Technology and Livelihood Education

Entrepreneurship

Module 1: Personal Entrepreneurial Competencies

Have you ever thought about running your own business? Entrepreneurship
has brought great success to some people, but it's not a career path for all. Do
you think you can handle the stress and hard work that go with running a small
business enterprise? The key to success in a small business enterprise is your
entrepreneurial ability to produce the desired results. Before embarking on your
first business, it's worth spending some time evaluating your own preparedness
for entrepreneurship. Try to examine your own personality and compare it with
the Personal Entrepreneurial Competencies (PECs) of a successful
entrepreneur. Ask yourself if you are ready to enter into the world of business. If
your answer is yes, consider this reminder: “Successful entrepreneurs
continuously develop and improve their PECs.”

EXPLORE Your Understanding

Essential Question

- How can one ensure entrepreneurial success?

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 Content Standard

- The learner demonstrates understanding of Personal

Entrepreneurial Competencies (PECs)

Performance Standard

- The learner prepares an activity plan that addresses his/her

development areas based on his/her PECs and improves further
his/her areas of strength.
Guide Questions:

1. Why is there a need to assess one’s personal characteristics, attributes,

lifestyles, skills and traits?

2. What are the personal entrepreneurial competencies of a successful

entrepreneur?

3. Why is it necessary to compare one’s personal characteristics, attributes,

lifestyles, skills and traits with the personal entrepreneurial competencies
of a successful entrepreneur?

4. How do you relate your PECs to the PECs of a successful entrepreneur?

5. Based on the data that you have gathered from the interview with the
successful entrepreneur in your community, how do you develop your
PECs?

6. Can you prepare an action plan that addresses your areas of

development and strength based on your PECs?

7. How does your action plan help sustain your strong areas and / or
address your development areas based on your PECs?

Hello there! Are you ready to assess yourself to become a

successful entrepreneur in the future? As honestly as you can,
please answer the pre-assessment below.
 Pre- Assessment

A. Matching Type

Directions: Column A lists the characteristics of a successful entrepreneur.

Draw a line from each of the items in Column A that connects to
each of the correct definition of terms listed in Column B.

Column A Column B

1. Hardworking a. Ability to set realistic targets b.

Interest in money generation
2. Self-Confident c. To succeed, one must believe in
one’s self
3. Profit-Oriented
d. Working diligently and industriously e.
4. Goal-Oriented Being able to heed the advice of
others
5. Persistent f. Obtaining useful comments and
advice from others
6. Responds to feedback g. Being patient as one strives to
achieve the goal
7. Willing to listen
h. Ability to take measures or
8. Committed calculated threats
i. Being honest, fair, and trustworthy
9. Reliable and has j. A major characteristic that is a
priority in the entrepreneur’s life
integrity

10. Risk-Taker

Are you done? This time you will do another set of pre-
assessment which could give you a better understanding of what
this module is all about. Are you ready? Let’s begin!
 Multiple Choice.

Directions: Read and study the situation that describes entrepreneurial

characteristics or attributes. Answer the question by writing the
letter of your choice in your assignment notebook or on the
answer sheet provided.

Ms. Gillian Myles opens up her own retail business. She knows that her
personal entrepreneurial characteristics are insufficient to ensure the
successful operationalization of a business that she has in mind. Your
answers to the questions below will help in developing her PECs.

1. What PECs must she possess if there are customers who complain
about the quality of her product?
a. Patience
b. Hardwork
c. Versatility
d. All of the above
2. Which of the following is NOT considered as a characteristic of an
entrepreneur?
a. Copes with failure
b. Dependent
c. Persistent
d. Opportunity seeker
3. If she wants to ensure a profitable business operation, what
characteristic will she maintain?
a. Commited
b. Goal oriented
c. Futuristic
d. Opportunity seeker
4. Ms. Gillian follows the advice of a friend to be flexible especially if she
intends to open a retail business. What PECs has been demonstrated
by Mrs. Magno?
 a. Self- Confidence
b. Reliable and integrity
c. Open to feedback
d. Oppenes to Persistence
5. She tells Mary, her best friend that she has a strong will and does not give
up finding a solution to a business problem. What PECs has been
demonstrated by Mrs. Magno?
a. Hard work
b. Persistence
c. Self-Confidence
d. Risk- Taking

This time evaluate your own personal entrepreneurial

characteristics to determine whether you too, can become an
entrepreneur. If you are ready, you may begin!

C. Self- Assessment

Directions: Below is a list of Personal Entrepreneurial Competencies (PECs) of

a successful entrepreneur. Put a check mark in the 2nd column
that indicates your strong PECs. The check mark in the 3rd column
are those PECs that need to be developed.

My Personal Entrepreneurial Competencies

Personal Entrepreneurial
Competencies of an
Entrepreneur Strength Need to be Developed

Hardworking
Self-Confident
Builds for the future
Profit-Oriented
 Goal-Oriented
Persistent
Copes with failure
Responds to feedback
Demonstrates initiative
Willing to listen
Sets own standards
Copes with uncertainty
Committed
Builds on strengths
Reliable and has integrity
Risk-Taker

Did you enjoy examining your PECs? You can become a

successful entrepreneur someday. Please don’t feel badly
when you discover that some of these are still to be
developed. Continue your exploration to find answers to how
to improve on these underdeveloped PECs.

Lesson 1. Important Entrepreneurial Traits

The following are the fundamental characteristics of an entrepreneur:

1. Hard working: If you are determined to run your own business, you
must concentrate on your work either as a producer or a seller. The
success of your business depends on how much time and effort you will
spend on it.
2. Self- Confident: You must have a strong faith in your ability despite the
problems that you will encounter along the way.
3. Future-Oriented: Once you enter in a line of business, you must
understand that you are in a non-stop contract as an entrepreneur. It may
take several years to develop a business to a reasonable standard. The
goal for most successful business people is to build a secure job and
ensure a stable income for themselves based on their own ability.
4. Profit-Oriented: When you enter the world of business, you are
obviously looking for what you know will be your bread and butter, not
only for you, but also for your family. Therefore, you must see to it that the
business can generate enough income. Another plan of action is to
expand your own business through the use of your generated income.
5. Goal-Oriented: An entrepreneur is forward looking. You need advanced
preparation for your business. You set a long-term goal for the activities
that are needed, an extensive preparation for the production process and
procedures that you need to go through to acquire human and non-human
resources. Everything in your business will have to be set
clearly, organized, and planned depending on the goal you want to
achieve.
6. Persistent: Differences in opinion and judgment may vary. Your opponent
can be part of the rejection about what you intend to do for your endeavor.
As an entrepreneur, you must be firm, strong-willed, and be able to stick
to or follow your own belief.
7. Copes with Failure: “Learn from mistakes”. As an entrepreneur, you
must learn how to deal with the frustrations and failures. Instead, turn
these into productive learning experiences.
8. Responds to Feedback or Is open to Feedback: You must be
concerned about knowing how well you are doing and keep track of your
performance. You must obtain useful feedback and advice from other
people.
9. Takes the Initiative: A successful entrepreneur takes the initiative. You
must put yourself in a position where you personally are responsible for
the failure or success of your business.
10. Willing to Listen: Take time to listen to the advice, suggestions, and
recommendations of fellow entrepreneurs. These will help your business
grow.
11. Sets Own Standards: This involves developing and using logical, step-
by-
step plans to reach the goals, or offering evaluation alternatives,
monitoring progress, and switching to successful strategies for the goal
you want to
 achieve. To be a successful entrepreneur you must take into
consideration that sales and production depend on your own standards.
12. Copes with Uncertainty: Pursue your vision to be a successful
entrepreneur, you should know how to handle unusual events that may
happen in the business which include problems in managing the workers,
problems on the delivery of goods and services, and the problems on
demand and production. You must be patient in dealing with these
uncertainties.
13. Committed: You should know that in your business, personal needs,
attachment to your friends, families and relatives are set aside. You must
separate the money for your business from the amount that you need to
spend for personal obligations and lifestyle.
14. Builds on Strengths: Successful business people base their work on
strengths. Use your manual skills, knowledge in creating products or
services, knowledge in trade and industry, ability to make and use a wide
network of contacts to build your business.
15. Reliable and has Integrity: As an entrepreneur, to make a
wide network…you must build a good reputation, possess the courage to
do the right thing, do what you say, walk your talk, be loyal, and be fair in
dealing with subordinates and costumers.
16. Risk-Taker: Risk sometimes cannot be anticipated. When
misfortunes happen, consider these as challenges and work them out and
set good alternatives. Risks may result in loss of your business or even
bankruptcy.
FIRM UP your Understanding

Activity 1: Assessing the PECs of a Practitioner

Direction: Refer from Activity 2 (Aligning ones PECs) on page 10 to perform the
following tasks:

1. select the appropriate characteristics and traits which you feel best
describe a successful practitioner of contact center servicing in your town.
Write down all the descriptions on the second column;
2. after having completed the list in column two, think of your personal
assessment of a successful practitioner by reflecting it on the third
column. This assessment would give you a good idea of significant
characteristics
and traits that a successful practitioner must possess.

Practitioner Assessment

-
-
-
Characteristics
-
-
-
-
-
Traits
-
-

Activity 2: Aligning one’s PECs

Directions: Choose from the list below the characteristics and traits that best
describe your own personal entrepreneurial characteristics. Find
ways to align them according to the personal entrepreneurial
characteristics of an entrepreneur which were discussed earlier.
Write your answers in the activity sheet provided.
Creative Resourceful Persistent Organized Independent

Confident Ris-Taker Observant Competent Trustworthy

Optimistic Passionate Flexible Sensitive Committed

Dynamic Efficient Hardworking Decision-Maker Reliable

Knowledgeable Persevering Decisive Strong–Minded Courteous

Try to design a concept map that indicates your traits,

characteristics’ and skills that you need to possess in order to
become a successful entrepreneur.

My PECs
Things to do to align with PECs of a
My PECs My simple definition successful entrepreneur/practitioner
1. Creative
2. Organized
3. Competent
4. Observant

Activity 3. My PECs that need to be further improved

Directions: At the junction in the street are arrows where positive and negative
characteristics and traits are written. Pick out the positive PECs
that are already strong in you, and write them down on the blank
arrows on the left side, “right way”. PECs written on the arrows at
the right side are the weak characteristics that need to be further
improved, “road to improvement.”
DEEPEN Your Understanding

Lesson 1 Strengthening your Identified PECs

Here are your guides on how to strengthen your own PECs.

1. React positively to criticisms and open to feedback.

2. Always demonstrate positive attitude to achieve a desired goal.
3. Always project a strong and well-balanced behavior.
4. Always exercise an assertive style in your work environment.
5. Avoid being too passive and too aggressive.

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 6. Don’t let anyone worsen your business life.
7. Prioritize your business goal rather than personal goal in order to become
a successful entrepreneur.
8. Acquire specific skills for creating and maintaining a conducive work
environment.
9. Be responsible in everything you do in your business.
10. Always observe business ethics in putting up a business.

Hello! I’m here once again reminding you whether you have
achieved a certain point that you could honestly tell that you are
already successful in strengthening your own PECs. Let’ s see…

Activity 1: My techniques to strengthen PECs

Directions: From the given chart below, write at least six techniques that would
allow you to strengthen your own PECs. Write the PECs that you
feel that you still need to focus on to strengthen these.

Example: Self-confidence

Self-
confidence
Preparation of an Action Plan

Culminating Activity

Directions: Examine yourself as an entrepreneur / business person once

again. Make a short list of PECs that you need to strengthen. From this activity,
prepare an action plan that requires further development. You may opt to
follow the suggested format below. You may improve or change it for so long as
it suits your own plan of action.

Sample Action Plan

Specific Purpose Statement: ( Your vision of your future)

Ex. Developing self-confidence in retail business.
Focus Current Measures Actions Time Reward/
Goal

Area Situation of Success Required Frame Recognition

My PECs I need to - To Achieve -Selling -During -Earns

develop my exercise 100% finished culminating expected
undefined my own completion of products activities income
characteris- PECs development derived from -After -Outstanding
tics need for during of my own culminating learning performance in
my retail selling and PECs through activities in the selling and
business. producing selling and any of chosen principles, promoting
such as: products/ production of career. theories, products and
_ services products, -Participate processes of services
_ -To become proper manner in skills any chosen
proficient in when dealing competition business /
my chosen with people. sponsored by entreprise
skill. the NGO and
GO

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Post-Assessment

Answer the post assessment questions below to determine whether

there is significant increase in your understanding of PECs. The
feedback to this post assessment is appended on page 16. Good
Luck!

A. Matching Type

Directions: Column A lists the characteristics of a successful entrepreneur.

Draw a line from the items in Column A that connects the correct
definition of terms listed in Column B.

Column A Column B

1. Hardworking a. Ability to set realistic targets b.

Interest in money generation
2. Self-Confident c. To succeed, one must believe in one’s
self
3. Profit-Oriented
d. Working diligently and industriously
4. Goal-Oriented e. Being able to heed the advice of others f.
Obtaining useful comments and advice
5. Persistent from others
g. Being patient as one strives to achieve
6. Responds to feedback the goal
h. Ability to take measures or calculated
7. Willing to listen
threats
8. Committed i. Being honest, fair, and trustworthy
j. A major characteristic that is a priority in
9. Reliable and has the entrepreneur’s life

integrity

10. Risk-Taker
B. Multiple Choice.

Directions: Read and study the situation that describes entrepreneurial

characteristics or attributes. Answer the question by writing the
letter of your choice in your assignment notebook or on the
answer sheet provided.

Ms. Gillian Myles opens up her own retail business. She knows that her
personal entrepreneurial characteristics are insufficient to ensure the
successful operationalization of a business that she has in mind. Your
answers to the questions below will help in developing her PECs.

1. What PECs must she possess if there are customers who complain
about the quality of her product?
a. Patience
b. Hardwork
c. Versatility
d. All of the above
2. Which of the following is NOT considered as a characteristic of
an entrepreneur?
a. Copes with failure
b. Dependent
c. Persistent
d. Opportunity seeker
3. If she wants to ensure a profitable business operation, what
characteristic will she maintain?
a. Commited
b. Goal oriented
c. Futuristic
d. Opportunity seeker
4. Ms. Gillian follows the advice of a friend to be flexible especially if she
intends to open a retail business. What PECs has been demonstrated by
Mrs. Magno?
a. Self- Confidence
b. Reliable and integrity

15 15
 c. Open to feedback
d. Oppenes to Persistence
5. She tells Mary, her best friend that she has a strong will and does not give
up finding a solution to a business problem. What PECs has been
demonstrated by Mrs. Magno?
a. Hard work
b. Persistence
c. Self-Confidence
d. Risk-Taking

Feedback

Pre-assessment/ Post- assessment

A. Matching Type

1.d 6. f

2.c 7. e

3.b 8. j

4.a 9. i

5.g 10. h

B. Multiple Choice

1. a

2. b

3. d

4. c

5. b