What are the 3 clusters of PECs and its characteristics?
These PECs include achievement cluster that addresses the opportunity-seeking and initiative, persistence, fulfillment of commitments, demand for quality and efficiency, and calculated risks; planning cluster that focuses on: goal-setting, information-seeking, and systematic planning and monitoring; and the power …
What are the characteristics traits per cluster of PECs?
The entrepreneurial qualities, more known as the Personal Entrepreneurial Competencies (PECs) are as follows: (1) Opportunity Seeking, (2) Persistence, (3) Commitment to Work Contract, (4) Risk-taking, (5) Demand for Efficiency and Quality, (6) Goal Setting, (7) Information Seeking, (8) Systematic Planning and …
What are the 3 entrepreneurial competencies?
Furthermore, there are three levels of competencies, which all entrepreneurs need:
- Personal competencies: creativity, determination, integrity, tenacity, emotional balance and self-criticism.
- Interpersonal competencies: communication, engagement/charisma, delegation, respect.
What are the 3 personal entrepreneurial characteristics?
Researchers at the Harvard Business School have identified three core characteristics to look for in entrepreneurs: their personality traits, attitudes toward risk, and their goals and aspirations.
What are the 10 characteristics of PECs?
They identified 10 personal entrepreneurial competencies: opportunity seeking, persistence, commit- ment to work contract, risk-taking, demand for efficiency and quality, goal seeking, in- formation seeking, systematic planning and monitoring, persuasion and network- ing, self-confidence.
What are the three general clusters of PECs?
In the model of competencies, Arafeh (2016) found three clusters that must be attained by entrepreneurs, namely achievement, planning dan power.
What are the 5 achievement cluster of PECs?
What are the five achievement cluster? These include: opportunity-seeking and initiative; persistence; fulfilment of commitments; demand for quality and efficiency; calculated risks; goal-setting; information-seeking; systematic planning and monitoring; persuasion and networking; and independence and self-confidence.
Why is there a need to assess your PECs?
Answer: Assessing one’s PECs in terms of characteristics, attributes, lifestyles, skills, and traits before starting a particular business is necessary in order to determine whether this individual can actually perform entrepreneurial functions effectively.
What are the 3 important skills of a successful entrepreneur?
While there is no magic formula for beings a successful entrepreneur, those who do succeed tend to have mastered the following set of skills: good and effective communication; being able to sell both themselves and their idea or product; strong focus; eagerness to learn and be flexible; and a solid business plan.
What are the 10 competencies?
These 10 competencies are:
- Opportunity-seeking and initiative. Entrepreneurs seek opportunities and take the initiative to transform them into business situations.
- Persistence. …
- Commitment. …
- Demand for efficiency and quality. …
- Taking calculated risks. …
- Goal setting. …
- Information seeking. …
- Systematic planning and monitoring.
What are the 7 characteristics of entrepreneurs?
7 Characteristics of an Entrepreneur
- They’re passionate. Successful entrepreneurs have a passion for what they do. …
- They’re business savvy. …
- They’re confident. …
- They’re planners. …
- They’re always on. …
- They’re money managers. …
- They never give up.
What are personal entrepreneurial characteristics?
Entrepreneurs tend to have strong communication skills, and this strength, combined with their passion for their product or service, helps them to talk to anyone and everyone about their business. They’re also natural leaders who can motivate, inspire, and influence those around them.
What are the 10 qualities of a good entrepreneur?
10 Characteristics of a Successful Entrepreneur
- Social Skills.
- Open-mindedness towards learning, people, and even failure.