Persuasion and networking - Entrepreneurs know how to use the right strategies to influence or persuade other people. They monitor progress towards goals and to alter strategies when necessary. Systematic planning and monitoring - Entrepreneurs develop and use logical, step-by-step plans to reach their goals. This is rooted to their innate sense of curiosity.
Information seeking - Entrepreneur update themselves with new information about her customers, the market, suppliers, and competitors. It is easy for them to divide large goals into short-term goals. Goal setting - Entrepreneur knows how to set specific, measurable, attainable, realistic, and time-bound (SMART) goals. Risk-taking - Entrepreneur are known for taking calculated risks and doing tasks that are moderately challenging.ĭemand 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 accept full responsibility for problems when completing a job for customers. This includes making a personal sacrifice or extraordinary effort to complete a job.Ĭommitment to work contract - Entrepreneur do their best to satisfy customers and to deliver what is promised. They will take repeated or different actions to overcome the hurdles of business. Persistence - Entrepreneurs do not easily give up in the face of obstacles. Opportunity seeking – Entrepreneurs have a good eye for spotting business opportunities and acts on these opportunities appropriately. The entrepreneurial qualities, more known as the Personal Entrepreneurial Competencies (PECs) are as follows: LM-Beauty Care (NAIL CARE) Grade 9 typical entrepreneurial behaviors. It was found out that these behaviors were also There is a well-known research on human behavior done by McClelland and McBer which identified 10 behavioral patterns organized into three general clusters: the achievement, planning, and power clusters (SERDEF, 2007 1998). Personal Entrepreneurial Competencies There has been many studies to characterize “the entrepreneurial personality” although there is no isolated set of traits that guarantee success, there were identified behaviors found common to most successful entrepreneurs. They are the ones who act on their business ideas.
LEARNING OUTCOME 1: ASSESS PERSONAL ENTREPRENEURIAL COMPETENCIESĮntrepreneur An entrepreneur is comprehensively defined by Zimmerer & Scarborough (2005) as someone who “creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying significant opportunities and assembling the necessary resources to capitalize on them” (p.3). In addition, a brief lesson on the Business Environment and Idea Generation is provided to help contextualize how your skills might be useful for an entrepreneurial venture. In this concept review, you will be reminded of these lessons and you get to assess whether or not you have the competencies found among entrepreneurs. CONCEPT REVIEW At the start of your journey in learning Beauty Care (Nail Care Services), the Personal Entrepreneurial Competencies and entrepreneurial mindsets were introduced.