Module 1 Lesson 1 – Assessment of Personal competencies and Skills (PECs).pptx

Module 1 Lesson 1 – Assessment of Personal competencies and Skills (PECs).pptx

1. Introduction Entrepreneurship is a process of innovation and new venture creation. Through four major dimensions – individual, organization, environment, process – and aided by collaborative networks in government, education and institution. All of the macro and micro positions of entrepreneurial thought must be considered in recognizing and seizing opportunities that can be converted into marketable ideas capable of competing for implementation in today’s economy ( Kuratko and Hodgetts, 1989).

2. Introduction In more simple terms, entrepreneurship is both an art and science of converting ideas into marketable goods and services to improve man’s quality of life. It involves the systematic organization/utilization of mater ials, machine, money and man in the accumulation of more wealth.

3. Introduction Entrepreneurs are people who have the ability to see and evaluate business opportunities, to gather the necessary resources and take advantage of them and to evaluate appropriate action to ensure success (Meredith et al., 1987). Entrepreneurs are people who innovate (Schumpeter, 1934), who allocate and manage the factors of production and bear risks ( M arshall, 1920)

4. Introduction Entrepreneurs are people who have the ability to perceive latent economic opportunities (Cole, 1959), who conceive the ideas of business design, the organization of the firm, accumulate capital, recruit labor, establish relations with suppliers, customers and the government and convert the conception into a functional organization (Hagen, 1968).

5. Introduction The entrepreneur is a catalyst for economic change, who uses purposeful searching, careful planning and sound judgement in carrying out the entrepreneurial process. Uniquely optimistic and committed, the entrepreneur works creatively to establish new resources or endow the old with a new capacity all for the purpose of creating wealth ( Kuratko and Hodgetts, 1989).

6. Introduction All the definitions of various authors of entrepreneur sum up to what is known as “ PERSONAL ENTREPRENEURIAL COMPETENCIES” put together and developed by McBear and Co. (1986) and still being studied by various researchers all over the world.

7. ACTIVITY #1- INTERVIEW SEE SAMPLE QUESTIONS

8. ACTIVITY #2 Directions: Copy the table below in your portfolio. Gather the needed information from the interview to supply answer/s to row 1 in the table below, after which, fill out the second row with your PECs.

9. Using the information on the table above, analyze and reflect on the similarities and differences in your answers. Put your reflection on the table you copied in your Portfolio. Write your conclusion on the space provided. Conclusion: _______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________.

10. ACTIVITY # 3 Essential Questions Directions: Read and study the following questions below. Write your answer in your Portfolio. Why is there a need to compare and align one’s PECs with the PECs of a successful entrepreneur ? How does your action plan help sustain your strong PECs and/or address your development areas ? What plan of action will you utilize to address your development areas?

11. Source: https:// www.slideshare.net/eivyportuguez/personal-entrepreneurial-competencies-pecs https://www.google.com/search?q=Personal+Entrepreneurial+Competencies+% 28PECs%29+ppt&sxsrf Module 1 & 2 Personal Entrepreneurial Competencies (PECs)