MODULE IN PERSONAL ENTREPRENEURIAL

COMPETENCIES

MODULE 1
PERSONAL ENTREPRENEURIAL COMPETENCIES

WHAT IS THIS MODULE ABOUT?

This module is intended for students who are currently enrolled in the
different specialized subjects in
Technology Vocational and Livelihood Track (TVL)

Specifically, this module includes the work ethics of the good entrepreneur.

This module is made up of lesson.

Lesson 1- Personal Entrepreneurial Competencies

WHAT WILL YOU LEARN?

At the end of the lesson the students are expected to:

1. Identify the fundamental characteristics of a good entrepreneur.

2. Define the meaning of entrepreneurial competencies.
3. Explain the importance of Personal Entrepreneurial Competencies
(PECS) in improvement,
development, and growth.
4. Create a plan of action that ensures success in your business or
career choice.

Personal Entrepreneurial Competencies (PECs)

-Technology Vocational and Livelihood Track-
 LESSON 1
PERSONAL ENTREPRENEURIAL COMPETENCIES

INTRODUCTION:
In this lesson, you will learn more about entrepreneurship and the
entrepreneurial competencies related to
your specialization. You will have a first-hand experience in educational
activities leading to assessment of your
personal entrepreneurial competencies (PECs) and the entrepreneurial competencies
of a successful business man
within your province. You will also have several activities that will align your
competencies with those of successful
practitioners. Moreover, this module will encourage you to think about
entrepreneurship and its role in the business
community as well as in the economic and social development of an individual.

To start with this Lesson, let us first understand entrepreneurs and

entrepreneurship.

Entrepreneurs are those with the skills and capabilities to see and
evaluate business opportunities. They are
individuals who can strategically identify products or services needed by the
community, and have the capacity to
deliver them at the right time and at the right place.

Entrepreneurs are agents of economic change; they organize, manage, and

assume risks of a business. Some
of the good qualities of entrepreneurs are: opportunity-seeker, risk-taker, goal-
setter, excellent planner, confident
problem-solver, hardworking, persistent and committed.

Entrepreneurship, on the other hand, is not just a simple business activity

but a strategic process of innovation
and new product creation. Basically, entrepreneurship is both an art and science of
converting business ideas into
marketable products or services to improve the quality of living.

Now that you have background knowledge about entrepreneurs and

entrepreneurship, you can now walk
through in assessing your PECs. Always remember that successful entrepreneurs
continuously develop and improve
their PECs.

Personal Entrepreneurial Competencies (PECs)

-Technology Vocational and Livelihood Track-
 Let’s See What You Already Know

A. Directions: Match the entrepreneurial competencies in column A with their

meaning in column B. Write the letter
of the correct answer on the space provided before each number.

A
B
____1. Creative A. makes wise decisions
towards the set objectives
____2. Profit-oriented B. strategic thinking
and setting of goals
____3. Disciplined C. trusting in one’s
ability
____4. Sound decision maker D. adoptable to change
____5. Possess people skills E. innovates to have an
edge over other competitors
____6. Excellent Planner F. solid dedication
____7. Confident G. skillful in record
keeping
____8. Hardworking H. always sticks to the
plan
____9. Ability to accept change I. work diligently
____10. Committed J. effective and
efficient communication skills and relates
well to people
K. always looking for an
opportunity to have/earn income

B. Directions: Answer the following guide questions on a space provided.

1. Explain the importance of assessing one’s PECs before engaging in a particular

entrepreneurial activity.
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
2. Are there other strategies or approaches where you can assess your PECs? Explain
how these strategies will
become more useful in selecting a viable business venture.
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
3. What are the desirable personal characteristics, attributes, lifestyles, skills,
and traits of a prospective
entrepreneur? Why are these important?

___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
4. Why is there a need to assess one’s PECs in terms of characteristics,
attributes, lifestyles, skills, and traits before
starting a particular business?
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
5. What is the significance of evaluating PECs of a successful entrepreneur? What
helpful insights can you draw from
this activity?
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________

Personal Entrepreneurial Competencies (PECs)

-Technology Vocational and Livelihood Track-
 Personal Entrepreneurial Competencies

The entrepreneurial competencies refer to the important characteristics

that an individual should possess in
order to perform entrepreneurial functions effectively. In this lesson, you will
learn some of the most important
characteristics, attributes, lifestyle, skills and traits of a successful
entrepreneur in order to be successful in a chosen
career.

The following are the fundamental characteristics of an entrepreneur:

1. Hardworking: If you are determined to run your own business, you must
concentrate on your work either as a
producer or a seller. The success of your business depends on how much time and
effort you will spend on it. This
means habitually working diligently for a long period of time. Hardworking people
keep on improving their
performance to produce good products and results, or provide good services.
2. Self-Confidence: Entrepreneurs have confidence in one’s ability and own
judgment. They exhibit self-confidence in
order to cope with all the risks of operating their own business. You must have
strong faith in your ability despite the
problems that you will encounter along the way.
3. Future-Oriented: Once a person enters in a line of business, you must understand
that you are in a non-stop contract
as an entrepreneur. It may take several years to build up a business to a
reasonable standard. The goal for most
successful business people is to build a secure job and stable income for
themselves based on their own abilities.
4. Profit-Oriented: When you enter into the world of business, obviously, you are
looking for income because you
know that this will be your family’s bread and butter. Therefore, you must see to
it that the business can generate
income. Another plan of action is to expand your own business through the use of
your generated income.
An entrepreneur enters into the world of business to generate profit or
additional income. This shall become
the bread and butter for you and for your family as well. Therefore, you must see
to it that the business can generate
income.
5. Goal-Oriented: An entrepreneur is forward looking. You have an advanced
preparation for your business. You set a
long-term goal for the activities that are needed, an extensive preparation for the
production process and procedures
that you need to go through to acquire human and non-human resources. Everything in
your business will have to be
set clearly, organized, and planned depending on the goal you want to achieve.
6. Persistence: Differences in opinion and judgment. Your opponent can be a part of
the rejection on what you intend
to do for your endeavor. As an entrepreneur, you must be firm, strong-willed, and
follow your own belief.
7. Copes with Failure: Learn from your mistakes. As an entrepreneur, you must learn
how to deal with the frustrations
and failures and turn these into productive learning experiences.
8. Discipline: Successful entrepreneurs always stick to the plan and fight the
temptation to do what is unimportant.
9. Committed: A good entrepreneur accepts full responsibility of everything in
his/her business. He/she gives full
commitment and solid dedication to make the business successful.
10. Ability to Accept Change: Change occurs frequently. When one owns a business,
he/she should cope-up and thrive
on changes. He/she has to capitalize on positive changes to make his/her business
grow.
11. Creative: An entrepreneur should be creative and innovative to stay in the
business and have an edge over the
other competitors.
12. Initiative: An entrepreneur takes the initiative. You must put yourself in a
position where you are responsible for
the failure or success of your business.
13. Excellent Planner: Planning is strategic thinking and setting of goals to
achieve objectives by carefully maximizing
all the available resources. A good entrepreneur develops and applies step-by-step
plans to realize the goals. A good
entrepreneur knows that planning is an effective skill only when combined with
action.
14. Possesses People Skills: It is an important skill in order to be successful in
any kind of business. People skill refers
to the effective and efficient communication and relation to people working in and
out of your business. In the day-
to-day business transactions, you need to deal with people. A well-developed people
skill can spell out the difference
between success and failure of the business.

Personal Entrepreneurial Competencies (PECs)

-Technology Vocational and Livelihood Track-
15. Sound Decision Maker: Successful entrepreneurs have the ability to think
quickly by making wise decision towards
predetermined set objectives. Sound decision should spring out from given facts and
information and should be
towards the predetermined objectives.

Guides on how to strengthen your own PECs:

1. React positively to criticisms and be open to feedbacks.
2. Always demonstrate a positive attitude to achieve a desired goal.
3. Always project a strong and well-balanced behavior.
4. Always exercise the assertive style in your work environment.
5. Avoid being too passive and being too aggressive.
6. Consider negative comments as challenges in improving your business.
7. Prioritize your business goals rather than personal goals in order to become a
successful entrepreneur.
8. Acquire specific skills for creating and maintaining a conducive work
environment.
9. Be responsible for everything you do in your business.
10. Always observe entrepreneurial ethics in putting up a business.

How Much Have You Learned?

A. Directions: Column A lists the characteristics of a successful entrepreneur.

Match items in Column A that connects
the correct definition of terms listed in Column B.
Column A Column B
1. Hardworking A. Ability to set realistic
targets.
2. Self-confident B. Interest in money
generation.
3. Profit-oriented C. To succeed, one must
believe in one’s self.
4. Goal-oriented D. Working diligently and
industriously.
5. Persistent E. Being able to listen to
the advice of others.
6. Responsive or open to criticisms F. Obtaining useful
feedback and advice from others.
7. Willing to listen G. Being patient and
strives to achieve the goal.
8. Committed H. Ability to take measured
or calculated risks.
9. Reliable and has integrity I. Being honest, fair and
trustworthy.
10. Risk-taker J. A major priority in the
entrepreneur’s life.
K. Set aside things for
others

Directions: Read and study the situation that describes entrepreneurial

characteristics. Then answer each question
by choose and encircle the letter of your choice.
 Mr. Antonio Cinco opens up his own furniture and sash factory business. He
knows that his personal
entrepreneurial characteristics are insufficient to ensure a successful operation
of the business that he has in mind.
Your answers to the questions below will help in developing his PECs.

1. What PECs must he possess if there are customers who complain about the quality
of his product?
A. Hardworking C. Trustworthy
B. Patience D. Versatile
2. Which of the following is NOT considered as a characteristic of an entrepreneur?
A. Copes with failure C. Opportunity
seeker
B. Dependent D. Persistent
3. If he wants to ensure a profitable business, what characteristic will he
maintain?
A. Commitment C. Goal oriented
Personal Entrepreneurial Competencies (PECs)
-Technology Vocational and Livelihood Track-
 B. Futuristic D. Opportunity
seeker
4. Mr. Cinco follows the advice of a friend to be flexible especially if he intends
to open a furniture and sash factory
business. What PECs has been demonstrated by Mr. Cinco?
A. Open to feedback C. Reliable
B. Persistent D. Self-
confidence

5. He tells his best friend that he has strong will and does not give up to find a
solution to a business problem. What
PEC has been demonstrated by Mr. Cinco?
A. Hard work C. Risk taking
B. Persistence D. Self-
confidence

C. Directions: In your province, interview a successful entrepreneur whose type of

business is related with your field
of specialization. Focus your questions on PECs and other business-related
attributes that helped them become
successful. Analyze the results of the interview and reflect on the similarities
and/or differences. Write your answer
on a separate sheet of paper.

Interview Guide

Name of Proprietor/Practitioner:
___________________________________________________________________
Age: _______________ Number of Years in
Business: _________________
Business Name:
_________________________________________________________________________________
Business Address: ______________________________________________

1. What preparations did you make before you engaged in this type of business or
job?
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________.

2. What special skills and characteristics do you have that are related with your
business or job?
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________.

3. How did you solve business-related problems during the early years of your
business operation?
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________.

4. Did you follow the tips from a successful businessman or practitioner before you
engaged in your business?
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________.

5. What best business practices can you share with aspiring entrepreneurs?
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________.

Personal Entrepreneurial Competencies (PECs)

-Technology Vocational and Livelihood Track-
6. What do you think are the salient characteristics, attributes, lifestyle, skills
and traits that made you successful in
your business or job?
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________.

D. Directions: Gather the needed information from the interview to supply answer/s
to row 1 in the table below,
after which, fill out the second row with your PECs.

Personal
Entrepreneurial Characteristics Attributes Lifestyles
Skills Traits
Competencies

Successful
Entrepreneur in
the province

My PECs

Using the information on the table above, analyze and reflect on the similarities
and differences in your answers.
Write your conclusion on the space provided.

Personal Entrepreneurial
Similarities
Differences
Competencies

Characteristics

Attributes

Lifestyles

Skills

Traits

Conclusion:
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________.

Personal Entrepreneurial Competencies (PECs)

-Technology Vocational and Livelihood Track-
E. Directions: Use the information generated from Interview and prepare an action
plan that indicates alignment of
your PECs to the PECs of a successful entrepreneur in your province.

Expected
Objectives Area Activities Strategies
Time Frame

Outcome

Characteristics

Attributes
To align my PECs
with the PECs of
Lifestyles
a successful
entrepreneur in
my field of
specialization Skills

Traits

F. Directions: Read and study the following questions below.

1. Why is there a need to compare and align one’s PECs with the PECs of a
successful entrepreneur?
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________.

2. How does your action plan help sustain your strong PECs and/or address your
development areas?
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________.

3. What plan of action will you utilize to address your development areas?
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________
___________________________________________________________________________________
____________

Personal Entrepreneurial Competencies (PECs)

-Technology Vocational and Livelihood Track-