According to my research, listed below are the following entrepreneurial characteristics under PEC with their explanations and examples.
1. Initiative
The entrepreneur should be able to take actions that go beyond his job requirements and to act faster. He/she is always ahead of others and able to become a leader in the field of business.
Examples
Does things before being asked or compelled by the situation.
Acts to extend the business into new areas, products or services
2. Sees and acts on opportunities
An entrepreneur always looking for and taking action on opportunities.
Examples
Sees and acts on new business opportunities
Seizes unusual opportunities to obtain financing, equipment, land, work space or assistance
3. Persistence
An entrepreneur is able to make repeated efforts or to take different actions to overcome an obstacle that get in the way of reaching goals.
Examples
Takes repeated or different actions to overcome an obstacle
Takes action in the face of a significant obstacle
4. Information Seeking
An entrepreneur is able to take action on how to seek information to help achieve business objectives or clarify business problems.
Examples
Does personal research on how to provide a product or service
Consults experts or experienced persons to get relevant information
Seeks information or asks questions to clarify a client's or a supplier's need
Personally undertakes market research, analysis or investigation
Uses contacts or information networks to obtain useful information
5. Concern for High Quality of Work
An entrepreneur acts to do things that meet certain standards of excellence which gives him greater satisfaction.
Examples
States a desire to produce or sell a top or better quality product or service
Compares own work or own company's work favorably to that of others
6. Commitment to Work Contract
An entrepreneur places the highest priority on getting a job completed.
Examples
Makes personal sacrifice or expends extraordinary effort to complete a job
Accepts full responsibility for problems in completing a job for customers
Pitches in with workers or works in their place to get the job done
Expresses a concern for satisfying the customer
7. Efficiency Orientation
A successful entrepreneur always finds ways to do things faster or with fewer resources or at a lower cost.
Examples
Looks for or finds ways to do things faster or at less cost
Uses information or business tools to improve efficiency
Expresses concern about costs vs. benefits of some improvement, change, or course of action
8. Systematic Planning
An entrepreneur develops and uses logical, step-by-step plans to reach goals.
Examples
Plans by breaking a large task down into sub-tasks
Develops plans that anticipate obstacles
Evaluate alternatives
Takes a logical and systematic approach to activities
9. Problem Solving
A successful entrepreneur identifies new and potentially unique ideas to achieve his goals.
Example
Switches to an alternative strategy to reach a goal
Generates new ideas or innovative solutions
10. Self-Confidence
A successful entrepreneur has a strong belief in self and own abilities.
Examples
Expresses confidence in own ability to complete a task or meet a challenge
Sticks with own judgment in the face of opposition or early lack of success
11. Assertiveness
An entrepreneur confronts problems and issues with others directly.
Examples
Confronts problems with others directly
Tells others what they have to do
Reprimands or disciplines those failing to perform as expected
12. Persuasion
An entrepreneur can successfully persuade or influence others for mobilizing resources, obtaining inputs, organizing productions and selling his products or services.
Examples
Convinces someone to buy a product or service
Convinces someone to provide financing
Convinces someone to do something else that he would like that person to do
Asserts own competence, reliability, or other personal or company qualities
Asserts strong confidence in own company's products or services
13. Use of Influence Strategies
An entrepreneur is able to make use of influential people to reach his business goals.
Examples
Acts to develop business contracts
Uses influential people as agents to accomplish own objectives
Selectively limits the information given to others
Uses a strategy to influence or persuade others
Explain how having the Personal Entrepreneurial Competencies can help you become a successful entrepreneur.
Entrepreneurship can be understood as an ability to build economic value-added such as ability to earn money, attract investment and to get potential consumers of products interested in one’s activity. Having PEC’s guides you on how to handle business in a more efficient and effective way.
An entrepreneur is able to make use of influential people to reach his business goals.
Examples
Acts to develop business contracts
Uses influential people as agents to accomplish own objectives
Selectively limits the information given to others
Uses a strategy to influence or persuade others
Explain how having the Personal Entrepreneurial Competencies can help you become a successful entrepreneur.
Entrepreneurship can be understood as an ability to build economic value-added such as ability to earn money, attract investment and to get potential consumers of products interested in one’s activity. Having PEC’s guides you on how to handle business in a more efficient and effective way.
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