1. Evaluate the different entrepreneurial characteristics under PEC's. How does applying similar characteristics help us succeed in the other areas of life? Explain your answers by giving examples.
Answer:
1. Vigilance for Opportunities
2. Commitment to work contract
3. Persistence
4. Willingness to take risk
5. Demand for efficiency and quality
6. Goal setting
7. Information Seeking
8. Systematic Planning and Monitoring
9. Persuasion and Networking
10. Self Confidence
Being vigilant to opportunities that will help in a person's success, taking the risk whether the result of the action is negative or positive as long as he is committed and focused on his goals with self confidence helps a person succeed in any endeavor he indulges in. An example of which would be a plain housewife whose only wish is to help augment in her family's income. She decided to use her ability to bake cookies to sell to her neighbors and friends. Because of her willingness to take the risk at venturing into this home-based business, she took it also as an opportunity for her to earn her own money, therefore helping her husband in their family expenses through her determination to earn even in a simple manner as using her talent in baking.
2. Explain how having the Personal Entrepreneurial Competencies can help you become a successful entrepreneur.
Answer:
Anybody can be a successful entrepreneur as long as he possesses the PEC's, even if he does not come from an entrepreneurial family. A good example would be those who previously had a regular income working in a company and decided later on to resign from their job because they want to seek new opportunities. They decided to enter into the now in demand food cart business because they also want to become their own boss someday. They willingly took the risk in resigning from their regular job to put up their own business using the separation pay they got from the previous company they worked for.
That Is I dont know,,, All?
=)
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