Technopreneurship Bsce 3a and 3b

Technopreneurship
A. What is Technopreneurship?
B. Importance of Technopreneurship
C. Technopreneurship’s Role in the Country’s

Economic Development
D.Examples of Technopreneur
E. How to Become a Successful Technopreneur?
Emma D. Aspiras,PhD
Quirino State University
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Technopreneurship
A. WHAT IS TECHNOPRENEURSHIP?
Technopreneurship
The concept of Technopreneurship is a merging point and interdisciplinary area
of interest of entrepreneurship, technology, and innovation. The concept emerges
naturally, as recent development trend of all the above. Technopreneurship is actually
technology-based entrepreneurship (Scarlat, 2014).
The term technopreneurship is a combination of the words ‘technology’ and

‘entrepreneurship’. It is a type of technology-related entrepreneurship. However, unlike
entrepreneurship which may often be a one-person show, it requires tech-savvy,
creative, imaginative people who can take on a calculated risk.
A technopreneur in today’s world starts their business with little more than a
brainstorming notion. They examine current methods and consider some fresh ideas for
doing things differently. Therefore, technopreneurship involves the creation of a
product or solution that employs technology solutions to transform the way people do
things in a traditional method.
B. IMPORTANCE OF TECHNOPRENEURSHIP
Because nothing in this world is permanent, even the innovations we imagine or

produce, we must modify what we already have in order to generate something new for
the people or anything new that aids in the development or improvement of our society.
In line with this, technopreneurship will be essential for any entrepreneur seeking
improvisation and a variety of other crucial features for their firm to be engaging.
Here are some important things for entrepreneurs to consider when it comes to
technopreneurship:
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1. Technology has enabled everything to be effectively managed, time-efficient, and

cost-effective in a company.
2. Entrepreneurs may come up with both odd and sensible ideas for their company;
thereby helping it expand in terms of profit, revenue, and other important business
metrics.
3. For many years to come, technopreneurship will continue to assist in finding work
by developing or inventing a new product.
C. TECHNOPRENEURSHIP’S ROLE IN THE COUNTRY'S ECONOMIC DEVELOPMENT
Technopreneurs play a significant role in the economy because they use

technology to create and improve goods, services, and manufacturing processes. These
include ICT and multimedia SMEs, seed-stage ICT and multimedia businesses, and ICT
and multimedia start-ups.
When firms start out, the pool of job prospects grows since they require labor to
manage all of their activities. Similarly, technopreneurship provides jobs and assists the
country in combating unemployment. It boosts the economy’s employment rate.
D. EXAMPLES OF TECHNOPRENEURS
To be successful, a technopreneur must frequently go above and beyond. Any

innovative idea might seem appealing, but the execution is what counts. Any
technopreneur must be willing to venture into unexplored territory and persevere. We’ll
show you tech entrepreneurs and the companies they started.
Uber
Uber Technologies Inc. is a mobile platform which enables its vast network and
technology to move people and commodities from one location to another. This means
that their mobility business offers not only ride-hailing but also freight services. In
addition, Uber is also a delivery company that provides food, groceries, and other
delivery services.
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Tesla, SpaceX and PayPal
Elon Musk rose to global prominence as CEO of Tesla Inc. (TSLA); CEO and main
designer of his space business SpaceX; and, most recently, as the richest person in the
world. As a technopreneur, Musk’s career has reached billions of gains in terms of tech
business.
Founding SpaceX in 2002 and investing in OpenAI, his latest ventures include
PayPal, a safe and secure online payment network that specializes in PalmPilot
payments. PayPal will go on to become one of Musk’s most profitable ventures.
Facebook
The most popular social networking program was created by Mark Zuckerberg,
an excellent technical coder who began doing technical work in high school. When
Zuckerberg and his associates were at Harvard University, they founded Facebook.
Microsoft
Bill Gates is a very successful technopreneur and the world’s richest person. He is
a self-made individual who runs a business and created Microsoft.
Google
Larry Page and Sergey Brin co-founded and launched Google in 1998. Google LLC
is a multinational technology corporation based in the United States that specializes in
artificial intelligence, search engines, and internet advertising, among other areas.
E. HOW TO BECOME A SUCCESSFUL TECHNOPRENEUR?
Technopreneurship is advancing in the corporate world by enabling virtual

workspaces throughout the world. Therefore, people who are into technopreneurship
create products that are simple to comprehend and utilize. These individuals have
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launched some of the most well-known firms in the world today; which include Google,
Apple, Facebook, Amazon, Tesla, and Gojek.
Innovation, not invention, is the key to success in the technopreneur realm. It

simply means solving issues with the instruments that currently exist to serve the world.
To be a technopreneur, specific skills are needed. In order to be successful, here are
some tips that you should heed.
1. Gain Full Tech Stack Knowledge

While this varies depending on the startup’s needs, it often encompasses
anything; from a thorough understanding of how the internet works to server
technologies, scalability factors, website expertise, analytics, and code container
management.
2. Be Persistent
Venturing into technopreneurship requires perseverance. Every great concept
has a basic beginning. But the only way to activate and transform it into a finished
product is to pursue it relentlessly. Then, fill it out on a regular basis.
3. Trust Intuition
Technopreneurs should believe in their instincts. They must be able to
instinctively envision and harvest invisible possibilities in situations where the rest of the
world only perceives difficulties in order to be successful.
4. Maintain Flexibility and Resilience

Failure is an inevitable aspect of entrepreneurship. Because there are so many
unknowns, certain setbacks are almost always unavoidable. Hence, it is critical to learn
from such events and take all precautions to avoid repeating them.
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5. Be Ready for Competition

Although the sector is competitive, a little ingenuity in what you do can assure
your success. There were social media sites that were prominent before Facebook and
Snapchat, but several have since vanished due to their inability to compete. Make sure
that your tech products are commercially viable.
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F. Evolution of Entrepreneurship
G. Who is an Entrepreneur?
H. The Filipino Entrepreneur
I. The Challenge to Entrepreneurs
J. Entrepreneurship and Education
K. Socio Economic Importance of Entrepreneurship
L. Advantages of Managing a Small Business
M. Disadvantages of Managing a Small Business
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A. EVOLUTION OF ENTREPRENEURSHIP
Let us start discussing concepts about “Entrepreneurship” by having a clear idea

on what entrepreneurship is all about. It is not really clear where and when
entrepreneurship started. Though the term entrepreneurship originated from the
French, there is an indication that entrepreneurship had already began even before
there was a term for it. It is believed that business and trade started before the French
had evolved as a people and as a nation.
Let us now look at the evolution of entrepreneurship over the years as have
been viewed by various economists including the year they conceptualized the view. As
cited by (Ernie Roy S. Azarcon et. al., 2008), these are the following:
CONTRIBUTOR AND CONTRIBUTION TO
YEAR OF CONTRIBUTION ENTREPRENEURSHIP THOUGHT
Jean Baptiste Say (1800) Entrepreneurship refers to the shifting of economic

resources out of an area of lower and into higher
productivity and greater yield.
Carl Menger (1871) Entrepreneurship involves obtaining information,
calculation, an act of will and supervision.
Joseph Schumpeter (1910) Entrepreneurship is the finding and promoting new
combinations of productive factors.
Harvey Liebenstein (1970) Entrepreneurship is the reduction of organizational
inefficiency.
Israel Kirzner (1975) Entrepreneurship is the identification of market
arbitrage opportunities.
Albert Shapiro (1975) Entrepreneurship involves a kind of behavior that
includes initiative taking, organizing and recognizing
social mechanism to turn resources and situations to
practical account and the acceptance of risks and
failures.
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Karl Vesper (1980) Entrepreneurship is the dynamic process of creating

incremental wealth.
W. Ed Mc Mullan and Entrepreneurship is the building of new growth
Wayne A. Long (1990) organization.
Howard Stevenson (1992) Entrepreneurship is the pursuit of opportunity beyond
the resources currently under one’s control.
Jeffrey Timmons (1994) Entrepreneurship is the ability to create and build a
vision from practically nothing.
Peter Drucker (1998) Entrepreneurship is the process of starting one’s own,
new and small business. It is also the process of
innovation and new venture creation through four
major dimensions – individual, organizational,
environmental, process- aided by collaborative networks
in government, education and institutions.
Robert Hisrisch (2001) Entrepreneurship involves the creation process, requires
the devotion of the necessary time and effort, assumes
the accompanying financial, psychic and social risks and
receives the resulting rewards of monetary and personal
satisfaction and independence.
B. WHO IS AN ENTREPRENEUR?
Based from the concepts of entrepreneurship discussed earlier, it is clear that

there are key terms associated in defining who an entrepreneur really is.
First, an entrepreneur is considered someone who has ideas and makes these
ideas come to life. This is why an entrepreneur is sometimes called an inventor
(somebody who creates something relatively new) or an innovator, (somebody who
makes existing things better).
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Second, an entrepreneur must have business skills. An entrepreneur must be

somebody who knows how to organize, manage, and combine various factors of
production. These skills are discussed throughout this book.
Third, an entrepreneur is someone who assumes risks. In this case, it is the
chance to lose money or investments. An entrepreneur must be somebody who knows
how to calculate risks and is willing to invest his resources in a business undertaking, he,
himself conceptualized, without the certainty of recovering his investment.
Fourth, an entrepreneur desires to make profit. An entrepreneur is somebody
who can spot opportunities, and turn these opportunities into profitable business
ventures. This desire to make profit is a characteristic of an entrepreneur that
differentiates him from an inventor or an innovator.
C. THE FILIPINO ENTREPRENEUR
Entrepreneurship in the Philippines, as previously colonized by Spain who

introduced trading business, as well as having been colonized, too, by the
Americans, Filipinos stand to duplicate how its former colonizers really undertake its
business activities. As cited by (Asor, 2009) , according to Dr. Orcullo Jr., Peter
Drucker reported that , "entrepreneurship is essentially starting a business of his
own, new and small scale business." Being no purely copy-- cat, however, there are
some differences and/or variations principally brought about by culture and
traditions which, unfortunately, some of which are constraints to
entrepreneurism.
A typical Filipino entrepreneur, as to various write ups and documentations

of various "successful entrepreneurs" have, in many ways, provided a
compendium of materials pointing to various traits and characteristics of a
successful Filipino business manor entrepreneur, quite obvious is that many of the
documented success stories were focused on the notion that entrepreneurship
means or refers to that of being engaged in small and medium enterprises or
establishing and managing a business of his own.
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D. THE CHALLENGE TO ENTREPRENEURS
In the previous decades where technology, globalization, and trade

liberalization did not play a dominant role, the third millennium is mainly
characterized by globalized trading system and the predominance of the
information technologies. This phase, according to (Orcullo, 2000) , is where the
real challenge for the entrepreneuristic persons and organizations in the so-called
"borderless world" is both a challenge and opportunity. Where the Filipino
entrepreneur used to develop and market his products locally, he is now faced
with local competition not anymore with Filipino entrepreneurs themselves, but
also with imported products and services now available in the local market.
Filipino entrepreneurs have to contend with casting out the colonial mentality of
the local market with its preference for imported brands. Where before it is
deemed a bit relatively difficult to export a locally made product, the
environment nowadays is such that it is conducive to developing and marketing
export quality products owing to the various incentives and supports available.
The resurgence and constantly improving information technology is a
development to watch, and its benefits are for entrepreneurs grab and exploit.
Entrepreneurship and innovation are important tools for productivity and
competitiveness vis-a-vis the large business organization and the foreign competitors in
general. The proliferation of computers both in offices and in households has
revolutionized business operations and systems, allowing every place practically a base
for business operations.
The third millennium is surely a challenging and exciting world for businessmen
with entrepreneurial orientation. It is an opportunity for stretching out the limits of
one’s brain. There is a lot of rooms for innovation, ventures creation, strategic position,
and business alliances and partnerships. Such a kind of scenario, which is characterized
by highly competitive market and with various technologies now available is the
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opportune time for outward-looking and quality conscious entrepreneurs and a doom
scenario for traditional management.
E. ENTREPRENEURSHIP AND EDUCATION
Problem on unemployment in the Philippines is continuing, a self-employment

and livelihood opportunity for every citizen is the cry of politicians and the unemployed.
It is in fact the continuing dilemma on the lack of job for everyone that
(Asor, 2009) further mentioned that more than just capitalizing or banking on
entrepreneurship as a potential cure to solve unemployment dilemma, the culture of
entrepreneurship has been made a part of the curricular offerings in some schools.
The need for policy shift of the educational sector, particularly in the area
of business education program, has been long-delayed. We now have new guidelines
for a degree program in Entrepreneurship.
The Council of Management Educators (COME), comprising of

academicians, has in some ways acknowledged entrepreneurship as part of the
management education. Recently, the Society for Entrepreneurship Education, Inc.
(SEED) has come into the arena of promoting entrepreneurship education both in
the formal and non-formal sectors.
F. SOCIO - ECONOMIC IMPORTANCE OF
Today, entrepreneurs play a major role as a provider of employment for the

entrepreneur himself and his immediate environment. The following are the roles of
small businesses for the development of our economy. They assume the following
functions:
1. Provides employment – A large percentage of the labor force are working in
small businesses.
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2. Provides taxes – every entrepreneur supports the government with the taxes
they pay, as well as performing other functions, thus contributing to the
economy.
3. Enhances equitable distribution of income - entrepreneurs succeeding in their
respective entrepreneurial endeavors, chances are, it is expected that there is
equitable distribution of income and wealth.
4. Improves quality of life - the entrepreneur's desire for development of new
product, redounds to the betterment of the products and services, thus
improving the quality of life.
5. Enhances competitive consciousness - innovation, as the core of entrepreneurship,
in the long term breeds quality and global competitiveness. An entrepreneur ,
does not only bring in competitiveness for his products and services but it goes
with it an aura and image that can benefit other people and sectors as well.
6. Enhances national identity - the quantity and quality of products and services
produced by every entrepreneur is a source of pride and identity for a country. It
is not only the entrepreneur that directly benefits from his entrepreneurial
endeavors, but the country also takes pride in the honor that goes with it.
7. Provides economic opportunities for entrepreneurs – Individuals who do not feel
comfortable as employees can engage in small business operation.
8. Provides products and services to consumers – the production of many
products and services is oftentimes not feasible with big and medium business
operation. These limited opportunities are naturally fitted for small businesses.
9. Supplies products and services to other businesses – Some businesses
require raw materials semi- finished parts, finished components, or even labor,
which they cannot economically produce. The small business performs
this task for them.
10. Distributes products and services of other business – Some manufacturers do not
have the ability to distribute their products and services. Many small businesses
assume this role for them.
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G. ADVANTAGES OF MANAGING A SMALL BUSINESS
Many people with an entrepreneurial spirit wish to open a small business. A

small business operator keeps long working hours and absorbs whatever damages that
happen as a result of his faulty decision-making. However, he is afforded the following
advantages:
1. opportunity to gain independence
2. opportunity to exercise full potential
3. opportunity to lower development costs
4. opportunity to unlimited profits
5. opportunity to quick market response
6. opportunity to make a contribution to society and receive recognition for his
efforts.
Opportunity to Gain Independence

One of the main reasons for an entrepreneur who opens a new small business is
to gain independence and become her own boss. Operating a small business also gives
the owner a measure of financial independence, allowing her to grow the business at
her own pace.
Opportunity to Exercise Full Potential
The employee will do his work based on prescribed targets which may only
require less than his full potential. This is not so with the small business operator. His
freedom to act is limited only by his potential and he can revise or amend his targets
within short notice.
Opportunity to Lower Development Costs
Operating a small business has the advantage of lower development costs. A

small business owner can develop the business incrementally, without having to spend a
large amount of money to start-up costs. A small business can be started out of the
home and gradually build a customer base before opening a retail location.
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Opportunity to Unlimited Profits

When the small business succeeds, all profits will go to the owner. If he is not
satisfied, he may exert more efforts to increase his profits. This opportunity is not
afforded to the plain employee.
Opportunity to Quick Market Response
A small business owner can act quickly to changes in the market. For instance, as
consumer trends move toward a particular product or specialized service, a small
business owner can incorporate those offerings into his business quickly whereas a large
corporation has to mount an extensive advertising campaign to accomplish the same
thing.
Opportunity to Make Contribution to Society and Receive Recognition for His Efforts
Entrepreneurs who make innovative products available to the public are
recognized properly by society. In the Philippines, a list of the most admired
entrepreneurs was mentioned by (Medina, 2014).
Exhibit 1
Most Admired Entrepreneurs in the Philippines (partial list)
Name Entrepreneurial Area Of Recognition
1. Jon Ramon Aboitiz Quality Management
2. Dr. Amable R. Aguiluz V ICT Education
3. Ferdinand V. Agustin RTW Retailing
4. Jonathan Aldeguer Souvenir Industry Innovation
5. Jaime Aristottle Alip Microfinance
6. Ricardo and Rosemarie Endres Candy Retailing
7. Michelle Asence Perfume Manufacturing
8. Senen Bacani Agribusiness
9. Filemon Barbasa Magazine-Comics Retailer
10. Romel Bautista Leather craft Manufacturing
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11. Steve Benitez Coffee Shop

12. Henry Lim Bon Liong Paper- Based products Manufacturing
13. Ruth S. Callanta Community Transformation
14. Ben Chan Production and Sales of Fashion Products
15. Oscar P. Chan Kitchen Cabinet Manufacturing
16. Walden Chu Food and Entertainment
17. Roberto S. Claudio Sports Equipment and Apparel Distribution
18. Alejandra C. Clemente Travel Agency
19. Jose S. Concepcion, Jr. Food Production
20. Ben Colayco Multiplayer Online Entertainment
21. Ricardo Y. Cuna Ice Cream Manufacture and Sales
22. Boni Comandante, Jr. Fish Transport
23. Rafyy David Call Center Support
24. Jonathan Y. Dee Tuna Canning
25. Erickson and Roxanne Farillas Women’s Wear Manufacturing
26. Margarita Fores Fine Dinning
27. Priscilla Florentino Property Development
28. Roberto R. Gandionco Bakery
29. Josie Go Fashion Garments Retailing
30. Andrew L. Gotainum, Sr. Real Estate and Banking
31. John Gokongwei, Jr. Manufacturing and Retailing
32. Lance Gokongwei Commercial Aviation
33. Felipe L. Gozon Multi-media Network
34. Sheree Roxas Chua Gotuaco Women’s Fashion
35. Susana Guerrero Food Service
36. Doris Magsaysay Ho Shipping
37. Rolando Hortaleza Manufacturing
38. Bernie H. Liu Clothes Manufacturing
39. Oscar M. Lopez Social Responsibility
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40. Martin Lorenzo Food Service

(Source: Philippine entrepreneur )
H. DISADVANTAGES OF MANAGING A SMALL BUSINESS
There are advantages accrue to the small business operators, but there are
certain disadvantages that must be considered. These are the following:
1. income is uncertain;
2. capital investment is at risk of losing;
3. lower quality of life is experienced at the start of business;
4. full responsibility of the owner;
5. dealing with undesirable costumers;
6. paperwork and other chores is done by owner; and
7. long hours and demanding work condition is expected.
Income Is Uncertain
Managing a small business does not provide the assurance of an income, unlike
getting employment which offers fixed monthly salaries.
Capital Investment Is At Risk of Losing

Deciding on your own makes the small business operator experience the
consequences of errors of judgment which in some cases could wipe out his investment.
The high rate of small business failures provides higher risk.
Lower Quality of Life is Experienced at the Start of Business
As the small business operator assembles the needed resources, starts actual
production and makes move to attract customers, income and profit are held uncertain
and the owner experiences a lower quality of life then.
Full Responsibility of the Owner
The owner-operator will take full responsibility for whatever happens to the
business. If the small business loses profit, it is his failure which he cannot pass the
blame to anybody else.
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Dealing with Undesirable Costumers

The small business operator doesn’t have freedom in his actions, he is not
entirely free. He doesn’t have the option to choose his customers. Even if a feeling of
displeasure with a particular costumer arises, he cannot just send him away or even
ignore him. He is expected to give his customers best service even if they are
discourteous.
Paperwork and Other Chores is Done by Owner
Big companies can hire several individuals to attend to specific duty related to
paperwork like bookkeeping or other unpleasant task. The small business operator is
forced to do this task himself to avoid additional cost.
Long Hours and Demanding Work Condition is Expected
It is a reality that a small business owner needs longer time of work to keep the
business going. If it cannot obtain sales volume within a short time frame every day, it
must provide longer time to its business hours to accommodate more customers. These
functions, under harsh working conditions, must be done by the small business operator.
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ASSESSMENT 1
Name:____________________________________ Score:_________
Course & Section: ___________________________ Date:__________
TRUE OR FALSE. The statements below determine your understanding about the history
of entrepreneurship. Put a check ( ⁄ ) on the space for TRUE if the statement is correct
or on the space for FALSE if the statement is wrong.
1. According to Jean Baptiste Say, entrepreneurship is the shifting of economic

resources out of an area of lower and into higher productivity and greater yield.
_____ TRUE _____ FALSE
2. Peter Drucker believes that entrepreneurship is the process of innovation and
new venture creation through four major dimensions – individual, organizational,
environmental and process.
3. Entrepreneurship involves the creation process, assumes the accompanying
financial, psychic and social risks and receives the resulting rewards of monetary
and personal satisfaction and independence as Robert Hisrisch mentioned.
4. The idea that entrepreneurship is the ability to create and build a vision from
practically nothing is contributed by Howard Stevenson.
5. Jeffrey Timmons agree to the thought that entrepreneurship is the pursuit of
opportunity beyond the resources currently under one’s control.
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6. As Carl Menger believed, entrepreneurship is promoting new combinations of

productive factors.
7. Entrepreneurship involves obtaining information, calculation, an act of will and
supervision as agreed by Joseph Schumpeter .
8. Karl Vesper mentioned that entrepreneurship is the process of creating
incremental wealth.
9. Entrepreneurship is the reduction of organizational inefficiency.
10. Entrepreneurship involves behavior that includes initiative taking, organizing and
recognizing social mechanism to turn resources and situations to practical
account and the acceptance of risks and failures.
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FILL IN THE BLANKS. The statements below describe an entrepreneur. Read each
statement properly and complete it by filling in the blanks the correct answer.
1. An entrepreneur is someone who has ________ , this is why an entrepreneur is

sometimes called an inventor or an innovator.
2. An entrepreneur must have business ______________ , for him to know how to
organize, manage, and combine various factors of production.
3. An entrepreneur is someone who assumes ___________ , and is willing to invest
his resources in a business undertaking he, himself conceptualized, without the
certainty of recovering his investment.
4. An entrepreneur desires to make ____________ , this desire is a characteristic of
an entrepreneur that differentiates him from an inventor or an innovator.
5. A typical Filipino entrepreneur, as to various documentations of successful
entrepreneurs have various traits and ________________________ , which
most successful Filipino entrepreneurs possessed.
6. Filipino entrepreneurs tend to engage in small and _________ enterprises.
7. Technology and globalization for entrepreneuristic persons and organizations in
the so-called “___________________”,_ is both a challenge and opportunity.
8. As the Filipino entrepreneur develops and markets his products locally, he is also
faced with local __________________ in the local market.
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9. Entrepreneurship and innovation are important tools for productivity and

______________________ in the large business organization and the foreign
competitors in general.
10. The third millennium is surely a challenging world for businessmen with
entrepreneurial ______________.
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QUESTIONS FOR DISCUSSION: Write your answers on the next pages.

1. How does entrepreneurship and education contribute to solve problem on
unemployment?
2. Why does entrepreneurship affects economic development?
3. What role does the entrepreneur play?
4. What are the challenges to entrepreneurs in the so-called “borderless world”?
Discuss.
5. Is entrepreneurship applicable only to small business? Why or why not?
6. What are the socio-economic impacts of entrepreneurship? Discuss.
7. What are the benefits of engaging into a business? Discuss.
8. What are the difficulties in managing small business? Discuss.
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RESEARCH ACTIVITY:
1. Conduct a survey in your area. Identify and list down at least five business
establishments which turned successful. Write the nature of business these
establishments are engaged in.
2. Prepare a list of five innovative products or services known in your local market.
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Below are pictures of small businesses owned by start-up entrepreneurs.

Identify the advantages and disadvantages you observed from the pictures.
Female owner of coffee African salesman Male chef

shop
Woman doing business at Female owner and male Businessman taking care
home worker of their baby in office
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ENTREPRENEURIAL
COMPETENCIES
A. Characteristics of an Entrepreneur
B. Entrepreneurial Traits
C. Categories of an Entrepreneur
D. Personal Entrepreneurial Competency
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A. CHARACTERISTICS OF AN ENTREPRENEUR **
This section was cited by (Azarcon, Ernie Roy S. et. al, 2008)
These characteristics should be possessed by successful entrepreneurs in order

to perform entrepreneurial functions effectively. The following have been identified as
the most prominent characteristics of surveyed entrepreneurs in various fields.
Characteristics of the Average Entrepreneur

1) An entrepreneur has a slight tendency to be the first-born or the eldest in the family.
This exposes the individual to more time alone with the parents without the rest of
the children.
2) Most entrepreneurs tend to be married individuals. The support of the spouse plays
a significant role in entrepreneurial success.
3) Although emerging trends dictate that more and more women are venturing into
business, men still generally outnumber women in this field.
4) Many entrepreneurs start their significant business ventures in their thirties – early
thirties for men, and late thirties for women.
5) The important characteristics of an entrepreneur, such as creativity, independence,
and the ability to handle uncertainty, apparently emerge during the individual’s
teenage years. The outstanding values and traits of the individual are most obvious
during these years.
6) The average educational attainment of entrepreneurs is a bachelor’s degree or a
college degree. In many countries, the educational attainment of an entrepreneur is
at par with that of the local population.
7) The need for independence is a primary driving force that allows the entrepreneur
to take the risks to work all the hours necessary to create a new business venture.
8) It has been found out that many entrepreneurs account their successes to a strong
relationship with parents, most especially with the father.
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9) Contrary to popular belief, many entrepreneurs believe in the need for luck – having
the right idea in the right place at the right time. Hard work, money and good ideas
may be necessary to be successful, but still would not be sufficient without luck.
10) Entrepreneurs and venture capitalists are usually in conflict. The goal of the
entrepreneur is to be independent and make the organization survive. The venture
capitalist’s goal is to invest money and make it earn on the average for no more than
five years.
11) Many entrepreneurs rely on professional management through external means. In
this way, the learning of the entrepreneur is enhanced through good mentors and
his feeling of being alone in the entrepreneurial undertaking is reduced.
12) Generally, entrepreneurs take pride in being doers. They like to use their creativity
to make their ideas materialize.
13) Successful entrepreneurs are known to take calculated risks. This is why
entrepreneurs are known to be moderate risk – takers.
14) Many entrepreneurs are known simply to be one with the group or to fit into the
crowd.
15) Entrepreneurs are known to fall in love with all of the above – new ideas, new
employees, new financial plans. In fact, entrepreneurs are known to fall in love with
anything new.
16) Rarely does it happen that entrepreneurs concentrate in just one single business
venture. It has been noted that many entrepreneurs tend to be successful in varied
business ventures. Once a venture is already running and profitable, entrepreneurs
look for newer challenges.
Many are confused what entrepreneurial characteristics are from
entrepreneurial traits. Characteristics are those we just discussed in the preceding
sections. The most crucial traits an entrepreneur should have, in order to succeed are as
follows:
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B. ENTREPRENEURIAL TRAITS
► Self-awareness ► Courage
► Self-motivation ► Confidence
► Patience ► Risk-taking
► Decisiveness ► Hard work
► Experience ► Vision
► Knowledge ► Optimism
► Perseverance ► Creativity
► Drive ► Resourcefulness
► Total commitment ► Innovation
► Maturity ► Emotional Balance
► Integrity
C. CATEGORIES OF AN ENTREPRENEUR
The following are the categories of an entrepreneur:
The Intrapreneur
He is an entrepreneur within an existing organization, referred to as the corporate

entrepreneur.
The Solo Self-Employed Individual
Includes all agents, repairmen, brokers, accountants, and physicians who operate
alone or with only few employees and perform work personally.
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The Dealers to Dealers
Include highly knowledgeable businessmen engaged in various forms of trades

frequently, directly or indirectly related to their line of work.
The Team Builders
Individuals who go on building larger companies using hiring and delegation.
The Independent Innovators
Include persons who hit upon ideas for better products or services and then
create companies to develop, produce, and sell these products.
The Pattern Multipliers
Entrepreneurs who spot an effective business pattern, quite possibly originated

by someone else, and multiply it to realize profits.
The Economy of Scale Exploiters
Entrepreneurs who locate their business in lower rent and tax areas.
The Capital Aggregators
Smart entrepreneurs who use their experience and expertise in pooling a group
of financiers to engage in a business.
The Acquirers
Entrepreneurs who acquire businesses.
The Independent Inventors
They include pure inventors who really developed their own product or invention
and take care of marketing them.
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The Buy & Sell Artists
They include wise guys referred to as corporate raiders and brokers who turn
around, sell, and liquidate.
Other Categories of Entrepreneur
Immigrant Entrepreneurs, Corporate Castoffs, Copreneurs, Cyber Entrepreneurs,

Part time Entrepreneurs, Home-based Business Owners.
D. PERSONAL ENTREPRENEURIAL COMPETENCY (PEC)
Personal Entrepreneurial Competencies (PECs) may be grouped into three

general clusters. These are the following:
Achievement Cluster
 Opportunity Seeking
 Persistence
 Commitment To Work
 Demand Efficiency And Quality
 Risk Taking
Planning Cluster
 Goal Setting
 Information Seeking
 Systematic Planning And Monitoring
Power Cluster
 Persuasion And Networking

 Self-Confidence
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Achievement Cluster
1.) Opportunity Seeking
It refers to an entrepreneur’s basic skill of being able to quickly spot and

identify possible profitable business endeavors. He must be capable of assessing a
market situation, seeing discrepancies between current production processes,
market demands, gaps between sellers and buyers, and knowing how to turn the
market situation into a profitable business venture.
A successful entrepreneur actively looks for and goes after ideas that can be
turned into opportunities. It has been observed that many entrepreneurs have
multiple business enterprises and, especially after being able to successfully put up
one or two, look for the other challenges.
If you actively seek opportunities, you will find customers or markets where
other people find none, and also discover new uses for old products, including waste
products.
A few practical ways of actively seeking opportunities are given below:
 Continuously observe your environment. Look out for trends, situations and
events from where you can get yourself some ideas. Enjoy long walks and
periodic travels. Ideas are bound to be along the way.
 Have a broad range of reading materials – from newspapers, magazines,
digests, books, and even research and internet materials. Valuable ideas pop
up from these.
 Attend local and national seminars, workshops, and conferences. The more
varied your interaction is with people, the more ideas you get, and the bigger
the network you can develop. Always carry business cards with you and be
ready to distribute it. Partnerships develop easier when done informally.
 Spend time using and developing your imagination. It pays to be creative.
Many products are called “brainchilds” because they literally originated from
the brain of one person. Remember, what the mind can conceive, the hand
can achieve.
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2) Persistence
It pertains to how preserving one can be, despite many obstacles and failed
attempts to be successful. An entrepreneur does not easily lose heart or give up, and
is constantly willing to try and try again until he succeeds.
Persistence is also trying to do something even if other people say that you
are likely to fail. It means not being afraid of hard work. It also means not being
afraid to fail because you can try again.
To develop this virtue, take the following suggestions:
 Do not give in quickly when someone disagrees with you. If you are sure of
your stand, do not give in to what the other person says without thinking
about it. Don’t get angry with someone who does not agree with you. The
more calm and composed you are, the easier you can persuade and
convince the other person. Do not use bad-mouthing techniques, as this
will rebound towards you. It is your credibility that is at stake.
 Practice mind-setting techniques. If you don’t know where you are going,
you will never get there. Set a realistic goal and achieve it in the most
efficient way (i.e. least effort and costs). If it helps, reward yourself a little
each time you achieve an important goal. Do not, however, reward yourself
if you haven’t achieved it yet.
 Daily, weekly, and monthly task lists and deadlines might help in achieving
your set goals. Remember, the more you breakdown a bigger goal, the
easier it becomes to achieve it. Don’t postpone for tomorrow what you can
do for today. If you can, do today what is set for tomorrow. If you lag
behind, still try your best still to accomplish your tasks on your set deadline.
 Make it a habit to be a go-better. This is the secret of many successful
individuals. Once you are sure of where you are going and your plan is clear
to you, let nothing stop you. Once in a while, it is advisable to evaluate your
goals and your plans. If you are on track, go get it.
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3) Commitment To The Work Contract

It refers to an entrepreneur keeping his word or his promise. His word is his
bond. He makes sure he can deliver what he says he can, no matter what condition
he may be in.
Only make promises you know you can keep, and keep them. If you are in
doubt of your ability to keep a promise, don’t make that promise. Making and
keeping a promise can become a habit.
Commitment takes maturity and strength of character. Put a high value on
your word of honor. This is how you can develop your credibility. As much as
possible, try to mingle and transact with people who value the same. Remember,
birds of the same feather tend to flock together.
When you foresee you cannot deliver a promise, notify the concerned
party (ies) immediately. They would appreciate that you informed them. Whenever
possible, try to make up for promises you were not able to keep. This may be done
with quantity discounts, cash discounts, or other incentives. Be willing to take some
losses if necessary, just to keep your customers. You do not want your customers
taking their business elsewhere.
Try your best in cultivating the trust in and from others. Be sincere with
what you say. Apologize sincerely and make a truthful and sincere explanation in
case you are not able to keep your word on something. Make sure that it doesn’t
happen again. Clarifying expectations from each other, helps in keeping a
commitment. If given a second chance, make sure you don’t waste it. Your second
chances may never come again.
4) Demand For Quality And Efficiency
An entrepreneur is a person who exacts from himself and others a set of
standard for class and workmanship. He is known to produce consistent results as
required by his clients, achieving customer satisfaction without unnecessary
wastage.
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A good entrepreneur knows what quality is all about. He exacts this not
only for employees but also for himself. He sets an example to his subordinate, and
tries his best in developing a culture of quality and efficiency in his organization.
Consistency is a very good indicator of quality. When standards are set,
always conform to standards and don’t settle for anything less. Margins of error
may be allowed, but make sure that these margins are not too lenient. These errors
should be avoided, diminishing over time. Lesser errors mean higher quality and
efficiency.
Never present a shabby output to your customers. It would be better not
to present anything yet if you know that your image and reputation for quality will
be affected. Make sure that everything is in order, and that everything is prepared
before making a presentation.
Remember the principle of garbage in- garbage out. If you use non-quality
inputs and/ or a non- quality process, you will have a non-quality output. Quality
should always start from the source. Quality inputs used in quality process will most
probably yield quality outputs.
Conduct a periodic evaluation of your machines and equipment. Defective
equipment will not only delay production, it will also be a source or wastage for
your company. Invest in the regular maintenance for your equipment. More often
than not, the costs of maintenance are much smaller than the related costs of
equipment breakdown. If the costs of maintenance are becoming bigger and more
frequent, perhaps it is time to evaluate the economy of purchasing newer machines.
5) Risk Taking
An entrepreneur knows how to assess the hazards and threat as of the
situation, and carefully calculates his chances of success and profits. He does not
hastily decide, but makes a decision based on the action’s costs and benefits. If the
perceived risks are of a moderate nature, he takes it.
Risks are always present in the decisions you make, especially as
entrepreneurs. Before making major decisions, it would always be wise for you to
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assess the risks involved. Whenever possible, quantify your decisions. Numbers
help a lot in decision making, especially in business.
If you have the chance, learn more about the various methods and
techniques that can be employed in evaluating options and making good decisions.
When unsure about your decided course of action, try your best to consult
an expert or people whom you know have encountered the same situation you are
now being faced with. There is wisdom in learning from personal experience, but
nobody ever said that you couldn’t learn from the experiences of others.
Sometimes, even appropriate offices hold vital information readily available for
your perusal. Always exercise due prudence.
When in doubt about a major decision, postpone it. It is better to make a
late decision that to make a quick decision that you will regret later. Providing
reasonable time allowances also helps. Contingency planning also helps in
cushioning the impact of wrong decisions.
Never make an uninformed decision. It pays to be pessimistic and skeptic at
times. Be critical with the information you obtain. If an opportunity is too good
sounding, expect that there is another story you are not hearing. The more realistic
the situation is ( hearing both the positive and negative sides), the closer to reality
you are. Never believe news or information that is one-sided.
Most people, including entrepreneurs, take calculated and moderate risks.
So take your time in calculating and factoring in all important elements, and don’t
take too little nor too much risk.
Planning Cluster
6) Goal Setting
It refers to an entrepreneur’s ability to set realistic and attainable objectives.
An entrepreneur is a go-better. He sets his heart on something and makes sure he
can achieve it.
In setting your goals, remember the following:
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Be realistic. Know your strengths and weaknesses as well as the support and
obstacles present in your environment. Once you achieve a goal, don’t stop. Set yet
another bigger and more challenging goal. Remember, the limits you have may only
be those you impose upon yourself or your organization.
Be self-reliant. Do not aim for something which depends solely on many
other people and circumstances for its attainment. Make sure that you are always
part of the entire effort. The amount of effort you put spells out the amount of
success you attain. Thus, it follows that the more effort you give, the more success
is due you.
Master the principle of synergy. Your personal effort, combined with the
effort of many others, will always result to a greater result and greater success than
the individual successes when each one works individually.
It pays to right down your goal. A good goal or plan should always be
coupled with pen and paper. This is known as the three P’s of planning. Writing
down goals signify your seriousness in attaining it. The more senses you use (i.e.
eyesight, touch, perception) the more you internalize your goal further.
Set a date. The difference between a goal and a dream is that a goal is a
dream with a date. Many dreams are never attained because they are never given a
deadline. Plans and goals must always be time-based.
7) Information Seeking
An entrepreneur constantly updates himself with relevant facts from varied
sources. He must be aware of past, current and future issues affecting his
enterprise. He makes sure he gathers all needed facts before making an informed
decision.
A key characteristic of an entrepreneur is his ability to obtain the correct
information at a proper time. An entrepreneur knows where and how to get his
information. He has to do his homework. His network should not only extend to
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business transactions but also to a strong information network. Many successful

business communities (e.g. Chinese) are strong in this aspect.
An entrepreneur always has to open eyes and ears. He should always be alert
to trends, and should always be up-to-date. He has varied sources of information,
both from authoritative sources, and from the so-called “common-tao.”
The entrepreneur believes in the principle that to control his business, he
must control information from the inside and the outside of his organization. He
makes sure that his sources are credible and reliable.
8) Systematic Planning And Monitoring
An entrepreneur’s ability to systematically plan and monitor refers to his
innate competency to make preparations and ready himself and his enterprise to
undertake a business venture. Thus, his development blueprint and steps to
achieve a goal must be very clear. He must take the necessary time and effort to
make sure that when the plan is executed, tasks and objectives are being achieved.
To be a successful entrepreneur, you must take deliberate time to plan your
business. Sun Tzu, in his art of war, teaches about the clearness of conception and
execution as necessary elements in winning wars. Similarly, in business, the
clearness of your plan and the assurance that you are following your general plan
spell the degree of success of your enterprise.
Planning and Controlling are considered as the “Siamese Twins” of
management. This means that the one is basically non-functional without the other.
Regular monitoring and evaluation are important in executing plans. Corrective
actions end measures must be undertaken to ensure that set goals and objectives
are met.
Follow the Plan-Do-Check-Act Principle. Once a plan is already implemented
(Do), always make a regular check. The younger the organization or the enterprise,
the more frequent the evaluation should be. Longer intervals between evaluations
may be allowed for maturing enterprises with seasoned and experienced employee.
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When a task or a goal is too big, always break it down. Even ants are known to
tear down their food into smaller particles to manage it. The smaller the tasks are,
the easier they are for employees to comprehend, and the easier they are for an
organization to achieve.
Chapter 2-1
Power Cluster
9) Persuasion and networking
Persuasion pertains to an entrepreneur’s capability of being able to influence
others, urging them to agree with him while networking refers to his ability to
socialize and develop strong connections with other people and institutions.
To persuade people, never directly imply the decision or the action’s benefit
to yourself. Rather, focus on the benefits of the decision or the action to the
individual you are persuading. The more they see how it would affect them, the
easier it is for you to draw their support.
As much as possible, you should appeal to both the person’s heart and mind.
In many cases, men tend to be more of the rational thinker. This means that you
have to appeal to how or what they think. Ask questions that would draw out what
is important to them- price, quality, trends, ego, etc. Use this to persuade them. On
the other hand, women tend to be more of the feeling and emotion-centered
customers. Ask questions to draw out what they value- family, budgets, fashion,
usefulness, etc. Use this to make the product or your business more appealing to
them. Remember that women tend to be more detail- oriented and conversational
than men.
Be flexible. Always be ready to alternatives once you want to get something
done or want somebody to do something. If necessary, be willing to meet halfway
or to compromise.
Maintain a healthy social circle. Being friendly and conversational helps you a
lot in developing social contacts. Keep a lot of acquaintances but choose your
friends. Believe it or not, your friends define what type of person you are. As an
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entrepreneur, you would want to be associated with credible and goal-oriented

people. Proper decorum and appropriate gestures will bring you along the way.
Keep a business card diary. Contact numbers and addresses should always be
found in your own directory. Don’t rely on telephone directories. It is much helpful
to create your own. Design your business card in a way that it says something about
you. Always have a few ready for social functions and acquaintances.
Learn to use your influences (or the influence of other people) properly.
Sometimes, it is helpful to know some people in some places. Do not, in any way,
use this influence to take undue advantage of other people or to get away with
something. Power-play or politicking has proven to be disadvantageous to many
business enterprises.
10) Self-Confidence
It refers to the entrepreneurs’ sense of security with himself, allowing him to
face other people, his customers and situations without much fear or intimidation.
He is sure of himself and his abilities, skills and talents and uses them when called
for without hesitation.
Develop your personality. Know your own strengths and develop them.
Identify your weaknesses and look for ways to address these. An entrepreneur is
somebody who is always willing to learn more about himself, and for better
adaptability to situations.
Read self-help and self-development books. Not all things are learned in the
four walls of the classroom. Be open to criticisms and take them positively. These
works are opportunities for you to develop yourself.
Know how to act and react appropriately. It is rather difficult to be in
situation where you don’t know what to say, or don’t know what to do. Studying
your customers before meeting them allows you to better interact. Learning the
language and dialect, gestures and culture of your clients not only impress them; it
also makes them feel more home and accepted.
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Dress appropriately. Being overdressed and underdressed for the occasion

greatly undetermined one’s confidence. Clothes you wear say a lot about you. It is
not your clothing that defines you, it is how you carry it.
Develop your skills and talents. Maestros and experts have their confidence
because they perfect their craft. Perfect practice, they say, makes perfect. Having a
skill or talent to share is a plus to your personality. Time will come that you will
have a need for them.
Take good care of yourself. Proper diet and exercise always contribute to the
wellness of being. Not too many people like talking to and dealing with sickly and
inappropriately dressed entrepreneurs. When you look good, you feel good, and it
becomes easier to project self-confidence.
Let’s determine your PECs!
Let’s try to assess your Personal Entrepreneurial Competencies (PECs). An

intensive research conducted in selected countries worldwide by Management Systems
International (MSI) and McBer Team identified ten key personal entrepreneurial
competencies that can determine successful from unsuccessful entrepreneurs and
entrepreneurial “wannabe’s.” Your PECs may be measured using the statements below.
Instructions. This questionnaire consists of 55 brief statements. Read each statement

very carefully and decide how much each statement describes you by using the rating
given below. Your honesty will greatly affect your overall ratings, so just rate each
statement as truthfully as you can. Remember that nobody ever does everything very
well, so just go ahead and answer. This exercise is designed to help you identify the
areas where you can develop.
Use the assigned numbers below to indicate how much each statement
describes you. Write the number on the space provided after each statement. You may
think that some statements are similar, if not the same, just answer them anyway. No
two statements are exactly alike. Remember to answer all the questions.
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Legend Description
5 Always
4 Usually
3 Sometimes
2 Rarely
1 Never
PERSONAL ENTREPRENEURIAL COMPETENCY (PEC) SELF-RATING QUESTIONNAIRE**
Statements Rating
1. I look for things that need to be done. __________
2. When faced with a difficult problem,

I spend a lot of time trying to find a solution. __________
3. I complete my work on time. __________
4. It bothers me when things are not done very well. __________
5. I prefer situations in which I can control
the outcomes as much as possible. __________
6. I like to think about the future. __________
7. When starting a new task or project,
I gather a great deal of information before going ahead. __________
8. I plan a large project by breaking it

down into smaller tasks. __________
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9. I get others to support my recommendations. __________
10. I feel confident that I will succeed in
whatever I try to do. __________
11. No matter who I’m talking to,

I’m a good listener. __________
12. I do things that need to be done before

being asked to do so by others. __________
13. I try several times to get people to

do what I would like them to do. __________
14. I keep the promise I make. __________
15. My own work is better than that of other
people I work with. __________
16. I don’t try something new without

making sure I will succeed. __________
17. It’s a waste of time worrying about

what to do with life. __________
18. I seek the advice of people who know a

lot about the tasks I’m working on. __________
19. I think about the advantages and disadvantages
or different ways of accomplishing things. __________
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20. I do not spend much time thinking

about how to influence others. __________
21. I change my mind if others disagree strongly with me. __________
22. I feel resentful when I don’t get my way. __________
23. I like challenges and new opportunities. __________
24. When something gets in my way of what I’m trying to do,

I keep on trying to accomplish what I want. __________
25. I am happy to do someone else’s work,

if necessary, to get the job done on time. __________
26. It bothers me when time is wasted. __________
27. I weigh my chances of succeeding or failing

before I do something. __________
28. The more specific I can be about what I want out of life,
the more chances I have to succeed. __________
29. I take action without wasting time

gathering information. __________
30. I try to think of all the problems I may encounter

and plan what to do if each problem occurs. __________
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31. I get important people to help me

accomplish my goals. __________
32. When trying something difficult or challenging,

I feel confident that I will succeed. __________
33. In the past, I have had failures. __________
34. I prefer activities that I know well

and with which I am comfortable. __________
35. When faced with major difficulties,

I quickly go on to other things. __________
36. When I’m doing a job for someone, I make a special effort
to make sure that the person is happy with my work. __________
37. I’m never entirely happy with the way in which things are
done; I always think there must be a better way. __________
38. I do things that are risky. __________
39. I have a very clear plan for my life. __________
40. When working on a project for someone, I ask many

questions to be sure I understand what the person wants. __________
41. I deal with problems as they arise rather

than spend time anticipating them. __________
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42. In order to reach my goals, I think of solutions that benefit

everyone involved in the problem. __________
43. I do very good work. __________
44. There have been occasions when I

took advantage of someone. __________
45. I try things that are very new and different

from what I have done before. __________
46. I try several ways to overcome things

that get in the way to my goals. __________
47. My family and personal life are more important

to me than work deadlines I set for myself. __________
48. I do not find ways to complete tasks faster

at work and at home. __________
49. I do things that others consider risky. __________
50. I am so concerned about meeting my weekly

goals as I am for my yearly goals. __________
51. I go several different sources for

information to help with tasks or projects. __________
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52. If one approach to a problem does not work,

I think of another approach. __________
53. I am able to get people who have strong

opinions or ideas to change their minds. __________
54. I stick with my decisions even if others

disagree strongly with me. __________
55. When I don’t know something, I don’t mind admitting it. __________
PERSONAL ENTREPRENEURIAL COMPETENCY (PEC) SELF – RATING QUESTIONNAIRE
SCORING SHEET
Instructions:
1) Given below is the scoring sheet we will use to determine your competencies. Write
the ratings you gave yourself for each statement on the corresponding blanks given
below. (The statement number is marked in parenthesis under each blank) Make
sure you write all the ratings in their correct places.
2) After filling up all the blanks (make sure you fill up each one without exemption).
This will determine your score for each Personal Entrepreneurial Competency.
3) Finally, add all PEC scores you obtained to compute your overall rating.
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E.g. Suppose that the ratings you gave yourself are as follows:
Statement 1: 5
Statement 12: 3
Statements 23: 2
Statement 34: 4
Statement 45: 2
Ratings of Statements Score PEC
5 + 3 + 2 + 4 + 2 + 6 = 22 Opportunity
(1) (12) (23) (34) (45) Seeking
Your computed score would then be 22. Did you get it? Now, let’s determine your PECs.
Rating of Statements Score PEC
+ + - + + 6 = Opportunity
(1) (12) (23) (34) (45) Seeking
+ + - + + 6 = Persistence
(2) (13) (24) (35) (46)
+ + + - + 6 = Commitment to
(3) (14) (25) (36) (47) Work Contract
+ + + - + 6 = Demand for
(4) (15) (26) (37) (48) Quality &
Efficiency
- + + + + 6 = Risk Taking
(5) (16) (27) (38) (49)
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- + + + + 6 = Goal Setting
(6) (17) (28) (39) (50)
+ - + + + 6 = Information
(7) (18) (29) (40) (51) Seeking
+ + - + + 6 = Systematic
(8) (19) (30) (41) (52) Planning &
Motivation
- + + + + 6 = Persuasion and
(9) (20) (31) (42) (53) Networking
- + + + + 6 = Self Confidence
(10) (21) (32) (43) (54)
Total PEC Score: =

- - - + + 18 = Correction Factor
(11) (22) (33) (44) (55)
Notice the last line of values found just above this sentence? Sometimes, it
happens that there is a need to correct the scores to make them more accurate and
avoid too much subjectivism on the part of the rating of yourself. To see if there is a
need to correct the PEC scores, please read the corrections below.
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PERSONAL ENTREPRENEURIAL COMPETENCY (PEC) SELF-RATING QUESTIONAIRE
CORRECTED SCORING SHEET
Instructions:
1. The correction factor (the total of all items at the last line of ratings above –
statements 11, 22, 33, 44, and 55) is used to determine whether or not a person
tries to paint a very favorable image of himself or herself. If the total correction
factor is 20 or greater, the total score on the ten Personal Entrepreneurial
Competencies must be corrected to provide a more accurate assessment of the
strengths of the PEC score for that individual.
2. Use the following values when computing for the corrected scores:
If the computed Subtract the following value

Correction factor is: from each PEC score:
24 or 25 7
22 or 23 5
20 or 21 3
19 or less 0
Turn the page to determine your corrected scores for the Personal
Entrepreneurial Competency Rating.
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PERSONAL ENTREPRENEURIAL COMPETENCY SELF – RATING QUESTIONAIRE
CORRECTED SCORE SHEET
PEC Original Correction Corrected

Score Value Total
Opportunity Seeking ________ - __________ = __________
Persistence ________ - __________ = __________
Commitment to Work contract ________ - __________ = __________
Demand for Quality and Efficiency ________ - __________ = __________
Risk Taking ________ - __________ = __________
Goal Setting ________ - __________ = __________
Information Seeking ________ - __________ = __________
Systematic Planning and Monitoring ________ - __________ = __________
Persuasion and Networking ________ - __________ = __________
Self-Confidence ________ - __________ = __________
CORRECTED SCORE = __________
Below, plot the results of your PECs, and discuss the results with your mentor.
Focus on analyzing your strong and weak competencies. A sample diagram may be
found on the next page.
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PEC PROFILE SHEET

Opportunity Seeking
Persistence
Commitment to Work Contract
Demand for Quality And Efficiency
Risk Taking
Goal Setting
Information Seeking
Systematic Planning And Monitoring
Persuasion and Networking
Self-Confidence
0 5 10 15 20 25
PEC PROFILE SHEET

Opportunity Seeking
Persistence
Commitment to Work Contract
Demand for Quality And Efficiency
Risk Taking
Goal Setting
Information Seeking
Systematic Planning And Monitoring
Persuasion and Networking
Self-Confidence
0 5 10 15 20 25
** This section was adapted from Management Systems International (MSI) and McBer
Team
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Take a look at the discussion and make an honest self-assessment. What

characteristics do you think you have that may determine your own personal success in
the field of entrepreneurship?
Characteristics of successful entrepreneurs that I possess:

1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
It is suggested that you discuss a lot of these things with your mentor. If you just
have a few of these characteristics, don’t lose hope yet. We still have a lot of exercises
that will allow you to know yourself more.
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MATCHING TYPE. Below are the different PECs and below these competencies are
statements that describe what these concepts are. Match the concept with its correct
description by writing the corresponding CAPITAL LETTER of each concept on the space
provided before its correct description.
A. Goal Setting H. Persistence

B. Risk-taking I. Quality and Efficiency
C. Information Seeking J. Commitment to the Work Contract
D. Systematic Planning and Monitoring K. Power Cluster
E. Opportunity Seeking L. Achievement Cluster
F. Persuasion M. Planning Cluster
G. Self –confidence
1. It allows the entrepreneur to see markets and customers where other

ordinary people find none.
2. It makes entrepreneur to keep on trying to do something even when
others tell him that he is likely to fail.
3. It helps the entrepreneur to put a high value on consistency.
4. It helps the entrepreneur to be realistic and self-reliant.
5. One of the key competencies of an entrepreneur is his ability to
conceptualize business ideas and opportunities.
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6. The entrepreneur’s ability to make preparations and ready himself

and his enterprise to undertake a business venture.
7. The entrepreneur’s ability to assess the hazards and perils of the
situation and carefully calculates his chances of success and profits.
8. This refers to the entrepreneur’s ability of being able to influence and
convince others.
9. This determines an entrepreneur’s sense of security with himself.
10.This PEC Cluster allows the entrepreneur to set goals, seek useful
information and develop concrete blueprints for his business.
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MULTIPLE CHOICE. Below are statements that describe concepts related to the
entrepreneur. Directly following each statement are choices of concepts being describe
by each statement. Read the statements carefully and write the corresponding letter
that best answers each question on the space provided before each item.
1) The different PECs may be grouped into three clusters excluding:

A. Personal Development Cluster
B. Achievement Cluster
C. Planning Cluster
D. Power Cluster
2) He is an entrepreneur within an existing organization referred to as
the corporate entrepreneur.
A. Interpreneur
B. Intrapreneur
C. Corporator
D. Proprietor
3) The following fall under Achievement Cluster except:
A. Risk Taking
B. Opportunity Seeking
C. Goal Setting
D. Persistence
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4) Under Persuasion and Networking, one should:

A. Use his or her influence to take advantage of other people or
to get away with something.
B. Be willing to meet halfway or to compromise.
C. Directly imply decision or the action’s benefit to oneself.
D. Keep a lot of acquaintances but never choose friends.
5) Which statement is not correct?
A. When a task or a goal is too small, it is still necessary to break
it down.
B. Longer intervals between evaluations may be allowed for
maturing enterprises with seasoned and experiences
employees.
C. An entrepreneur who is future- oriented disregards past data
because they are considered to be irrelevant.
D. When in doubt about a major decision it is proper to
postpone the decision.
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FILL IN THE BLANKS. Read each phrase or statement very carefully and complete the
phrase to make it a complete statement by filling in the blanks with the correct answer.
You may look for the answers in the box immediately following the items below and
write these answers on the appropriate spaces corresponding to its description.
1. refers to an entrepreneur’s basic skill of being able to

quickly spot and identify possible profitable business endeavors.
2. pertains to how persevering one can be despite many

obstacles and failed attempts to be successful.
3. involves an entrepreneur’s calculation his chances of

success and profits.
4. refers to an entrepreneur’s ability to set realistic and

attainable objectives.
5. involves an entrepreneur’s ability to obtain the

correct information at a proper time.
6. refers to an entrepreneur’s sense of security with

himself.
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7. _ pertains to an entrepreneur’s capability of being able

to influence others.
8. _ is the general cluster encompassing persuasion and

networking.
9. ________________________ is referred to as the corporate entrepreneur.
10. Capital are smart entrepreneurs who use their experience

and expertise in pooling a group of financiers to engage in a business.
Look for the answers in the box of letters found below:
D G K L I G B S G J D S D B V
D I N T R A P R E N E U R S S
L O R W W Q D V J D A V I D P
T E A M B U I L D E R S S C E
J N P E R S U A S I O N E N R
N C M O P P O R T U N I T Y S
D Z H B C H E S A S H B F F I
C P O W E R C L U S T E R D S
L G G S I J E N D A T X D S T
L V I U D F M C X N X E F D E
G R Q U A L I T Y D G F V B N
K C S F H C A A D Z J H N E C
S S E L F C O N F I D E N C E
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S A G G R E G A T O R S H A Y
RESEARCH ACTIVITY:
Conduct an interview with one successful entrepreneur. Go over the interview
guide and use it as much as possible in generating your interview report. Present
the results of this interview (i.e. oral, written or both).
Interview Guidelines
Criteria for Screening Interviewees:
 As much as possible, look for entrepreneurs who started their own
enterprise by themselves. These enterprises should be operating for at
least 2 years and have healthy signs of doing business, and can be classified
under SMEs.
 If possible, look for entrepreneurs whose enterprises are running well or
doing good through the entrepreneur’s efforts and not simply for grants and
subsidies from institutions and government agencies.
 The entrepreneurs should be worth emulating and are in good moral
standing, and should be willing to be interviewed.
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What to Include In Your Interview:
Entrepreneur’s Personal Background (include family, education, work

experiences, and other important characteristics – i.e. characteristics of an
entrepreneur enumerated above).
 Business ventures and experiences

 Motivations for venturing into business
 Reasons for selecting their current business venture/s
 Steps undertaken in starting their business venture/s
 Significant challenges encountered while running the business and solutions
to these challenges
 Private and/ or Public Assistance availed of to help run the business
 Personal characteristics (traits, attitudes, skills, competencies) that has
contributed to the success of their business venture/s
 Personal advise for potential and actual entrepreneurs
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Below are pictures illustrating traits and characteristics of an entrepreneur. List

down personal entrepreneurial competencies which you believe these pictures show.
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A. Identifying Business Opportunities
B. Business Category
C. Ideation
D.Creativity
E. Environmental Stimulants to Creativity
F. Innovation
G. Impacts of Innovation
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A. IDENTIFYING BUSINESS OPPORTUNITIES

( http://businessdiary.com.ph )
Business opportunities are around an individual with a resourceful and creative

thinking. Any business starts with an idea, and through creativity, innovativeness and
the capacity of bringing something new in the market, spells the difference between a
traditional businessman and an entrepreneur. In identifying business opportunity, an
individual can consider the following:
Find a Business Opportunity in Every Market Need
One of the first things you should consider in trying to identify business
opportunities is that all business ventures answer a particular human need. Whether it
is a product or a service, it must respond to what the buyers need or want. Begin by
studying your own community. Is it self-sufficient or do the residents have to go out of
their way to buy pandesal, cooked food, or cooking oil? Or to have their shoes repaired,
their cars washed, or their homes pest-protected?
Opportunities are created out of these demands of individuals and eventually
turn to satisfy market need.
Study Demand and Supply Gaps
Try to determine how the present demand for certain products or services in the
community is being met. Is demand for some items being filled by local suppliers or
producers? Evaluate whether or not local supply can cope with or totally satisfy local
demand. If not, this may suggest that there is room for still one more in the business.
To illustrate: Suppose you have learned that there is only one hollow block maker
or retailer in your community and that he can supply only about half of the
community’s needs. Further, you notice a boom in the construction business. You
see many new houses and commercial buildings being built. From these situations,
you see an opportunity for a new entrepreneur to bridge the gap between supply
and demand. That new entrepreneur can be you! However, you don’t just study
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the hollow block demand and supply . It is important , too, to look at the situation
in the case of other construction materials (for example, steel works, fixtures,
grills, cement, etc.) or services (plumbing, painting, landscaping, interior designing)
to meet related construction needs. You can deal in any of these to create
opportunity in starting your own business venture.
Study Import-Export Movements

A number of products are being supplied by producers or suppliers outside the
community or imported from other countries. Study these imports. It is possible that
you can produce these resources, you may not be able to produce the same high quality
as the imported ones, however, if you can produce at a much lower cost and sell the
products cheaper, you have a competitive advantage there. You may find that your
products though cheaper and of lower quality will also be attractive in the market. For
example, locally cured ham, corned beef, tocino and longganisa have become
acceptable substitutes for imported processed meats.
You may also take a look at products that the community is selling outside or is
exporting. Usually, these products are exported in raw or semi-finished form. For
instance, rattan poles grown in the community are normally sold to rattan furniture
makers and processors outside the community. As a potential entrepreneur, look for
ways of increasing the value of rattan poles before selling or exporting them. If you
succeed, then you can be in business.
One way of increasing the value of rattan poles is to process them into a form
that can readily be used by the buyers. How? By pre-cutting them into the desired sizes,
by treating them with chemicals to prevent deterioration, by varnishing them or
painting them. Of course, the best way would be to manufacture rattan furniture or
rattan handicraft items like trays, boxes, coasters, etc. You can earn better this way.
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Capitalize On Available Resources

The accessibility and availability of resources in an area can push to business
opportunities. These resources may be in the form of raw materials, skills, information
or technology.
Raw materials
Look for materials that are abundant in an area. Study how to make
money out of these either through gathering the materials, trading them,
partially processing them, or manufacturing finished products out of them.
Local Skills
There are traditional skills available in the community. Can these be used
for commercial purposes? Study these skills for possible upgrading and
innovation. The availability of skilled weavers in a community, for example, can
be tapped by organizing a weaving, handloom, or handicraft industry.
Examples of traditional skills on which progressive enterprises built are:
shoemaking in Marikina City, slipper-making in Liliw, Laguna, woodcraft in Paete,
Laguna, jewelry making in Meycauayan, Bulacan, and “antique” furniture making
in Betis, Pampanga.
Industry Information
Information from business journals and other reading materials will keep
you updated on business ideas. Local publications like MagNegosyo of TLRC and
Entrepreneur Philippines Magazine give information that inspire new
entrepreneurs. Check out, too, the business features section of Philippine Daily
Inquirer, Business World, and others. There are online sites that will be useful,
notably the DTI website, E-Yellow Pages, the UP ISSI website, etc.
Many private and government institutions conduct periodic studies which
review the growth and performance of certain industries. Such studies discuss a
given industry’s problems and prospects for growth and expansion. Obviously,
they would provide useful information that will help you make wise investment
decisions.
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For example, the following were identified by the DTI as export winners
in 2002:
o Processed fruits
o Marine products (fresh/frozen fish, shrimps)
o Carrageenan and seaweeds
o Electronics (components and parts)
o Metals (automotive and parts)
o Garments
o Furniture
o Jewelry (fine and custom)
o Holiday decor (Christmas, Easter, Halloween)
o Ceramics (decorative and tableware)
o Basket ware
o Marble and marble craft
o Construction services
o Information technology services
o Professional consulting services
A more updated priority list is given in the National SME Agenda

prepared in 2004:
o Food
o Organic and natural products
o Marine products
o Wearables, including costume and fine jewelry, and footwear
o Leathergoods (handbags, belts, travel goods, gloves)
o Home furnishings
o Construction materials
o Micro-electronics
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o Information Technology services

o Motor vehicle parts and components
If you engage in one of these industries, you will receive high priority in
government incentives and support programs. That means you get the first crack
at credit, training, and technical assistance.
Technology
There are many advances or improvements in technology. These are
advantageous in upgrading traditional production systems or starting a new
business altogether. For example, research and development in aquaculture has
made prawn and bangus culture a viable business venture. Similarly, R & D in
waste utilization has given rise to new products like wood particle boards,
organic farming, and volcanic ash ceramics. Canned laing, and vacuum-fried
tahong are also new products developed by DOST. And of course, e-commerce
has opened up new web-based businesses and new ways of doing business.
Adapt, Complement, Reshape
Be sensitive of what people are doing around you. Can you pick up something
from it – with some modification?
Be aware with the current economic situation in communities comparable to

where you live. You can be inspired by a number of projects which have worked in these
areas and which you can adapt to your own local situation. Don’t just copy and imitate.
Innovate! Innovating is improving on someone else’s idea to make it work for you. This
might mean reshaping or repackaging goods or services to fit or match present trends or
styles. Creative ideas may add or change a product’s features and thus add more to its
benefits.
For example, if you live in the province, you might wish to look at a project that
has succeeded in the city. Internet cafes, for instance, which first proliferated in Metro
Manila, are now being set up in the regions. Fads like string-it-yourself bracelets and
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necklaces, color-it-yourself ceramics, print-while-you wait shops, and badminton courts

can also catch the attention of provincial markets.
Explore Forward-Backward Industry Linkages

Surely, there are a number of industries in your community. Find out what
possible business ideas you can pick up from what already exists.
For example, a backward linkage of a meat processing plant in your area may
spur agribusiness projects like poultry or hog raising, transport services, supplies
required for meat processing. Consider also going into distribution of poultry feeds, egg
trays and other inputs to the poultry raisers in the community. A forward linkage, on the
other hand, would explore opportunities in meat packaging, subcontracting, or trading
and distribution of finished products.
Screen and Select the Best Investment Alternative

You may be able to identify a number of alternative business ideas. You may
then narrow down the choice to two or three possible projects, maybe food, garments
or handicraft. But since you have limited resources, you can’t go into all three projects
at once. You will have to screen and select the best one.
B. BUSINESS CATEGORY
According to (Asor, 2009) , venturing into a business project demands a timely

and clear decision as to which area or business concern to deal with. In the selection
process, one has to begin with choosing or focusing on a particular sector.
The service-based business

Common examples of service-based businesses are consultancy ,barber
shops, repair shops, beauty parlors, care giving, designing works, rendering
professional services, such as engineers, dentistry, medical doctor, and others
where there is no need to manufacture something.
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Trading of product-based business

This is a buy-and-sell transaction that can happen in your storehouse,
showroom, or any other structure less environment. Selling involves a lot of
customer contact and requires a great deal of persistence on the entrepreneurs’
part. An example of this is putting up a grocery store, bakery products, or
general construction materials.
Manufacturing business
This is a manufacturing or production-based business by creating a
product. Manufacturing can be as simple as creating hand-painted T-shirts or
ceramic vase and now, the most popular is candle making, which can be done in
your home.
Licensed business opportunities
If you find some difficulties in launching a product or service, it is a good
idea to look for licensed business opportunities. Franchising is a business format
somehow very similar to licensed business operations.
Distributorship
This is where an independent entrepreneur, company, or individual
enters into an agreement or contract to offer, sell, or distribute a particular
product, but it is not entitled to use the manufacturer’s trade name as part of its
own trade name. In our country, distributor represents foreign companies who
can sell products to dealers strategically located all over the country.
Rack Jobber
This involve an agent or buyer entering an agreement with a parent
company to market its goods to various stores by means of strategically located
store racks.
Wholesalers
These sell the product of manufacturers or producers to retailers and
other distributors who have direct dealings with the end users or customers.
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Subcontracting
This is a familiar form of business format in the garments sector, as well
as the shoe industry. This involves signing up an arrangement with a major
producer to complete a set of product components on a pre-agreed price.
Vending machines routes
These are placed in various places or locations. The entrepreneur needs
to have substantial capital outlay as he had to pay for the vending machine,
including the stocks to be vended.
C. IDEATION
Any business idea has to start somewhere. Ideation helps you visualise a
business opportunity by creatively identifying market demands and analysing
competitors. Ideation entails a process of discovery designed to lead toward the
creation of dynamic and impactful enterprises .
Generating an idea is an important and exciting process. For a creative person,

ideas are in him in his mind, but for those deprived with creative thinking; they can get
ideas through reading books and talking to someone with creative thinking. There are
some specific sources like trade journals, trade associations, conventions, exhibits, trade
shows and consumer shows, country government affairs, and others.
Ideas that are worth for a business should be the one that has a market now and
in the future. This could be a product, a service system, and the like, which could fall in
any of the following categories:
a. Need/want drives
b. Time-saving drives
c. Money savings
d. Unique or incorporating strong competitive advantages
e. Link to personal interest, preferably passion
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The more idea a person produces, the more original and the better quality ideas
one will find among them. When you come across an idea, you should put it in writing.
The most common ways of developing ideas are as follows:
Recognizing the need

Cultivate an idea that can satisfy a need, and respond to the need by
establishing a business concern.
Improving an existing product
Consumer dissatisfaction to the existing product could open the door to
introduce innovations or improvements. The idea of enhancement or
refinement comes in.
Recognize trends
Entrepreneurs should be able to recognize the opportunity to develop a
product and set trends that can make them leading entrepreneurs.
Be aware of everything
There is no other way to know about what is happening around you, but
to research and read.
Questions and assumptions
Anybody can question the relevance or quality of any product or services,
provided that there is an effort to improve the product.
Naming it first, then, develop it
If you have the idea, study it and develop it to something that is worth a
business.
A wrong choice of idea could be the cause of business failure, so ideas need to
be evaluated if it can be profit potential. The following are some tips in evaluating ideas:
Do not let your idea follow money; let money follow your ideas
If the idea is clear and viable, there should be clear options for the
business out of idea.
See yourself as problem solver
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Ideas should be solution to an existing problem of the consumer or the

market in general.
Use research as a weapon against failure

This is an important fact in decision-making process; most business failed
because of lack of information.
Make sure your idea has longevity
An idea that is worth pursuing into a business is one which has a long-
term purpose and not only a fad.
Take risk on your ideas
Venture into a business by using your own ideas.
Test your idea against the past, present, and future
The market needs and demands will not be far from what is happening in
the past, so it is better to get information about the past, present and future.
Know the idiosyncrasies of your market
Know the needs of your market and all the factors that affect the buying
process. Your idea will depend on this.
Once you generate an idea, it has to be protected because it can make you a
potential millionaire, like in the case of Bill Gates. There are many ways of protecting
your ideas from being stolen or claimed by others, and losing the opportunity to be
known as the creator and the originator of the ideas.
The following are the ways of protecting your ideas:
Confidentiality Agreements
It specifically provides that a signer will not share the idea to anyone. This
is a typical agreement or contract where one should ask advice to a patents
attorney or those with experience and expertise in the intellectual property
rights.
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Patents
This gives the inventor exclusive legal rights to exclude anyone else from
manufacturing, selling, importing, or using an innovation during the life of the
patent. The three general classifications are: Design, Utility, and Plants Patents.
Trademarks
This is a word, name, symbol, or device used by manufacturers on
merchants to identify their goods and distinguish them from others sold in the
market. This should be said in conjunction with a business or a product,
otherwise, this will not be granted.
Copyrights
A copyright protects the creative works of composers, authors/writers,
artists, and others. This is the easiest form of protection for Intellectual Property.
D. CREATIVITY
According to Harris (1998), as cited by Okpara, Friday (2007), creativity is marked

by the ability to create, bring into existence, to invent into a new form, to produce
through imaginative skill, to make and to bring into existence something new. Creativity
is not the ability to create out of nothing (only God can do that), but the ability to
generate new ideas by combining, changing, or reapplying existing ideas. Some creative
ideas are astonishing and brilliant, while others are just simple, good practical ideas that
no one seems to have thought of yet.
Creativity, innovation, and entrepreneurs are inseparable. Creativity is an

essential part of innovativeness, the starting point of a process, which is skilfully
managed and brings an idea into innovation. It is considered as characteristic that is
innate or inherent to every individual, but the social environment can influence both the
level and frequency of creative behavior. It is particularly important to understand the
role the environment can play.
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E. ENVIRONMENTAL STIMULANTS TO CREATIVITY

( http://thecreativeleadershipforum.com)
1. Freedom – choice in deciding what to do or how to accomplish the task

2. A good manager - enthusiastic, has good communications skills, protects team
from distractions and interference, matches tasks to skills and interests, sets a
clear direction without micromanaging
3. Access to necessary resources - facilities, equipment, information, funds, people
4. Encouragement - enthusiasm for new ideas, atmosphere free of threatening
evaluation
5. Organizational characteristics - such as a formal mechanism for considering new
ideas, climate marked by cooperation and collaboration across levels and
divisions, atmosphere where innovation is prized and failure is not fatal
6. Recognition for creative work – it is in the form of feedback, recognition and
reward
7. Time to think creatively – period to explore different characteristics
8. Challenge - a sense of having interesting and important work to do, internalized
by employees as personal challenges
9. Pressure - arising from competition with other units, or a desire to do something
important
There are also environmental obstacles to creativity, these are mostly the
opposites of the stimulants. These are the various organizational characteristics which
are an inappropriate reward system, the lack of freedom in deciding what to do or how
to accomplish the task, and the organizational disinterest which result to lack of support,
interest or faith in project. It could also be the inability of the manager to set clear
direction and the reluctance of managers and co-workers to change their way of doing
things. Included also is the lack of appropriate facilities, equipment, materials, and the
time pressure to think creatively about the problem.
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F. INNOVATION
Innovation is the process of creating changes to something established by introducing

something new. It can be applied to products, processes, or services in any organization. It can
happen at all levels in an organization, from management teams to departments and even to
the level of the individual. Innovativeness is a characteristic of an individual, team, or
organization. This is also the capacity to create ideas and develop them to usable
products or services.
TYPES OF INNOVATION
( http://inventta.net )
The different forms of innovation can be classified in several ways.
Product innovation
It consists of changes in product attributes with a change in how the

product is noticed by consumers.
Example: car with automatic transmission compared to “conventional

“one.
Process innovation
It consists of changes regarding the product or the service production

process. It does not necessarily have an impact on the final product but
produces benefits in the production process, generally increasing the
productivity and reducing costs.
Example: automobile produced by robots compared to that produced by

human workers.
G. IMPACTS OF INNOVATION
Innovation must have a positive implication that is supportive of organizational

goals and objectives Innovative accomplishment exists if the following happens:
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1. Effecting a new policy-creating change or orientation or direction

2. Finding new opportunities-developing an entirely new product or opening a
new market
3. Designing a new structure-changing the formal structure, reorganizing or
introducing a new structure
4. Devising a fresh method-introducing a new process ,procedure, or technology
for continued use
Within the organization, the orientation toward innovation must come primarily
from the higher level of management. The elements of innovation orientation are as
follows:
a. Value placed on creativity and innovation in general;

b. An orientation towards risks;
c. A sense of pride in the organization and its members, and the enthusiasm about
what they are capable of doing; and
d. An offensive strategy of taking the lead towards the future.
The most critical aspect in making a decision to go into self-employment and

entrepreneurship is the context of ideation, innovation and creativity. The generation of
idea and transforming it into a business venture can make or break a potential
entrepreneur. The success of the business could lead to personal prosperity of the
owner and help in the economic condition of our country.
Innovation is not only for a change, but also for the search in excellence, not only
in producing a product, but also in the form of innovative systems and services. The
innovativeness and the creativity of an individual could be the greatest assets any
business could have, so this should be developed and properly taken care of.
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List all the possible business ideas you can think of. As much as possible, think
of business ideas that you believe are not yet in existence.
BUSINESS IDEAS
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
Keep in mind, we would want to focus on something really new.
Emma D. Aspiras,PhD
78
Technopreneurship
Rewrite the business ideas you have listed in Assessment 1 on the table found
below. Try to evaluate each of these business ideas. Given the table below, just simply
answer yes or no for each business idea you wrote on the first column.
BUSINESS IDEA Would a good Can we set up Do you think Can we

number of this business investors recover the
people like idea with would be investment in
this idea? current world willing to this business
(YES OR NO) resources and study this idea idea in a
technology? and invest in reasonable
(YES OR NO) it? amount of
(YES OR NO) time?
(YES OR NO)
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
Emma D. Aspiras,PhD
79
Technopreneurship
List your profitable business ideas below by choosing those that have all YES
answers on the last four columns in Assessment 2. If you were not able to come up with
one, you may repeat this activity or you can modify your listed business ideas.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
Emma D. Aspiras,PhD
80
Technopreneurship
Questions for Discussion:
1. Where and how do you generate ideas worth pursuing into a business?
2. What is the best way to evaluate business opportunities?
3. What is an idea that is worth a business? Discuss.
4. What business category is best? Why?
5. Describe the stimulants to creativity.
Emma D. Aspiras,PhD
81
Technopreneurship
Below are pictures depicting ideas, creativity and innovation. Describe each of
the pictures below. Discuss in class your observations.
Emma D. Aspiras,PhD
82

Technopreneurship Bsce 3a and 3b

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Technopreneurship Bsce 3a and 3b

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Technopreneurship

C. Technopreneurship’s Role in the Country’s

E. How to Become a Successful Technopreneur?

The term technopreneurship is a combination of the words ‘technology’ and

Because nothing in this world is permanent, even the innovations we imagine or

1. Technology has enabled everything to be effectively managed, time-efficient, and

C. TECHNOPRENEURSHIP’S ROLE IN THE COUNTRY'S ECONOMIC DEVELOPMENT

Technopreneurs play a significant role in the economy because they use

To be successful, a technopreneur must frequently go above and beyond. Any

Tesla, SpaceX and PayPal

E. HOW TO BECOME A SUCCESSFUL TECHNOPRENEUR?

Technopreneurship is advancing in the corporate world by enabling virtual

Innovation, not invention, is the key to success in the technopreneur realm. It

1. Gain Full Tech Stack Knowledge

4. Maintain Flexibility and Resilience

5. Be Ready for Competition

H. The Filipino Entrepreneur

I. The Challenge to Entrepreneurs

J. Entrepreneurship and Education

K. Socio Economic Importance of Entrepreneurship

L. Advantages of Managing a Small Business

M. Disadvantages of Managing a Small Business

Let us start discussing concepts about “Entrepreneurship” by having a clear idea

Jean Baptiste Say (1800) Entrepreneurship refers to the shifting of economic

Karl Vesper (1980) Entrepreneurship is the dynamic process of creating

Based from the concepts of entrepreneurship discussed earlier, it is clear that

Second, an entrepreneur must have business skills. An entrepreneur must be

C. THE FILIPINO ENTREPRENEUR

Entrepreneurship in the Philippines, as previously colonized by Spain who

A typical Filipino entrepreneur, as to various write ups and documentations

D. THE CHALLENGE TO ENTREPRENEURS

In the previous decades where technology, globalization, and trade

E. ENTREPRENEURSHIP AND EDUCATION

Problem on unemployment in the Philippines is continuing, a self-employment

The Council of Management Educators (COME), comprising of

Today, entrepreneurs play a major role as a provider of employment for the

G. ADVANTAGES OF MANAGING A SMALL BUSINESS

Many people with an entrepreneurial spirit wish to open a small business. A

Opportunity to Gain Independence

Operating a small business has the advantage of lower development costs. A

Opportunity to Unlimited Profits

11. Steve Benitez Coffee Shop

40. Martin Lorenzo Food Service

H. DISADVANTAGES OF MANAGING A SMALL BUSINESS

Capital Investment Is At Risk of Losing

Dealing with Undesirable Costumers

Course & Section: ___________________________ Date:__________

1. According to Jean Baptiste Say, entrepreneurship is the shifting of economic

6. As Carl Menger believed, entrepreneurship is promoting new combinations of

1. An entrepreneur is someone who has ________ , this is why an entrepreneur is

9. Entrepreneurship and innovation are important tools for productivity and

QUESTIONS FOR DISCUSSION: Write your answers on the next pages.

Below are pictures of small businesses owned by start-up entrepreneurs.

Female owner of coffee African salesman Male chef

D. Personal Entrepreneurial Competency

These characteristics should be possessed by successful entrepreneurs in order

Characteristics of the Average Entrepreneur

► Decisiveness ► Hard work

► Total commitment ► Innovation

► Maturity ► Emotional Balance

The following are the categories of an entrepreneur:

He is an entrepreneur within an existing organization, referred to as the corporate

The Solo Self-Employed Individual

The Dealers to Dealers

Course & Section: _________________ Date: