The document discusses personal entrepreneurial competencies. It defines entrepreneurial competencies as the key characteristics successful entrepreneurs possess to effectively perform entrepreneurial functions. It lists some common traits of entrepreneurs like being hard workers, risk takers, and fast learners. The document also discusses the rewards and risks of entrepreneurship. It identifies the main motivations for entrepreneurs as the need for achievement, planning, and power. Finally, it outlines clusters of competencies like persistence, opportunity recognition, and goal setting that successful entrepreneurs typically demonstrate.

1. Personal
Entrepreneurial
Competencies

2. PERSONAL ENTREPRENEURIAL
COMPETENCIES (PECs)
The term "ENTREPRENEURIAL
COMPETENCIES" refers to the key
characteristics that should be possessed
by successful entrepreneurs in order to
perform entrepreneurial functions
effectively

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

4. 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

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

6.  The Entrepreneurial Personality:
 Classic entrepreneur: Bill Gates, Sam
Walton
 Loner, socially isolated
 Hard worker
 Fast learner
 Risk-taker seeking wealth

7. 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.

8. 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

9. The need for achievement (n Ach)
 Achievement motive - drive to do well, strive for
excellence and overcome challenges and obstacles
in the pursuit of goal.
The need for Power (n Pow)
 Power motive - drive to control, influence and to have
impact on others and change the situations.
The need for affiliation (n Aff)
 Affiliation motive - drive to establish, maintain or
renew affective relationship with others.
Entrepreneurial Motivation

10. 3 Clusters
 Achievement
 Planning
 Power

11. 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

12. 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

13. 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

14. 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

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

16. Simple Creativity Test

17. How do you put a giraffe in the
fridge?
 Correct answer:
Open the fridge,
put the giraffe
inside, close the
fridge
 This question
checks if you tend
to make simple
things
complicated.

18. How do you put an elephant in the
fridge?
 Wrong answer:
Open the fridge,
put the elephant
inside, close the
fridge.
Correct answer:
Open the fridge,
remove the giraffe,
put the elephant
inside, close the
fridge.
 This question
checks your ability
to consider
implications

19. The Lion King organized a meeting for the
animals: all the animals are present but one.
Which one?
 Correct answer: The
elephant. The
elephant is in the
fridge
 This question
checks your memory

20. You have to cross a river, but it is populated by
alligators. What are you going to do?
 Correct answer: You
swim across the
river because all the
alligators are
attending the
meeting.

21. What makes an entrepreneur run a successful
business?
Is it -SKILL? EFFORT? LUCK?
Entrepreneurial success = behaviours
(effort+skill+luck)
PEOPLE CREATE OUTSTANDING PERFORMANCE
through
Going beyond the norm
Teamwork
CREATIVITY - INFLUENCING -PERSISTANCE -RESULTS