Personal
Personal Entrepreneurial
Competencies
Entrepreneurial
Competencies
Introduction
In this module, you will learn more about entrepreneurship and the
entrepreneurial competencies related to Cookery. You will have a
first-hand experience in educational activities leading to personal
assessment of your entrepreneurial competencies and assessment of
entrepreneurial competencies of a successful chef within your area.
You will also have some activities that will align your competencies
those of successful practitioners. Moreover, this module will
stimulate your mind to think about entrepreneurship and its role in the
business community, as well as in the economic and social
development.
To start with this module, let us first understand entrepreneurs and
entrepreneurship.
Entrepreneurs are people with skills and capabilities to see and
evaluate business opportunities. They are individuals that can
strategically identify products or services needed by the community
and they have the capacity to deliver these at the right time and at the
right place.
Entrepreneurs are agents of economic change; they organize, manage
and assume risks of a business. Some of the good qualities of an
entrepreneur are opportunity seeker, risk taker, goal setter, excellent
planner, a confident problem solver, hardworking, persistent, and a
committed worker.
Entrepreneurship, on the other hand, is not just a simple business
activity. It is a strategic process of innovation and new venture
creation. Basically, entrepreneurship is both an art and science of
converting business ideas into marketable products or services to
improve the quality of living.
Entrepreneurial competencies refer to the important characteristics
that should be possessed by an individual in order to perform
entrepreneurial functions effectively. In this module, you will learn
some of the most important characteristics, attributes, lifestyle, skills
and traits of a successful entrepreneur in order to be successful in a
chosen career.
IMPORTANT
CHARACTERISTICS / TRAITS /
ATTRIBUTES OF A GOOD
ENTREPRENEUR
HARDWORKIN
01
G
One of the important characteristics of a good
entrepreneur is hardworking. This means habitually
working diligently for a long period of time.
Hardworking people keep on improving their
performance to produce good products and/or provide
good services.
02 SELF - CONFIDENCE
Entrepreneurs have confidence in one‘s ability and own
judgment. They exhibit self-confidence in order to cope
with all the risks of operating their own business.
03 DISCIPLINE
Successful entrepreneurs always stick on the plan
and fight the temptation to do what is unimportant.
04 COMMITTED
A good entrepreneur accepts full responsibility of
everything in his/her business. He/she gives full
commitment and solid dedication to make the
business successful.
ABILITY TO ACCEPT
05
CHANGE
Nothing is permanent but change.
Change occurs frequently. When you own a business, you
should cope-up and thrive on changes. Capitalize on
positive change to make your business grow.
06 CREATIVE
An entrepreneur should be creative and innovative to
stay in the business and in order to have an
edge over the other competitors.
07 HAS THE INITIATIVE
An entrepreneur takes the initiative. You must put
yourself in a position where you are
responsible for the failure or success of your
business.
08 PROFIT ORIENTED
An entrepreneur enters into the world of business
to generate profit or additional income. This shall
become the bread and butter for you and for your
family as well. Therefore, you must see to it that
the business can generate income.
09 PLANNER
Planning is strategic thinking and setting of goals
to achieve objectives by carefully maximizing all
the available resources. A good entrepreneur
develops and applies step-by-step plans to realize
goals. A good entrepreneur knows that planning is
an effective skill only when combined with action.
10 PEOPLE SKILLS
It‘s a very important skill in order to be successful
in any kind of business. People skills refer to
effective and efficient communication and relation
to people working in and out of your business. In
day-to-day business transactions, you need to deal
with people. A well-developed people skill can spell
out the difference between success and failure of
the business.
11 DECISION MAKING
Successful entrepreneurs have the ability to think
quickly, and to make a wise decision towards pre-
determined set objectives. No one can deny that the
ability to make wise decisions is
an important skill that an entrepreneur should
possess. Sound decision should spring out from given
facts and information and should be
towards the pre-determined objectives.
TASK 5
Interview
Interview a successful chef or
entrepreneur in your area whose type of
business is related with Cookery. Focus
your interview on PECs and other
business-related attributes that helped
them become successful. Analyze the
result of the interview and reflect on the
similarities and/or differences. Write your
answer on a separate sheet of paper.
SAMPLE INTERVIEW GUIDE
Name of Proprietor/Practitioner:
Age:
Number of Years in Business:
Business Name:
Business Address:
1. What are your preparations before you engaged in this type of business or job?
2. What are your special skills and characteristics that are related with your business or job?
3. How did you solve business-related problems during the early years of your business operation?
4. Did you follow the tips from a successful businessman or practitioner before you engage in your
business?
5. What are your best business practices that you can share with aspiring students?
6. What are the salient characteristics, attributes, lifestyle, skills and traits that made you successful in
your business or job?
