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APP 2 MODULE | ENTREPRENEURSHIP
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Senior High School Department

General Academic Strand
Benjie F. Good, LPT
Mobile Number: 0938-133-5050
Email: benjiegoodgaga@gmail.com
Consultation Hour: Every Saturday from 8:00am to 11:30am

August 10, 2020

Dear Student,

APP 2: ENTREPRENEURSHIP
Google Classroom Code:

We are pleased that you have chosen to study with us here at the Senior High
School Department of Assumption College of Nabunturan. It is our hope that we will
be able to provide the utmost support, boundless rapport and imperative information
to succeed in this subject.

I am the instructor of this subject and will be your primary point of contact in relation
to any academic matters concerning your study in this subject. My contact details
and our course code in the google classroom are shown above. I look forward to
communicating with you particularly by email or text messages. I also expect your
full participation in our incoming discussions in the google classroom. If you have
doubts with the concepts presented, feel free to ask for clarification by posting
questions in the dialogue box.

I recommend also that you take time to support your classmates by reading their
posts and leaving comments if you agree with their views and ideas on the topic
discussed. By then we will be able to build a supportive learning community in this
subject which is essential for the completion of the subject.

Once again let me welcome you. I look forward to work with you throughout the
semester.

Yours sincerely,

Benjie F. Good, LPT

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Lesson 1: Introduction
to Entrepreneurship

Credits: CreativeMarket.com

“It’s more fun in the Philippines” is the slogan of the department of

Tourism to attract the tourists coming from other countries. It is really more fun,
because our country is blessed with different beautiful sceneries and tourist’s
destination. Do you know that we have a lot of products, crafts and materials
that we can buy and sell? Putting these to use might help resolve the
unemployment problem in our country. Through entrepreneurship, we can offer
products and services that can create many jobs. In this lesson, we will be
learning the things that an entrepreneur should possess.

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LEARNING OBJECTIVES
At the end of this module, you are expected to:
 define what means to be entrepreneur;
 compare the pros and cons of being an entrepreneur;
 identify successful entrepreneurs and their achievements;
 describe who becomes an entrepreneur;
 list the key characteristics of an entrepreneur;
 explore ways to build your business potential; and
 explain the value of learning about entrepreneurship

MOTIVATING ACTIVITY
Entrepreneur

Grow
Credits: Style of Money / Finance Blog
Progress Invest
State one-word that describes an entrepreneur and explain?

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Expand
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Plan
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PROCESSING ACTIVITY
In the picture given above, write your own thoughts about the five essential
elements of entrepreneurship. (Note. One to two sentences will do)
1. Plan
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2. Progress
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______________________________________________________
3. Grow
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4. Invest
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5. Expand
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What is your understanding about the word “Business”? (Note: two to three
sentences will do)
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INPUT 1

APP 2 MODULE | ENTREPRENEURSHIP

Credits: Steve Mariotti. Entrepreneurship:

Owning your Future
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Let us know the story of one of the successful entrepreneur in the Philippines.

(As told by Henry Sy’s son)

Today, I’m now going to feature the life story of the richest
man in the Philippines. He is no other than Henry Sy, the
retail magnate who owns all established 33 SM Malls and
also a banking magnate who owns Banco De Oro-
Equitable-PCI Bank and majority share in China Bank.
This is another inspiring story as we witness his rags to
riches story on how he built all SM Malls and became one
of the biggest bankers enabling him to become the richest man in our country
surpassing both Lucio Tan and the Ayalas.
Let’s learn and be inspired from another successful entrepreneur story as his
daughter Teresita Sy-Coson narrates the story of his father’s success:
Our company, SM, as many of you may already know, came from the hard work of
my dad, Henry Sy, Sr. It is a rags to riches story that even myself did not realize
until I went to trace his roots in China.
His journey from the thatched hut I saw there to the shopping centers he has today
is something that amazes even myself.
His determination, his discipline and his thriftiness have produced an astute and
street smart businessman who has influenced a lot of people. Including us, his
children.
My father’s perseverance during the different crises our country has gone through
has made our active business pursuits possible for a half century. True, he was
disappointed with the economy many times, but he never saw the reason to quit
and instead pursued his goals relentlessly.
He had many obstacles – both external and internal – in his business, and there
were times he could not understand why things had to be so complicated for him
to pursue his business objectives.
It has been written – and I can attest that it is true – that Henry Sy started from the
bottom.
He came to the Philippines at the young age of 12, and worked in his father’s small
sari-sari store more than 12 hours everyday to help him. It was located on
Echague St., which is now Carlos Palanca Sr. St. in Quiapo, Manila. There, he
devised ways to increase his income by developing small portions of products –
much like the sachets we see today in the supermarkets.
He was able to make multiple sales in order to make extra income, spending so
much time in the store that he had no time to go out and play with friends in the
neighborhood. It did not take a long time for him to realize, however, that he can
only do so much in a sari-sari store environment.
WWII came and the sari-sari store was looted and burned. He did a lot of buying
and selling of odd things during the war to enable the family to survive.
This must have provided him the hands-on training for his stamina in business. At
one time, he was hit by shrapnel while selling, and quite fortunately was brought to
the hospital by his good friend in a kariton.
Without that friend, he could have bled to death. He treasured that friendship and
later expressed his gratitude after the war by making that friend his partner in a
shoe store. The partnership lasted for more than 40 years until the shoe store had
to give away to the building renovations of the lessor.
After the war ended in 1945, he ventured into selling American shoes imported by
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enterprising Gis.
He later saw the opportunities of opening a shoe store, and not long after he was
managing three shoe store in partnership with friends.
With the pleasure of a growing family while at the same time pursuing studies at
FEU in the early 50s, he sought more ways to augment his income.
He studied the market and decided to be different. While other young men went to
the US to pursue a higher education, he went on a long business trip to the East
Coast, and came home with a lot of merchandising ideas.
For a time, he was selling a lot of shoes, accessories, and leather goods, hoping to
change the way shoe manufacturers look at the industry.
Sensing a lot of opportunities, he decided to open SHOE MART – “SM” – the first
air-conditioned shoe store that merchandised shoes in a very inviting and classy
format. With the success of that store, he went on to open more shoe stores, but
he could not get enough suppliers.
Many shoe manufacturers at that time could not understand why they had to listen
to this shoe retailer who had very definite ideas on what he wanted to sell. They
did not cooperate by providing him with the volume he needed, and because of
that limitation, he gradually shifted to apparel – and thereafter-other merchandise –
with the help of my mother.
He was continuously learning from his customers, suppliers, and employees. This
on-the-job research gave him enough confidence to expand to a department store
chain. Many things in life grow out of needs, and to meet the needs, you become
determined. With determination you will take extra challenges and do things
differently – which will most likely bring success.
We opened our first department store in 1972, two months after Martial Law was
declared. The business had a slow start, but progressed steadily. During the
Martial Law years, he continued to open more department stores, reaching a point
wherein he could not get space he needed in the existing shopping centers during
that time. He then decided think long term, and invest in properties for malls, which
were patterned after suburban shopping centers, which he had been studying for
some time.
When we started the construction of our first mall in 1983, the Philippines was in
the midst of a debt moratorium and experienced hyper inflation. The economy
decline was further aggravated by the assassination of Ninoy Aquino. Many
bankers predicted our demise because my dad came from nowhere – he may had
a few department stores and shoe stores at that time, but he was not one of the
financial heavy-weights at that time.
Unaffected by criticism, and armed with sheer determination and optimism, he
persisted and opened in 1985 with our department store and supermarket and a
few tenants. Many potential lessees were saying no to lease offers.
At about the same time, given the social unrest of the times, our own Shoemart
Makati was faced with ugly strikes. He almost gave up, but through the
encouragement of his employees and customers, he continued. At that time, he
decided emotionally draining disturbances should not overpower him or detract
him from his goals. Since that time, he has not faltered in his confidence, and
became even more determined to continue the business. He also convinced
everyone of us in the organization to follow his optimism.
Later, we expanded, slowly building malls at that time to get our formula right. The
expansion was not without difficulties. When constructing Sta. Mesa and
Megamall, we were faced with delays in construction due to cement shortages and
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the 1989 coups.

When the 1997 Asian crisis came, we were planning our mall expansion, including
the Mall of Asia, which was then envisioned to be the biggest mall in the region.
Because my dad felt the tsunami-like effects of the region wide crisis, which was
unlike any other he had experienced, we had to change plans. We deferred
opening the Mall of Asia, and went on with the opening of other malls.
We grew in numbers instead of size, serving different smaller markets. We have
also expanded our retail business beyond department stores to include
supermarkets, hardware stores, appliance superstores, and other retail formats.
At about the same time, we looked into the banking business – both at our bank
and at the industry. At the time, our main bank, Banco de Oro was a medium sized
bank. Because we were quite conservative in lending, the deluge of bad loans that
characterized the times did not affect us. Given that, we thought it was an
opportune time to grow amidst some instabilities. We reorganized and
strengthened our organizations for about three years and developed growth
strategies that started in the year 2000.
Encouraged by the consolidation program of Central Bank of the Philippines (BSP)
in making Philippine banks more competitive relative to the region, Banco De Oro
made few acquisitions because of the moratorium on banking. It acquired the Dao
Heng Philippines branch, the First eBank, the Banco Santander Philippines
branch, the United Overseas Bank branches, and most recently – Equitable PCI
Bank.
Opportunity is where you find it, not where it finds you. Crisis and weakness
indicate one can look for opportunities. Transforming problems into opportunities
can bring good returns. Prosperity and growth come only to a business that
systematically exploits its potentials and systematically optimizes its performances.
Our business – especially that of shopping centers is a long term business. It takes
at least eight years to pay back. We feel that the country will always be around,
and with Filipinos’ love for shopping, there will always be customers we can sell to.
We also have to continuously innovate. Our other retail formats like supermarkets,
hardware stores, appliance stores, home stores, toy superstores, baby stores, and
Watsons are continuously evolving with the shopping habits of our customers.
Because they frequently visit the store, we make sure we have new products all
the time so that their shopping experience will not be boring.
Our group’s policy is to look for opportunities at all times, and to be ready to act
when it comes. While crises may have brought opportunities, we continue our
plans in good or bad times with some changes to suit our demands of the time.
May Henry Sy’s success rubs off to us as well. As a final note, I would like to leave
this quote from Henry Sy: “There is no such thing as overnight success or easy
money. If you fail, do not be discouraged; try again. When you do well, do not
change your ways. Success is not just good luck: it is a combination of hard work,
good credit standing, opportunity, readiness and timing. Success will not last if you
do not take care of it.”
Source: https://www.lloydluna.com/motivation-from-henry-sy/

ACTVITY 1

APP 2 MODULE | ENTREPRENEURSHIP

A. Answer the given questions based from the article above. Discuss it
thoroughly.
1. Identify the character and trait that Mr. Henry Sy possessed.
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3. Identify what significant learning you can draw out from the life of Mr. Henry
Sy.
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4. Will you emulate the path of Mr. Sy’s Life?
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B. Interview an entrepreneur, from among your relatives, parents’ friends, friends’
parents or siblings, or owners of businesses in your neighborhood. Find out what
is his/her entrepreneurial story—why and how he started the business, and his
experiences in growing his business.
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INPUT 2

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Philippines USA

B. Discussion Questions
1. Discuss the importance of each of the entrepreneurial
characteristics and traits. Can you identify circumstances when
you needed to apply these traits? Can you think of circumstances when and
entrepreneur would need those traits?
Credits: Steve Mariotti.
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Entrepreneurship: Owning your
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Future
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A . Compare and Contrast the
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ACTVITY 2 entrepreneurs in the Philippines to USA.
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Highlights every strengths of the two
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country and its similar.
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2. Discuss the importance of the entrepreneurial skills. Can you identify tasks,
activities, or jobs when you needed to apply thee skills? Can you think of specific
tasks or activities when an entrepreneur would need to apply these skills?

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EVALUATION
Write a 300-words essay about the importance of entrepreneurship in the lives of
people.
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APP 2 MODULE | ENTREPRENEURSHIP