Personal Entrepreneurial Competencies (PECs)

Question 1

Personal Entrepreneurial Competencies

Answer 1

The important characteristics, attributes, lifestyle, skills, and traits of a successful entrepreneur or an employee to be successful in a chosen career.

Question 2

Opportunity-seeking & Initiative

Answer 2

Entrepreneurs seek opportunities and take the initiative to transform them into business situations.

Question 3

Persistence

Answer 3

When most people tend to abandon an activity, successful entrepreneurs stick with it.

Question 4

Commitment

Answer 4

Entrepreneurs keep their promises, no matter how great the personal sacrifice.

Question 5

Demand for Efficiency & Quality

Answer 5

Entrepreneurs try to do something better, faster, or cheaper.

Question 6

Taking Calculated Risks

Answer 6

Taking calculated risks is one of the primary concepts in entrepreneurship.

Question 7

Goal Setting

Answer 7

It is the most important competency because none of the rest will function without it. Entrepreneurs set goals and objectives which are meaningful and challenging

Question 8

Information Seeking

Answer 8

Entrepreneurs gather information about their clients, suppliers, technology, and opportunities.

Question 9

Systematic Planning & Monitoring

Answer 9

Systematic behavior means acting in a logical way. Planning is deciding what to do. Monitoring means checking

Question 10

Persuasion & Networking

Answer 10

Entrepreneurs influence other people to follow them or do something for them.

Question 11

Independence & Self-confidence

Answer 11

Entrepreneurs have a quiet self-assurance in their capability or potential to do something.