The Personal Entrepreneurial Competencies

PECs stands – for “Personal Entrepreneurial Competencies”.There are ten competencies, namely:

Achievement Cluster

I. Opportunity Seeking and Initiative

  • Does things before asked or forced to by events
  • Acts to extend the business into new areas, products or services
  • Seizes unusual opportunities to start a new business, obtain financing,
    equipment, land work space or assistance

II. Risk Taking

  • Deliberately calculates risks and evaluates alternatives
  • Takes action to reduce risks or control outcomes
  • Places self in situations involving a challenge or moderate risk

III. Demand for Efficiency and Quality

  • Finds ways to do things better, faster, or cheaper
  • Acts to do things that meet or exceed standards of excellence
  • Develops or uses procedures to ensure work is completed on time or that work
    meets agreed upon standards of quality

IV. Persistence

  • Takes action in the face of a significant obstacle
  • Takes repeated actions or switches to an alternative strategy to meet a
    challenge or overcome an obstacle
  • Takes personal responsibility for the performance necessary to achieve goals
    and objectives

V. Commitment to the Work Contract

  • Makes a personal sacrifice or expends extraordinary effort to complete a job
  • Pitches in with workers or in their place to get a job done
  • Strives to keep customers satisfied and places long term good will over short
    term gain planning cluster

VI. Information Seeking

  • Personally seeks information from clients, suppliers or competitors
  • Does personal research on how to provide a product or service
  • Consults experts for business or technical advice

VII. Goal setting

  • Sets goals and objectives that are personally meaningful and challenging
  • Articulates clear and specific long range goals
  • Sets measurable short term

VIII. Systematic Planning and Monitoring

  • Plans by breaking large tasks down into time-constrained sub-tasks
  • Revises plans in light of feedback on performance or changing circumstances
  • Keeps financial records and uses them to make business decisions

Power Cluster

IX. Persuasion and Networking

  • Uses deliberate strategies to influence or persuade others
  • Uses key people as agents to accomplish own objectives
  • Acts to develop and maintain business contracts

X. Independence and self-confidence

  • Seeks autonomy from the rules or control of others
  • Sticks with own judgement in the face of opposition or early lack of success
  • Expresses confidence in own ability to complete a difficult task or meet a
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