with the cake of

the Melting Cake Shop. The cake melts in your mouth when
you eat it. Russia ‘da Great is the owner and the brain behind
this amazing cake. The process of baking the cake is just put
a liquid flavor at the center of the cake.
Entrepreneurship Enterprise Entrepreneur
Process of baking cake Melting cake shop Russia ‘da great

Activity 3: Match me

Directions: Below are the Core Competencies of Entrepreneurship. Match the

competency in Column A to its definition in Column B and connect them by drawing
a match.

Column A Column B
A. Entrepreneurs ideas may not
always be what the customer are
1.Economic Activity willing to avail.

2. Innovation
B. It is the compensation or the
return to an entrepreneur after
3. Profit Potential taking series of risks.
C. It involves a continuous
searching and creating new ideas
4. Risk Bearing to offer in the market
D. It provides job opportunity to
other people by creating new
product

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Activity: Fill Me
Directions: Given the word in the disk of the flower. Choose from the chart which of
the following word best describe the word in the disk.

a.

Inventing Wealth

New ideas Retailer

Customer Opportunity

Creating Innovating

Business Product

Entrepreneurship Process

Enterprise Entrepreneur

Economic activity Opportunity

Committed Innovation

Profit Risk bearing

 Inventing
 Innovating
 Creating
 New ideas
 Wealth
 Opportunity

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 Entrepreneurship

 Enterprise
 Entrepreneur
 Entrepreneurship

b.

Key Concept of
Entrepreneurship
 Profit
 Risk bearing
 Economic activity
 innovation

c.

Core
Competensies
in
Entrepreneurship

Activity: Unboxing Ideas

Directions: This time of pandemic, salons are closing because of lack of customers.
Read the Pandemic story of Aj below and help him by creating an entrepreneurial
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activity and explain why you think your product (goods or services) idea will help Aj
during this pandemic. The box in the left side is the identified problem of Aj. Write
your product (goods or services) idea in the right side of the box.

Aj is a skilled all-around salon staff of Marikit Salon. During the

pandemic, Marikit salon follows the protocol of only 50% of the room
capacity is allowed inside the salon. Because of this the management makes a
schedule that allowed 50% of manpower every day. Aj is a daily wager employee
and will only be working in the salon every Monday, Wednesday and Friday.

Problem
Identifeid
Product/Services idea

Online selling of phone

Vacant Working Days

I choose this product/services because (reason)

Because now that there is pandemic people would choose to stay home for their
safety, and phone is very important especially for student who have online class.
Your online product could easily saw of many people.
I will help (Aj & other possible customer of Aj)
So he can earn more money and he can use his vacant days to deliver his product

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Activity: Think like an Entrepreneur
Directions: Ask someone in your house the problem they’ve encountered during the
General Community Quarantine and suggest new ideas to make their GCQ
experience more comfortable for them.

Example:

Problem: Have a hard time buying foods

Solution: Create a page where sellers and buyers can interact

with each other

Problem: can’t go outside to buy new phone because of age limit

Solution: create a page where all items are phone that are sale

Directions: Read carefully each question. Circle the letter of your answer.

1. What is the process of inventing, innovating and creating new ideas and
turning them into action with a purpose of satisfying the needs and wants
of the consumers?
A. Entrepreneur B. Entrepreneurship C. Enterprise
D.Enterpriser
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2. What do you call a person who create the idea and make an enterprise? A.
Business Man B. Entrepreneur C. Innovator D. Owner

3. What is the core competency of entrepreneurship which involves a continuous

searching and creating new ideas to offer in the market?
A. Innovation B. Profit Potential C. Risk bearing D. Surplus

4. What core competency of entrepreneur creates wealth and value by ensuring

the best usage of scarce resources?
A. Economic Activity C. Nature
B. Human Resource D. Profit
Potential

5. What serves as a motivation to an entrepreneur in times of disappointments?

A. Job opportunity B. Risk bearing C. Profit potential D. Time

6. What do you call an entrepreneur living with uncertain?

A. Threats B. Risk Bearing C. Fluctuation D.
Failures

7. What is the other term used to address a business?

A. Building C. Enterprise
B. Company D. Entrepreneur

8. What do you call to the process of giving and receiving of product and
services used in the early century?
A. Bartering B. Giving C. Exchanging D. Replacing

9. What is the most common medium used for the exchange of product and
services?
A. Money C. Promissory Note
B. Product D. Services

10. Which of the following is the BEST example of an entrepreneur?

A. Rebecca Segovia
B. Rebecca’s Catering
C. Rebecca learns how to bake
D. Rebecca applied for a loan

11. Which of the following is NOT a key concept of Entrepreneurship?

A. Entrepreneur B. Entrepreneurship C. Enterprise D. Enterpriser

12. What is the BEST example of an enterprise?

A. Khenz Enterprise.
B. Khenz went to the market.
C. Khenz can install computer applications.
D. Khenz Ray

13. Which of the following BEST describes “Innovation”?

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 A. Innovation is a continuous searching and creating new ideas to offer in the
market
B. Innovation is an economic activity because it provides job opportunity to
other people
C. Innovation is the compensation to the entrepreneur after taking series of
risks.
D. Innovation is like living with uncertain

14. What is the difference between the Enterprise and the Entrepreneur? A.
Enterprise is the process and the entrepreneur is the product.
B. Enterprise is the product and the entrepreneur is the services
C. Enterprise is the product and the entrepreneur is the person
D. Enterprise is the practice and the entrepreneur is the person

15. What do you think is the importance of Entrepreneurship is an economic

activity?
A. Entrepreneurship improves the old goods to satisfy the needs of the
customer
B. Entrepreneurship serve the customers in most effective and efficient way
C. Entrepreneurship provides job opportunity to other people by creating new
product
D. Entrepreneurship turns an idea into an actual enterprise

Lesson 1:

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16
 References

Website

“Chapter 1 – Introduction to Entrepreneurship,” University of Saskatchewan.

Accessed July 31, 2020. https://openpress.usask.ca/entrepreneurship
andinnovationtoolkit/chapter/chapter-1-introduction-to-entrepreneurship/.

Lorena Roblesa and Marta Zárraga-Rodrígueza. “Key Competencies for

Entrepreneurship.” Accessed October 2, 2020. https://core.ac.uk/download/
pdf/82046294.pdf.

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 Teacher’s Signature:

For inquiries or feedback, please write or call:

Division of Puerto Princesa City

Sta. Monica Heights, Bgy. Sta. Monica, Puerto Princesa City
(02) 634-1054 o 634-1072
puertoprincesa@deped.gov.ph

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