Lesson 1

Question 1

• From the French word entreprendre which means to
  “to undertake”.
• It connotes a business paradigm which signifies the start
  of a new business undertaking.
• A person who organizes, operates and assumes the risk
  of business ventures
• A person who strongly advocates and correctly
  practices the concepts and principles of
  entrepreneurship in operating and managing the selfowned business enterprise.

Answer 1

Entrepreneur

Question 2

*Is an art of observing correct
practices in managing and
operating a self-owned, wealth-creating business enterprise by providing goods and services
that are valuable to the
customers

Answer 2

ENTREPRENEURSHIP

Question 3

Importance of Entrepreneurship

Answer 3

1. Entrepreneurship generates new wealth in an
   economy.
2. Entrepreneurship decreases poverty.
3. It creates opportunities, ensures social justice, instills
   confidence and stimulates the economy.
4. Entrepreneurship improves productivity.
5. Entrepreneurs create jobs.
6. Entrepreneurs innovate.
7. Entrepreneurs create innovation and social change

Question 4

Relevance of Entrepreneurship to SHS Students

Answer 4

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 have to 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.

Question 5

A creative individual that
introduces new ideas to run the
business

Answer 5

Entrepreneur

Question 6

An individual that follows the
existing ideas

Answer 6

Business Individual

Question 7

• Innovative
• Customer-oriented
• The higher the risk, the better
• Market Leader
• Opportunity Oriented

Answer 7

Entrepreneur

Question 8

• Traditional
• Profit oriented
• The lower the risk margin, the better
• Market player
• Resource oriented

Answer 8

Business Individual