Learning Module for Senior High School Accountancy , Summaries of Business

Download Learning Module for Senior High School Accountancy and more Summaries Business in PDF only on Docsity! DefED DEPARTMENT Wf OF EDUCATION Applied Subject First Quarter — Module 1 ENTREPRENEURSHIP  GRADE 12 __________________________________________________________________________________________ Learning Module for Senior High School Accountancy , Business and Management Entrepreneurship – Grade 12 Alternative Delivery Mode Quarter 1 – Module 1: Overview of Entrepreneurship and its Relevance to SHS Students 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 exploitation of such work for 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 module 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 Department of Education Secretary: Leonor Magtolis Briones Undersecretary: Diosdado M. San Antonio Printed in the Philippines by ________________________ Department of Education – National Capital Region Office Address: ____________________________________________ ____________________________________________ Telefax: ____________________________________________ E-mail Address: ____________________________________________ Development Team of the Module Writers: Farida F. Tallud, DBM Jupiter Q. Whiteside, MBA Manuel L. Hermosa, EdD Ellaine I. Dela Cruz, DBA Ma. Cristina A. Labay, MM Mark Vincent B. Emit, PhD Clarabelle V. Dalimit, DEM Edna B. Waje, DEM Mamerto T. Goneda, MSIT Isabel A. Gumaru, DBA Editors: Dr. Remylinda T. Soriano, EPS Dr. Angelita Z. Modesto, PSDS Illustrator: Writers Layout Artist: Writers Management Team: Malcolm S. Garma, Regional Director Name of Regional Director Genia V. Santos, CLMD Chief Name of CLMD Chief Dennis M. Mendoza, Regional EPS In Charge of LRMS Maria Magdalena M. Lim, CESO V, Schools Division Superintendent Aida H. Rondilla, CID Chief Lucky S. Carpio, EPS In Charge of LRMS Division ADM Coordinator Name of Division ADM Coordinator GRADE 12 __________________________________________________________________________________________ Learning Module for Senior High School Accountancy , Business and Management 5 The following are some reminders in using this module: 1. Use the module with care. Do not put unnecessary mark/s on any part of the module. Use a separate sheet of paper in answering the exercises. 2. Don‟t forget to answer What I Know before moving on to the other activities included in the module. 3. Read the instruction carefully before doing each task. 4. Observe honesty and integrity in doing the tasks and checking your answers. 5. Finish the task at hand before proceeding to the next. 6. Return this module to your teacher/facilitator once you are through with it. If you encounter any difficulty in answering the tasks in this module, do not hesitate to consult your teacher or facilitator. Always bear in mind that you are not alone. We hope that through this material, you will experience meaningful learning and gain deep understanding of the relevant competencies. You can do it! What I Need to Know? This module was written for you to accomplish at home. It was carefully designed so that you can work at your own pace and allow self-discovery of the concept through activities that you will perform. Activities were also selected to allow independent learning which also aims to develop your reading comprehension skills through understanding written texts. It covers many different learning situations where you can relate your personal experiences on different practical scenarios about Entrepreneurship. After going through this module, you are expected to: 1. Increase your knowledge about entrepreneurship. 2. Determine the relevance of Entrepreneurship to your everyday life and to the society as a whole. What I Know? To check your prior knowledge about the topic, and to solicit the questions that you want to know about it, fill in the Know and Want to know components of the Know-Want to know- Learned (KWL) chart legibly. For the Know component, you may write word/s or phrase. For the want to know component, state your responses in interrogative or question form. You may list as many responses as you want for each component. Write your responses on a yellow paper. GRADE 12 __________________________________________________________________________________________ Learning Module for Senior High School Accountancy , Business and Management 6 KWL Chart Topic Know Want to know Learned Concept of Entrepreneurship Relevance of Entrepreneurship to your everyday life Guide Questions 1. Based on what you have written on the Know component of the chart, what do you know about entrepreneurship and its relevance to your everyday life and to the society as a whole? 2. If you were to think of a question that you want to ask about entrepreneurship and its relevance to your everyday life and to the society as a whole? What’s In The word “entrepreneur” is derived from the French verb enterprendre, which means „to undertake‟. This refers to those who “undertake” the risk of new enterprises. An enterprise is created by an entrepreneur. The process of creation is called “entrepreneurship” (www.yourarticlelibrary.com). DIRECTIONS: After you have filled-in the K and W components of the chart and answered the guide questions, please answer the diagnostic assessment below. DIAGNOSTIC ASSESSMENT Identification. Read carefully the statements below and identify whether this refers to Entrepreneurship or Entrepreneur. Write your answer in a yellow paper. 1. A person who undertakes the risk of starting a new business venture. 2. It is high-risk, but also can be high-reward as it serves to generate economic wealth, growth, and innovation. 3. Creates a firm, which aggregates capital and labor in order to produce goods or services for profit. 4. It is an important driver of economic growth and innovation. 5. Creates a business plan, hire labor, acquire resources and financing, and provide leadership and management for the business. GRADE 12 __________________________________________________________________________________________ Learning Module for Senior High School Accountancy , Business and Management 7 What’s New? Entrepreneurship is one of the resources economists categorize as integral to production; the three resources are land/natural resources, labor and capital. An entrepreneur combines these three to manufacture goods or provide services. They typically create a business plan, hire labor, acquire resources and financing, and provide leadership and management for the business (www.investopedia.com). Definition of Terms: To fully understand this module, please read carefully the definitions in column A and match it with the word/phrase in column B. Write your answer in a yellow paper. Column A Column B 1. It involves developing new products or improving existing technologies, processes, designs and marketing to solve problems, increase efficiency, reach new customers, and ultimately increase profits. A. Livelihood 2. Involves sale or lease of any product, service, equipment, etc. that will enable the purchaser-licensee to begin a business. B. Entrepreneurship 3. Refers to the act of creating a business or businesses while building and scaling it to generate a profit. C. Social Change 4. Refers to their "means of securing the basic necessities (food, water, shelter and clothing) of life". D. Socioeconomic 5. The system of production, distribution and consumption. The overall measure of a currency system; as the national economy. E. Business Opportunity 6. Is a person who sets up a business with the aim to make a profit. F. Business Venture 7. Refers to any significant alteration over time in behavior patterns and cultural values and norms. G. Relevance 8. Related to the differences between groups of people caused mainly by their financial situation. H. Business Innovation 9. It is a new business that is formed with a plan and expectation that financial gain will follow. It is usually formed out of a need for a service or product that is lacking in the market. I. Entrepreneur 10. It is simply the noun form of the adjective "relevant," which means "important to the matter at hand." J. Economy GRADE 12 __________________________________________________________________________________________ Learning Module for Senior High School Accountancy , Business and Management 10 What’s More LET US HAVE SOME FUN! Independent Activity 1. Picture Analysis. Analyze the picture below then answer the corresponding guide questions. Write your answer in a yellow paper. https://images.search.yahoo.com Guide Question: What appropriate product and/or business that can be conceptualized during this COVID -19 pandemic? Write as many in bullet form in a yellow paper. Independent Activity 2. Enumeration. Give what is asked in the items below. Write your answer in a yellow paper. Items Answer 1. Give the three (3) business resources A. B. C. 2. Give three (3) importance of Entrepreneurship to the economy. A. B. C. 3. Give three (3) relevance of Entrepreneurship to A. B. GRADE 12 __________________________________________________________________________________________ Learning Module for Senior High School Accountancy , Business and Management 11 the you as a student C. 4. Give three (3) known families who owned the big Corporations in the Philippines. A. B. C. 5. Give three characteristics of an Entrepreneur. A. B. C. What I Have Learned? You have to fill in the L component of the KWL chart to generalize the things you have learned about the topic. Write your answer in a yellow paper. KWL Chart Topic Know Want to know Learned Overview of Entrepreneurship I have learned that …. Relevance of Entrepreneurship to SHS Students What I Need to Reflect Embarking on the entrepreneurial career path to “being your own boss” is exciting. But along with all your research, make sure to do your homework about yourself and your situation (investopedia.com). A Few Questions to Ask Yourself (ww.investopedia.com)  Do I have the personality, temperament, and mind-set of taking on the world on my own terms?  Do I have the required ambiance and resources to devote all my time to my venture?  Do I have the required network to seek help and advice as needed?  Have I identified and built bridges with experienced mentors to learn from their expertise?  Have I identified my target customer base for the initial phase?  Have I identified sales and distribution channels? GRADE 12 __________________________________________________________________________________________ Learning Module for Senior High School Accountancy , Business and Management 12  Who are the funding sources I may need to approach to make this big?  What technical infrastructure do I need? What I Can Do? DIRECTIONS: After you have filled-in the L component on the chart, please work on the WORK IN PROGRESS You are tasked to conceptualize your future business plan which you can work on as we discuss our next lessons and later you may venture into after finishing this subject. Congratulations! You are almost done in this lesson. Please proceed to the next part which is the assessment. Assessment FORMATIVE ASSESSMENT Multiple Choice: Read and answer each statement carefully then write the letter of the best answer on a separate sheet of paper. 1. Who acts as a coordinating agent in a capitalist economy? A. Manager C. Entrepreneur B. Finance Officer D. Broker 2. Which of the following is not a definition of Entrepreneurship? A. It creates opportunities, ensures social justice, instills confidence and stimulates the economy. B. It is an important part of the economic growth strategies of many local and national governments around the world. C. Refers to a person who sets up a business with the aim to make a profit. D. The act of creating a business or businesses while building and scaling it to generate a profit. 3. Which of the following is a relevance of Entrepreneurship to SHS Students? GRADE 12 __________________________________________________________________________________________ Learning Module for Senior High School Accountancy , Business and Management 15 Answer Key What I Know KWL Chart Topic Know Want to know Concept of Entrepreneurship  Entrepreneurship is the act of creating a business to get a profit.  Entrepreneurship is an important driver of economic growth and innovation.  Entrepreneurship is high-risk, but it serves to generate economic wealth, growth, and innovation.  Entrepreneurship impact the economy  Entrepreneurship help economies.  Entrepreneurship add to the gross national income  Entrepreneurship create social change  Entrepreneurship play a key role in any economy.  What is the difference of Entrepreneurship and Entrepreneur?  What is the contribution of entrepreneurship to the society?  What are the characteristics of entrepreneurs?  How Entrepreneurship started in the Philippines?  What is Entrepreneurship? Relevance of Entrepreneurship to your everyday life 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  Why do we need to study Entrepreneurship?  Why Entrepreneurship is offered in the Senior High School?  How can we use Entrepreneurship in our daily life? GRADE 12 __________________________________________________________________________________________ Learning Module for Senior High School Accountancy , Business and Management 16 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. What’s In 1. Entrepreneur 2. Entrepreneurship 3. Entrepreneur 4. Entrepreneurship 5. Entrepreneur What’s New 1. H 2. E 3. B 4. A 5. J 6. I 7. C 8. D 9. F 10. G What’s More Independent Activity 1. Picture Analysis 1. Delivery Services like grab food 2. Online Selling of food products and hygiene products like soap, etc. 3. To make fashionable face masks 4. E-Loading services 5. Events hosting using app like zoom Independent Activity 2. Enumeration Items Answer 1. Give the three (3) business resources A. Land B. Labor C. Capital GRADE 12 __________________________________________________________________________________________ Learning Module for Senior High School Accountancy , Business and Management 17 2. Give three (3) importance of Entrepreneurship to the economy. A. Entrepreneurship generates new wealth in an economy. B. Entrepreneurship decreases poverty. C. It creates opportunities, ensures social justice, instills confidence and stimulates the economy. D. Entrepreneurship improves productivity E. Entrepreneurs create jobs. F. Entrepreneurs innovate. G. Entrepreneurs create innovation and social change H. Entrepreneurs give to society 3. Give three (3) relevance of Entrepreneurship to the you as a student A. To prepare students for livelihood even before college. B. Entrepreneurship education aids students from all socioeconomic backgrounds to think outside the box and nurture unconventional talents and skills. C. 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. D. It exposes students to numerous opportunities to learn how to think critically and analyze the pieces on the board. E. Being aware of all the important factors and seeing how they affect each other is the foundation of a smart decision-making process. F. Students have to be exposed to real-world examples and learn from their own experience. G. Entrepreneurship education requires students to be innovative, creative and collaborative with others. H. Entrepreneurship education provides budding entrepreneurs with the skills and knowledge to come up with business ideas and develop their own ventures. 4. Give three (3) known families in the who owned the big Corporations in the Philippines. Zobel family (Ayala), the Lopez clan, Lucio Tan, Henry Sy, John Gokongwei, Alfonso Yuchengco, Eduardo Cojuangco Jr., Jose Yao Campos (Unilab Group of Companies), George Ty (Metrobank), Mariano Que (Mercury Drug), and Tony Tan- Caktiong (Jollibee). 5. Give three characteristics of an Entrepreneur. A. Innovative, Resourceful B. Creative, Hardworking C. Critical Thinker, Risk Taker, etc Assessment 1. C 2. C 3. A 4. C 5. B