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ENTREPRENEURIAL

PERSONALITY

The Role of an Entrepreneur

What is an Entrepreneur

Entrepreneurship is a creative activity in


such the way as artistic or scientific
creativity is.
An Entrepreneur must, like an artist or the
scientist, conceive an idea out of his own
imagination.

The Entrepreneur
What exactly does an Entrepreneur do?
8 Entrepreneurial functions:

Perceives opportunities in the environment.


Takes risk to make use of these opportunities
Mobilizes capital for a business
Introduces innovations
Organizes labor and production
Makes decisions
Plans ahead
Sells his product at a profit

Economic Opportunities

It takes an entrepreneur to
respond in a concrete way to an
opportunity in the environment,
only the entrepreneur does
something about it.

Entrepreneur takes risks

The Entrepreneur does not


merely perceive ideas as
opportunities but also calculates
the risks involved in implementing
these ideas.

The Entrepreneur Produces Capital

There are people who are kept from


going into business simply because
they have no capital. But real
entrepreneurs never allow lack of
capital to stop them from getting
ahead.

The Entrepreneur Organizes the


Business

The Entrepreneur is the person


responsible for getting together
the resources needed for the
business to get started and going.

The Entrepreneur Makes Decisions

The Business situation involves a


lot of unknown and uncontrollable
factors which may affect the
future success or the failure of the
firm.

The Entrepreneur Introduces


Innovation

It is the Innovativeness of
entrepreneurs which largely and
continuously revolutionizes everyday
living.

The Entrepreneur Plans Ahead

The Entrepreneur can act in an


emergency. She can make rush
decisions when the situation calls for
it, However, demands that she be
able to anticipate events in the future
that will affect the business.

The Entrepreneur Plans Ahead


The Entrepreneur is an economic man.

He sees to it that his products will sell


and bring him money.

Reported by: John Dale Yap

Entrepreneurial Qualities

what makes up the entrepreneurial personality?


The entrepreneur has seven general character traits.
He takes moderate risk;
He want to take responsibility for his actions;
He is self-confident;
He likes to get concrete feedback on his own
performance from others;
He is more concerned with task or problems rather than
with people;
He is achievement-oriented; and
He is creative.
1.

2.

3.

4.

5.

6.

7.

Entrepreneurs Prefer Moderate Risk

An example of low-risk activity is placing


your saving in a very stable bank. The
chances of your money earning interest
incomes is almost certain. Your only risk is if
the bank goes bankrupt and even in such a
case, your savings is insured up to a certain
amount.

Moderate-risk activities are those


whose outcome depends largely on a
persons skills or efforts. Maybe some
luck is involved but the effect of
chances is minimized by the skills or
efforts put in by the person so that the
outcome becomes his responsibility.

An example of high-risk activity is


investing in lottery tickets. while in
almost all cases, returns on investment
are very high, the chances of success
or realizing returns on investment are
almost zero.

are known to be
individuals who are not
afraid to take risk.
However, the risk they
take are calculated. In
other words, they are
not foolhardy as to
undertake activities
where they know
nothing at all about the
possibilities for success

Entrepreneur Take
Responsibility for their Actions

The tendency of entrepreneurs to


prefer moderate risk is accompanied by a
strong desire to be the one responsible for
outcomes or results. In contrast with many
other individuals, the entrepreneur seeks
responsibilities for his actions and
decisions. this is, in fact, one of his basic
motivation for pursuing an entrepreneurial
career. He prefers to make the decisions
himself and in the process, he commits his
efforts, knowledge, skills and investments.

Entrepreneurs are selfconfident

Meaning of Self-Confidence:
Having a firm belief in your own ability and
your chances of success.
Understanding Self-Confidence
As an entrepreneur you have to note the
following key points about SelfConfidence.
SelfConfidence is concerned with:
Being free from anxiety or fear
Being free from doubt

Belief in yourself and your abilities


Feeling of trust on yourself
The state of being certain
The state of trustful relationship
Being full of hope or hopefulness

Developing Self-Confidence
As an entrepreneur you can develop selfconfidence by doing different activities.
Below are points which help to develop selfconfidence with respect to entrepreneurial
qualities.
Self-Confidence is developed when you:
Acquire new personal qualities
Are certain enough for your actions

Are concentrating on what you do well

Are free from sudden outburst of anger

Are free from uncertainty and fear

Are not in a state of insecurity

Entrepreneur seek concrete feedback on


performance

To many people, feedback on performance


can be a source of anxiety because it may bring
news of failure rather than success.

Entrepreneur are taskoriented

In an experiment o entrepreneurial behavior,


psychologists observed how entrepreneurial people
reacted to information and feedback regarding the
way they worked with others in group in a simple
problem-solving task. The distinction between the
entrepreneurs and non-entrepreneurs in this
experiment is in their orientation toward task and
people.

Entrepreneur are
Achievement-Oriented

Entrepreneur are people who accomplish


things. They have what psychologist call the need
to achieve or n Ach characterized by a
preoccupation to perform task excellently for the
sake of excellence rather than for rewards of
prestige, money, recognition and power.

Entrepreneur Are Creative

An entrepreneur has been found to be a very


creative person. She sees something else,
something different, something beyond what others
see. She imagines new and different things from
what are ordinarily seen and felt.

Personal Entrepreneurial
Competencies
These competencies are clustered into the
following
Achievement Cluster:
Opportunity seeking
Persistence
Commitment to work contract

Risk taking
Demand for efficiency and quality

Planning Cluster:

Goal setting
Information seeking
Systematic planning and monitoring

Power luster:

Persuasion and networking


Self confidence

An entrepreneur readily identifies opportunities for going


into or to improve his business. He does not merely spot
opportunities to set up a business but more importantly,
act on these opportunities like actually setting up the
business. Moreover, he will seize unusual opportunities
to tap source of financing, acquire equipment, land,
work space for business information and assistance.

An entrepreneur does not give up easily when


confronted with obstacles. He is not easily discourage
at early signs of failure. Instead, he imagination to take
repeated actions and if necessary, varies his
approaches until he gets the desired outcome.

to the work
An entrepreneur does not give up easily when
confronted with obstacles. He is not easily discourage
at early signs of failure. Instead, he imagination to take
repeated actions and if necessary, varies his
approaches until he gets the desired outcome.

Demand for
efficiency and quality
Setting high but realistic standards of excellence
for himself, he finds it difficult to compromise on those
standards. So, in order to meet these standards, the
entrepreneur always strives to finds ways to do things
better, faster and at a lower cost.

An achievement-oriented individual, the


entrepreneur plans out the accomplishment of tasks.
She sets clear and well-defined goals and breaks these
goals into short-term as well as long term goals.

As a careful planner, the entrepreneur sets what are to


be accomplish and meticulously assesses how todays
activity can contribute to the accomplishment of her
long term goal.

To assure accomplishment of her entrepreneurial


goals, the entrepreneur continuously seeks for relevant
information regarding the market, clients, suppliers and
competitors and consults experts advice on business
and other technical matters.

A persuasive person, the entrepreneur easily


establishes a network or personal and business
contacts around her. An entrepreneur is aware that
power is required to achieve her business objective.
She is, therefore, quick to identify sources of power if
she cannot source power from within her.

The entrepreneur has confidence that she can


make things happen. Aware of her capabilities she
does not doubt that she can accomplish the most
challenging tasks on hand.

Reported by: Reylene Virtudazo

trade

Pakikipagsapalaran

Gaya-gaya
Close family ties

Reported by: Adrelyn Lomosbog

3. Other values drive us to succeed in


enterprise
KASIPAGAN
One such value has to do with industriousness or
kasipagan which is an essential characteristic of an
entrepreneur.

Ang tamad namamatay sa gutom.


( The lazy man starves to death.)

Ang hipong tulog tinatangay ng agos .


( The sleeping shrimp is carried away by
the current.)

Ang kasipagay
kapatid ng kayamanan.
( Industry is the twin
of prosperity.)

Di gayod gutmon ang


tawong makugihon .
( He who works hard
does not go hungry.)

Ang katamaray
kapatid ng kagutuman.
( Indolence is the
twin of hunger.)

Pag hangin ang tinanim


bagyo ang aanihin.
( He who sows the
wind shall reap a storm.)

Ang taong tamad


hinahamak, pinupuri ang
masipag.
( The lazy man is
shunned just as the
industrious is praised.)

Labis sa salita, kulang


sa gawa.
( He who works hard
does not go hungry.)

PAGTITIPID
We also place high value on pagtitipid (thrift).
Asyong Aksaya (Asyong the spend-thrift) who
has been immortalized both on film and
cartoon as the epitome of the extravagant
And unprogressive Filipino.

Kung may isinuksok, may hinuhugot.


( Put aside something today so that you may
draw upon it tomorrow.)

Ubos-ubos biyaya, pagkaubos tutungatunganga.


( Splurge today and woe unto you on the morrow.)

Habang maiksi ang kumot, magtiis na


mamaluktot.
( Flex yourself smaller underneath a short
blanket.)

PAGTITIIS
We are likewise a persistent, persevering people.
We do not easily give up in the face of adversity.

PAGTITIMPI
Another manifestation or our endurance is
our emphasis on pagtitimpi (self-control). We
do not Allow ourselves to display, verbally or
otherwise, our emotions at the slightest
provocation.

4. KATAPATAN as a value promotes


ethical business practices

As the largest Christian nation in Asia, we have a


heritage for strong religiosity, which demands
that we be honest in our dealing with others. We do
not like to exploit others, otherwise we are tagged
masamang tao (worthless persons). Rather we
emphasize katapatan (sincerity) or
kalinisan ng kalooban (purity of heart).

5. Our values promote


harmonious labor-management
relations

damayan (mutual help)


samahan (camaderie)
madaling makagaan ng loob (easy to like)
may awa (compassionate)

pakikiramdam (gut feel)


pahiwatig (covert message)
pagdamay (sympathy)
balato (bonus)
pagtulong (helpfulness)
pagpuno sa kakulangan (understanding of ones
inadequancies)

6. Our values promote social


mobility
We are fortunate to live in a culture where there is
respect for people who rise
from the bottom through hard work. Unlike in some
countries, where people have
very little hope of rising above the classes or castes
of their birth, every Filipino can aspire
To be rich and prosperous.

Practices and Values Deterrent to


Entrepreneurship

Values, as we have learned, are held and


cherished by people in a society in the belief
that they promote individual as well as group
welfare. However useful and desirable these values
may have been for a particular length of time, there
are bound to be changes in political,economic,
social or physical environments which may call for
a restructuring of some of these
values or of the ways by which people express
them.

Traditional Values
1. Traditional child rearing practices inhibit the
development of an independent spirit
Take the practice of child-rearing. Many parents
insist on the traditional, authoritarian way of
bringing up children. The little ones are
discouraged from taking initiatives, exploring their
surroundings and asking questions, especially if
such question suggest disobedience or contrary
views to those in authority.

2. Belief in the existence of all-powerful forces that


control all destinies may destroy entrepreneurial
initiative.

Many of us believe that Ang kapalaran, di ko man


hanapin, dudulog at lalapit kung talagang akin
(one doesnt have to work for something that has
been fated to be his), and kung di ukol, di bubukol
(what is not destined to be wont be).

3. Amor propio disiclines the Filipino to take full


responsibility for his action when he falls
A value that we have seen as having positive
effects on us for entrepreneurship but have
negative effects as well is amor propio.

4. The bahala na attitude, if not tempered by


intelligent judgment and planning, may lead to
imprudent business decision making.
Many Filipinos waste much of their energies and
time on plans and projects which they undertook
mostly on the basis of bahala na rather than on an
intelligent analysis and planning of their resources.

FOR EXAMPLE:
maaga pa(its early),
tanghali na (its late),
malapit lang (its nearby),
diyan lang (its around here),
doon (its somewhere there),
marami(theres plenty),
konti(theres few)
Manana (put off tomorrow what you can do today)
and ningas kugon

5.Our family and kin may be a very supportive lot, but


watch out, for they can also do harm to our business
enterprises
Another value which has both positive and negative
effects on entrepreneurship is the close family
kinship system.

6. Colonial mentality impedes the development of a


self-reliant entrepreneurship
Another trait that we have which runs counter to
entrepreneurship is what has been known as the
colonial mentality which suggests that we tend to
believe that anything imported is necessarily better.

Reported by: Benjie Tumon

Appraising yourself for


an entrepreneurial
career

Objectives:

Assess whether or not you are ready for


entrepreneurship.
Assess what personal entrepreneurship are
strong and weak in you; and
Identify important characteristics or
entrepreneurial competencies which you have
to develop or strengthen.

Assessing your personal


entrepreneurial
competencies
Successful Entrepreneurs

Take moderate
risks

Seek for
opportunities in the
environment

Plan and Monitor


their activities
systematically

Demand efficiency
and quality

Set clear goals for


themselves

Seek information
from various sources

Assessing your personal


entrepreneurial competencies
YOU

And

ME

HAS

Entrepreneurial Attributes
Apparent or Hidden
Active or Dormant
Developed or Undeveloped

Assessing your personal


entrepreneurial
competencies
Entrepreneurs Differs:
YOU

ME

May be persistent, confident and persuasive, but only


moderately concerned with quality, and rather weak in
information seeking .

May be very committed to quality and quite strong in


information seeking, but lacking in confidence and
persistence.

Assessing your personal


entrepreneurial
competencies
But we are alike in the sense that we all have the
entrepreneurial qualities and we can all work to develop
qualities which are hidden or dormant, weak or undeveloped.

These means that we can


be entrepreneurial as long as
we put out heart to it

PECs Self-Rating
This
questionnaire consists of 55 statements. Read each statements and decide
Questionnaire
how well it describes you. Be honest about yourself. Remember, no one does
everything very well.

Select of the numbers to indicate how well the statement describes you:
5=Always
4=Usually
3=Sometimes
2=Rarely
1=Never

Write the number you selected on the line to the right of each statement.
Some statements may be similar but no two statements are exactly alike
Please answer all question.

1.

2.

3.

4.

5.

6.

7.

8.

I look for things that need to be done ___


When faced with a difficult problem, I spend a lot of
time trying to find a solution __
I complete my work on time __
It bothers me when things are not done very well __
I prefer situation in which I can control the outcomes
as much as possible __
I like to think about the future __
When starting a new task or project, I gather a great
deal of information before going ahead __
I plan a large project by breaking it down into smaller
tasks __

1.

2.

3.

4.

5.

6.

7.

8.

9.

I get other to support my recommendation __


I feel confident that I will succeed at whatever I try to
do __
No matter whom Im taking to, Im a good listener __
I do things that need to be done before being asked
to by others __
I try several times to get people to do what I would
like them to do __
I keep the promise I make ___
My own work is better than that of other people I work
with __
I dont try something new without making sure I will
succeed __
Its a waste of time to worry about what to do with
your life __

1.

I seek the advice of people who know a lot about the tasks I am
working on ___

2.

I think about the advantages and disadvantages or different ways


of accomplishing things__

3.

4.

5.

6.

7.

I do not spend much time thinking how to influence others __


I change my mind if others disagree strongly with me __
I feel resentful when I dont get my way

___

I like challenges and new opportunities __


When something gets in the way of what I am trying to do, I keep
on trying to accomplish what I want __

8.

I am happy to do someone elses work, if necessary, to get the


job on time __

1.

2.

It bothers me when my time is wasted __


I weigh my chances of succeeding or failing before I decide to do
something __

3.

The more specific I can be about what I want out of life, the more chance I
have to succeed __

4.

5.

I take action without wasting time gathering information __


I try to think of all the problems I may encounter and plan what to do if
each problem occurs ___

6.

7.

I get important people to help me accomplish my goals __


When trying something difficult or challenging, I feel confident that I will
succeed __

8.

9.

10.

In the past I have had failures __


I prefer activities that I know well and with which I am comfortable __
When faced with a major difficulty, I quickly goon to other things __

1.

2.

3.

4.

5.

6.

7.

8.

9.

When I am doing a job for someone, I make special effort to make sure
that person is happy with my work __
Im never entirely happy with the way in which things are done, I always
think there must be a better way __
I do things that are risky __
I have a very clear plan for my life __
When working on a project of someone, I ask many question to be sure I
understand what the person want __
I deal with problems as they arise, rather spent time trying to anticipate
them __
In order to reach my goals, I think of solution that benefit everyone involved
in a problem __
I do very good work __
There have been occasions when I took advantage of someone __

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

11.

I try things that are very new and different from what I have done before __
I try several ways to overcome things that get in the way of reaching my
goals __
My family and personal life are more important to me than work deadline I
set for myself __
I find ways to complete tasks faster at work and at home __
I do things that others consider risky __
I am as concerned about meeting my weekly goals as I am my yearly goals
__
I go to several sources to get information to get help with tasks or projects
__
If one approach to a problem does not work, I think another approach __
I am able to get people who have strong opinions or idea to change their
minds __
I stick with my decisions even if others disagree strongly with me __
When I dont know something, I dont mind admitting it __

EXAMPLE OF COMPLETED
RATING TABLE

Ratings of statement

Score

PEC

1.) 4 +12.) 4 +23.) 3 +34.) 4 +45.) 2

+6 =15

Opportunity seeking

2.)4 +13.) 4 +24) 3 +35.)2

+46)4

+6=19

3.)4 +14.) 4 +25.) 4 +36.)4

+47.)5

+6=17

Commitment to work contract

4.)4 +15.)4 +26)4

+37.)3

+48.)4

+6=17

Demand for efficiency/quality

5.)5 +16.)4 +27.)4 +38.)2

+49.)2

+6=15

6.)3 +17.)1 +28.)2 +39.)2

+50.)4

+6=16

7.)4 +18.)4 +29.)2 +40.)5

+51.)5

+6=22

8.)4 +19.)3 +30.)4 +41.)4


planning/monitoring
9.)4 +20.)4 +31.)3 +42.)4

+52.)4

+6=17

+53.)2

+6=15

10.)3 +21.)3 +32.)3 +43.)4

+54.)4

+6=17

11.)4 +22.)4 +33.)3 +44.)2

+55.)4

+18=17

Persistence

Risk asking
Goal Setting
Information seeking
Systematic
Persuasion and networking
Self-confidence
Correction error

How to score

Now that youve completed your rating table, you


may now go on the next step:
Get your net score by subtracting the correction factor from
your total raw score. The correction factor is used to
determine whether or not a person tries to present a very
favorable image of herself . If the total score on this factor
is 20 or greater, then the total score on the PECs must be
corrected to provide a more accurate assessment of the
strength of the PEC scores for that individual. Follow the
steps below :
Go to last column of the rating table on page 129. total your
scores in items 11,22,33,44 and 55. The sum you will get is
the correction factor score.
Now that you have the correction factor score, use the
following guide in figuring how much to subtract from your raw
score. Encircle or highlight the numbers that corresponds to
your score .

1.

2.

If the correction factor score is:

1.

.
1

.
2

.
3

.
4

24-25
22-23
20-21
19-less

7
5
3
0

Subtract the FF number fr. Each PEC Score

Now you can correct your raw scores in each PEC. Use the following table while
referring to the original ratings table on page 129:
PEC

Original
score
-

Correctio
n number
=

Correc
ted
Total

Opportunity seeking

_____

Persistence

_____

Commitment to work contract

_____

Demand for efficiency/quality

_____

Risk asking

_____

Goal Setting

_____

Information seeking

_____

Systematic planning/monitoring

_____

Persuasion and networking

_____

Self-confidence

_____

Correction error

_____

3.) Get your PEC profile by transferring the corrected PEC score to the profile
sheet below. Using the profile sheet on the next page follow the steps below:

Mark X at the appropriate point on the horizontal line or each PEC.


if

the score for opportunity seeking is 17,it will appear as

fallows:
Opportunity seeking: ___:___:___:__X:___:___

Draw a heavy vertical line connecting the Xs for each PEC and you

have constructed your PEC profile.

PEC PROFILE SHEET


Opportunity seeking
Persistence
Commitment to work contract
Demand for efficiency/quality

Risk asking
Goal Setting
Information seeking
Systematic planning/monitoring

Persuasion and networking


Correction error
0

:5

:10

:15

:20 25

Reported by: Sherlyn Raur-raut

Developing Yourself for


Entrepreneurship

Be creative
To be creative is to generate ideas and
images in your head in order to come up with
solutions or alternative solutions to problems.
Creativity involves moving around ideas,
splitting them, combining them with other ideas;
and thus arriving at new ways of doing things.

Actively seek opportunities


A successful entrepreneur actively seeks
opportunities. Looks at a situation and thinks:
Whats in here that can be turned into a business.
or if he/she already in business, he/she ask her
self: Whats in here that will be good for my
business or will improve it.

Here are some examples:


If you actively seek opportunities, you will find
costumers or markets where other people finds
none.
If you actively seek opportunities, you will find
new uses for old products,
including waste products.
If you actively seek opportunities, you will find
new ways of doing things.

Here are some examples:


If you actively seek opportunities,
you will find
new products for old markets or costumers.

If you actively seek opportunities,


you will find
new products for old markets or costumers.

Take moderate risks

The successful entrepreneur takes risk,


but before doing so is able to recognize, assess
and minimize the risks.

Moderate risk taker


Assess the situation carefully.
Find out if your actions will have negative
side-effects.
Ask for advice from knowledgeable
people.
Plan for contingencies.
1.

2.

3.

4.

Practice persistence
Persistence is also trying to do something
even if other people say you are likely to fail.
1. Dont give in
disagrees with you.

quickly

when

someone

2.
If you get angry at someone who
stubbornly
disagrees
with
you,
youre
persistence will wear off quickly because you
will be concentrating on youre anger.

3.

Face the opposition squarely and openly.

Be committed to what you set out to


1. Have strength of character.
2. Make only promise you can keep.
3. Know what to do when you cannot
keep a promise.
4. Cultivate the trust of others.
5. Clarify expectations.
6. Apologize sincerely.

Set high standards of equality


and efficiency
Consistency is important
A neglected and dissatisfied costumer
might never return.
Devotion to equality and efficiency must
become a way of life for you and your
workers.
Use appropriate technology to help you.

1.

2.

3.

4.

Seek information

Knowledge or
information is power.

Where do you get


information?

Set clear and realistic goals

Be realistic
Be self-reliant
Select Goals
Focus on positive objectives.

Believe in your self


Know as much of your self.
Look at your qualities in a realistic
manner.
Emphasize your strengths and play down
weaknesses.
Take care of your self physically.

1.

2.

3.

4.

Plan systematically
Planning
Scheduling
Monitoring

Be persuasive
To win people over completely, you must
appeal to their heart as well as their mind.
Present your idea in way that is logical
from other persons viewpoint.
Ask questions that will give you more
information about their needs.

Be persuasive
Closed the deal by assuming the sale
has been completed.
Agree with their remark and build on it to
push your product, service, or idea.

Practice entrepreneurship

Experience is the best


teacher.

Reported by: Jarry Porcalla

Group Entrepreneurship

Types of Group Entrepreneurship


1.Classified by types of activities, group
entrepreneurship may take the following forms:
>Short-term joint venture
>Joint marketing of product on a regular basis
>Joint ownership of a service facility
>A well developed organization structure
undertaking an economic activity
>Network or groups of artisans
>Group entrepreneurship engaged in specialized
services

Types of Group Entrepreneurship


2.By legal form ownership, group entrepreneurship
may be a :
>Partnership
>Corporation
>Cooperative

Advantages of Group Entrepreneurship


1.Group ownership provides the following
advantages to the individual participants:
*Mobilizing resources
*Attaining economies of scale
*Developing human resources

Advantages of Group Entrepreneurship


2.On the other hand, group entrepreneurship also
benefits society in general in the following ways:
*Reaching segments of the population not served
by public programs
*Increasing the supply of entrepreneurs
*Fighting poverty
*Overcoming exploitation
*Preserving traditional crafts and arts

Disadvantage of Group Entrepreneurship


*It takes time to start a group enterprise as there
are many processes involved before the group is
formed and begin operating.
*Profits have to be shared with the other member of
the group. For a cooperative that has yet to take
off, the momentary rewards to each member may
be too meager.

Disadvantage of Group Entrepreneurship


*Decision making takes longer as the partners, the
board, or the general membership has to meet
before a policy issue can be acted on.
*An initiative or a suggestion by a member or group
of members may be killed off by vested interest
within the organization or outside the organization,
especially if the group enterprise enters into
business where competition is keen or where
domains or turfs have already been established.

Reported by: Fatima Sugandi

Group 2 Reports:
John Dale Yap
Reylene Virtudazo
Adrelyn Lomosbog
Benjie Tumon
Sherlyn Raut-raut
Jarry Porcalla
Fatima Sugani