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2 IDENTIFY DESIRABLE CHARACTERISTICS OF A SUCCESSFUL ENTREPRENEUR BASED ON PECs

This document discusses characteristics of successful entrepreneurs. It identifies integrity, self-discipline, people skills, strong work ethic, passion, leadership, competitiveness, organization, and sales ability as key characteristics. It also describes three clusters of entrepreneurial traits: achievement (including opportunity-seeking, persistence, commitment, risk-taking, and demand for quality), planning (such as goal-setting and information-seeking), and power (including persuasion, networking, and self-confidence). Early exposure to entrepreneurship can help develop these qualities in individuals.

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Berlin Alcayde
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2K views39 pages

2 IDENTIFY DESIRABLE CHARACTERISTICS OF A SUCCESSFUL ENTREPRENEUR BASED ON PECs

This document discusses characteristics of successful entrepreneurs. It identifies integrity, self-discipline, people skills, strong work ethic, passion, leadership, competitiveness, organization, and sales ability as key characteristics. It also describes three clusters of entrepreneurial traits: achievement (including opportunity-seeking, persistence, commitment, risk-taking, and demand for quality), planning (such as goal-setting and information-seeking), and power (including persuasion, networking, and self-confidence). Early exposure to entrepreneurship can help develop these qualities in individuals.

Uploaded by

Berlin Alcayde
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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ENTREPRENEURSHIP

LESSON 2

IDENTIFY DESIRABLE
CHARACTERISTICS OF A
SUCCESSFUL ENTREPRENEUR
BASED ON PECs
TOP 10 ENTREPRENEURS OF
THE PHILIPPINES
Diosdado
Banatao
TOP 10 ENTREPRENEURS OF
THE PHILIPPINES

Ernest L. Cu
TOP 10 ENTREPRENEURS OF
THE PHILIPPINES

Engineer
Gregorio G.
Sanchez, Jr.
TOP 10 ENTREPRENEURS OF
THE PHILIPPINES

Corazon D.
Ong
TOP 10 ENTREPRENEURS OF
THE PHILIPPINES

Mariano Que 
TOP 10 ENTREPRENEURS OF
THE PHILIPPINES

Socorro C.
Ramos
TOP 10 ENTREPRENEURS OF
THE PHILIPPINES

Alfredo Yao
TOP 10 ENTREPRENEURS OF
THE PHILIPPINES

Cecilio M.
Pedro
TOP 10 ENTREPRENEURS OF
THE PHILIPPINES

Tony Tan
Caktiong
TOP 10 ENTREPRENEURS OF
THE PHILIPPINES

Henry Sy
ENTREPRENEURSHIP
Words to Study
Integrity - uprightness of character, honesty
Innovation - acts of introduction something
new
Obstacle - a hindrance or obstruction in
either physical or moral sense
Opportunity - a favorable or advantageous
circumstance
ENTREPRENEURSHIP
Words to Study
Opportunity - a favorable or advantageous
circumstance
Passion - a powerful emotion, such as love,
joy
Persistence - act of persisting in any course
or enterprise; perseverance
Risk - the possibility of suffering harm or
loss
Characteristics and Qualities of a Successful
Entrepreneur

1. Integrity - successful entrepreneurs are


rated “being honest with everyone” the
number one factor of their success.
Characteristics and Qualities of a Successful
Entrepreneur

2. Self –discipline – to become a successful


entrepreneur you have to be highly
disciplined. You have to develop the ability to
get things done, even when you don’t feel like
it. Luckily, you learn self-discipline with the
right information and conscious effort.
Characteristics and Qualities of a Successful
Entrepreneur

3. People skills - another critical factor among


successful entrepreneurs is having good
people skills. You should make an effort to
genuinely like, respect, and appreciate other
people. The ability to win people over will
carry you far in all walks of life, especially
your own business.
Characteristics and Qualities of a Successful
Entrepreneur

4. Strong work ethics – there’s no substitute


for hard work when it comes to becoming a
successful entrepreneur. Most people want to
do the fastest and easiest solution when it
comes to work. To be successful, dedicate
yourself to persistent, productive, and old
fashioned hard work.
Characteristics and Qualities of a Successful
Entrepreneur

5. Passion – you need to be passionate about


your business. This doesn’t necessarily mean
you have to build a business around
something you love. You should identify a
profitable market and then build your
business.
Loving your business will also make it
easier to get through the start-up phase, and
other future obstacles.
Characteristics and Qualities of a Successful
Entrepreneur

6. Strong leadership qualities - being able to


communicate effectively, motivate others, sell
your ideas, and be decisive, are just a few
qualities of a good leader. In order to become
a successful entrepreneur you must dedicate
yourself of improving your leadership and
abilities.
Characteristics and Qualities of a Successful
Entrepreneur

7. Competitiveness – competition is
everywhere. In business, it is the survival of
the fittest. If you can out market and
outperform your competitors, your chance of
being a successful entrepreneur will be much
better. Play to win, but never sacrifice your
integrity for the sake of a few bucks.
Characteristics and Qualities of a Successful
Entrepreneur

8. Well-organized – One of the main reason


why small businesses fail is lack of
organization. Everyone can learn
organization skills with enough hard work,
practice and persistence.
Characteristics and Qualities of a Successful
Entrepreneur

9. Sales ability- The ability to convince others


to make a conscious decision is a key of
becoming a successful entrepreneur “People
don’t buy for logical reasons. They buy for
emotional reasons”. Being able to appeal to
other people emotions is the key to selling
your ideas, products or services.
Personal Entrepreneurial Characteristics Clusters
and Behavioral Indicators

I. Achievement Cluster
Successful entrepreneurs are people who
accomplish things. They have what
psychologists call the “need to achieve” They
want to perform tasks excellently not only for
prestige or money but for the sake of
excellence itself. When entrepreneurial
individual work on something, they like to
know afterwards that it was a job well done
and this alone is enough to make them happy.
Personal Entrepreneurial Characteristics Clusters
and Behavioral Indicators

Achievers rate high in the following PECs

1. Opportunity-Seeking. An entrepreneur is
said to be a good opportunity- seeker if he
sees and acts on new business opportunities
and seizes unusual opportunities to acquire
financing, equipment, land and work space or
assistance.
Personal Entrepreneurial Characteristics Clusters
and Behavioral Indicators

Achievers rate high in the following PECs


2. Persistence. A persistent individual is one
who
a. takes different actions to overcome an
obstacle
b. makes personal sacrifice or spends
extraordinary efforts to complete a job
c. sticks to his judgments in the face of
opposition or early lack of success
Personal Entrepreneurial Characteristics Clusters
and Behavioral Indicators

Achievers rate high in the following PECs


3. Commitment to the Work Contract. When
the entrepreneuer accepts a job, he takes full
responsibility for its completion. No job is too
small, too dirty or too difficult to be done.
When necessary, he pitches in for workers to
get things done. He exerts extra effort to
satisfy the costumer. In the end, if he fails he
would take full measure of the blame. But if
he succeeds, he expects to get full credit.
Personal Entrepreneurial Characteristics Clusters
and Behavioral Indicators

Achievers rate high in the following PECs


4. Risk Taking. A gambler is a person who
takes high risks and so he tends to lose all his
money and even his shirts in the end. An
entrepreneur is not a gambler. A successful
entrepreneur takes calculated, moderate, or
reasonable risks where he perceives the
chances for winning to be good. In other
words, he states a preference for situations
that involve moderate risks.
Personal Entrepreneurial Characteristics Clusters
and Behavioral Indicators

Achievers rate high in the following PECs


5. Demand for Quality and Efficiency. A true
entrepreneur is not satisfied with mediocre
work. He sets a high standard of performance.
The high standard of performance makes him
act to meet or exceed existing standards of
excellence or improve on past performance.
He strives to do things better, faster, or
cheaper.
Personal Entrepreneurial Characteristics Clusters
and Behavioral Indicators

II. Planning Cluster


a. Goal-Setting. An entrepreneur always
thinks not only of what he wants to
accomplish day-to-day but also in one, two, or
five years from now. In other words, he sets
clear and specific short-and-long term
objectives. He thinks of today’s activity as a
small step towards that which he eventually
wants to accomplish.
Personal Entrepreneurial Characteristics Clusters
and Behavioral Indicators

II. Planning Cluster


b. Information-Seeking. As a careful planner,
the successful entrepreneur always makes it a
point to seek information that is relevant and
useful to his present or future business. He
obtains information from clients, suppliers,
experts, competitors, contacts, and
information networks. He also consults
experts for business or technical advice.
Personal Entrepreneurial Characteristics Clusters
and Behavioral Indicators

III. Power Cluster


a. Persuasion and networking. A persuasive
person who readily establishes a network or
personal business contracts around him
usually makes a good entrepreneur. In order
to persuade others, the entrepreneur uses
deliberate strategies. In order to accomplish
his business objectives he uses his network
of useful friends and acquaintances.
Personal Entrepreneurial Characteristics Clusters
and Behavioral Indicators

III. Power Cluster


b. Self-Confidence. The entrepreneur exudes
self-confidence. He strongly believes in
himself and his own abilities. No challenge is
too difficult nor is a task too big that the
entrepreneur would indulge in self-doubt.
When he enters a business, it is because he is
confident that the business would be
successful and profitable.
Personal Entrepreneurial Characteristics Clusters
and Behavioral Indicators

LET US REMEMBER
Early exposure to an enterprise culture and
adequate training, especially during youth or
childhood, can help develop the qualities of
an individual and increase the chances of a
successful entrepreneurial career later.
Personal Entrepreneurial Characteristics Clusters
and Behavioral Indicators

HOW MUCH HAVE YOU LEARNED?


Directions: Choose the correct answer from
the options under each item. Write the letter
of the correct answer in a sheet of paper.
Personal Entrepreneurial Characteristics Clusters
and Behavioral Indicators

1. Self discipline is important in putting up a business.


Which selection below contributes to the success of an
entrepreneur?
a. Develop the ability to get things done, even when
you don’t feel like doing it
b. Dedicate yourself in improving your leadership,
skills and abilities
c. Being able to appeal to other people’s emotions
in selling your ideas, products or services
d. Identify a profitable market and then build your
business
Personal Entrepreneurial Characteristics Clusters
and Behavioral Indicators

2. To communicate effectively is one quality of a


good entrepreneur. Which of the options below is
the most important?
a. Strong leadership qualities
b. Strong work ethics
c. Sales ability
d. Self discipline
Personal Entrepreneurial Characteristics Clusters
and Behavioral Indicators

3. In business, it is the survival of the fittest that counts.


Which one of these best describes competitiveness?
a. Play to win, but never to sacrifice your integrity
for the sake of a few bucks
b. Learn self discipline with the right information
and conscious efforts
c. Make an effort to genuinely like, respect and
appreciate other people
d. Identify a profitable market and build your
business
Personal Entrepreneurial Characteristics Clusters
and Behavioral Indicators

4. Which PECs behavioral indicator meets or beats


existing standards of excellence to improve
performance?
a. commitment to the work contract
b. demand for quality and efficiency
c. opportunity seeking
d. persuasion and networking
Personal Entrepreneurial Characteristics Clusters
and Behavioral Indicators

5. Which of the statements below is NOT a good


indicator of the PECs?
a. Developing systematic plans and
monitoring activities and performance
b. Developing and using alternatives to
monitors progress
c. Ready to adopt to alternatives or strategies
when necessary to achieve goals
d. Accomplish business objectives and use
network of friends and acquaintances

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