QUEZON NATIONAL HIGH SCHOOL

Senior High School

Iyam, Lucena City

ENTREPRENEURSHIP
Quarter 3 - Week 2

As you go further, let us try to recall about the concept of Entrepreneurship. Entrepreneurship
is a catchword in this era of globalized economy. It is a foundation and catalyst for economic growth and
innovation across nations (Edralin, D. M., 2016).

Common Elements of Entrepreneurship (Edralin, D. M., 2016):

• Innovation
• Opportunity seeking and exploitation
• Resource mobilizing
• Encountering risks and uncertainties
• Economic and personal rewards

Roles of Entrepreneurship and Entrepreneurs in Economic Development and Society (Edralin, D.

M., 2016):
• Creates employment
• Develops new markets
• Introduces innovation
• Generates new sources of materials
• Stimulates investment interest in the new business ventures being created
• Improves the quality of life
• Serves as role models
• Brings social benefits to the people
• Utilizes and mobilizes indigenous resources
• Provides more alternatives for consumers

Entrepreneurs are found everywhere around the globe and they are a distinct group of
business people who contribute to the development of the society. They are the founder and
creator of the enterprise who make use of the opportunities that abound to start or grow
business, knowing that there are risks involved in such undertaking (Edralin, D. M., 2016).

Are entrepreneurs born or made?

This question has long been debated with little agreement. However,
as cited by Longenecker, J.G., et.al. (2016), Stephen Spinelli and
Robert Adams described entrepreneurs as having and
exhibiting “desirable and acquirable attitudes and behaviors” such as commitment and
 determination, leadership, opportunity obsession, risk-takers, motivation to excel, creativity, self-
reliance, and adaptability. According to (www.ideasforleaders.com), competencies such as risk
seeking, assertiveness and vision are considered typical of a successful entrepreneur. But these
are innate predispositions or aspects of temperament; by using them as yardstick, it is wrongly
concluded that only certain types of people make good entrepreneurs or are capable of
worthwhile innovations.
Is there such a thing as a ‘natural-born entrepreneur’?

Accordingly there is not. Specific techniques and habits must be practiced and
developed by all would-be entrepreneurs. Aside from business competencies, entrepreneurs
need interpersonal and self-leadership skills too; however, these are often overlooked.
Entrepreneurial behavior‟ can be learned and developed (www.ideasforleaders.com).

The question is not who entrepreneurs are, but what they do, and more important than
business skills can be other competencies that provide a foundation for those business skills
(www.ideasforleaders.com).

Furthermore, 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 (www.free-
management-ebooks.com).
Ex. creativity, determination, integrity, self-criticism.
2. Interpersonal competencies – These are your ability to lead, influence,
communicate, supervise, negotiate, and control people at all levels. It is the ability to
get along with people and motivate people to perform jobs. Entrepreneurs must
effectively manage people (baseread.com).
Ex. communication, engagement, delegation
3. Business competencies – These are set of particular abilities and knowledge that
sets a company apart from its competitors (yourbusiness.azcentral.com). It also refers to
the key characteristics that successful entrepreneurs should have in order to be
successful (www.mustangbols.com).
Ex. business vision, financial management, networking

Core vs. Common Competencies in Entrepreneurship

Competencies in entrepreneurship play a leading role in making entrepreneurs

successful (baseread.com).

Entrepreneurial competencies facilitate opportunity recognition, help adapt rapidly to

changes, enhances business performance, strengthen the firm‟s competitive position and stir the
achievement of organizational success. It is the sum total of the personality, skills and
knowledge that the entrepreneur possesses, which are necessary to effectively perform their
functions and responsibilities (Edralin, D. M., 2016).
Competence is an underlying personal characteristic which leads to superior
performance. It is a combination of knowledge, skills, attitudes, and motives (baseread.com).

Core competence is the foundation for sharpening a company's competitive edge

and it guides brand reputation, business growth, and marketing strategy
(www.thebalancesmb.com).

Common competence is one that describes the knowledge, skills and abilities found in
most or all position (www.ifpm.nifc.gov).

Examples of Core and Common Competencies in Entrepreneurship

Core Competencies Common Competencies

1. Organizing and Planning 1. Analytical and critical thinking
2. Cash flow management 2. Decision making
3. Personnel management 3. Leadership
4. Operations and distribution 4. Communication
5. Customer Relations 5. Computer Literacy
6. Bookkeeping/Accounting 6. Human Relations
7. Promotions and Advertising 7. Managing Change
8. Resources Management 8. Creative Thinking
9. Financial Management 9. Time Management
10. Information Management 10. Conflict Management

Job Opportunities for Entrepreneurship as a Career

If you‟re an aspiring entrepreneur, there are different career paths you can take to turn
your dream into a reality. Which path you choose will depend on your experience, skills,
finances, and flexibility, as well as your goals for the future (Doyle, A., 2020).
Career opportunities you might pursue according to Michalowicz (2011) as cited by
Edralin, D. M., 2016):
Entrepreneurship Career Opportunities for the Entrepreneurship Career Opportunities for the
Academic Track other Tracks
• Business Consultant Fine Arts
• Sales • Artist
• Research and development • Graphic designer
• Not-for-profit fundraiser • Photographer
• Teacher • Art gallery manger
• Talent recruiter • Film director
• Business reporter Fashion Designing
• New venture creation • Designer wear production
• Career in existing entrepreneurial • Fashion marketing, planning and concept
ventures management
• Fashion media design management
• Fashion accessory design, quality control,
and promotion brands
• Costume designer
• Fashion consultant and personal stylist
• Technical designer and graphic
designer
• Fashion coordinator
Sports
• Health club manager
• Strength, wellness or conditioning coach
• Fitness program or event planning manager
• Professional or amateur team
manager
• Sports facility manger
• Corporate fitness director
• Rehabilitation center director
• Nutrition center manager
TECHVOC Track
• Cook/Chef
• Automotive mechanic
• Electrician
• Technical support specialist
• Tool keeper and technician
• Network support Associate
• Mechanical technologist

Note: Most would-be entrepreneurs, however, remain self-employed, preferring to be the boss.
Reasons why many would like to become an entrepreneur (www.scu.edu):

1. Achievement, Challenge, & Learning

2. Independence & Autonomy – you can set your own goals, pick their own partners, and
face the consequences of your decisions.
3. Income Security and Financial Success
4. Recognition and Status
5. Family
6. Dissatisfaction with Current Work Arrangements
7. Community and Social Motivation

Written Activity 1. Read and analyze the facts about the competencies in Entrepreneurship below.
Determine whether the statement is TRUE OR FALSE. Write TRUE if the statement is correct and write
FALSE if otherwise. Write your answer before the number.

1. Entrepreneurship can be learned by anyone, it’s not something that can simply
learn in a classroom.
2. Certain skills, such as communication, delegating and respecting others can only
be acquired through practice and developing „habits of character‟.
3. Habits of character may not strictly be related to business but are to do with the
kind of person the entrepreneur is and what he/she does.
4. An entrepreneur has to have certain cultivated and inherent qualities in order to
make a success of his or her venture.
5. Hard work and determination to win have made many successful business people
to reach their aspired goals.
6. An Entrepreneur must hesitate for personal or other reasons.
_7. Business involves many risks, which an entrepreneur must hesitate to take.
8. New ideas help make a business venture successful.
9. Certain attributes are essential for an Entrepreneur to establish his or her business
on sound footing.
10. The only way to acquire the habits essential for entrepreneurs is by acting in a
way inconsistent with them.

Written Activity 2. Read and analyze the competencies below that every entrepreneur should develop and
identify whether this refers to Personal Competencies, Interpersonal Competencies, or Business
Competencies. Write your answer in the space provided.
1. Emotional balance 6. Resource Management skill
2, Negotiation skills 7. Resiliency
3. Leadership skills 8. human relation
4. Persistence 9. Respect
5. Charisma 10. Tenacity
Written Activity 3: DIRECTIONS: Aside from the given examples in the above discussions, enumerate what
is asked in the box. Write your answer in the space provided.

Competencies in Entrepreneurship
Personal Competencies:
1.
2.
Interpersonal Competencies:
1.
2.
Business Competencies
1.
2.
Core Competencies:
1.
2.
Common Competencies:
1.
2.
Job Opportunities for Entrepreneurship as a Career
Possible business venture:
1.
2.
Possible full-time job:
1.
2.
Reasons why many would like to become an entrepreneur:
1.
2.

Reflection Activity:
DIRECTIONS: As would-be Entrepreneur, you are tasked to write down at least 3 career opportunities
which attract you most. Indicate what competencies you n e e d t o enhance in order t o become
successful in these opportunities. Write your answer in the space provided.

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