Let's Talk About

ENTREPRENEURS

PREPARED BY MS. REYN

LESSON OBJECTIVES
At the end of this lesson,you should be able to;

DEFINE PEC
ENUMERATE THE COMPONENTS OF PEC
ASSESS SAMPLE CASE STUDIES USING PEC
AS AN ASSESSMENT TOOL; AND
GIVE SAMPLE INVENTORIES TO ASSSESS
ONE’S PEC
 MOTIVATION!
WHAT WERE THE QUALITIES THAT MADE THEM
SUCCESSFUL ENTREPRENEURS?
 ENTREPRENEURIAL COMPETENCIES (PEC)
PERSONAL

REFERS TO THE TOTALITY OF THE

PERSONALITY, KNOWLEDGE, AND
OTHER SKILLS THAT A PERSON MUST
POSSESS TO EFFECTIVELY PERFORM
HIS/HER FUNCTIONS AND
RESPONSIBILITIES AS AN
ENTRPRENEUR.
ENTREPRENEURIAL CHARACTERISTICS
are distinguishing traits or qualities that make an
entrepreneur a successful and extraordinary person.

Achivement
cluster

Planning
Cluster

Power
Cluster
Achievement Cluster
OPPORTUNITY SEEKING - The ability of the entrepreneur
to seize a business opportunity, even the situations
where other people see nothing but problems.
COMMITMENT - The ability to accept responsibility to
complete a job for a customer, thus creating a strong
impact on customer loyalty.
PERSISTENCE -The determination to finish a job at any
cost, even in terms of personal sacrifice. This is part of
achieving his/her set goals
Achievement Cluster
RISK TAKING- The entrepreneur is ready to “expect the
unexpected” because he/she is aware of the risks that
go with the business. However, he/she is also prepared
to assess and manage risk and expect earnings based
on the risk taken. In Business, the higher the risk, the
higher the profit or loss.
DEMAND FOR EFFICIENCY AND QUALITY- Refers to
getting things done efficiently and effectively. it
involves doing things that meet the expected
standards of excellence
 PLANNING CLUSTER
GOAL SETTING
Entrepreneurs have a clear vision of the future, and from this
vision, they set clear, realistic, and attainable goals and objectives.

INFORMATIVE SEEKING
Is about using information to make informed decisions and
improve their knowledge of the business

SYSTEMATIC PLANNING & MONITORING

The entrepreneur makes a careful and oderly plan of his/her business
activities and continuously monitors the actual performance of the
business against the desired standards and goals and then makes the
needed decisions to achieve these
 POWER CLUSTER
PERSUASION & NETWORKING

Entrepreneurs can establish linkages with significant people and

convince & influence others, especially customers.

Self-Confidence

This means having a strong belief in oneself to complete a

task or meet the challenges of the business.
ACTIVITY
FIND OUT THE PEC YOU MIGHT POSSESS. RANK THE PEC
CHARACTERISTICS IN ACCORDANCE WITH WHAT YOU THINK
AND FEEL YOU HAVE. RANK THEM FROM 1-10, 10 BEING THE
HIGHEST AND 1 BEING THE LOWEST.

PEC CHARACTERISTICS MY RANK

OPPORTUNITY SEEKING
COMMITMENT TO WORK
PERSISTENCE
RISK-TAKING
DEMAND FOR EFFICIENCY & QUALITY
GOAL SETTING
INFORMATION SEEKING
SYSTEMATIC & MONITORING
PERSUASION & NETWORKING
SELF-CONFIDENCE
 Entrepreneurial Skills
A skill is the ability to use one's knowledge in doing something effectively. It is being able
to execute well what one knows. To cook a delicious dish is a skill brought about by one's
knowledge acquired through readings, observation, and practice.

Classification of Entrepreneurial Skills

Interpersonal Skills - the ability of the entrepreneur in building harmonious relations with
his staff, customers, suppliers, shareholders, investors, and other concerned parties

Leadership and Motivation - the skill in leading others, in delegating responsibilities, in

teamwork, and in encouraging and inspiring workers to follow and be committed to the
vision, mission, and goals of the enterprise
 INTERPERSONAL SKILLS
Communication - the proficiency in communicating one's thoughts,
emotions, and ideas to those concerned

Listening - the ability to listen to both sides of an issue and know how to
listen diligently and show empathy when listening

Negotiation and Networking - the skill to carry out transactions and

establish linkages with investors, customers, employees, and
prospective clients

Ethics - the correct practice of dealing with stakeholders with respect,

integrity, fairness, and truth
 CRITICAL & INNOVATIVE SKILLS
These are skills in which an entrepreneur can easily come up with new and
creative ideas through constant practice and nurturing.

Creative Thinking - It is seeing situations at different perspectives

and coming up with an innovative idea.

Problem-solving and System Thinking - It is a skill in coming up with

sound solutions to problems on hand. Such ability can be acquired
through knowledge, training, and experience.
 CRITICAL & INNOVATIVE SKILLS
Recognizing Opportunities - The entrepreneur sees opportunity in every situation
he/she can easily spot trends, fads, and resources that are related to
consumption, profitability, production, marketing, and the like.
 SKILLS
3. Functional Skills - knowledge and skills related to the efficient and effective
management of the business, which includes, among others:
. the use of information
finance, T echnology; accounting procurement processes;
total quality management; production and logistics; human resource project
management ; and organization and control;
business law. marketing and sales;

4. Practical Skills - This is about being hands-on in the management of the

business. This means that the entrepreneur can perform tasks such as using the
computer and other technologies, setting goals for the company, planning,
organizing, and decision-making.
 ACTIVITY 2
Share pair: Search two entrepreneurs in your community: one who is still
new(2015 above) in the business and the other, a veteran in the business. Analyze
their story to identify their skills based on the classifications discussed above.
Create an Entrepreneur Competencies Portfolio for each of them. The portfolio
can be in tabular form with four columns: Interpersonal Skills, Critical and
Innovative Thinking Skills, Functional Skills, and Practical Skills. Write all the
elements under each skill. Rate each element by drawing 5 stars beside each
element if the skill is excellent, three stars if very good, one star if good, and none
if poor. Write your conclusion for each portfolio at the bottom of the table.
 Entrepreneurial Traits
Traits refer to the inherited and acquired character of a person. These are components of
a person's behavior that describe his/her enduring personal characteristics. Some of
these are already inherent in the person, and some are obtained through formal and
informal training.
Classification of Entrepreneurial Traits

Self-awareness - This is knowing yourself-your strengths and weaknesses, what you know,
what you can do, and what you would like to do in the future.

Self-motivation - Do you have within you the drive to make things happen? What gets you
interested? What keeps you going? Having the drive to expand your knowledge, sharpen
your skills, and improve yourself depends on how intense your urge and your interest are.
 Entrepreneurial Traits

Courage - This is a trait inherent to successful entrepreneurs.Courage means being brave

or fearless. A successful entrepreneur dares to take the risk in business.
Confidence - This is a trait that makes a good impression on other people- employees,
customers, investors, and other stakeholders.
Patience - This is a trait that tests an entrepreneur's tolerance in handling persistent
problems involving personnel, production, marketing, financing, and the like.

Perseverance - This is similar to being patient and tenacious, which means an entrepreneur
can hold fast and strong to his/ her position, especially amid the many problems besetting
the business.
 Entrepreneurial Traits
His/Her Control of Finances - An entrepreneur does not receive a fixed salary like a regular
employee. The income he/ she receives can be higher or lower, depending on the profit of
the business.

His/Her Personal Growth - Adopting the life of an entrepreneur is a crucial decision in life
because it means giving up some personal and family freedomand privileges.
 Entrepreneurial Traits
Hard Work - A hardworking entrepreneur is an industrious person who does not count the
number of hours of work. He/ She works with patience and intensity until the work sees its
completion.

Decisiveness - Decisions in business are made now and then. An entrepreneur must be
knowledgeable and experienced to make the right decisions at the right time with the right
people.
Perseverance - This is similar to being patient and tenacious, which means an entrepreneur
can hold fast and strong to his/ her position, especially amid the many problems besetting
the business.
Integrity - A successful entrepreneur is honest not only to himself/herself but to everyone
related to the business.

Optimism - He/She looks at the bright side of things or situations, even in the midst of the
business being down.
ACTIVITY
answer a self-test below by rating the traits. Write 3 if you feel the trait is strong within
you, 2 if it is moderate, and 1 if you need to improve on it. Take time to analyze each trait
and answer as honestly as you can.
1. I know myself, my strengths, and my weaknesses.
_2. I have a strong desire to succeed in anything I do.
3. love to create and innovate things into something useful.
4.I am willing to take the risk for something I believe in.
5I never stop working on something that needs to be finished.
6 I always look at the bright side of an issue, even it it seems hopeless,
7 can handle myself in times of stress and anxieties.
8I make decisions based on facts and stand to defend that decision.
9I am honest in dealing with friends, associates, and others.
10I can hold fast and strong to what I believe in despite opposition.
 Entrepreneurial Lifestyle
A person's lifestyle is his/her way of life. This includes what he/she does, how he/she
makes use of his/her resources (time, energy, money, skills, knowledge, etc.), the choices
he/she makes, the decisions he/ she arrives at, his/her traits, thoughts, and feelings as
shown in his/her actions or behavior.
Classification of Entrepreneurial Lifestyle

His/Her Passion - If he/she is passionate about becoming an entrepreneur, then he/she will
exercise all means of putting up his/her own business.

His/Her Time - As an entrepreneur, he/she can make his/ her schedule depending on the
demand of the business. A dedicated entrepreneur works on a flexible schedule and moves
away from the traditional 8-5 working hours.
 Entrepreneurial Lifestyle
Classification of Entrepreneurial Lifestyle

His/Her control of finances - - An entrepreneur does not receive a fixed salary like
a regular employee. The income he/ she receives can be higher or lower,
depending on the profit of the business.

His/Her Personal Growth - Adopting the life of an entrepreneur is a crucial decision in life
because it means giving up some personal and family freedom and privileges. It also
involves spending more time on the job and scrimping on money when the business is on
the verge of bankruptcy.
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