PECS.ppt

PECS.ppt

• 1.
  Personal Entrepreneurial Competencies
• 2.
  PERSONAL ENTREPRENEURIAL COMPETENCIES (PECs) Theterm "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 youwant to be in the future?
• 4.
  Entrepreneurship Process of creatively convertingideas 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 havethe ability to analyze and evaluate business opportunities
• 6.
   The EntrepreneurialPersonality:  Classic entrepreneur: Bill Gates, Sam Walton  Loner, socially isolated  Hard worker  Fast learner  Risk-taker seeking wealth
• 7.
  Rewards of Goinginto 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 Goinginto Business or Entrepreneurship 1. Possibility of Failure 2. Unpredictable business conditions 3. Long hours of work 4. Unwanted or unexpected responsibilities
• 9.
  The need forachievement (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. GoalSetting –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. Persuasionand 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 youput 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 youput 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 Kingorganized 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 tocross 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 anentrepreneur 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