Lesson 2: Personal Entrepreneurial Competencies (PECs) Clusters

Personal Entrepreneurial Competencies (PECs) Cluster

​The Achievement Cluster

The word achievement refers to something that has been accomplished or realized through hard work.

Subject | Subject

The entrepreneur seeks and acts on new business opportunities, seizes unusual circumstances to obtain financing, equipment, land, work space, assistance, or anything that helps in the realization of a plan.

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​1. Opportunity Seeking

​2. Persistence

Persistence is a quality that allows the entrepreneur to pursue a project or task despite the difficulty it involves even if these are disapproved or opposed by others.

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​- Bertrand Russell

" No great achievement is possible without persistent work. " 

When you feel motivated, theres is an important reason behind it.

Cultivate persistence by listing down the things you want to realize even if these things are quite impossible to achieve at the moment.

​a. Identify your wants or desires.

​Developing Persistence

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​b. Be aware of what motivates you in the achievement of these needs and wants.

Focus on what you are doing and avoid regretting and having negative thoughts and feelings.

​c. Develop a definite plan of action.

​Developing Persistence

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​d. Have a positive attitude and sustain it.

​Developing an action plan layouts the steps that need to be done to achieve your plan.

Discipline and good habits are key to the realization of goals.

e. Establish a support group.

​Developing Persistence

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​f. Practice discipline and good habits.

​This should be composed of the people you trust, who can give you objective assessment, and possess positive attitude.

The entrepreneur accepts full responsibility for problems in completing a job for customers, pitches in with workers, or works with them to get a job done on time, expresses close concern for satisfying the customers, and makes deliveries of goods and services right on schedule.

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​3. Commitment to the work contract.

​4. Risk taking

An entrepreneur is a risk taker not in the context of speculation and gambling but in the organization of human and non-human resources in the attainment of the objectives.

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​RISK

​> is a state of the mind and therefore, risk taking is not only limited to the economic aspect but also a psychological dimension.

The entrepreneur acts to do things that meet or even exceed existing standards of excellence, improves on past performances; and strives to do things better; faster, and cheaper. ​

​5. Demand for efficiency and quality

​The Planning Cluster

Subject | Subject

​ Planning is defined as the establishment of objectives, policies, and procedures geared towards the full realization of end goals.

​- Benjamin Franklin

" If you fail to plan, you are planning to fail! "

​1. Goal Setting

The entrepreneur must establish specific, measurable, attainable, reliable, and time bound (SMART) short term objectives as well as long term.

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The entrepreneur personally seeks important data on clients, suppliers, and even possible competitors; consults experts for business or technical advice; and uses contacts and information networks to obtain functional information all for the purpose of fully realizing his/her goals. ​

​2. Information seeking

​3. Systematic Planning and Monitoring

The entrepreneur develops and applies logical step-by-step plans to realize goals, assesses alternatives, monitors progress, and shifts to other alternative strategies if necessary to be able to achieve identified goals.

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​The Power Cluster

Subject | Subject

​ Power is defined as the possession of control, authority, or influence over others. The power cluster includes important entrepreneurial competencies: persuasion and networking, and self confidence. ​

The entrepreneur applies various strategies and techniques to influence, persuade, or convince others, sells his/her good ideas to people significant to the business, and seeks help from business and personal contacts to achieve objectives.

​1. Persuasion and Networking

​2. Self - Confidence

The entrepreneur has a strong belief in himself or herself and his or her own abilities and skills most especially in accomplishing a highly difficult task or in facing challenging problems.

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