Lesson 2

Characteristics of an Entrepreneur

Entrepreneur
- Is a person who sees potential in product or service and takes risk selling it.
Creativity
- Because business usually involves competition, an entrepreneur must think of new ways on presenting and selling his product.
Self-Control
- An entrepreneur has discipline.
Self-Confidence
- A person succeeds in business because he believes in his products and his abilities.
Decision-Making Skills
- An entrepreneur knowledge and experience regarding the business helps him make the right decision at the right time.
Desire for Responsibility
– An entrepreneur does not only choose things that are easy to get but also aims high.
High Energy Level
- Because of enthusiasm about the business
Courage
- Success entails risks and challenges.
Well-defined Values
- An entrepreneur lives and works on a set of values that help strengthen his character.
Desire for Immediate Feedback
- An entrepreneur listens attentively to what the consumers say about his product or service.
Strong Desire to Achieve
- An entrepreneur sets immediate goals to help him attain his main goal.
Personality traits associated with successful entrepreneurs
1. Persistent - willing to work until a job is done, no matter how long it takes
2. Creative - they look for new ways to solve problems
3. Responsible - they take responsibility for their decisions and actions
4. Inquisitive - they want to know as much as possible about whatever affects their venture
5. Goal-oriented - they set and achieve goals
6. Independent - they - want to make their own decisions
7. Self-demanding - they have high expectations from themselves
8. Self-confident - they believe in themselves
9. Risk-taking - they take risks, but they are not reckless
10. Restless - once they achieve their goals, they begin looking for new challenges
11. Action-oriented - they are doers as opposed to spectators. They set goals, make decisions, and act on their decisions
12. Enthusiastic - they are energetic and passionate about their pursuits
Skills that an Entrepreneur Should Possess to Succeed
 Ability to Plan - entrepreneurs must be able to develop plans to achieve his goals in a variety of areas including finance,
marketing, production and sales
 Communication Skills - An entrepreneur should be able to express himself both verbally and in writing, he must be able to
discuss, sell and market the goods and services
 Marketing Skills - an entrepreneur must have the skills to sell his products and understand his target market
 Interpersonal Skills - since an entrepreneur constantly interacts with people including customers/clients, employees,
investor and others, his ability to maintain positive relationship with people is important to achieve his goals
 Basic Management Skills - an entrepreneur must manage the available resources of the business
 Mathematical Skills - a business involves a lot of computation that includes sales transaction, discounts, computation of
capital, profits and a lot more
 Leadership Skills - an entrepreneur must have the ability to develop a vision for his business and inspire others to pursue
that vision

Lesson 3
PECs and Entrepreneurship
Person al Entrepreneurial Competencies or PECs.
- are the characteristics that entrepreneurs must have to be able to handle difficulties and challenges in business, and can be classified
through different clusters.
1. Vigilance for Opportunities
 When an entrepreneur sees an opportunity for business, he is eager to have it
2. Commitment to Work Contract
 An entrepreneur always delivers his promises promptly.
3. Persistence
 An entrepreneur doesn't let setbacks lead to failure.
4. Willingness to Take Risks
 An entrepreneur knows that a business involves taking risks, and risk-taking leads.
5. Demand for Efficiency and Quality
 A true entrepreneur doesn't settle for anything but the best.
6. Goal Setting
 Setting goals gives the entrepreneur a sense of purpose.
7. Information Seeking
 An entrepreneur always searches for new in- formation related to his business.
8. Systematic Planning and Monitoring
 The success of an entrepreneur relics greatly on his ability to make detailed plans before starting out on a new venture.
9. Persuasion and Networking
 An entrepreneur with a good product or service to offer is able to promote it convincingly.
10. Self Confidence
 An entrepreneur shows confidence in his business.
Cluster of PEC’s
Achievement Cluster
 These characteristics are mostly driven by the aspiration to achieve an entrepreneur's goal by any means with all efforts
possible.

 Opportunity-Seeking
 An entrepreneur is always on the look-out for chances to im prove his business
 Persistence
 Even he fails in a certain aspect of business due to wrong decision or option taken, an entrepreneur does not give up easily.
 Commitment
 The moment an entrepreneur engages in business, he is already accepting the responsibilities that go with it.
 Risk-taking
 An entrepreneur realizes and calculates the risk that goes with every business activity
 Demand for quality and efficiency
 An entrepreneur acts to do things that meet or even exceed existing standards of excellence.
Planning Cluster
 Planning includes characteristics that focus mainly on establishing objectives and plan of actions towards that attainment of
the end goals

 Goal setting
 The entrepreneur must establish specific, measurable, attainable, reliable and time bound (SMART) short term objectives, as
well as long term goals.
 Information seeking
 The entrepreneur personally seeks important data on clients and competitors.
 Systematic planning and monitoring
 The entrepreneur develops and applies logical step-by-step planning

Power Cluster
 Power is defined as the possession of control, authority or influence over others.

 Persuasion and networking

Unit 3 Lesson 1
Needs, Wants, Demands
Needs
 is something that is necessary for survival
Wants
 is simply anything that a person desires to have whether necessary or not.
Demands
 which refers to the level of desire or need for a particular good or service.
Lesson 2
Environment Scanning and Community Industry Analysis
Environmental scanning
 is a process of carefully monitoring the environment before setting up a business.
Environmental scanning
is done by gathering information regarding customers, competitors, and suppliers
Community Industry Analysis
 is a method of determining the complexity of a particular industry or business.
SWOT Analysis
 It is a strategic planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in an
enterprise

Strengths
 Characteristics of the business that give advantage end edge over the others in the same industry.
Weaknesses
 Characteristics that post disadvantages on the part of the firm as compared to others.
Opportunities
 These are external chances that can yield greater profits and sales for the business.
Threats
 These are external factors that can subject the business to conflicts and possible trouble.
Unit 3 Lesson 1.2
Tools and Equipment in Cooking
Commercial cooking
 requires the right tools and equipment.
Basic tools
 are needed in the kitchen in order to perform essential kitchen tasks such as cutting, heating, and proper measuring.
Knives
 not only cut ingredients into smaller portions, but also clean and prepare ingredients by removing undesirable features.
basic chef's knife
 consists of a roughly triangular blade, usually 8 inches or more in length,
Bread knife
 has a thick blade that is used in cutting loaves of bread
carving and slicing knife
 is used for meat slicing.
boning knife
 is an ideal knife for removing meat bones and cutting fish or poultry

Santoku knife
 is a Japanese version of chef's knife.
Cleaver knife
 is a wide-bladed, thick- spined knife that is used in cutting meat and poultry bones.
Chinese cleaver
 like cleaver knife is a wide-bladed knife