Lesson 2 Character Traits, Skills, and Competencies, Job Opportunities PDF

Entrepreneurial Character Traits, Skills and Competencies 6 Learning Objectives: At the end of the lesson, the learners will be able to: ✓ Identify the different character traits that are common among successful entrepreneurs. ✓ Explain th...

Entrepreneurial Character Traits, Skills and Competencies 6 Learning Objectives: At the end of the lesson, the learners will be able to: ✓ Identify the different character traits that are common among successful entrepreneurs. ✓ Explain the key entrepreneurial skills. ✓ Discuss the concept of core competencies in the practice of entrepreneurship. 7 Top 10 Successful Entrepreneurs 8 In the Philippines, the Small Enterprise Research and Development Foundation at the Department of Trade and Industry conducted research which identified the Ten Personal Entrepreneurial Characteristics (PECs) that lead to success. Achievement Cluster Planning Cluster Power Cluster 9  CHARACTER TRAITS COMMON TO SUCCESSFUL ENTREPRENEURS OPPORTUNITY-SEEKER Ability to perceive and discern a favorable situation or condition and RISK-TAKER convert it to a business opportunity. Taking moderate or calculated risks in the business. It means the willingness to take risks but avoiding the extremes of avoidance and PERSISTENT reckless imprudence. Being able to take all the necessary actions in order to accomplish a goal, despite obstacles or difficulties along the way. EFFICIENT AND QUALITY ORIENTED Aiming for excellence and commitment to the delivery of quality of goods and services. It COMMITMENT means striving to do things better, faster, and at Unfailing dedication to the enterprise and a lower cost. acceptance with full responsibility for everything it involves, including problems.  CHARACTER TRAITS COMMON TO SUCCESSFUL ENTREPRENEURS GOAL SETTER Involves formulating long-term and short- term goals, as well as clear, measurable, time bounded, and realistic objectives PERSUASIVE AND POSITIVE NETWORKER Adeptness in leading and having social skills in order to influence and persuade people INFORMATION SEEKER Entrepreneur’s effort to obtain information on and from clients, suppliers, and competitors. It involves seeking out experts and consultants to give technical and SELF-CONFIDENT management advice. Entrepreneurs have a strong belief in themselves, and their capabilities to get the job done, to complete difficult tasks, and to meet BEING SYSTEMATIC IN PLANNING AND challenges. MONITORING Formulate alternatives and monitor implementation in order to apply the necessary actions and remedies to situations. 12  Encircle your answer 1. I am persistent. Yes Maybe No 2. When I am interested in a project, I need less sleep. Yes Maybe No 3. When there is something I want, I keep my goal clearly in mind. Yes Maybe No 4. I examine mistakes and learn from them. Yes Maybe No 5. I keep New Year’s resolutions. Yes Maybe No 6. I have a strong personal need to succeed. Yes Maybe No 7. I have new and different ideas. Yes Maybe No 8. I am adaptable. Yes Maybe No 9. I am curious. Yes Maybe No 10. I am intuitive. Yes Maybe No Source: http://gopher.sbaonline.gove/starting_business/startup/entrepreneurialtest.html) 13 11. If something cannot be done, I find a way. Yes Maybe No 12. I see problems as challenges. Yes Maybe No 13. I take chances. Yes Maybe No 14. I will gamble on a good idea even if it is not a sure thing. Yes Maybe No 15. To learn something new, I explore unfamiliar subjects. Yes Maybe No 16. I can recover from emotional setbacks. Yes Maybe No 17. I feel sure of myself. Yes Maybe No 18. I am positive person. Yes Maybe No 19. I experiment with new ways to do things. Yes Maybe No 20. I am willing to undergo sacrifices to gain possible long-term Yes Maybe No rewards. 21. I usually do things my own way. Yes Maybe No 22. I tend to rebel against authority. Yes Maybe No 23. I often enjoy being alone. Yes Maybe No 24. I like being in control. Yes Maybe No 25. I have a reputation for being stubborn. Yes Maybe No Source: http://gopher.sbaonline.gove/starting_business/startup/entrepreneurialtest.html) 14 Scores per answer: YES (3 points) MAYBE (2 points) NO (1 point) 15 Scores per answer: YES (3 points) MAYBE (2 points) NO (1 point) Interpretation: 60-75 : You have the qualities of an entrepreneur. 48-59 : You have the potential but need to push yourself. 37-47 : You may not want to start a business alone. Below 37 : Self-employment may not be for you. 16 ENTREPRENEURIAL SKILLS Cognitive Skills Refers to the mental ability to learn new things and generate new ideas, and express knowledge in both oral and written forms. ✓ Ability to understand written materials ✓ Ability to learn and apply new information ✓ Ability to solve problems ✓ Ability to create new ideas ✓ Ability to innovate new products ENTREPRENEURIAL SKILLS Technical Skills For entrepreneurs these skills relate to their knowledge and proficiency in a specialized field. Technical skill must be studied and learned in the most practical way, “hands-on”. ✓ Information technology ✓ Business plan preparation ✓ Technical writing skills ✓ Marketing ✓ Management and finance ENTREPRENEURIAL SKILLS Interpersonal Skills Relationship and interaction of the entrepreneur to the following; workers, suppliers, creditors, prospective customers, and other members of business community. ✓ Skills in verbal communication ✓ Skills in listening ✓ Skills in leading ✓ Skills in negotiating  ENTREPRENEURIAL CORE COMPETENCY Entrepreneurial Concepts and Principles Entrepreneurial Competitive Advantage Entrepreneurial Entrepreneurial Character Traits Skills 20 “Entrepreneurs are born, not made.” 21 JOB OPPORTUNITIES of ENTREPRENEURSHIP AS A CAREER JOB OPPORTUNITIES 26 BUSINESS CONSULTANT Provide management consulting to help organization improve their performance and efficiency. 28 SALES MANAGER Responsible for leading and guiding a team of sales people in an organization. 29 RESEARCH AND DEVELOPMENT DIRECTOR Someone who understands business concepts, systems, procedures and practices. 30 FUNDRAISER Someone who raises money for a specific purpose and meant not to make profit but instead for maintaining the organization or toward the purpose for which it was created. 31 TEACHER These educators train their students to solve business problems, plan for future growth, and strategize how to run a business efficiently and effectively. 32 TALENT RECRUITER Someone whose job is in sourcing, attracting, recruiting, interviewing, and on-boarding employees to an organization. 33 BUSINESS REPORTER Someone who can write articles is in a prime position to take the lead on covering a local business beat. 34 NEW VENTURE CREATOR Someone who launch a company, start a new venture in a family enterprise or commercializing a technology 35