Personal Entrepreneurial

Competencies

Question

What do you want to be in the future?

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

Entrepreneur

People who have the ability to analyze and evaluate business opportunities

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.

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

3 Clusters

Achievement Planning Power

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

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

Planning Cluster

1. Goal Setting –sets clear long term goals2. 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

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

Assignment

Short bond Give one successful entrepreneur in the

Philippines Search for his/her profile Give details of his/her achievements