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Here is our objective for today’s topic..
We will discuss Personal Entrepreneurial Competencies (PECs)
We will Assess one’s PECs: characteristics, lifestyle, skills, traits
We will Compare one’s PECs with those of an entrepreneur.
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PEC’s
What is Personal Entrepreneurial Competencies?
● Technical and entrepreneurial skills are very much
in demand nowadays. That's the reason why most
of the learners must have to undergo training in
order for them to become a more competitive.
Developing their skills will help them in earning a
living for their future. In order to become a great
entrepreneur he/she must acquire these
entrepreneurial skills and traits.
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Most Important Entrepreneurial Traits
The following are the fundamental characteristics of an
entrepreneur:
1. Hard working – This means an entrepreneur works diligently and consistently
about it. Hardworking people keep improving their performance to produce good
products and/or provide good services.
2. Self – Confidence – Entrepreneurs have a strong belief in themselves and their
own abilities. They have self-awareness and belief in their own ability to complete a
difficult task or meet a challenge.
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Most Important Entrepreneurial Traits
3. Profit – Oriented – An entrepreneur enters the world of business to generate profit or additional
income. The business shall become your bread and butter. Therefore, you must see to it that the
business can generate income.
4. Goal – Oriented – Entrepreneur knows how to set specific, measurable, attainable, realistic, and
time-bound (SMART) goals. It is easy for them to divide large goals into short-term goals.
5. Persistence – Entrepreneurs do not easily give up in the face of problems. This includes making a
personal sacrifice or extraordinary effort to complete a job.
6. Ability to accept change – Entrepreneurs should handle with and do well on changes. Nothing is
permanent but change. Change occurs frequently. Capitalize on
positive changes to make your business grow.
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Most Important Entrepreneurial Traits
7. Has the initiative - An entrepreneur takes the initiative. He has the ability to analyze and initiate
things independently for the success of his business.
8. Committed - Good entrepreneurs assume full responsibility over their business.
They give full commitment and solid dedication to make the business successful.
9. Risk-taking - Entrepreneurs are known for doing tasks that are moderately
challenging in order to achieve a goal.
10. Disciplined - Successful entrepreneurs always stick to the plan and fight the
temptation to do what is unimportant.
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Most Important Entrepreneurial Traits
11. Creative - An entrepreneur should be creative and innovative to stay in the business and in order to
have an edge over the other competitors
12. Demand for efficiency and quality - Entrepreneur see to it that the business meets or exceeds
existing standards of excellence and exerts efforts to improve past performance and do things better.
They set high but realistic standards
13. Excellent planner - A good entrepreneur develops and follows the steps in the
plans diligently to realize goals. A good entrepreneur knows that planning is an
effective skill only when combined with action.
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Most Important Entrepreneurial Traits
14. Possesses people skills - This is a very important skill needed to be successful in any kind of
business. People skills refer to effective and efficient communication and establishing good relationship
to the people working in and out of your business. In day-to-day business transactions, you need to
deal with people. A well-developed interpersonal skill can make a huge difference between success and
failure of the business.
15. Sound decision maker - Successful entrepreneurs have the ability to think quickly and to make wise
decisions towards a pre planned set of objectives. Sound decisions should be based on given facts and
information and lead towards the preplanned objectives.
16. Information seeking - Entrepreneur update themselves with new information about his customers,
the market, suppliers, and competitors. This is rooted to their natural sense of curiosity.
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