Personal
Entrepreneurial
Competencies
Shailini G. Gestosani, M.Ed.
College of Education
Iloilo Science and Technology University
Question
What do you want to be
in the future?
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
ENTREPRENEURSHIP
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
What is an ENTREPRENEUR
Entrepreneur




People who have the ability to analyze and
evaluate business opportunities
People who have skills and capabilities to see
and evaluate opportunities
They can strategically identify products or
servies needed by the community and they have
the capacity to deliver these ar the right time and
at the right place
Agent of economic change – they organize,
manage and assume risks in business
Entrepreneur vs Manager

The Entrepreneurial Personality:

Classic entrepreneur: Bill Gates, Sam
Walton




Loner, socially isolated
Hard worker
Fast learner
Risk-taker seeking wealth
Characteristics of an
Entrepreneur

Hardworking – habitually working diligently
for a long period of time.

Hardworking people keep on improving their
performance to produce good products
and/or provide good services
Characteristics of an
Entrepreneur

Confidence – Entrepreneurs have confidence
in his own ability and judgement.

They exhibit self-confidence in order to cope
up with all the risks of operating their own
business
Characteristics of an
Entrepreneur

Discipline – Successful entrepreneurs always
stick on the plan and fight the temptation to
do what is unimportant.
Characteristics of an
Entrepreneur

Committed – A good entrepreneur accepts
full responsibility of everything in his/her
business

He/she gives full commitment and solid
dedication to make the business sucessfult
Characteristics of an
Entrepreneur

Flexible – successful entrepreneur have the
ability to accept change

When you have the business you should
cope up and thrive on changes. Capitalize on
positive changes to make your business
grow.
Characteristics of an
Entrepreneur

Creative – an entrepreneur should be
creative and innovative to stay in business to
have the edge over the other competitors
Characteristics of an
Entrepreneur

Has the initiative – Entrepreneurs should take
responsibility of the decisions – may it be for
failure or success of the business
Characteristics of an
Entrepreneur


Profit Oriented: When you enter into the world of
business, obviously, you are looking for income because
you know that this will be your family’s bread and butter.
Therefore, you must see to it that the business can
generate income. Another plan of action is to expand
your own business through the use of your generated
income.
An entrepreneur enters into the world of business to
generate profit or additional income. This shall become
the bread and butter for you and for your family as well.
Therefore, you must see to it that the business can
generate income.
Characteristics of an
Entrepreneur

Future-Oriented: Once a person enters in a
line of business, you must understand that
you are in a non-stop contract as an
entrepreneur. 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 abilities.
Characteristics of an
Entrepreneur

Copes with Failure: Learn from your
mistakes. As an entrepreneur, you must learn
how to deal with the frustrations and failures
and turn these into productive learning
experiences.
Characteristics of an
Entrepreneur

Excellent Planner: Planning is strategic
thinking and setting of goals to achieve
objectives by carefully maximizing all the
available resources. A good entrepreneur
develops and applies step-by-step plans to
realize the goals. A good entrepreneur knows
that planning is an effective skill only when
combined with action.
Characteristics of an
Entrepreneur

Possesses People Skills: It is an important
skill in order to be successful in any kind of
business. People skill refers to the effective
and efficient communication and relation to
people working in and out of your business.
In the dayto-day business transactions, you
need to deal with people. A well-developed
people skill can spell out the difference
between success and failure of the business.
Rewards of Going into
Business or Entrepreneurship
1.
2.
3.
4.
5.
6.
Having unlimited opportunity to make
money.
Being your own boss.
Tapping your creativity.
Overcoming challenges and finding
fulfillment.
Helping others.
Building an entrepreneurial legacy.
Risks of Going into Business
or Entrepreneurship
1.
2.
3.
4.
Possibility of Failure
Unpredictable business conditions
Long hours of work
Unwanted or unexpected responsibilities
Entrepreneurial Motivation
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.
Let’s test our creativity!
Think and write down all the functions you can
imagine for the following:




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A fallen tree trunk
An empty box of
tissue paper
A paper plate
An old coat hanger
An obsessively
organized
classmate
A computer whiz
friend




An empty tin can
A pile of old
newspaper
A box of fabric
swatches/scraps
(retaso)
A box of worn out
nylon stockings
3 Clusters



Achievement
Planning
Power
Achievement Cluster
Persistence – does not give up easily
1.




Makes sacrifices
Takes repeated action to solve problems
Not overwhelmed by obstacles and barriers
Maintains positive outlook
Seizing Opportunity- takes advantage of all
business opportunities available
2.

You are after new advances to satisfy the
consumers
Commitment – accepts full responsibility for
problems encountered
3.


Helps employees to get the job done
seeks to satisfy the customer
Risk Taking –prefers situations involving moderate
risks
Concern for quality and efficiency-always strives
to raise standards
4.
5.


Aims excellence
Strives to do things better, faster, cheaper
Planning Cluster
Goal Setting –sets clear long term goals
Information seeking – personally seeks
information on clients, suppliers and
competitors
1.
2.

Seeks expert for business and technical advice
Systematic Planning and Monitoring –
develop logical step-by step plan to reach
goal
3.


Works into alternatives and weighs them
Monitors and shifts alternative strategies when
necessary to achieve goals
Power Cluster
Persuasion and networking – uses
business and personal contact to
accomplish objectives
1.

Employs deliberate strategies to influence or
persuade others
Self-confidence – believes in ones self
2.

Expresses confidence in own ability to
complete difficult task or challenges
Assignment



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Short bond
Give one successful entrepreneur in the
Philippines
Search for his/her profile
Give details of his/her achievements
Simple Creativity Test
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.
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
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
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.
What makes an entrepreneur run a successful
business?
Is it -SKILL? EFFORT? LUCK?
PEOPLE CREATE OUTSTANDING PERFORMANCE
through
Going beyond the norm
Teamwork
CREATIVITY - INFLUENCING -PERSISTANCE -RESULTS
Entrepreneurial success = behaviours
(effort+skill+luck)