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Achievement Cluster

The document discusses three clusters of personal entrepreneurial competencies (PECs) that are important for successful entrepreneurs. The achievement cluster focuses on meeting customer needs, acting on opportunities quickly, managing risks, and being efficient. The planning cluster involves seeking information from various sources, setting specific and customer-satisfying goals and objectives. The document emphasizes that possessing these PECs allows entrepreneurs to address business challenges and make competitive products and services.

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56 views1 page

Achievement Cluster

The document discusses three clusters of personal entrepreneurial competencies (PECs) that are important for successful entrepreneurs. The achievement cluster focuses on meeting customer needs, acting on opportunities quickly, managing risks, and being efficient. The planning cluster involves seeking information from various sources, setting specific and customer-satisfying goals and objectives. The document emphasizes that possessing these PECs allows entrepreneurs to address business challenges and make competitive products and services.

Uploaded by

laurenceclydeadarle
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Achievement Cluster

• Pay attention to the needs and demands of people


• Never procrastinate. Act immediately on marketable
Opportunity ideas
Seeking and • The common business are well competed in the market
Initiative while unique ones offer lower competition resulting to higher
revenues and profit
• Calculate risks by identifying the most beneficial
alternative courses of action to minimize effect of risks in the
Risk Taking net profit
• Be proactive. Anticipate a loss and counter it with
feasible alternatives
• In business realities, seasoned entrepreneurs
sometimes take riskier business to get higher profits
Demand for • Perform business tasks better, faster, cheaper, but do
Efficiency and not put safety and quality aside
Quality • Accomplish tasks by meeting or exceeding standards of
excellence
• Face a significant obstacle with a good plan of action
• Identifies a good alternative to every decision to meet
challenge or overcome an obstacle
Persistence  Act as the prime mover of resources in the achievement of
goals and objectives
• Offer personal sacrifices or give extraordinary efforts in
Commitment completing tasks
to the Work • Accomplish targets on time, as agreed, to keep
Contract customers satisfied
Planning Cluster
• Gather data and information or feedbacks from clients,
suppliers, and competitors and use those for the improvement
Information of products or services
Seeking • Study the market personally for innovation of new
product development
• Talk with experts for technical advice
• Sets goals and objectives which are specific and must
guarentee customer satisfaction
Goal setting • Set calculated goals and objectives
THE PERSONAL ENTREPRENEURIAL COMPETENCIES (PECS) OF
SUCCESSFUL ENTREPRENEURS

There are two major reasons why many people failed in their attempt to do
entrepreneurial activities. First, people who are starting entrepreneurial activities may
only have insufficient experiences to address the problems posed by the numerous
external business constraints. Second, they lack sufficient skills to lead the people
and make the products and services competitive in the market. Low profit of the
business will create consequent problem and many more problems in the future.
Thus, anyone who wants to succeed in a business arena must be equipped with the
different Personal Entrepreneurial Competencies or PEC’s, a set of skills that
entrepreneurs must possess to take control of the challenges in business. PEC’s are
the key abilities of entrepreneurs’ success in business.

PEC’s are clustered into three clusters according to its area of application:

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