University of Science and Technology of Southern Philippines

Alubijid | Cagayan de Oro | Claveria | Jasaan | Oroquieta | Panaon

Lesson
Personal Entrepreneurial
1 Competencies (PECs)

Entrepreneurial Competencies refer to the important characteristics that

should be possessed by an individual in order to perform entrepreneurial functions
effectively. You will learn some of the most important characteristics, attributes,
lifestyle, skills and traits of a successful entrepreneur.

Personal Entrepreneurial Competencies (PECs)

1. Hardworking
This means habitually working diligently for a long period of time. Hardworking
people keep on improving their performance to produce good products and/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.

3. Discipline
Successful entrepreneurs always stick on the plan and fight the temptation to
do what is unimportant.

4. Committed
 University of Science and Technology of Southern Philippines
Alubijid | Cagayan de Oro | Claveria | Jasaan | Oroquieta | Panaon

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.

5. Ability to accept change

Nothing is permanent but change. Change occurs frequently. When you own
a business, you should cope-up and thrive on changes. Capitalize on positive
changes to make your business grow.

6. Creative
An entrepreneur should be creative and innovative to stay in the business and
in order to have an edge over the other competitors.

7. Has the 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.

8. Profit-Oriented
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.

Important Skills of a Successful Entrepreneur

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 goals. A good entrepreneur knows that planning
is an effective skill only when combined with action.
 University of Science and Technology of Southern Philippines
Alubijid | Cagayan de Oro | Claveria | Jasaan | Oroquieta | Panaon

People Skills
It’s a very important skill in order to be successful in any kind of business.
People skills refer to effective and efficient communication and relation to people
working in and out of your business. In 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.

Decision Making
Successful entrepreneurs have the ability to think quickly and to make a wise
decision towards pre-determined set objectives. No one can deny that the ability to
make wise decisions is an important skill that an entrepreneur should possess.
Sound decision should spring out from given facts and information and should be
towards the pre-determined objectives.