The document discusses entrepreneurial core competencies. It defines entrepreneurial competencies as the combination of personality traits, skills, and knowledge that entrepreneurs need to effectively perform their functions and responsibilities. It then explores the different types of competencies, including functional, emotional, cross-functional, and six core areas - opportunity competency, relationship competency, conceptual competency, organizing competency, strategic competency, and commitment competency. Finally, it describes eight factors that can affect an entrepreneur's decision-making process: scientific/rational method, intuition, affect infusion, attribution style, counterfactual thinking, overconfidence, knowing style, and creative style.

1. Is it bad to drink coffee with milk?

2. Do you believe
emotions have a
purpose?
Fear
freeze, run
Anxiety
learn more, increase ability to cope
Disgust
recoil, get away from
Anger/ Hatred
control, neutralize, devalue, punish,
warn, threaten, intimidate, avenge
annihilate
Shame
hide, cover-up
Source: Steven Stosny, Psychologytoday.com

3. Which one will you hire for the job?
a person with great skills
or
a person with character

4. OBJECTIVES
1. Define “entrepreneurial competencies”
2. Explore the different entrepreneurial core
competencies
3. Describe the factors that affect the
entrepreneurial decision-making process

5. CORE COMPETENCIES
ENTREP. INTRODUCTION PART3
FRANCIZ M. PANGANIBAN
SUBJECT TEACHER

6. ENTREPRENEURIAL
CORE COMPETENCIES

7. What is
“ENTREPRENEURIAL COMPETENCIES”?
 The sum total of the personality, skills
and knowledge that the entrepreneur
possesses which are necessary to effectively
perform their functions and
responsibilities

8. ENTREPRENEURIAL
CORE COMPETENCIES
PORTFOLIO
an index of skills & knowledge necessary to effectively perform
entrepreneurial functions and responsibilities

9. FUNCTIONAL COMPETENCIES
 Accountancy
 Finance
 Marketing
 Human Resource Management
 Organization
 Operations
 Strategy
those skills, organized
into clusters,
regarding the main
areas of managerial
knowledge

10. EMOTIONAL COMPETENCIES
 Self-awareness
 Self-management
 Social awareness
 Relationship management
 Cognitive competencies
are those specific
behaviors desired
for the effective
performance of
entrepreneurial
duties

11. CROSS-FUNCTIONAL COMPETENCIES
Goal and action management
(initiative, planning, information gathering,
result-oriented)
People management
 (persuasiveness, emphathy, negotiation, etc.)
Analytical reasoning
 (theory building, conceptual thinking, pattern recognition,
visioning, etc.)

12. Functional
Emotional
Cross-functional

13. 6 AREAS
ENTREPRENEURIAL COMPETENCIES

14. OP_ _ _ T_ _ I _ _

15. 1. OPPORTUNITY COMPETENCY
related to recognizing and developing
market opportunities through various
means

16. RE_ _ T _ _ _ _ _ _ P

17. 2. RELATIONSHIP COMPETENCY
 related to person to person or individual to
grouped based interactions, i.e., building a
context of cooperation and trust, using contacts
and connections, persuasive ability,
communication and interpersonal skill.

18. CO _ _ _ _ _ _ _ L

19. 3. CONCEPTUAL COMPETENCY
related to different conceptual abilities
which are reflected in the behaviors of
the entrepreneur, i.e., decision skills,
absorbing and understanding complex
information, risk-taking and
innovativeness

20. OR_ _ _ _ _ _ _ G

21. 4. ORGANIZING COMPETENCY
 related to the organization of different
internal and external human, physical, financial
and technological resources, including team
building, leading employees, training and
controlling

22. ST_ _ _ _ _ C

23. 5. STRATEGIC COMPETENCY
related to setting, evaluating and
implementing the strategies of
the firm

24. CO_ _ _ _ M _ _ T

25. 6.COMMITMENT COMPETENCY
competencies that drive the
entrepreneur to move ahead
with the business.

26.  Strategic Competency
 Commitment Competency
 Conceptual Competency
 Opportunity Competency
 Organizing Competency
 Relationship Competency

27. In your personal life, where do you
base your decisions?

28. FACTORS THAT AFFECT THE
ENTREPRENEURIAL DECISION-MAKING
PROCESS

29. 1. Scientific/Rational Method
involves the use of standard six-step process to
arrive at a decision.
1. Identify the problem
2. Gather data
3. Analyze data
4. Formulate alternative solutions
5. Select the best alternative
6. Implement the decision
FACTORS THAT AFFECT THE ENTREPRENEURIAL
DECISION-MAKING PROCESS

30. 2. Use of INTUITION
this pertains to the use of
“gut-feel” to arrive at a
decision
FACTORS THAT AFFECT THE ENTREPRENEURIAL
DECISION-MAKING PROCESS

31. 3. AFFECT INFUSION
 this suggests that entrepreneurs’ current
moods influence judgments or
decisions by influencing the ease with
which information consistent with positive or
negative moods can be brought to mind.
(*Decisions are affected by mood or feelings)
FACTORS THAT AFFECT THE ENTREPRENEURIAL
DECISION-MAKING PROCESS

32. 4. Attribution style
 this refers to the entrepreneurs’ self-serving bias
Strong tendency on the part of most entrepreneurs to
attribute positive outcomes to internal causes, i.e., skill,
talent, good judgment or hard work
Corresponding tendency of the entrepreneurs to
attribute negative outcomes to external cause,
i.e., high inflation rate, obsolete machine, unavailability of raw
materials or unreliable suppliers.
FACTORS THAT AFFECT THE ENTREPRENEURIAL
DECISION-MAKING PROCESS

33. 5. Counterfactual thinking
 this is understood as an “afterthought” in
decision making in which the procedures
followed to perform the task are discussed and
various alternatives that could have been
followed are considered.”
 tendency to create possible alternatives
to life events that have already
occurred; something that is contrary to what
actually happened
FACTORS THAT AFFECT THE ENTREPRENEURIAL
DECISION-MAKING PROCESS

34. 6. Over-confidence
 this refers to the tendency of the
entrepreneurs to think that they
know more than what they
really know when they make the
decision
FACTORS THAT AFFECT THE ENTREPRENEURIAL
DECISION-MAKING PROCESS

35. 7. Knowing style
 this is the combination of
‘analytical and conceptual
thinking”, where the
entrepreneurs look for facts
and data before they make
decisions.
FACTORS THAT AFFECT THE ENTREPRENEURIAL
DECISION-MAKING PROCESS

36. 8. Creative style
 this is characterized by “holistic
and conceptual thinking,
entrepreneurs who uses this style tend to
be creative and enjoy
experimentation before making
decisions.
FACTORS THAT AFFECT THE ENTREPRENEURIAL
DECISION-MAKING PROCESS

37. 8 Factors that Affect Decision-Making
1. Attribution Style
2. Scientific/Rational Method
3. Intuition
4. Affect Infusion
5. Creative Style
6. Overconfidence
7. Counter-factual thinking
8. Knowing Style
ASIACOCK

38. What competency do you thinks is a
must-have for entrepreneurial innovations?

39. CREATIVE THINKING
Regardless of definition of success, there are a great
number of common characteristics that are shared by
successful entrepreneurs.
Entrepreneurial process shows that
creative thinking is a must have skill of an
entrepreneur for the creation of new ideas.

40. Post Lesson Activity
Describe the kind of factor that affected decision-making in
each situation.
1. Cardo immediately rejected the offer of a new supplier because he
knew that the supply manager was a long time rival.
2. Aliana decided to sell her company’s computer system because she
thinks this is causing the poor performance of her company.
3. Teddy decided not yet to pursue the poultry business because he
first wanted to see valid information or data if this type of business
would succeed or not.
4. Flora has witnessed how her product’s sales declined in the past due
to the change in price. Now she wanted to know if the sales will
boost this time by preparing three different product strategies.

41. Answers: Post Lesson Activity
1. Affect infusion
2. Attribution Style
3. Knowing Style
4. Counter Factual