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TLE entepreneur


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TLE entepreneur

  1. 1. LESSON 1 – Competencies required of an Effective Entreprenuer PERSONAL ENTREPRENEURIAL CHARACTERISTICS (PECs) has three cluster: 1. ACHIEVEMENT CLUSTER  Opportunity Seeking - sees and acts on new business opportunities
  2. 2.  Persistence - a persistence individual takes repeated or different actions to overcome obstacles to his/her goals - stick to his judgment in the face of opposition or early lack of success - makes personal sacrifices
  3. 3.  Commitment to the Work Contract - should accept full responsibility - pitch in for others to finish the job - express concern towards the customer  Demand for quality and efficiency - do things that meet existing standards of excellence - strive to do things better, faster and cheaper
  4. 4.  Risk Taking - take moderate risks - state a preference for situations that involve moderate risks 2. PLANNING CLUSTER  Goal setting - should always have clear and specific objective –- a long-term and short term objective --
  5. 5. - they are guided by the word SMART (specific, measurable, attainable, realistic and time-bound) Information Seeking - entrepreneurs do not stop seeking information for their businesses for improvement of the company - information-seeking on clients, supplies, and competitors
  6. 6.  Systematic Planning & Monitoring - developing & using logical, step by step plans, evaluate, monitor progress & switch to alternative strategies WAYS THAT ARE USED BY THE ENTREPRENEURS TO EXERCISE SYSTEMATIC PLANNING & MONITORING  learn from mistakes  constantly review performance  Concentrate on present situations
  7. 7.  go back & review goals If still unproductive, accept changes, but find other means to achieve goals Tries to change environment if the environment is the cause of the low standard performance
  8. 8. 3. POWER CLUSTER  Self-confidence - possess a strong believe in their abilities - express confidence in their own ability - they believe their business to be successful and profitable  Persuasion & Networking - should use deliberate strategies to influence others -use their business & personal contact to accomplish their objectives
  9. 9. LESSON 2 – Strength & Weaknesses of an Filipino Entrepreneur STRENGTH WEAKNESSES 1. Always sets his/her own realistic goals Sets unrealistic goals 2. Self- reliant Depends on other people for attainment of goals 3. Focuses on positive objectives Focuses on goals which call to stop or avoid doing things 4. Periodically reviews performances Does not keep track in progress
  10. 10. STRENGTH WEAKNESSES 5. Learns form own mistakes Does not improve on areas where he/she failed 6. Accepts changes & uses them to motivate self Is afraid of changes 7. Takes care of himself physically Is unmindful of physical appearance 8. Sticks to schedule Does not avoid or minimize interruptions 9. Is self-motivated Depends on outside forces to be motivated 10. Is action-oriented, concentrates on what has already been done or accomplished Concentrates on what is still to be done
  11. 11. STRENGTH WEAKNESSES 11. Manages backtracking Keeps on going back & forth on the same path 12. Finishes work once started Does not complete most often any given task 13. Reflects on time management regularly Is not conscious of time wasted 14. Associates with other entrepreneurs; patterns lifestyle, values, & habits after successful entrepreneurs Does not develop the habit of working well with people
  12. 12. LESSON 3 – Assessing Oneself as a Potential Entrepreneur FUTURE ENTREPRENEURS MAY BE GUIDED BY THE FF:CHECKLIST…….. 1. Do you enjoy challenging task? 2. Is your academic standing something to be proud of? 3. Did you receive good grades for your school behavior? 4. Do you often feel that you can do a better job than others?
  13. 13. 5. Are you active in community affairs? 6. Can you make good decisions? 7. Are you willing to change your negative habits? 8. Did you have any experience in selling? 9. Do you have relatives or associates who are in business?
  14. 14. LESSON 4- Problems Faced By Entrepreneurs 1. Financial problems - lifeblood of business is money - it is a must to have your own money before staring a business 2. Managerial problems - lack of management skills of the entrepreneur - should think well before giving instructions to avoid poor management
  15. 15. 3. Marketing problems - some of these are problems with competitors, taxes & advertising costs 4. Over-regulation & taxes - amount of income for reinvestment is reduced by corporate income taxes 5. Problems relating to facilities - production & sales are solved by problems of power supply, transportation & communication
  16. 16. Creativity & Innovation in solving practical problems faced by Entrepreneurs  Human mind - considered as the most outstanding machine because it creates & innovates Creativity - ability to develop an original idea  Innovation - introducing a new idea or method in an already existing product or concept as a way of enhancing & improving it
  17. 17. The following qualities are possessed by a creative & innovative entrepreneur:  results-oriented  aware of people’s needs  involve others in decision-making  risk-taker  is not satisfied with the usual way of doing things  questions & innovates business practices
  18. 18. LESSON 5 – Management as an important factor in Entrepreneurial Activity  MANAGEMENT - is the process of acquiring & using human, fiscal & material resources effectively to produce goods & services needed by people
  19. 19. FOUR BASIC MANAGERIAL TASKS OF AN ENTREPRENEUR  Planning - goal setting, related decisions about what, who, when & how - has short & long- range plans w/c requires decisions for future action Organizing - delegation of work & functions to personnel, units or departments. - Each personnel or group has well-defined duties, functions & accountability
  20. 20.  Directing - business plan is implemented by the entrepreneur - he is the director-monitoring the production of goods & services - guides the work activities - sees to it that standards in the production are followed  Controlling - this is the evaluation aspects of entrepreneurship - checking the quality of goods & services
  21. 21. LESSON 6 – Applying management theories to practical situations CLASSICAL MANAGEMENT THEORIES A. Classical Scientific - innovated by Frederick Winslow Taylor - it is concerned on how to increase production efficiency to lower costs, raise profits & increase workers’ pay --- through increased production - Gantt Chart was invented by Henry L. Gantt - used for programming production & gave importance to the role of workers
  22. 22. B. Classical Administration - proponent of this theory is Henry Layol - emphasis is more on management principles than on work methods  BEHAVIORAL MANAGEMENT THEORY - Robert Owens states that quality & quantity of work are affected by conditions workers - workers’ morale improved resulting in improved production & reduction of operational cost after many years
  23. 23.  CONTINGENCY MANAGEMENT THEORY - solves by analyzing, listing circumstances prevailing at the time - identifying available causes of action -identifying the consequences of each cause of action - choosing the bets solution  QUANTITATIVE MANAGEMENT THEORY - recommends the use of mathematical approaches to management problems
  24. 24.  SYSTEM MANAGEMENT THEORY - emphasizes system as a group of interrelated parts operating as a whole to achieve desired goals and to function according to design.