This document discusses entrepreneurship and the personal competencies needed to be a successful entrepreneur. It defines entrepreneurship as creatively converting ideas into goods and services for profit and to improve quality of life. Entrepreneurs have the ability to analyze and evaluate business opportunities. The rewards of entrepreneurship include making money, being your own boss, creativity, overcoming challenges, helping others, and building a legacy. Risks include business failure, unpredictable conditions, and long work hours. Successful entrepreneurs demonstrate competencies in achievement like persistence, seizing opportunities, commitment, risk-taking, and quality/efficiency. They also have strong planning skills like goal-setting, information-seeking, and systematic planning. Finally, power competencies include persu

1. Personal
Entrepreneurial
Competencies

2. Question
What do you want to be
in the future?

3. 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

4. Entrepreneur
People who have the ability
to analyze and evaluate
business opportunities

5. 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.

6. 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

7. 3 Clusters
 Achievement
 Planning
 Power

8. 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

9. 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

10. 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

11. 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

12. Assignment
 Short bond
 Give one successful entrepreneur in the
Philippines
 Search for his/her profile
 Give details of his/her achievements