2. ENTREPRENEUR
an individual who organizes and operates a
business/businesses
They take great deal of financial risks to make
their business succeed
commonly seen as an innovator, a source of
new ideas, goods, services and
business/procedures
3. ENTREPRENEURSHIP
is an act of creating a
business or businesses
while building and
scaling it to generate
a profit
both an art and
science of converting
business ideas into
marketable products
or services to improve
the quality of living
4. COMPETENCY
breaking down into specific skills or tasks,
each skill or task can be described in terms
of specific behaviors and different levels of
proficiency.
the risk and success of a business and the
standard needed to carry on a business
successfully depends on the competency of
an entrepreneur
6. McClelland and McBer
able to identify 10 behavioral patterns
grouped into three general clusters:
the achievement, planning and power
clusters
7. The entrepreneurial qualities, more
known as PECs
1. Opportunity Seeking
2. Persistence
3. Commitment to Work
Contract
4. Risk-taking
5. Demand for Efficiency and
Quality
6. Goal Setting
7. Information Seeking
8. Systematic Planning and
Monitoring
9. Persuasion and
Networking
10. Self-Confidence
8. ACHIEVEMENT CLUSTER
a PEC cluster that entrepreneurs
possessed
these are people who accomplish
things, they perform tasks excellently
not for prestige or money but for the
sake of excellence
9. OPPORTUNITY SEEKING
being active in finding openings in the
environment which can be used in
different ways to start a business, to
create a new market or to improve
business operations
what enables an entrepreneur to act
and grab new business opportunities
even in the most problematic and
hopeless situations
10. PERSISTENCE
is doing something continuously even
though other people say that you will not
succeed or that you are just wasting your
time and effort
doing something over and over again until
you get what you think you deserve
It means standing up straight and not giving
up even during the hardest times when you
are trying to do something new or
something difficult
11. COMMITMENT TO WORK CONTRACT
is the state of giving much time and attention to
something because you believe it is right and
important
Commitment comes with a personal value, it is
what a person truly believes and considered very
important
In terms of being committed to work, once a
person accepts a job, he should agree to take full
responsibility and have the job done efficiently to
create a delighted customer
Commitment is being able to meet the deadline
12. RISK-TAKING
means taking the
chances to do something
which is out of your
comfort zone
also imply doing
something that can
result in anything
unpleasant or dangerous
13. The three kinds of risk-taking behaviors:
High risk-taking is doing something
risky without even checking what are
the possible results of such action
and without calculating the probable
losses that may be incurred after the
action has been taken
14. The three kinds of risk-taking behaviors:
Low risk-taking is almost as not
taking risk or avoiding anything
difficult or anything which may
have unpleasant or dangerous
results.
15. The three kinds of risk-taking behaviors:
Moderate risk-taking is carefully
calculating all the chances before
doing something difficult or
something which may have
unpleasant or dangerous results,
thus reduces possible negative
results by making the most out of
the positive possibilities.
16. DEMAND FOR EFFICIENCY and QUALITY
A successful entrepreneur demands
quality standards and cannot stand a
bad performance from people he is
working with.
Quality is the standard that
customers seek when buying a
product or receiving a service
Efficiency is the ability of an
entrepreneur and its staffs to work
well without error or without wasting
time, money and energy.
17. PLANNING CLUSTER
a PEC cluster where entrepreneurs do
not plunge into a business on the basis
of inspiration but rather as the result
of deliberate goalsetting tireless
information-seeking, and systematic
planning and monitoring
18. INFORMATION SEEKING
the behavior of gathering information from
relevant sources
An entrepreneur must also be open to the idea
of expert consultation for business and
technical assistance
Entrepreneurs often deal with a variety of
changes, take notes on any management
weaknesses and try to find immediate feedback
on their performance
19. GOAL ORIENTED
knows how to set specific,
measurable, attainable,
realistic and time-bound
(SMART) goals
plans every action and
carefully makes decisions
based on where he wants
to go
competitive in a positive
way and loves the idea of
winning through hard work
and perseverance
20. SYSTEMATIC PLANNING AND MONITORING
Entrepreneurs who develop and use
logical, step-by-step plans to reach
their goals
He plans by breaking large tasks down
into small one and puts time limits
against them
They monitor progress towards goals
and to alter strategies when necessary.
21. POWER CLUSTER
a PEC cluster where entrepreneurs’
personal motto is “I can”
he thinks that he can achieve things
he can convince people to his way of
thinking
he can influence the outcome of
events
22. PERSUASION AND
NETWORKING
Entrepreneurs know how to use
the right strategies to influence
or persuade other people
Something that helps you
connect with the people around
you
They’re respected, well-liked
and able to talk about their
accomplishments, goals and
ideas in a way that gets those
around them excited and
passionate as well
23. SELF-CONFIDENCE
a person who have a strong
faith in his ability inspite
of the problems he will be
encountered along the way
He trusts his own skills and
embraces his own
imperfections
His self-awareness and
faith in his personal ability
makes it easier for him to
complete any task or
activity
24. A - True or False
1. Entrepreneurs can overlook the need for efficiency
and quality in their products or services.
2. Entrepreneurs should actively seek and identify
potential opportunities in the market.
3. Persistence primarily involves blindly sticking to
one's initial business plan, even when it's failing.
4. Opportunities for entrepreneurship are always easy
to find and readily available.
5. Efficiency and quality are less important in
entrepreneurship compared to making a profit.
25. A - True or False
6. In entrepreneurship, setting clear and specific goals is
unnecessary, and entrepreneurs can operate without them.
7. An entrepreneur should always make decisions based solely on
their intuition and gut feeling, without seeking external
information.
8. Once an entrepreneurial venture begins, there's no need for
systematic planning and monitoring because it can hinder
creativity.
9. Entrepreneurs can succeed without the ability to persuade
others or build a network of connections.
10. Overconfidence is a positive trait in entrepreneurship, as it
can help entrepreneurs succeed even in the absence of necessary
skills and knowledge.
26. B - Identification
1. This skill involves the ability to recognize opportunities
and act upon them, often by creating new products or
services or finding innovative ways to meet market
demands.
2. This skill is characterized by the belief in one's abilities,
the courage to take risks to pursue entrepreneurial
ventures.
3. It is the ability to effectively communicate ideas,
negotiate, and build relationships to advance one's
business objectives.
4. This skill involves carefully planning and managing
resources, time, and activities to achieve specific
objectives.
5. It refers to the capacity to continue working towards a
goal or in the face of challenges and setbacks.
27. 6. This skill represents a strong dedication to one's work
or business and a willingness to invest time and effort
into its success.
7. It is the willingness to take calculated risks in
entrepreneurship, which may involve financial,
personal, or professional risks.
8. This skill involves having high standards for the
quality and efficiency of one's products or services to
satisfy customers and stay competitive.
9. An individual who organizes and operates a
business/businesses
10. Refers to the attitude and behavior of people in
business/businesses
