Personal

Entrepreneurial
Competencies
 PERSONAL ENTREPRENEURIAL
COMPETENCIES (PECs)
 
The term "ENTREPRENEURIAL
COMPETENCIES" refers to the key
characteristics that should be possessed
by successful entrepreneurs in order to
perform entrepreneurial functions
effectively
 Question

What do you want to be

in the future?
Entrepreneurship
 Process of creatively
converting ideas into goods
and services which can be
marked to obtain profit and
to contribute in improving the
people’s quality of life
Entrepreneur
 People who have the ability
to analyze and evaluate
business opportunities
 The Entrepreneurial Personality:
 Classic entrepreneur:
entrepreneur Bill Gates, Sam
Walton
 Loner, socially isolated
 Hard worker
 Fast learner
 Risk-taker seeking wealth
Rewards of Going into
Business or Entrepreneurship
1. Having unlimited opportunity to make
money.
2. Being your own boss.
3. Tapping your creativity.
4. Overcoming challenges and finding
fulfillment.
5. Helping others.
6. Building an entrepreneurial legacy.
Risks of Going into Business
or Entrepreneurship
1. Possibility of Failure
2. Unpredictable business conditions
3. Long hours of work
4. Unwanted or unexpected responsibilities
 Entrepreneurial Motivation
The need for achievement (n Ach)
 Achievement motive - drive to do well, strive for
excellence and overcome challenges and obstacles
in the pursuit of goal.
The need for Power (n Pow)
 Power motive - drive to control, influence and to have
impact on others and change the situations.
The need for affiliation (n Aff)
 Affiliation motive - drive to establish, maintain or
renew affective relationship with others.
 Let’s test our creativity!
Think and write down all the functions you can
imagine for the following:
 A fallen tree trunk
 An empty box of  An empty tin can
tissue paper  A pile of old
 A paper plate newspaper
 An old coat hanger  A box of fabric
 An obsessively swatches/scraps
organized (retaso)
classmate  A box of worn out
 A computer whiz nylon stockings
friend
3 Clusters
 Achievement
 Planning
 Power
Achievement Cluster
1. Persistence – does not give up easily
 Makes sacrifices
 Takes repeated action to solve problems
 Not overwhelmed by obstacles and barriers
 Maintains positive outlook
2. Seizing Opportunity- takes advantage of all
business opportunities available
 You are after new advances to satisfy the
consumers
3. Commitment – accepts full responsibility for
problems encountered
 Helps employees to get the job done
 seeks to satisfy the customer
4. Risk Taking –prefers situations involving moderate
risks
5. Concern for quality and efficiency-always strives
to raise standards
 Aims excellence
 Strives to do things better, faster, cheaper
Planning Cluster
1. Goal Setting –sets clear long term goals
2. Information seeking – personally seeks
information on clients, suppliers and
competitors
 Seeks expert for business and technical advice
3. Systematic Planning and Monitoring –
develop logical step-by step plan to reach
goal
 Works into alternatives and weighs them
 Monitors and shifts alternative strategies when
necessary to achieve goals
Power Cluster
1. Persuasion and networking – uses
business and personal contact to
accomplish objectives
 Employs deliberate strategies to influence or
persuade others
2. Self-confidence – believes in ones self
 Expresses confidence in own ability to
complete difficult task or challenges
Assignment
 Short bond
 Give one successful entrepreneur in the
Philippines
 Search for his/her profile
 Give details of his/her achievements
Simple Creativity Test
How do you put a giraffe in the
fridge?
 Correct answer:  This question
Open the fridge, checks if you tend
put the giraffe to make simple
inside, close the things
fridge complicated.
How do you put an elephant in the
fridge?
 Wrong answer:  This question
Open the fridge, checks your ability
put the elephant to consider
inside, close the implications
fridge.
Correct answer:
Open the fridge,
remove the giraffe,
put the elephant
inside, close the
fridge.
 The Lion King organized a meeting for the
animals: all the animals are present but one.
Which one?
 Correct answer: The  This question
elephant. The checks your memory
elephant is in the
fridge
 You have to cross a river, but it is populated by
alligators. What are you going to do?

 Correct answer: You

swim across the
river because all the
alligators are
attending the
meeting.
 What makes an entrepreneur run a successful
business?

Is it -SKILL? EFFORT? LUCK?

PEOPLE CREATE OUTSTANDING PERFORMANCE

through
Going beyond the norm
Teamwork
CREATIVITY - INFLUENCING -PERSISTANCE -RESULTS

Entrepreneurial success = behaviours

(effort+skill+luck)