Answer:
1. In my opinion I will conduct 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.
2. Business leaders accept risk as a cost of opportunity and innovation. They know it cannot happen if you will not accept the risk that your undertaking might fail. The level of risk may be lessened, however, if you make all possible calculations and evaluate which options are best before proceeding to the next step
3. In the Philippines, entrepreneurship is viewed as important to empowering the poor, enhancing production, and as an impetus to innovation. The 1987 Philippine Constitution recognizes entrepreneurship as an engine of economic growth. Article XII Section 1 highlights the role of private enterprises in supporting equitable distribution of income and wealth, sustaining production of goods and services and expanding productivity, therefore raising the quality of life.
The Philippine Development Plan (PDP) further reinforces the thrust on entrepreneurship through trade and investment to achieve the government’s goal of economic development and job creation. Based on the plan, measures for macro-economic stability, employment, trade and investment, agribusiness, power-sector reforms, infrastructure, competition, science and technology, and anti-corruption are being pursued to strengthen Philippines’s competitiveness and contribute to job creation.
4. In order to think like an entrepreneur, you need to have or develop the characteristics of an entrepreneur. Read on to find out about entrepreneurial skills that will help you in the workplace.
Motivation- Entrepreneurs are by nature motivated. After all, they put in long hours to get their ventures off of the ground and invest large sums — sometimes everything they have — to pursue their dreams. They do all of this knowing that it could take months or even years for them to possibly reap the fruit of their labor.
Passion- Passion is another characteristic of entrepreneurs. While a good payday at the end of the tunnel is good for motivation, entrepreneurs tend to be more driven by a passion for their offering as well as by a desire to make a difference. This passion or drive also helps to sustain entrepreneurs during periods where discouragement might otherwise manifest itself.
Vision- The best entrepreneurs have a vision as to what they want to achieve, how they can accomplish their objectives, and whom they need on their side to reach their goals. Their vision acts like a compass that points them in the direction of opportunities that perhaps no one else has found. They also have the ability to translate their vision in a way that staff and investors can understand.
Confidence- Without confidence or self-belief, entrepreneurs cannot possibly succeed. They have to be confident both in themselves and in the products or services they sell. If they believe in themselves, they will have the ability to stay the course regardless difficulties or discouragement. get. They also have the stomach to take risks — after all, they believe that they will succeed.
Decision Making- Being able to make decisions quickly is an important characteristic for entrepreneurs because it can be the difference between success and failure. Entrepreneurs not only need to have good decision-making skills, but also must have the capacity to make those decisions quickly in order to avoid missing opportunities. This necessitates quickly considering the facts and then deciding.
