TLE reviewer

ENTREPRENEURIAL COMPETENCIES

LAU MAN and CHAN- entrepreneurial competencies is the total ability of the entrepreneur to perform a
job rate successfully

CAMUFFO, GERIL and GUBITTA- entrepreneurial competencies are FUNCTIONAL, EMOTIAL, CROSS-
FUNCTIONAL

FUNCTIONAL COMPETENCIES- the skills, organized into clusters, regarding the main ideas of managerial.

EMOTIONAL COMPETENCIES- specific behaviors qualities characteristics of an entrepreneur

CROSS-FUNCTIONAL COMPETENCIES- are those broad overall skills

- ACTION and MANAGEMENT

- PEOPLE MANAGEMENT or known as HRM (human resource management)
- ANALYTICAL REASONING SKILLS
- RELATIONSHIP MANAGEMENT
- SELF- MANGEMENT
- SELF- AWARENESS
- SOCIAL AWARENESS

TYPES OF BUSINESS AND ORGANIZATION

BUSINESS- an organization or enterprising entity

MANAGER- person responsible for controlling all

CHARACTERISICS OF BUSINESS

- CHANGE GOVERNMENT CONTROL

- COMPETITION INFORMATION
- TECHNOLOGY GLOBALIZATION
- DIVERSIFICATION LARGE SIZE

THREE BASIC PATTERN OF BUSINESS OWNERSHIP

1. SOLO PROPRIETORSHIP or known as SINGLE PROPRIETORSHIP- it’s the simplest form of business
and the easiest to register. Owned by an individual who has full control
2. PARTNERSHIP- consists of two or more persons who bind themselves to contribute money
3. CORPORATION- must be created by or composed of at least 5 natural person called
“INCORPORATORS”
A CORPORATION is owned by SHAREHOLDERS- represented by Shares of Stock
A CORPORATION has a BOARD OF DIRECTORS- a group of people elected by the shareholders to
oversee the corporation’s management

COMPETENCY AREAS OF ENTREPRENEURIAL COMPETENCIES

1. OPPORTUNITY COMPETENCIES- Developing market opportunities through various means

 2. RELATIONSHIP COMPETENCIES- Group based interactions
3. CONCEPTUAL COMPETENCIES- Different conceptual abilities
4. ORGANIZING COMPETENCIES- The organizations of different internal
5. STRATEGIC COMPETENCIES- Setting, evaluating and implementing
6. COMMITMENT COMPETENCIES- drive the entrepreneur to move ahead

MANAGEMENT- The Process of planning and controlling the efforts of organization

FUNCTIONS OF MANGEMENT

A. PLANNING- the ongoing process of developing the business mission

B. ORGANIZING-establishing the internal organizational
C. STAFFING- keeping filled with qualified people
D. DIRECTING- Influencing people’s behavior
E. CONTROLLING- a four-step process of establishing performance standards

TYPES OF PLANNING

1. OPERATIONAL PLANNING- seeks to convert the existing information on strategic

2. CORPORATE PLANNING- a plan covering any organizational entity
3. STRATEGIC PLANNING- The formulation of coordinated course of actions
4. BUSINESS PLANNING- translates strategic goals into deliverables
5. PROJECT PLANNING- Aims to plan and control the complex