TLE PEC

TLE PEC

Personal Entrepreneurial Competencies (PEC)

totality of the personality, knowledge, and other skills that a person must possess to effectively perform his/her functions and responsibilities as an entrepreneur.

Personality

entirety of a man’s inherent and acquired character traits, temperament, disposition, and attitude toward self and others, and toward social, economic, political, and environment-related issues.

Achievement Cluster

distinguishing traits or qualities that make an entrepreneur a successful and extraordinary person.

Opportunity-seeking

seize a business opportunity even in situations where other people see nothing but problems.

Commitment

accept responsibility to complete a job for a customer

Persistence

determination to finish a job at any cost, even in terms of personal sacrifice

Risk-taking

ready to expect the unexpected, because he/she is aware of the risks that go with the business

Demand for Efficiency and Quality

getting things done efficiently and effectively

Goal Setting

clear version of the future, they set clear, realistic, and attainable goals and objectives

Information Seeking

using information to make informed decisions and improve their knowledge of the business.

Systematic Planning and Monitoring

·          makes a careful and orderly plan of his/her business activities and continuously monitors the actual performance of the business

Persuasion and Networking

·          have the ability to establish linkages (relationship) with significant people and convince and influence others, especially customers.

Skill

ability to use one’s knowledge in doing something effectively; being able to execute well what one knows; shown through behavior using eye-hand coordination, expression of the face, and movement of the hands and some parts of the body; cognitive and involves psychomotor abilities.

Personal Entrepreneurial Skills

–basic set of skills required to be an entrepreneur; needed to run the business successfully

Interpersonal Skills

ability of the entrepreneur in building harmonious relations

Leadership and Motivation

·          – leading others, in delegating responsibilities, in teamwork, and in encouraging and inspiring workers to follow and be committed to the vision, mission, and goals of the enterprise

Communication

proficiency in communicating one’s thoughts, emotions, and ideas to those concerned

Listening

– the ability to listen to both sides of an issue and know how to listen diligently and show empathy when listening

Negotiation and Networking

skill to carry out transactions and establish linkages

Ethics (Values)

·          correct practice of dealing with stakeholders with respect, integrity, fairness, and truth

Critical and Innovative Thinking Skills

entrepreneur can easily come up with new and creative ideas through constant practice and nurturing

Creative Thinking

·          sensing situations at different perspectives and coming up with an innovative idea

Problem-solving and System Thinking

·          skill in coming up with sound solutions to problems on hand

Recognizing Opportunities

entrepreneur sees opportunity in every situation he/she can easily spot

Functional Skills

knowledge and skills related to the efficient and effective management of the business

Practical Skills

being hands-on in the management of the business; can perform tasks such as using the computer and other technologies, setting goals for the company planning, organizing, and decision-making

Traits

refer to the inherited and acquired character of a person; components of a person’s behavior that describe his/her enduring personal characteristics

Self-awareness

knowing yourself

Self-motivation

having the drive to expand your knowledge, sharpen your skills, and improve yourself depends on how intense your urge and your interest are

Courage

being brave or fearless; dares to take the risk in business

Confidence

makes a good impression on other people

Patience

tests an entrepreneur’s tolerance in handling persistent problems involving personnel, production, marketing, financing; required waiting

Perseverance

entrepreneur can hold fast and strong to his/her position, especially amid the many problems besetting the business; does not give up easily, even when others are feeling hopeless

Hard Work

industrious person who does not count the number of hours of work; works with patience and intensity until the work sees its completion

Decisiveness

must be knowledgeable and experienced to make the right decisions with the right people

Integrity

honest not only to themselves but to everyone related to the business; does what is right.

Optimism

looks at the bright side of things; looks forward and believes that the best is still to come

Lifestyle

his/her way of life; affects the way the run their business

His/Her Passion

passionate about becoming an entrepreneur = they will exercise all means of putting up their business

His/Her Time

they can make their schedule depending on the demand of the business; a dedicated entrepreneur moves away from the traditional 8-5 working hours

His/Her Control of Finances

does not receive a fixed salary like a regular employee; can receive higher or lower, depending on the profit of the business

His/Her Personal Growth

adopting the life of an entrepreneur is a crucial decision because it means giving up some personal and family freedom and privileges