Professional Documents
Culture Documents
III. Subject Matter: Assessment of Personal Competencies and Skills (PECs) vis-à-vis
PECs of a practicing entrepreneur/ employee
IV. References:
https://www.pmi.org/learning/library/entrepreneurial-business-analysis-practitioner
https://www.entrepreneur.com/article/254215
V. Procedure:
A. Readings (please answer the pre-test before reading the attached info sheet)
B. Exercises for skill subjects / Analysis questions using HOTS for content
Subjects
1.What is entrepreneurship?
2. Is entrepreneurship relevant to FBS specialization?
3. What are the characteristics of a practitioner and entrepreneur?
Exercise 1
Directions: Give your evaluation about the pictures.
C. Assessment/Application
Directions: Please answer the following.
1. In your own understanding, what is entrepreneurship?
2. Is it necessary for an FBS student to possess an entrepreneurial skills?
Support your answer.
3. Describe a practitioner and entrepreneur.
Entrepreneur: “An individual who, rather than working as an employee, runs a small business and
assumes all the risk and reward of a given business venture, idea, or good or service offered for
sale. The entrepreneur is commonly seen as a business leader and innovator of new ideas and
business processes” (Investopedia, 2015 https://www.pmi.org/learning/library/entrepreneurial-
business-analysis-practitione).
Some say that people are “born” entrepreneurs, or “natural” entrepreneurs. This may be so, as
much as a doctor or engineer may also be born to be in their respective profession. However,
most us require education and training. All professionals - physicians, lawyers, engineers and
accountants - go through rigorous training and education to master their respective fields. This is
also true for professional entrepreneurs (Bill Rader 2017).
https://www.entrepreneur.com/article/252970
Are you an entrepreneur? If you answered “no” because you don’t own a business, know this: Being an
entrepreneur doesn’t require owning a business any more than being an accountant requires working for an
accounting firm.
If you've ever been on a job interview, you've probably answered this question: "What have you done to
improve your weaknesses?" This is a sensible question . . . to an employee. After all, employees are taught
that weaknesses are bad and that they should be improved.
Not entrepreneurs.
Entrepreneurs view focusing on weaknesses as futile; instead, they draw on their strengths.
Employees, constantly under the watchful eye of their bosses, strive for perfectionism. After all, nobody
wants a black mark on that all-important performance review.
Yet entrepreneurs thrive on lousy work, because putting out lousy work means that at least
they're producing, and it’s better to create and fail than to not have created at all.
Warren Buffet said, "The difference between successful people and really successful people is that really
successful people say no to almost everything.”
Entrepreneurs, then flex their "no" muscle often to maintain their focus on what matters. Employees, on the
other hand, say "yes" to everything because they fear that if they say 'no' to an opportunity, they'll miss out
on their big break.
4. Entrepreneurs delegate; employees practice 'DIY.'
Entrepreneurs are always looking for ways to get things off their plate. They know the monetary value of
their time, and focus on the things only they can do.
Employees are the opposite. They try to do everything themselves, and see it as a weakness when they can’t
juggle it all. They try to know every single aspect of the business. The mantra “If you want it done right,
do it yourself” is the employee’s mantra.
There’s no such thing as multitasking. Despite what employers want, this statement is true. Studies show it’s
impossible for our brains to focus effectively on more than one thing at a time.
Entrepreneurs recognize that multitasking means doing nothing well, so they “mono-task” instead.
Employees, however, are trained to worship multitasking and beat themselves up when their brains won’t
cooperate.
If you ask many people in the employee mindset why they won't start a business, they'll say they need the
security of their day jobs. Not having access to a pension, steady paycheck or health insurance is too risky,
they say.
Without risk, there’s no reward, and rather than scaring entrepreneurs away, this knowledge invigorates them.
As Peter Drucker said, “Whenever you see a successful business, someone once made a courageous
decision.”
Ahh, work/life balance. That is every employee’s most coveted dream, the most sought-after treasure.
But entrepreneurs know that balance isn't achievable. Instead of seeking balance, they believe that to excel
in one area of their lives, others will suffer. They accept that the areas of their lives rotate through seasons.
Instead of fighting for an unachievable balance, they recognize that one thing will always have to take
precedence over the others.
In the corporate jungle, it’s survival of the fittest. If you’re not the smartest, most well-connected or hardest-
working person in your department, you’re stuck at that bottom rung of the ladder.
Employees, therefore, are threatened by those who are smarter than they. They view the smarter guys as
competition
Entrepreneurs hire those people. They know that without a great team, their business will fail, so they hire
up.
You don’t have to be a startup CEO or even own your own business to be an entrepreneur, but the
entrepreneurial mindset is one that attracts success.
And the really good news is that there are many different ways in which you can apply these mindsets to
become successful at whatever you choose to do with your career.
Entrepreneurs hire those people. They know that without a great team, their business will fail, so they hire
up.
You don’t have to be a startup CEO or even own your own business to be an entrepreneur, but the
entrepreneurial mindset is one that attracts success.
And the really good news is that there are many different ways in which you can apply these mindsets to
become successful at whatever you choose to do with your career.
https://www.entrepreneur.com/article/254215
Despite all the beautiful pictures on Instagram, not everyone is meant to be an entrepreneur.
Entrepreneurship can lead to a life of freedom, and benefit the people a business serves. Or, it can be a
nightmare if someone isn’t cut out for entrepreneurship. It’s not a one-size-fits-all choice for everyone.
Life isn’t a movie where things magically work out. You can’t be 100 percent certain of anything in life,
but there are six signs important signs that you may not be ready or cut out for entrepreneurship.
SIX SIGNS IMPORTANT SIGNS THAT YOU MAY NOT BE READY OR CUT OUT FOR
ENTREPRENEURSHIP.
Entrepreneurship is lonely at times but you only get out of it what you put in. The ability get things
done working alone is important. You have to be self-motivated to complete tasks, especially when you
don't feel like it.
If you are the type of person who needs a boss telling you what’s next, you are not ready.
Before you consider leaving that steady paycheck, you should have a foundation established. This
foundation includes a generous emergency fund—you never know when things won’t work out as planned.
It should also include a strong financial base. Your debt shouldn’t be out of control and you should have
enough currently to pay your bills comfortable. Income from entrepreneurship can be sporadic and you
want to prepare the best you can.
The stress of a business will be overwhelming at times. You have to juggle running the business while
dealing with pressure from many angles. If you crumble under pressure and stress, think twice about
entrepreneurship.
Whatever business you want to start will require research. Before you take the first steps you should become
an expert on what it will take to be profitable. The Internet and social media provide an opportunity to do
some efficient research on building a profitable business. Take advantage.
5. You have no passion for the business you want to start.
Passion isn’t enough to build a business but you better believe it’s an important part of the equation. There
are times when a business feels like a job. Your passion is what reminds you of what you have. It helps you
continue to move forward. If you don’t have a passion for any one thing, you are not ready for
entrepreneurship.
Growing a business can be fun, or it can frustrate you into quitting. When there’s a lack of growth or
research, people turn to copying a successful entrepreneur. What worked for someone else probably won’t
work for you. Each of us is different and so are our businesses. We have to find what works for us where
we are in the process. If you are relying on copying someone else, you are not ready for entrepreneurship.
Don’t leave your day job if you’re not ready for the uncertainty that comes with entrepreneurship. I love
having a business and the freedom entrepreneurship provides, but I recognize how hard this life can be.
Get honest with yourself about what you want from life. Get honest about whether entrepreneurship is right
for you, and if you’re ready. It takes some time to get ready. That’s fine. It’s better to build your dream on
the side with a plan than to turn a dream into a nightmare.