Lesson 7 PECS INTERPRETATION BY CLUSTER

Personal entrepreneurial competencies (PECs) are the characteristics that entrepreneurs must have to be able
to handle difficulties and challenges in business, These pEcs can be interpreted and classified through different
clusters as discussed below:

A. Achievement Cluster

These characteristics are mostly driven by the aspiration to achieve an entrepreneur's goal by any means, with
all efforts possible. This category includes characteri stics that are driven by the entrepreneur's desire to
achieve his goals.

1. Oppurtunity-seeking

An entrepreneur is always on the lookout for chances to improve his business. He would take advantage of
every opportunity to increase his capital, enhance his business setup, expand his market, and other goals.
Even as a student, you can determine if you have this characteristic if you use every possible means to
improve your work in school.

2. Persistence

Even if he fails in a certain aspect of business due to a wrong decision or option taken, an entrepreneur does
not give up easily. Instead, he will plan for and resort to a new set of actions to complete the job. If you keep
on trying to accomplish a reasonable task after having failed previously, you can be considered a persistent
person.

3. Commitment

The moment an entrepreneur engages in business, he is already accepting the responsibilities that go with it.
These responsibilities include having to work overtime, doing tasks h is unfamiliar with, and taking time
awayfrom himself and his family. You possess commitment by living up to yourwords or promises even if you
have to make some personal sacrifices.

4. Risk taking

An entrepreneur realizes a'nd calculates the risk that goes with every business activity. He is not affected by
competition, changing needs and preferences of customer, and other conditions. He thinks of ways by which
he could improve his products and services in order that people will patronize these, thereby surviving or
succeeding in the business he is in. If you take moderate or calculated risk to achieve something while
carefully weighing the advantages and disadvantages, you are def initely a risk-taker.

5. Demand for quality and efficiency

An entrepreneur acts to do things that meet or even exceed existing standards of excellence. He also improves
on past performances and strives to do things better, faster, and cheaper. If you always aim for excellence,
you can be said to possess this characteristic.

B. PLANNING CLUSTER

Planning includes characteristics that focus mainly on establishing objectives and plan of actions towards the
attainment of the end goals.

1. Goal setting

The entrepreneur must establish specific, measurable, attainable, reliable and time bound (SMART)
short term objectives, as well as long term goals. As a student, if you focus on your day to day plans to
accomplish your am b ition someday, then, you are a goal-setter.
2. Information seeking

The entrepreneur personally seeks important data on clients, supplies and even future competitors. He/she,
consults experts for business or technical advice and uses contacts and information networks to obtain
functional information which are essential to goal attainment. An information seeker student loves books and
information. He/she reads books, surfs the internet, and listens to helpt ul conversations to gather data and
useful information.

3. Systematic Planning and Monitoring

The entrepreneur develops and applies logical step-by-step plans to realize goals, assesses alternatives,
monitors progress and shift to other alternative strategies when necessary to achieve goals. If you
systematically plan and monitor your perFormance as a student, you certainly posses this characteristic.

C. POWER CLUSTER

Power is defined as the possession of control, authority or influence over others. The power cluster includes
these two important competencies. This cluster consists of chara cteristics that show control, authority, or
influence over others.

1. Persuasion and networking

The entrepreneur applies various strategies and techniques to sell his ideas to the business. In his contact with
various people, he shoulclbe able to develop a network of clientele to give support to the success of his
business. Young as you are, if you possess the ability to convince people to believe in your own ideas, and you
are able to establish and maintain a circle of friends, you are good enough in persuasion and networking.

2. Self-confidence

The entrepreneur has a strong belief in himself and his own abilities and skills. As a teenager, if you can tackle
all problems that come your way effectively, then your characteristic depicts self-confidence.