Personal Entrepreneurial Competencies (PEC) PDF

Personal Entrepreneurial Competencies (PEC) Computer Systems Servicing  Priming Activity “Puzzle for the Smart People” O Group yourselves and do the activity given O Read the direction first. How can you apply this quotation in establishing a business related to computer sys...

Personal Entrepreneurial Competencies (PEC) Computer Systems Servicing  Priming Activity “Puzzle for the Smart People” O Group yourselves and do the activity given O Read the direction first. How can you apply this quotation in establishing a business related to computer systems servicing? Have you ever thought running your own business? Entrepreneurship has brought great success to some, but it's not a career path for all. Do you think you can handle the stress and hard work that go with running a small business enterprise? The key to succeed in a small business enterprise is your entrepreneurial ability to produce the desired results.  Before embarking on your first business, it's worth spending some time evaluating your own preparedness for entrepreneurship. Try to examine your own personality and compare it with the Personal Entrepreneurial Competencies (PECs) of a successful entrepreneur. Ask yourself if you are ready to enter into the world of business. If your answer is yes, take this reminder: “Successful entrepreneurs continuously develop and improve their PECs”. Learning Objectives O Compare one’s PECs with those of a practitioner/entrepreneur. O Align one’s PECs with those of a practitioner/entrepreneur. O Asses one’s PECs. O Assess practitioner’s PECs.  Let’s do this … Computer Systems Servicing - PEC  Column A Column B 1. Hardworking a. Ability to set realistic targets. 2. Self-confident b. Interest in money generation. 3. Profit-Oriented c. To succeed, one must believe in 4. Goal-Oriented one’s self. 5. Persistent d. Working diligently and industriously. 6. Responds to e. Being able to listen to the advice of feedback others. 7. Willing to listen f. Obtaining useful feedback and advice 8. Committed from others. 9. Reliable and has g. Being patient and strives to achieve integrity the goal. 10.Risk-taker h. Ability to take measured or calculated risks. Let’s dig deeper… Computer Systems Servicing - PEC  Analysis O What have you understand on the video presented? O How could you relate the personal entrepreneurial competencies on the theme of the video? O Why is there a need to assess ones personal characteristics, attributes, lifestyles, skills and traits?  Analysis O What are the personal entrepreneurial competencies of a successful entrepreneur? O Why is it necessary to compare ones personal characteristics, attributes, lifestyles, skills and traits to the personal entrepreneurial competencies of a successful entrepreneur? O How do you relate your PECs to the PECs of a successful entrepreneur? What do I need to know? Computer Systems Servicing - PEC  What is entrepreneurship? Entrepreneurship is both the study of how new businesses are created as well as the actual process of starting a new business.  What is an entrepreneur? OAn entrepreneur is a starter. OAn entrepreneur is the driver. OAn entrepreneur is accountable and responsible.  An entrepreneur is a starter. An entrepreneur is an initiator, a challenger and a driver. Someone that creates something new, either an initiative, a business or a company. He or she is the beginning (and sometimes the end) of a venture, project or activity. The entrepreneur might not be the ideator, but he or she is definitely the one that decides to make that idea a reality.  An entrepreneur is the driver. The entrepreneur is the person in charge, the leader and the person to look to for leadership. He or she is the one that pushes forward and inspires a team to follow. The entrepreneur is the one that sits in the driver’s seat, and has the ability to change direction, accelerate, slow down or even stop a venture.  An entrepreneur is accountable and responsible. The entrepreneur is the ultimate responsible for the destiny of its venture, which can be a company, a project, or any other endeavor. The entrepreneur is the one that has the highest stakes at the venture, thus the one that needs to be empowered to fully direct the endeavor. What are the traits/skills that an entrepreneur must have? Please watch this…   Fundamental characteristics of an Entrepreneur 1. Hardworking O If you are determined to run your own business, you must concentrate on your work either as a producer or a seller. The success of your business depends on how much time and effort you will spend on it. 2. Self - Confidence O You must have a strong faith in your ability despite the problems that you will encounter along the way.  Fundamental characteristics of an Entrepreneur 3. Future - Oriented O Once a person enters in a line of business, you must understand that you are in a non-stop contract that an entrepreneur should understand. It may take several years to build up a business to a reasonable standard. The goal for most successful business people is to build a secure job and stable income for themselves based on their own ability.  Fundamental characteristics of an Entrepreneur 4. Profit - Oriented O When you enter into the world of business, obviously, you are looking for income because you know that this will be your bread and butter not only for you but also for your family. Therefore, you must see to it the business can generate income. Another plan of action is to expand your own business through the use of your generated income.  Fundamental characteristics of an Entrepreneur 5. Goal - Oriented O An entrepreneur is forward looking. You have an advanced preparation for your business. You set a long-term goal for the activities that are needed, an extensive preparation for the production process and procedures that you need to go through to acquire, human and non-human resources. Everything in your business will have to be set clearly, organized, and planned depending on the goal you want to achieve.  Fundamental characteristics of an Entrepreneur 6. Persistence O Differences in opinion and judgment. Your opponent can be a part of the rejection on what you intend to do for your endeavor. As an entrepreneur, you must be firm, strong-willed, and stick 7. Copes or Failure with follow your own belief. O “Learn from your mistakes”. As an entrepreneur, you must learn how to deal with the frustrations and failures instead, turn these into productive learning experiences.  Fundamental characteristics of an Entrepreneur 8. Responds to Feedback or Open to Feedback: O You must be concerned to know how well you are doing and keep track of your performance. You must obtain useful feedback and advice from others. 9. Take the initiative O A successful entrepreneur takes the initiative. You must put yourself in a position where you personally are responsible for the failure or success of your business.  Fundamental characteristics of an Entrepreneur 10. Willing to Listen O Take time to listen to the advice, suggestions, and recommendations of fellow entrepreneurs. It will help your business grow. 11. Set your own Standards O This involves developing and using logical, step- by-step plans to reach the goals, or offering evaluation alternatives, monitoring progress, and switching to successful strategies for the goal you want to achieve. To be a successful entrepreneur you must take into consideration that sales and production depend on your own standards.  Fundamental characteristics of an Entrepreneur 12. Copes with Uncertainty O Pursue your vision to be a successful entrepreneur, you should know how to handle unusual events that may happen in the business which include problems in managing the workers, problems on the delivery of goods and services, and the problems on demand and production. You must be patient in dealing with these uncertainties.  Fundamental characteristics of an Entrepreneur 13. Committed O You should know that in your business, personal needs, attachment to your friends, families and relatives are set aside. You must separate the money for your business from the amount that you need to spend for personal obligations and lifestyles.  Fundamental characteristics of an Entrepreneur 14. Build on Strengths O Successful business people base their work on strengths. Use your manual skills, knowledge in creating products or services, knowledge in trade and industry, ability to make and use of a wide network of contacts to build your business.  Fundamental characteristics of an Entrepreneur 15. Reliable and has Integrity O An entrepreneur must build a good reputation, possess the courage to do the right thing, do what you say, walk your talk, be loyal, and be fair in dealing with the subordinates and costumers.  Fundamental characteristics of an Entrepreneur 16. Risk Taker O Risk sometimes cannot be anticipated. When misfortunes happen, consider these as challenges and work them out and set good alternatives. Risks may result to loss of your business or even bankruptcy.  Concept Elaboration… Computer Systems Servicing - PEC  Case Study Mrs. Gina Magno opens up her own retail business. She knows that her personal entrepreneurial characteristics are insufficient to ensure a successful operationalization of a business that she has in mind. O Your answers to the questions below will help in developing her PECs. 1. What PECs must she possess if there are customers who complain about the quality of her product? a. Patience b. Hardworking c. Versatile d. All of the above a. Patience 2. Which of the following is NOT considered as a characteristic of an entrepreneur? a. Copes with failure b. Dependent c. Persistent d. Opportunity seeker b. Dependent 3. If she wants to ensure a profitable business operation, what characteristic will she maintain? a. Commitment b. Goal oriented c. Futuristic d. Opportunity seeker d. Opportunity seeker 4. Mrs. Magno follows the advice of a friend to be flexible especially if she intends to open a retail business. What PECs has been demonstrated by Mrs. Magno? a. Self- confidence b. Reliable and has integrity c. Open to feedback d. Persistent c. Open to feedback 5. She tells Mary, her best friend that she has a strong will and does not give up to find a solution to a business problem. What PECs has been demonstrated by Mrs. Magno? a. Hard work b. Persistence c. Self-confidence d. Risk- taking b. Persistence  Application Computer Systems Servicing - PEC Individual Task: Aligning one’s PEC Directions: Choose from the list below the characteristics and traits that best describe your own personal entrepreneurial characteristics. Find ways on how to align them according to the personal entrepreneurial characteristics of an entrepreneur which were discussed earlier. Write your answer in your notebook.