ABM 213 – Introduction to Entrepreneurship

Module 3

Chapter 3:
THE ENTREPRENEURIAL PERSONALITY

About Chapter 3

This chapter will familiarize you with the tasks and

functions of the entrepreneurial role; apprise you of the
qualities common among individuals who are able to carry out
entrepreneurial functions; trace the background of these
individuals so that you may identify the sources or origins of
entrepreneurial qualities. It will also allow you to make a
personal appraisal which will enable you to judge for yourself
whether or not you have the potentials to succeed in an
entrepreneurial career. It will give you some practical
guidelines which will enable you to develop yourself to become
an entrepreneurial person. The final topic will you that
entrepreneurship need not be an individual effort, but that you
can join with others to form a group enterprise.

Intended Learning Outcomes:

At the end of the Chapter, the student should be able to:

1. Discuss the entrepreneurial functions;
2. Enumerate the general character traits and personal
competencies of a successful entrepreneur;
3. Describe some behavioral indicators of these character traits;
4. Relate the development of entrepreneurship values and
attitudes with early life experiences, i.e., family
upbringing, childhood, training and cultural influences;
5. Answer the question “Are entrepreneurs born or made?”; and
6. Identify important characteristics or entrepreneurial
competencies.

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Learning Content/Topics:

1. The Role of Entrepreneur

2. Entrepreneurial qualities
3. Wellspring of Entrepreneurship: Are Entrepreneurs Born or
Made?
4. Developing Yourself for Entrepreneurship

Learning Activities:

1. Gather information about the journey and objectives of well-

known entrepreneurs towards successful entrepreneurship;
2. Assess what personal entrepreneurial competencies are strong
and weak;
3. Identify groups in the Philippines which have been stereotyped
as business minded and the factors inclined them to business;
4. Figure out why some Filipinos are not as entrepreneurial as
they ought to be and describe how it affects the rate of
development or level of prosperity of the country;
5. Appraise their own readiness for entrepreneurship;
6. Prepare a daily planner to test their personal entrepreneurial
characteristics;
7. Identify their weak personal entrepreneurial characteristics;
and
8. Propose activities which they can do to strengthen their weak
PEC.

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The Topic 1: The Role of Entrepreneur

The entrepreneurial way of life combines creativity,

challenge hard work and satisfaction. Entrepreneurship is a
creative activity in much the same way as artistic or scientific
creativity. An entrepreneur must, like the artist or the
scientist, conceive an idea out of his own imagination. Once the
idea is born, he is faced with the challenge of translating that
idea into reality. To accomplish this, he puts in long and
unremitting hours of work and takes financial risks. All these
require a lot of energy and self-discipline.
The successful entrepreneur enjoys a position of prestige in
the community because of his many contributions to society
especially in terms of providing jobs to people and providing
needed goods and services. These services are equally, if not
more, important than those performed by lawyers, doctors,
teachers or accountants.
At the same time, substantial rewards await the successful
entrepreneur. You have heard, of course, of Colgate, Ford, Getty
and Rockfeller. Closer to home, you have heard of Gonzalo Puyat,
Gregorio Araneta, Toribio Teodoro, Vicente Madrigal, Henry Sy,
Cora Jacob and Narda Capuyan. All of them have amassed great
fortunes from their entrepreneurial activities. But aside from
material profit, entrepreneurs are rewarded by a sense of
accomplishment for having created something out of nothing. For
many of them, the psychological rewards far outweigh the
material ones.
The Entrepreneur. What exactly does the entrepreneur do?
Broadly speaking, there are eight entrepreneurial functions:

1. The entrepreneur perceives opportunities

in the environment;
2. Takes risks to make use of these
opportunities;
3. Mobilizes capital for a business;
4. Introduces innovations;
5. Organizes labor and production;
6. Makes decisions;
7. Plans ahead; and
8. Sells his products at a profit.

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Economic Opportunities
The entrepreneur keenly observes the environment in search
of ideas and opportunities that can be turned into profit. For
instance, he takes note of the kinds of raw materials that are
abundant and cheaply available in the area and relates these
materials to the needs of the people around him.
In this sense, inventors can be a very entrepreneurial lot.
Take Carlita Rex Doran, for example - the owner of the Forest
Magic line of herbal cosmetics and medicines. As a college
graduate, she noticed how rural folks traditionally use "gugo"
for hair care. Gugo comes from bark of a common climbing tree,
scientifically known as entada phasetoladis merr which grows
abundantly especially in the rural areas. As a chemist, she knew
that indeed gugo was a natural cleansing agent, unlike most
ingredients being used in commercial hair care products.
Experimenting in her small home-based laboratory, she tried
various formulations of shampoo using gugo as base. In time,
Carlita had an entire gugo family of products gugo hair and body
shampoo, hair grower shampoo, hair grower lotion and herbal hair
conditioner.
Carlita's inventive work did not stop with gugo
formulations. She looked around for other abundant natural
materials waiting to be tapped. Fruits, vegetables and the
common tawas tor example. She took fancy on papaya, avocado,
carrots, and special herbs and flowers and spent time with them
in her laboratory. The result was another line of products-the
fruit and vegetable line and the tawas line.

The Entrepreneur Takes Risks

The entrepreneur does not merely perceive ideas as
opportunities but also calculates the risks involved in
implementing these ideas. Risk denotes uncertainty or chance.
When a business is described as risky, it means that the outcome
of this business is uncertain. In other words, there is a chance
that the business may fail as there is that it may succeed. When
an entrepreneur calculates the risks of a business, he estimates
the odds for success as well as for failure on the basis of
these estimates, he decides whether to go on with the business

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or to forget about it. When he decides to go on despite the

chances of failure, he takes a risk.
The Businesses’ success is affected by many factors that are
difficult to calculate and to control. One such factor is the
market temperament of buyers which is difficult to predict. A
product that is enjoying brisk sales today may gather dust in
the store shelves tomorrow. Demand for a product is affected by
factors such as competition, changing needs and preferences of
buyers and various economic conditions that determine whether
people will have more or less money to spend.
Because of the uncommon risks inherent in the
entrepreneurial role, not many people end up as entrepreneurs
except the courageous ones who are willing to accept challenges.
Most people are afraid to fail, and therefore avoid taking risks
of any kind, such as the people who are called seguristas.
A segurista will make a poor entrepreneur because he does
not have the spirit that results in progress. Instead of acting
aggressively and making things to happen to improve his
business, he only watches helplessly as things happen or, worse,
fail to realize what is happening around him. He does not
innovate and has no need to achieve great things on his own. A
segurista will be happier doing traditional and low-risk jobs
where both the income and tenure are assured, like office work
or other conventional employment.
Entrepreneurs, on the other hand, take risks because they
focus their attention on the chances for success rather than the
chances for failure. They are however, alert to the possibility
of failure in business, and this in fact makes the enterprise
more challenging to them. They wish to prove that they can
overcome such adversities through their own ingenuity.

The Entrepreneur Produces Capital

The entrepreneur produces the capital in so many ways. He
may look for investors who will believe in his project and share
the risk with friends or relatives and establish a partnership
or a corporation with them. Or, they may go to the bank to
borrow funds. Many entrepreneurs also put up their own capital.
This indicates their remarkable ability to take risks. The more
entrepreneurial one is, the less afraid he is to invest his own
capital.
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The Entrepreneur Introduces Innovation

Innovation implies newness, variation, originality, novelty
or uniqueness. Thus, the innovative person 1s open to change.
One of the hallmarks of the entrepreneur is innovativeness and
this explains, in part, why he is sad to propel progress and
development. The entrepreneur introduces new products, new ways
of doing things, new methods of production. He exploits new
sources of materials and discovers new markets. He is creative.
It is the innovativeness of entrepreneurs which largely and
continuously revolutionizes everyday living. They think of ways
by which a product is put to other uses, adapted, modified,
magnified, substituted, reversed or combined.
Introducing innovations is the entrepreneur’s response to
the needs of people or to perceived economic opportunities. For
example, we have all been clamoring energy-saving and indigenous
devices everywhere. One entrepreneurial inventor, Alberto
Figueroa, came up with the idea of a unique cooking stove which
uses waste materials (rice hull, rice straw, shredded paper,
Sawdust, bagasse, or dried leaves mixed with a little coconut
oil) as fuel to produce a smokeless and efficient fire. The
stove can cook a simple dish in 15 minutes. This low-cost
product of course is a most welcome substitute to electric or
gas stoves which are not only expensive to buy but to use as
well.
Being innovative is essential in order to survive in
business. If one's products or processes are antiquated, chances
are that some other entrepreneurs who are more creative will
take the market away for themselves.

The Entrepreneur Organizes the Business

The entrepreneur is the person responsible for getting
together all resources needed for the business to get started
and going. Hie is one who thinks of what, how, where, when and
how much land, labor and capital are needed to transform an idea
into a real functioning enterprise. In other words, he is the
organizer of the business; it is through him that activities
needed are identified and done by the right people at the right
time.

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The Entrepreneur Makes Decisions

The business situation involves a lot of unknown and
uncontrollable factors which may affect the future success or
failure of the firm. Under these conditions of uncertainty, the
entrepreneur considers all alternatives open to him to solve a
problem, ranks these alternatives in terms of usefulness to the
business and chooses that course of action which is most useful
for the business. Since decisions are realistic only to the
extent that various alternatives are considered, the
entrepreneur has to continuously search his environment for
possible alternative solutions.

The Entrepreneur Plans Ahead

The entrepreneur can act in an emergency. He/she can make a
rush decision when the situation calls for it. This role,
however, demands that she be able to anticipate events in the
future that will affect her business. She should also be able to
prepare Tor consequences of her actions well in advance. The
nature of her jobs requires investments that Can only be
recovered in time (not at once), forecasting alternative and
their consequences even before they actually happen, expecting
future possibilities and preparing her adjustments to these
conditions if they should happen.

The Entrepreneur Sells His Products at a Profit

The entrepreneur is an economic man. As such, he sees to it
that his products will sell and bring him money. He establishes
relations with customers in a personalized manner so that they
will choose to buy his products or services again and again.
Profit is a concrete indicator of how well an entrepreneur
has managed his business from the start. The profit shows how
market accepted or rejected his product. Low profits prompt
entrepreneur to investigate whether he is producing the right
product or service for the right people at the right time and
place. High profits indicate to him that he has been moving in
the right direction. Usually this spurs him to perform better.

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Activity No. 1: UNDERSTANDING

Using the internet, search for a well-known successful

agribusiness entrepreneur in the Philippines. Gather information
about his/her journey towards successful entrepreneurship.
Identify his/her objectives, business background and success
stories. Summarize what you have learn from them.
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Continue on separate sheet if necessary.

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Topic 2: Entrepreneurial Qualities

What makes up the entrepreneurial personality?
entrepreneur has seven general character traits:

1) He takes moderate risks

Moderate-risk activities are those whose outcome depends
largely on a person's skills or efforts. Maybe some luck is
involved, but the effect of chance is minimized by the skills or
efforts put in by the person so that the outcome becomes his
responsibility.
Entrepreneurs are known to be individuals who are not afraid
to take risks. However, the risks they take are calculated. In
other words, they are not so foolhardy as to undertake
activities where they know nothing at all about the
possibilities for success. They know that doing so is tantamount
to gambling or financial suicide.

2) He wants to take responsibility for his actions

The tendency of entrepreneurs to prefer moderate risks is
accompanied by a strong desire to be the one responsible for
outcomes or results. He prefers to make the decisions himself
and, in the process, he commits his efforts, knowledge, skills
and investments. Should he fail, he only has himself to blame,
not his workers nor his clients. And should he succeed, he only
has his entrepreneurial competencies to attribute his success.

3) He is self-confident
Entrepreneurs are well-known for being a very self-confident
lot. They tend to believe that they can do better than what
other people or what the circumstances suggest they can do. In
other words, they tend to overestimate their chances for
success. However, this tendency to be overconfident happens only
under new conditions or situations where they have no previous
experience on which to base their estimates of risk. This is why
other people see them as overconfident and seldom share their
enthusiasm about new ventures in business. This quality also
explains in part why entrepreneurs take risks: because they
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believe in their ability to influence outcomes more than other

people do in theirs.

4) He likes to get concrete feedback on his own performance from

others
The entrepreneur wants and seeks concrete feedback as to how
well or how poorly he is doing. Without such knowledge of
results, he finds it difficult to go on. The feedback may be in
the form of profits, sales, percentage control of the market,
size of the firm in terms of number of workers, volume of
production, rate of growth, customer reactions and others. He
wants the feedback to be immediate and constant and available
each day, to allow him to continue or to revise his method of
working if necessary.

5) He is more concerned with tasks or problems rather than with

people
In an experiment on entrepreneurial behavior, psychologists
observed how entrepreneurial people reacted to information
regarding the way they worked with others in a group in a simple
problem-solving task. The findings showed that entrepreneurial
people performed better when the information given was in
relation to how they were progressing in their solution to the
problem. On the other hand, non-entrepreneurial people worked
better when feedback given was in relation to the way the group
members interacted and helped one another during the task. They
liked to know that they behaved well and in cooperation with
each other in trying to solve the problem. The entrepreneurs on
the other hand, liked to know whether the solution was right or
wrong, or whether they were working fast or slow.
The distinction between the entrepreneurs and non-
entrepreneurs in this experiment is in their orientation toward
task and people Obviously, it is a concern with task rather than
with people that is more likely to succeed in business. This is
not to say, however, that entrepreneurs do not care about people
at all. It implies, rather, that they care primarily about what
is supposed to be done and secondarily about the people who will
do it.

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6) He is achievement-oriented
Entrepreneurs are people who accomplish things. They have
what psychologists call the "need to achieve or n Ach”
characterized by a preoccupation to perform tasks excellently
for the sake of excellence rather than for rewards or prestige,
money, recognition or power. She works hard for the sense of
personal accomplishment the job will give her and not simply for
the sake of working.
As individuals with high n Ach, entrepreneurs have been
found to be goal-directed in whatever they do. That is, they
always think of what it is they really want to accomplish in the
long run and what today’s activity means in terms of that which
they eventually want. They are always aiming for something, and
their aims are very often not quite ordinary. That is why other
people call them ambitious.

7) He is Creative
An entrepreneur has been found to be a very creative person.
He/she sees something else, something different, something
beyond what others see. He/she imagines new and different things
from what are ordinarily seen.
He/she is able to use her thinking power to solve problems
when he/she is faced with unusual situations. He/she can make up
new ways of doing things in order to do something well.
Innovative thinking is not only manifested in the final
product. Entrepreneurs also resort to innovation to find new
ways of doing things to achieve efficiency and productivity.

Personal Entrepreneurial Competencies

As a result of continuous study of these entrepreneurial
qualities character traits, several qualities were evolved by
the Management Systems International, a consulting firm based in
Washington. These are collectively called Personal
Entrepreneurial Competencies (PECS). They are referred to as
competencies because these qualities are translated into actions
- demonstrated and exhibited - by an individual in order to make
things happen rather than remain as passive traits or mere
mental pre-occupations.
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These competencies are clustered into the following:

1. Achievement Cluster
• Opportunity seeking. An entrepreneur readily identifies
opportunities for going into or improve his business. He
does not merely spot opportunities to set up a business but
more importantly, act on these opportunities like actually
setting up the business. Moreover, he will seize unusual
opportunities to tap sources of financing, acquire
equipment, 1and, work space or business information and
assistance.
• Persistence. An entrepreneur does not give up easily when
confronted with obstacles. He is not easily discouraged at
early signs of failure. Instead he uses his imagination to
take repeated actions and if necessary, varies his
approaches until he gets the desired result.
• Commitment to work contract. As soon as an entrepreneur
commits himself, he takes full responsibility for this
commitment. When needed, he pitches in with workers or
performs extraordinary chores just to get the job done at a
mutually-agreed time and standard of quality. This
commitment applies to a self-imposed commitment as well.
• Risk taking. The entrepreneur is known for being a risk-
taker. He prefers tasks which provides him some challenges.
Equipped with the necessary knowledge and experience
required and aware of how much hard work he is willing to
put into the task, he knows he has a fair chance to succeed.
• Demand for efficiency and quality. Setting high but
realistic standards of excellence for himself, he finds it
difficult to compromise on those standards. So, in order to
meet these standards, the entrepreneur always strives to
find ways to do things better, faster and at a lower cost.

2. Planning Cluster
• Goal setting. An achievement-oriented individual, the
entrepreneur plans out the accomplishment of tasks. She sets

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clear and well-defined goals and breaks these goals into

short-term as well as long term goals.
• Information Seeking. To assure accomplishment of her
entrepreneurial goals, the entrepreneur continuously seeks
for relevant information regarding the market, clients,
suppliers and competitors and consults experts’ advice on
business and other technical matters.
• Systematic planning and monitoring. As a careful planner,
the entrepreneur sets what are to be accomplished and
meticulously assesses how today's activity can contribute to
the accomplishment of her long-term goal. She therefore,
introduces some system in achieving her goal by breaking
this goal into short-term and long-term goals. Furthermore,
she keeps on monitoring her progress in order for her to
check whether she is in the right direction or if
modification is needed along the way.

3. Power Cluster
• Persuasion and networking. A persuasive person, the
entrepreneur easily establishes a network or personal and
business contacts around her. An entrepreneur is aware that
power is required to achieve her business objective. She is,
therefore, quick to identify sources of power from within
her.
• Self-confidence. The entrepreneur has confidence that she
can make things happen. Aware of her capabilities, she does
not doubt that she can accomplish the most challenging tasks
on hand.

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Activity No. 2: APPLICATION/SELF-ASSESSMENT

ASSESSING ENTREPRENEURIAL COMPETENCIES

Instructions:
1. Read each statement and decide how well it describes you. Be
honest about yourself.
2. Select one of the numbers to indicate how well the statement
describes you:
5 = Always
4 = Usually
3 = Sometimes
2 = Rarely
1 = Never
3. Write the number you selected on the line to the right of each
statement.
4. Some statement may be similar but no two are exactly alike.
5. Please answer all questions.

Questions Rating
1. I look for things that need to be done.
Hinahanap ko ang mga bagay na kinakailangang gawin at
tapusin.
2. When faced with a difficult problem. I spend a lot of time
trying to find a solution.
Kapag nahaharap ako sa mahirap na problema, gumugugol ako ng
maraming oras sa paghahanap ng solusyon.
3. I complete my work on time.
Tinatapos ko ang mga bagay na kinakailangang gawin at
tapusin.
4. It bothers me when things are not done very well.
Naaapektuhan o namromroblema ako kapag ang mga Gawain ay
hindi nagawa nang maayos o mahusay.
5. I prefer situations in which I can control the outcomes as
much as possible.
Hangga’t maaari, pipiliin ko ang mga sitwasyon na kung saan
kaya kong kuntrolin ang magiging bunga o kalalabasan nito.
6. I like to think about the future.
Gustong-gusto kong pag-isipan ang hinaharap.
7. When starting a new task or project, I gather a great deal
of information before going ahead.
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Kapag nagsisimula ako ng bagong Gawain o proyekto,

nangangalap muna ako ng maraming impormasyon bago simulant
ito.
8. I plan a large project by breaking it down into similar
tasks.
Pinaplano ko ang malaking proyekto sa pamamagitan ng pag-
unti-unti dito.
9. I get others to support my recommendations.
Nanghihimok ako ng iba upang suportahan ang aking mga
panukala, mungkahi o rekomendasyon.
10. I feel confident that I will succeed at whatever I try to
do.
Naniniwala ako na ako ay magtatagumpay sa anumang ninanais
kong gawin.
11. No matter whom I’m a good listener.
Kahit sino ang aking kausap, ako ay masinsinang nakikinig.
12. I do things that need to be done before being asked by
others.
Ginagawa ko ang mga bagay na kinakailangan kong gawin o
tapusin bago pa man mautusan o masabihan ng iba.
13. I try several times to get people to do what I would like
them to do.
Sinusubukan kong hikayatin ng maraming beses ang ibang tao
na gawin ang mga bagay na nais kong gawin nila.
14. I keep the promises I make.
Tinutupad ko ang mga pangakong binibitawan ko.
15. My own work is better than that of people I work with.
Ang sarili kong gawa ay mas mahusay kaysa sa mga gawa ng mga
taong nakakatrabaho ko.
16. I don’t try something new without making sure I will
succeed.
Hindi ako sumusubok ng ibang bagay o anumang bago hangga’t
hindi ko nasisiguro na ako ay magtatagumpay.
17. It’s a waste of time to worry about what to do with your
life.
Aksaya lamang sa oras ang pag-aalala o pag-iisip sa mga
bagay na gagawin mo sa iyong buhay o kinabukasan.
18. I seek the advice of people who know about the tasks I am
working on.
Hinahanap ang payo ng mga taong marunong sa trabahong aking
ginagawa.
19. I think about the advantages and disadvantages or
different ways of accomplishing things.
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Pinag-iisipan ko ang pakinabang o ikasasama ng iba’t ibang

paraan upang magawa at matapos ang aking gawain o layunin.
20. I do not spend much time thinking how to influence others.
Hindi ko pinag-aaksayahan ng panahon na pag-iisip kung paano
ko makukumbinsi ang iba.
21. I change my mind if others strongly disagree with me.
Binabago ko ang aking pananaw o kaisipan kung ang iba ay
hindi sumassang-ayon sa kagustuhan ko
22. I feel resentful when I don’t get my way.
Nagagallit at naiinis ako kapag hindi nangyayare ayon sa
kagustuhan ko ang mga gawain o proyektong gusto ko.
23. I like challenges and new opportunities.
Mahilig ako sa mga pagsubok at bagong oportunidad sa buhay.
24. When something gets in the way of what I’m trying to do, I
keep on trying accomplish what I want.
Sinusubukan ko paring tapusin ang gusto kong tapusin sa
gitna ng balakid.
25. I am happy to do someone else’s work, if necessary, to get
the job done on time.
Masaya akong gawin ang gawain ng iba kung kinakailangan
upang matapos lamang ito sa oras.
26. It bothers me when my time is wasted.
Hindi ako mapakalli kung nasasayang ang aking oras.
27. I weigh my chances of succeeding or falling before I
decide to do something.
Tinitimbang ko kung ako’y magtatagumpay o mabibigo bago ko
gawin ang isang bagay.
28. The more specific I can be about what I want in life, the
more chance I have to succeed.
Kapag mas magiging tiyak o maalam ako sa gusto ko sa buhay,
mas malaki ang pagkakataon kong magtagumpay.
29. I take action without wasting time gathering information.
Kumikilos ako ng walang inaaksayang oras sa pangangalap ng
impormasyon.
30. I try to think to all the problems I may encounter and
plan what to do if each problem occurs.
Sinusubukan kong isipin lahat ng problema na maaaring
mangyari at plinaplano ko ang solusyon sa bawat isa kung
sakaling ito ay maganap.
31. I get important people to help me accomplish my goals.
Nagpapatulong ako sa mga mahahalagang tao para tapusin ang
aking mga balakin o layunin.
32. When trying something difficult or challenging, I feel
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confident that I will succeed.

Kapag sinusubukan kong gawin ang mahirap na gawain, malakas
ang loob at tiwala ko sa aking sarili na magtatagumpay ako.
33. In the past, I have had failures.
Nasusubukan ko nang mabigo sa nakaraan.
34. I prefer activities that I know well and with which I am
comfortable.
Mas pinipili ko ang mga gawaing kavisado ko at komportable
ako.
35. When faced with a major difficulty, I quickly go on to
other things.
Kapag masuliranin ang aking ginawa, nag-iiba ako ng
ginagawa.
36. When I am doing a job for someone, I make a special effort
to make sure that person is happy with my work.
Kapag gumagawa ako ng gawain para sa iba, pinag-iibayo at
pinag-sisikapan kong gawin ito ng maayos upang matuwa sya sa
aking trabaho.
37. I’m never entirely happy with the way in which things are
done; I always think that there must be a better way.
Kailan man ay hindi ako nakontento sa pagkakagawa o
pagkakayare ng mga bagay-bagay; naniniwala ako na meron at
merong ibang pamamaraan para mas maging maganda ito.
38. I do things that are risky.
Ginagawa ko ang mga bagay na hindi ako siguradong maganda o
mabuti ang magiging kahihinatnan o resulta nito.
39. I have a very clear plan in life.
Mayroon akong maliwanag at siguradong plano sa buhay.
40. When working on a project for someone, I ask many
questions to be sure I understand what that person wants.
Kapag nagtratrabaho ako para sa isang tao, marami akong
katanungang ginagawa upang masiguradong maiintindihan ko
kung ano ang gusto niyang mangyari.
41. I deal with problems as they arise, rather than I spend
time trying anticipate them.
Sinusulusyonan ko ang mga problema kapag nangyayari na.
Hindi ko pinag-aaksayahang pag isipan ito kung hindi pa ito
nangyari.
42. In order to reach my goals, I think of solutions that
benefit everyone involved in a problem.
Upang maabot ko ang aking mga layunin, iniisip ko ang mga
solusyon na makakapagbigay benipisyo sa bawat isang apektado
ng problema.
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43. I do every good work.

Gumagawa ako ng maganda at mahusay na trabaho.
44. There have been occasion I took advantage of someone.
Mayroong mga pagkakataong nilalamangan ko ang aking kapwa.
45. I try things that are very new and different from what I
have done before.
Sinusubukan ko ang mga bagay na bago at iba sa mga dati ko
nang ginawa.
46. I try several ways to overcome things that get in the way
of reaching my goals.
Sinusubukan ko ang mga iba’t ibang paraan upang malampasan
ko ang mga bagay na humahadalang sa aking mga layunin.
47. My family and personal life are more important to be than
work deadlines I set for my life.
Mas mahalaga para sa akin ang aking pamilya sa personal na
buhay kaysa sa mga gawain na dapat matapos sa nakatakdang
oras.
48. I find ways to complete task faster at work and at home.
Baghahanap ako ng mga paraan uoang mas mapabilis ang
pagkakayari ng aking gawain ssa trabaho at sa bahay.
49. I do things that others consider risky.
Ginagawa ko ang mga gawain na itinuturing ng iba na walang
katiyakan.
50. I am as concerned about meeting my weekly goals as I am
for my yearly goals.
Inaalala ko ang gusto kong tuparin ang aking mga lingguhang
layunin katulad ng kagustuhan kong tuparin ang taunang
layunin ko.
51. I go to several sources to get information to get help
with tasks or projects.
Naghahanap ako ng iba’t ibang maaaring pagmulan ng mga
inpormasyon na makakatulong sa aking gawain.
52. If one approach to a problem thus not work, I think of
another approach.
Kapag ang isang paamamaraan sa problema ay hindi epiktibo,
nag-iisip ako ng ibang paraan.
53. I am able to get people to have strong opinions or ideas
to change their minds.
Kaya kong baguhin ang kaisipan ng mga taong mayroong matigas
na pananaw, paniniwala o kaisipan.
54. I stick with my decisions even if others disagree strongly
with me.
Pinaninindigan ko ang aking desisyon kahit ang iba ay hindi
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sumasang-ayon sa akin.
55. When I don’t know something, I don’t mind admitting it.
Kapag hindi ko alam ang isang bagaya, hindi ako nahihiya
aminin ito.

How to score
1. Using the table below, do the following:
• Enter ratings from the completed questionnaire on the
lines above the item numbers in parenthesis.
• Do the addition and subtraction indicated in each row to
compute each PEC score. Note that the item numbers in the
columns are consecutive. Item no.2 is below item no.1,
and so on.
• Add all the PEC scores to get your total raw scores.

Ratings of Statements Score PEC

___ ___ ___ ___ ___
+ + - + + 6 = Opportunity seeking
(1) (12) (23) (34) (45)
___ ___ ___ ___ ___
+ + - + + 6 = Persistence
(2) (13) (24) (35) (46)
___ ___ ___ ___ ___ Commitment to
+ + + - + 6 =
(3) (14) (25) (36) (47) Contract
___ ___ ___ ___ ___ Demand for quality/
+ + + - + 6 =
(4) (15) (26) (37) (48) efficiency
___ ___ ___ ___ ___
- + + + + 6 = Risk taking
(5) (16) (27) (38) (49)
___ ___ ___ ___ ___
- + + + + 6 = Goal setting
(6) (17) (28) (39) (50)
___ ___ ___ ___ ___
+ - + + + 6 = Information seeking
(7) (18) (29) (40) (51)
___ ___ ___ ___ ___ Systematic
+ + - + + 6 =
(8) (19) (30) (41) (52) planning/monitoring
___ ___ ___ ___ ___ Persuasion and
+ + - + + 6 =
(9) (20) (31) (42) (53) networking
___ ___ ___ ___ ___
- + + + + 6 = Self-confidence
(10) (21) (32) (43) (54)
___ ___ ___ ___ ___
- - - + + 6 = Correction Factor
(11) (22) (33) (44) (55)

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After completing the rating table, proceed to the next steps.

2. Get your net score by subtracting the correction factor from
your total raw score. The correction factor is used to
determine whether or not a person tries to present a very
favorable image of herself. If the total score on this factor
is 20 or greater, then the scores on the PECS must be
corrected to provide a more accurate assessment of the
strength of the PEC scores for that individual. Follow the
following steps:
a) Go to the last column of the ratings table. Total your
scores in Item 11, 22, 33, 44, and 55. The sum you will
get is the correction factor score.
b) Now that you have the correction factor score, use the
following guide in figuring how much to subtract from
your raw score. Encircle or highlight the numbers that
correspond to your score.
If the correction factor Subtract the following
is: number from each PEC:
24 or 25 7
22 or 23 5
20 or 21 3
19 or less 0

3. Now you can correct your raw scores in each PEC. Use the
following table while referring to the original ratings.

Original Correction Corrected

PEC - =
Score Number Total
Opportunity seeking - =
Persistence - =
Commitment to Contract - =
Demand for quality/ efficiency - =
Risk taking - =
Goal setting - =
Information seeking - =
Systematic planning/monitoring - =
Persuasion and networking - =
Self-confidence - =

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4. Get your PEC profile by transferring the corrected PEC score

to the profile sheet below. Using the profile sheet on the
next page, follow the steps below:
a. Mark an “x” at the appropriate point on the horizontal
line for each PEC.

Example: If the score for opportunity seeking is 17, it

will appear as follows:

Opportunity seeking: ___ : ___ : ___ : x_ : ___ :

0 5 10 15 20 25

b. Draw a heavy vertical line connecting the “Xs” for each

PEC and you have constructed your PEC profile.

PEC Profile Sheet

Opportunity seeking

Persistence

Commitment to Contract

Demand for quality/ efficiency

Risk taking

Goal setting

Information seeking

Systematic planning/monitoring

Persuasion and networking

Self-confidence

0 5 10 15 20 25
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Topic 3: Wellspring of Entrepreneurship: Are Entrepreneurs Born or

Made?
Are entrepreneurs born or made? In other words, are
entrepreneurial qualities already present in the child when he
is born perhaps as inherited characteristics from his parents,
or are these qualities developed through life? There was a time
when it was believed that entrepreneurs were born rather than
made. So unique and so rare were their qualities that they
couldn't be found just anywhere. Nowadays, however, there is
enough evidence to show that entrepreneurial qualities can be
developed early in life as a result of childhood training in
independence and self-reliance, among others, and exposure to
certain cultural values relating to work and industry.

Early Life Experiences

Psychologists maintain that the first five years are the
most influential in the life of an individual. It is at this
time that the social, economic, physical and psychological
atmosphere surrounding the child leaves lasting imprints on his
personality. It is the time when the family and home exert its
greatest influence in shaping most future behaviors of the adult
person the child will become. For example, it was found that
children whose mothers lovingly but consistently provided them
early intellectual stimulation through stories, books, toys,
games and conversation usually ended up with high grades in
school. When other members of the home showed concern, affection
and sensitivity over the children, the latter were likely to
become secure affectionate, happy, cooperative, emotionally
stable and intellectually curious as children as well as later
when they grew up to be adolescents and adults.

What sort of home atmosphere did entrepreneurs grow up in?

1. Early training in independence, self-reliance, decision making

and hard work.
Studies that looked into the background of success
entrepreneurs reveal that they have come from homes wherein
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independence and self-reliance were given premium value. Thus,

as children, most entrepreneurs learned quite early to dress
themselves, to cross the streets on their own and to choose
their own friends. To make full use of their leisure time, their
parents taught them to be busy with their hands at some task or
craft. They were not rewarded if they were lazy, demanding and
spoiled; but their parents were quite permissive and rewarding
if they showed diligence, initiative and independent action.
These parents might be called democratic and as such, instilled
reasonable discipline within the home while allowing the
children freedom to question family rules and regulations.
In contrast, authoritarian parents who demanded submission,
obedience and acceptance of authority figures among their
children did not produce entrepreneurs among their offspring.
They tended to be overprotective of their children, putting a
lot of constraints on their movements.
Evidently, exposure or training of children to self-
reliance, independence, decision-making and hard work early in
life has a lot to do with developing entrepreneurship. This is
further supported by findings on the origins of entrepreneurs
who came from broken or disunited homes. This study revealed
that entrepreneurs usually come from families which had been
unstable and had experienced crisis situations, like death of
one or both parents, separation of parents, rebellion of
children against parents or stowing away of children from home.
Such children must have been forced, and therefore learned
early, to tend for themselves, seek means of livelihood and make
decisions on their own.

2. Early training in business

Exposure to parents who are in business or in elated
occupations also seem to help develop entrepreneurship in
children. This 1s the way the Chinese train their children. As
he grows up, the Chinese child learns to sell, count money, give
change, market or deliver goods. The parents treat the training
both as play and education for the child.

3. Early Training in a Craft or Trade

Apart from orienting the young towards self-reliance,
families are apparently important in providing early training in
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craftsmanship to children. Such early exposure has greatly

helped many entrepreneurs succeed in business venture. For
example, while still a young boy, Alfredo C. Ongyangco always
preferred carpentry, auto mechanics and radio electronics to
school work. He enjoyed tinkering with anything he could lay his
hands on. When he was 12, he became a small, happy and able
helper at an uncle’s repair shop. Soon he was making his own
radio, lampshades, water heaters and stereo sets. Later, he took
up engineering in college but dropped out eventually to pursue a
greater interest in entrepreneurship. He went to Davao where he
set up a small auto repair business empire of eight companies
specializing in auto repair, motor parts manufacture and sales.
The young apprentice became a multimillionaire.

Cultural Values
The emergence of entrepreneurs is also related to cultural
values, or those ideals held by community as standards for
social or interpersonal behavior. Values are upheld because they
are viewed to be conducive or necessary to the welfare of
everyone in the group.
1. Ideals of competition
Entrepreneurship flourishes under a climate of competition
that stimulates the competing parties to find ways of using and
managing their resources more efficiently and more productively
rather than one that encourages unfair trade practices like
underpricing, selling cheap, low quality products and maligning
of competition.
2. Time orientation
Long range planning and anticipation of future trends are
success in business. Thus, entrepreneurs are and usually belong
to cultures that appreciate the value of foregoing immediate
profit or satisfaction in favor of large rewards. Cultures which
tend to view the present in terms of the future are conducive to
the growth of the entrepreneurial spirit.
3. Views on Trading
Trading has been the seedbed of many an entrepreneur. Many
successful businessmen started as vendors or traders. A culture
that desires to develop more entrepreneurs must reward people
who try to earn money from humble ventures. It must view
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peddlers, vendors and traders not as objects of pity but rather

with admiration and praise.
4. Conferment of Social Ranks
A culture that promotes entrepreneurship is one that confers
social ranks in terms of actual achievements rather than
circumstances of birth. A culture that encourages
entrepreneurship (like Hong Kong Singapore and the Philippines)
a person can move up or down the ladders of society depending on
his labors or accomplishments. One who gets rich by honest, hard
work 18 respected even 11 he was born to a beggar once upon a
time.
5. Work ethics
Another very important cultural source of entrepreneurship
is work ethics. The culture must look at work as a duty, and it
must value honest, productive labor while punishing laziness.
6. Views on Money
The attitude of a culture towards the value of money (and
thrift) seems to encourage the emergence of many entrepreneurs.
Thrifty people who appreciates the value of money will find it
wasteful to spend too much on beautiful but not necessarily
durable products. They go for utility and practicality. This
attitude further encourages inventiveness or innovation because
entrepreneurs will then try to look for ways to manufacture a
given product at lesser cost, or by using other types of
material, process or equipment.

Filipino Values Favorable to Entrepreneurship

1. Pakikipagkapwa" values promote ideals of entrepreneurship

Our value for pakikipagkapwa (human relations) which
encompasses our concern of hiya (loss of face), pakikisama
(togetherness), pakikibagay (adjusting or accepting to other
people). At the root of this values lies all our standards of
interaction with others. Pakikipagkapwa tells us to treat others
as fellow human beings. This value is very much connected with
our concept of pagkatao or character.
The entrepreneur that has pakikipagkapwa does not cheat his
customers by overpricing or under-weighing his goods; nor
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undercut is competitors by underpricing or maligning them, nor

maltreat his workers by underpaying or overworking them, nor
cheat the government by avoiding or evading taxes. At the same
time, other Filipinos who benefit from the labors of the
entrepreneur will give him back his due. Customers pay,
competitors play fair, and workers show malasakit over the
business. If pakikipagkapwa is cultivated well, it should
promote and uphold the ideals of entrepreneurship.

2. Many values promote risk-taking or "lakas ng loob

Entrepreneurship involves some amount of risk-taking because
much of the entrepreneur is decisions and actions are made
during conditions or uncertainty. Individuals who are without
"guts or who shrink before challenges do not become
entrepreneurs.
• Bahala na
In situations where we are uncertain of our ability to
accomplish things, we say "bahala na” (let fate decide the
outcome) and do the best we can, believing that, "Nasa Dios ang
awa, nasa tao ang gawa (Look to God for compassion and to man
for action).
Perhaps our lakas ng loob stems from tremendous capacity to
tolerate ambiguity, and to make improvisations or remedyo. You
can see sample evidence or this among many poor families who,
despite their meager resources, nevertheless have high
occupational and educational goals for themselves.
Notwithstanding hand-to-mouth subsistence living, they manage to
send six, seven or eight children through school, going through
life with enough strength of spirit to believe that they can
cope with any difficulty that may come along in the future.
"Bahala na,” they would say.
• Pakikipagsapalaran
The saying “Ang taong talagang duwag, tumatakbo’y walang
sugat” (a coward runs away from the fight even before he is
wounded) tells us that we do not consider it honorable to
retreat before uncertainty or challenge. In many instances,
especially in the field of making a living, our confidence or
lakas ng loob is justified, because we are very quick to learn
and find it easy to adapt to new and strange situations. It is
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not a surprise why there is plenty of mobility among our

countrymen; and it is not uncommon to find inter-city or inter-
province migration as precipitated by the love for
pakikipagsapalaran (adventure). That is risk-taking.
• Gaya-gaya
Our ability to learn and adapt to new ways of doing things
may also be seen in our talent for gaya-gaya or imitation. Of
course, as one matures in an entrepreneurial career, the habit
of gaya-gaya can backfire because one really has to be more
creative and innovative to make one’s products and services more
appealing to customers. But, for those who are only starting out
in business doing gaya-gaya of other products do contribute to
the training and preparation of many Filipinos for an
entrepreneurial career.
• Close family ties
In most Filipino families, children are taught the values of
honesty, hard work, cooperation and self-sacrifice for the
common good, that is, for the sake of father, mother, brothers,
sisters, relatives. The emphasis on "togetherness provides
plenty of support to any aspiring entrepreneur. If he lacks
capital, the family can pool resources which he can borrow and
pay without interest; if he needs workers, his kin can help out
and render service with the loyalty and dedication which can
only come from blood ties.
• Utang na Loob, Hiya, Awa, Bayanihan
Apart from the family, there are others around us who
provide much needed support. There may be the ninong and ninang,
kababayan, kumpare, kumare, kaeskwela, katokayo and others who
are willing to help us simply from goodwill, in return for some
past utang na loob or the expectation of some future time when
they, in turn, need our assistance. In business, this may mean
that we can count on them to buy from us. If they do that on
utang (credit), they have to pay because of hiya (loss of face)
or awa (compassion). We can also expect

3. Other Values drive us to succeed in enterprise

• Kasipagan
• Pagtitipid
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• Pagtitiis
• Pagtitimpi

4. “Katapatan” as a value promotes ethical business practices

As the largest Christian nation in Asia, we have a heritage
for strong religiosity, which demands that we be honest in our
dealings with others. We do not like to exploit others,
otherwise we are tagged masamang tao (worthless persons). Rather
we emphasize katapatan (sincerity) or kalinisan ng kalooban
(purity of heart). This trait is very useful in business since
exploitative ways are always self-defeating in the long run.
A business deal is a transaction where trust is a silent
participant. The customer trust that the entrepreneur gives him
the right quality and quantity of the things he buys, and the
entrepreneur trusts that the customer pays him the agreed and
correct amount at the right time.

5. Our values promote harmonious labor-management relations

For his emphasis on katapatan and kalinisan ng kalooban, the
Filipino cannot but be a good manager of his workers. He treats
his people with concern or malasakit. He sees to it that there
is damayan (mutual help) and samahan (camaraderie) in his
company, and that his workers find him to be personal, madaling
makagaanan ng loob (easy to like) and may awa (compassionate).
Since workers usually do not grumble unless the situation
becomes too intolerable, the Filipino entrepreneur exerts effort
to monitor their desire through pakikiramdam (gut feel) and
reading the many pahiwatig (covert message) available to him.
Meanwhile, he will be fortunate to have workers who will not
abuse him because of their utang na loob to him and for all his
malasakit, pagdamay (sympathy) and balato (bonus), not to
mention their job itself. They will reciprocate by showing their
own paggalang (respect) pagmalasakit, pagtulong (helpfulness),
pagdamay, pagpuno sa kakulangan (understanding of one's
inadequacies) and solidarity.

6. Our values promote social mobility

We are fortunate to live in a culture where there is respect
for people who rise from the bottom through hard work. Unlike in
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some countries, where people have very little hope of rising

above the classes or castes of their birth, every Filipino can
aspire to be rich and prosperous. This cultural orientation
favors the spawning entrepreneurial talents.

Practices and Values Deterrent to Entrepreneurship

Here are some traditional Filipino values which hinder the
development of the entrepreneurial spirit among us.

1. Traditional child rearing practices inhibit the development of

an independent spirit
Many parents insist on the traditional, authoritarian way
of bringing up children. The little ones discouraged from taking
initiatives, exploring their surroundings and asking questions,
especially if such questions suggest disobedience contrary views
to those in authority. Children who are active, curious and
adventurous are called malikot (hyperactive or restless), those
who display an independent mind are labeled matigas ang ulo
(hard-headed). Children are taught to obey, to accept authority
without question and to believe that the elders know what is
best for them.
Why is such an upbringing dysfunctional to
entrepreneurship? Growing up in a strict, authoritarian
environment effectively kills the independent spirit which, we
know, is the first hallmark of a successful entrepreneur.
Any individual, who has been brought up to blindly accept
authority is not prepared to make independent, objective
decisions an entrepreneur often has to make. For one thing, the
subservient person will be readily swayed by opinions of others
who may be older than him but who may not know as much about the
business as he does. Secondly, he is not likely to believe in
his own ability to shape his own success but rather that life is
determined by forces over which he has no control. Thus, he is
likely to be timid and superstitious, believing in swerte and
malas (good and bad luck).

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2. Belief in the existence of all-powerful forces that control

all destinies may destroy entrepreneurial initiative
Many of us believe that “Ang kapalaran, di ko man hanap
dudulog at lalapit kung talagang akin” (one doesn’t have to work
for something that has been fated to be his), and “kung di ukol,
di bubukol” (what is not destined to be won’t be). And convinced
that blessings come from an exhaustible source, some of us fear
about having too much kapalaran or swerte, lest others go
without their share. These beliefs held by our people for a long
time, were strengthened by circumstances of their livelihood.

3. “Amor propio” disinclines the Filipino to take full

responsibility for his action when he fails
While this may spur all of us to give of our best to any
undertaking to ensure success, it, however, also causes us to
disown our failings. As we succeed, we feel good and take full
credit for it. But as we fail, we tend to point the
responsibility on another. To own our failures is to bring shame
or hiya to ourselves and our family. This tendency to pass the
buck is not a trait of entrepreneurs. While they feel bad about
a failing, enterprising men like to review the reason why they
failed so that they can perform better the next time around.
They like to get concrete feedback not only on success but also
on failure.

4. The “banala na" attitude, if not tempered by intelligent

judgement and planning, may lead to imprudent business
decision making
Many Filipinos waste much of their energies and time on
plans and projects which they undertook mostly on the basis of
bahala na rather than on an intelligent analysis and planning ot
their resources. This failure to plan wisely may also be due
partly to our aversion to negative feedback on our performance.
Entrepreneurs should have some dose of courageous bahala na
spirit but this should not prevent them from studying the risks
involved.

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5. The family and kin may be very supportive, but they can also
do harm to the business enterprises
Another value which has both positive and negative effects
on entrepreneurship is the close family kinship system. While
this value is a potent source of support to the budding
entrepreneurs, it can also be a source of headache. For example,
there is the joke that in the Philippines, success is "relative
because the more successful you are the more relatives you have.
Because family members and fiend expect to be treated as
special, they sometimes expect discounts employment, unlimited
credit, etc., which may harm the business and because we value
their approval, it is difficult for us to deny or fail them.
Thus, instead of being objective in our decisions we become too
personal and subjective. All of us must learn to use the value
of kinship positively, and not allow it ruin our business.

6. Colonial mentality impedes the development of a self-reliant

entrepreneurship
Another trait that we have which runs counter to
entrepreneurship is what has been known as the colonial
mentality which suggests that we tend to believe that anything
imported is necessarily better. Thus, we blindly copy foreign
technology, products, design, fashion, etc. This mental attitude
has negative effects on entrepreneurship because this may lead
to enterprises that are import-dependent, products promoting
foreign values and tastes and copy-cat entrepreneurs lacking in
creativity and inventiveness.

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Activity No. 3: UNDERSTANDING/ANALYSIS/APPLICATION

Read and analyze the following questions carefully.

1. Which groups in the Philippines have been stereotyped as
“business minded?” What factors do you think inclined them to
business?
_________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
2. Why are some Filipinos not as entrepreneurial as they ought
to be? How does this affect the rate of development or level
of prosperity of the country?
_________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
3. Given the early life and cultural experiences of
entrepreneurs as outlined in this topic, how do you appraise
your own readiness for entrepreneurship?
_________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________
_______________________________________________________________

Continue on separate sheet if necessary.

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Topic 4: Developing Yourself for Entrepreneurship

Guidelines to help you acquire the orientation,
habits and attitudes which are important in entrepreneurship
This will give you the tools to develop your creativity,
goal setting, risk taking, information seeking and other
behavior associated with successful entrepreneurs.

Be Creative
To be creative is to generate ideas and images in your head
in order to come up with solutions or alternative solutions to
problems. Creativity involves moving around ideas, splitting
them, combining them with other ideas; and thus, arriving at a
new way of doing things.
For example, in your creative moments try asking one or more
of the following questions about anything you have in mind:
Is there a way to do it o more easily?
o more quickly?
o More pleasantly?
o More safely?
o More healthfully?
o More comfortably?
o More cleanly and neatly?
o More surely?
o More cheaply?
o More attractively?
o More smartly?

Can it be made o more useful, that is,

multi-purpose?
o more adaptable to other
uses?
Can its value be enhanced?
Can it be combined with some other existing tool or device?
Can it be made disposable or portable?
Can its distribution methods be improved?
Can its package be improved?

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Try it with a flashlight, lampshade, umbrella, piece of

furniture, organizers, etc.

Actively Seek for Opportunities

A successful entrepreneur actively seeks for opportunities.
He/she looks at a situation and thinks, “what’s in here that can
be turned into a business?” or if he/she is already in business,
he/she asks himself/herself, “ what’s in here that will be good
for my business or will improve it?”
Opportunity seeking is very important; it will help you in
many ways. Here are some examples:

• If you actively seek opportunities, you will find customers

or markets where other people find none.
• If you actively seek opportunities, you will find new uses
for old products, including waste products.
• If you actively seek opportunities, you will find new ways
of doing things.
• If you actively seek opportunities, you will find new
products for old markets or customers.

Take Moderate Risks

In many life situations, including business situations,
risks are involved. The successful entrepreneur takes risks, but
before doing so, is able to recognize, assess and minimize these
risks. This is known as calculating, moderating or controlling
the risks. In business, calculating the risk is checking if you
will make or lose money in the process of doing business.

Achievers are moderate risk takers. High risks are not

preferred because the chances for failure are great. On the
other hand, low risk situations are also shunned because they
are not challenging enough.
What must you do to be a moderate risk taker? Here are some
suggestions:

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1. Assess the situation carefully. Before investing your money in

the poultry business, for example, make sure that you’re not
finishing up all your savings, that there is enough space in
your backyard for building cages, that there is reliable
supplier of feeds near you, that you have time to feed, water
and clean the stock, that you have the market to sell to, and
so on and so forth.
2. Find if your actions will have negative side-effects. A
poultry farm right in your backyard can bring lots of flies
and other pests. Neighbor may complain of the smell coming out
of it, especially if you don’t clean it often. A moderate risk
taker must be prepared to cope with these possibilities.
3. Ask for advice from knowledgeable people. Don’t be too shy or
too proud to ask information and advice from experienced
poultry raisers, from veterinarians, from extension workers of
the Bureau of Animal Industry (BAI), from bank officers and
others. A high-risk taker may think that he/she can do
business without anyone’s help. A moderate risk taker will get
all advice and information she can get to ensure that she
succeeds.
4. Plan for contingencies. Be ready for unseen events, like
prolonged bad weather, disease and epidemic which might
endanger your stock. Success in risk taking is to be well-
prepared for all eventualities.

Practice Persistence

Trying and trying again until you succeed is what

persistence is all about. 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.

Many successful entrepreneurs nowadays have also

experienced failure in their first attempt but they refused to
be discouraged. You might also experience initial failure when
you decide to be an entrepreneur. If you do, remember that
persistence breeds success.

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If you feel that being persistent is difficult, you must realize

three things:
1. Don’t give in quickly when some disagrees with you.
2. If you get angry at someone who stubbornly disagrees with you,
your persistence will wear off quickly because you will be
concentrating on your anger.
3. Face the opposition squarely and openly. Avoid “behind the
back” tactics. Do not criticize or badmouth the oppositions in
their absence. These are not the weapons of those who are
negotiating with confidence. A truly persistent person will be
strong enough to change what needs to be changed and do what
needs to be done even if others disapprove.

Be Committed to What You Set Out to Do

Do you make promises you cannot keep? Do you find it hard
to meet deadlines? Do you start work with enthusiasm and then
lose interest before it is done? If your answer is “Yes”, this
means that you lack commitment.
Keeping promises and commitments is the very heart of
entrepreneurship. Here are some guidelines that may help in
building up your commitment to work contract:
1. Have strength of character. Entrepreneurs have palabra de
honor. Their word is their honor. People with strong character
will honor what they say – come what may. if they fail to keep
their word, they admit it as their mistake or shortcoming.
2. Make only promises you can keep. Think carefully before giving
promises.
3. Know what to do when you cannot keep a promise.
4. Cultivate the trust of others. Keeping promises, giving honest
explanations for broken promises, dealing with people fairly
and justly – these are ways to win people’s trust.
5. Clarify expectations.
6. Apologize sincerely – when you cannot keep your promise.

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Set High Standards of Quality and Efficiency

The good entrepreneur demands quality and efficiency not
only from her workers and suppliers but also from
himself/herself. She sets an example for excellence that expects
the people who work with her to follow. In this way, she makes
sure that the products and services she sells are of good
quality. This means good business.

Seek Information
Knowledge or information is power. You need information to
get wind of business ideas and opportunities. You need
information to determine whether your business idea will be
profitable or not, to find out whether there are people who will
buy your products and at what price. You need information in
order to find about your competitors and how you can compete
with them in the marketplace. You need information about sources
of assistance for your business. You need information about
sources of business loans.
Where do you get information? An important source of
information is your own experiences and observations. However,
oftentimes these are not enough. We have to actively seek
information from outside sources. These sources may be formal
(newspapers, radio and TV broadcasts, information desks of
institutions, surveys, conferences, researches, etc.) or
informal (the grapevine, conversations with other entrepreneurs,
inquiries with suppliers, telephone calls, etc.) Many
entrepreneurs get information by joining industry chambers where
they get to exchange experiences and know-how with other
entrepreneurs in the same or similar business.
If you are a student, join business-oriented groups like the
Junior Achievers Society and young entrepreneurs’ clubs. Tune in
to business-oriented programs on television and radio. Sign up
for entrepreneurship seminars and courses. Talk with relatives
and friends who are already in business. Ask questions. Develop
curiosity to know more about business. Take on apprenticeship
work, even if unpaid. This is the best way to gather information
about business.

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Set Clear and Realistic Goals

In setting your goals, remember the following:
1. Be realistic. Know your strengths and weaknesses as well as
the Support and obstacles present in your environment.
2. Be self-reliant. Do not aim for something which depend on many
other people and circumstances tor its attainment.
3. Select those goals which are important to you and which allow
you to perform your best.
4. Focus on positive objectives. In other words, try to think of
goals which will make you become, do or attain something
rather than those which call for you to stop or avoid doing
things. In case you wish to reform yourself, think of an
alternative positive goal which is important to you and whose
attainment will mean the elimination of the undesirable habit.
Gather as much information as you can on the goals which you
set. Try to set both long and short-term goals for yourself.
These
goals, however, have to be regularly reviewed and modified.

Believe in Yourself

Entrepreneurs are rather self-confident people. They believe

that they can achieve their goals. So must you. If you do not
have
faith in yourself, no one else will. For you to be able to make
things happen, you must first recognize that you can do so, and
nobody else. Here are ways to develop your self-confidence:
1. Know as much of yourself as you can. What are your strengths?
What are your weaknesses? Take time out regularly to reflect
about your knowledge regarding your strengths and weaknesses.
2. Look at your qualities in a realistic manner. Neither
underestimate nor exaggerate your own abi1lities and talents.
Compare your ideas about yourself with what others say about
you. Talk to your family and friends to know what they think
of you. If you can, get to know why some people avoid making
friends or working with you.
3. Emphasize your strengths and play down your weaknesses by
choosing activities and goals where you do best. You can
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select projects which allow you the freedom to express

yourself most creatively. Harness your capacities as much as
you can.
4. Take care of yourself physically so that you look good to
yourself and to others. If you look good, you will feel good
about yourself. This will be translated as confidence as you
move around and pursue your goals.

Plan Systematically
It is not enough to set your goals. You have to plan
activities leading to these goals. With planning comes
monitoring, which is
necessary to check how far and how well you have done.
In planning, you think of the many small activities you will
have to carry out to accomplish bigger or more complicated ones.
You put these individual activities in proper or logical order
so that in the end you can say that you have accomplished what
you planned for. Scheduling is an important part of planning.
You must learn how to schedule your activities well ahead of
time, not when you urgently need to do these activities. This
way, you will avoid stress. It also involves prioritizing
activities so that we either do the most important things first
or devote to them the biggest chunks of our time.
Monitoring, on the other hand, involves looking at what
parts of the plan have been done and what have not been done.
Monitoring also asks for the reasons why the plans have not been
followed and what alternatives are available if the plan proves
to be difficult to follow.

Be Persuasive
Burton Kaplan provides the following suggestions to develop
your persuasiveness:
1. To win people over completely, you must appeal to their heart
as well as their mind. They need to be persuaded at these two
levels to go along with you.
2. Present your 1dea in a way that is logical from the other
person’s viewpoint. Start by pointing out the benefit that
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they will enjoy related to their need, problem, desire, value

or difficulty. End with a specific reference to your product,
idea or service in ways that will provide them satisfaction or
answer.
3. Ask questions that will give you more information about their
needs. People have certain needs and desires that you could
find out and possibly satisfy.
4. Agree with their remark and build on it to push your product,
service or idea.
5. Close the deal by assuming the sale has been completed. To do
this you act and speak like there is already a mutual
agreement arrived at.
Related with persuasiveness is networking. An entrepreneur
needs other people to succeed in business - customers,
suppliers,
bankers, business advisors, government officers, etc. The
process of linking up with others, either formally or
informally, is called
networking.
How do you establish linkages? Get out of your own backyard
to meet people. Attend gatherings. Join clubs and associations.
Stay after church services for a chat with other parishioners.
Be present at alumni reunions. Attend seminars and conferences.
Talk with other parents during parent-teacher meetings in your
children's school. This is the first step in networking. Follow
up with phone calls. Invite them to your own parties.

Practice Entrepreneurship
Experience is the best teacher. Try what it is like to be a
businessman. If you have a father, relative or friend who owns
an enterprise, arrange or you to work there during the holidays.
Know what it's like to run and manage a business.

Better still, put up your own small venture. You can start
by selling things to friends and neighbors. You can make and
sell foods, fruit juices, rags, pots, cards, products out of
recycled materials, anything people might need.

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Activity No. 4: APPLICATION

Read the instructions carefully.

1. Prepare a daily planner for the next seven (7) days. At the
end of each day, answer the following questions:
• What were the planned activities that I was able to do?
• What were the planned activities that I was not able to
do?
• What accounted for my failure to do some of the planned
activities?
• What must I do next time to succeed in carrying out my
plans?
2. List down your weak personal entrepreneurial characteristics
which you wish to develop and propose at least two (2)
activities or measures that you can do to strengthen your weak
PEC?
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Recommended Learning Materials and Resources for Supplementary Reading

Watch the following videos:

Personal Entrepreneurial Competencies,

https://www.youtube.com/watch?v=0DYFDK8r9s0

What makes an entrepreneur?,

https://www.youtube.com/watch?v=r8nHptyS234

Flexible Teaching Learning Modality (FTLM) adopted

Remote learning will be done through module, handouts,
lectures saved in flash drive, as well as submission of
worksheet/activity sheets and reaction papers. For online
learning, the topics, online quizzes and major exams will be
accessible through Google Classroom (i.e. Google Forms).
Announcements will be made in Group Chat (FB messenger) and
announcement sections in Google Classroom.

Assessment Task
The performance of the students will be assessed through:
• Worksheets/Activity Sheets
• Online Quizzes
• Major Exams

References
Havinal, V. (2009). Management and Entrepreneurship. KArnataka:
New Age International.
Hortovanyi, L. (2012). Entrepreneurial Management. AULA Kiado
Kft, Hungary: Budapesti Corvinus Egyetem.
Mariotti, S. (2010). Entrepreneurship: Owning Your Future (11th
Edition ed.). New Jersey: Prentice Hall.

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Ogbe, A. A. (2018). Funadamentals of Entrepreneurship

Development. Kampala: Panamaline Books Distributors
Limited.

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