CHAPTER 2: LESSON 1
Character Traits Common to
Successful Entrepreneurs
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Character Traits and Skills of Successful Entrepreneurs, Slides of Entrepreneurship
An in-depth analysis of the key character traits and skills that are commonly associated with successful entrepreneurs. It delves into the three major clusters of entrepreneurial characteristics - achievement, planning, and power - and discusses how these traits contribute to entrepreneurial success. The document also explores the various types of entrepreneurial skills, including cognitive, technical, and interpersonal skills, and how they are essential for entrepreneurs to develop and hone. Additionally, the concept of core competencies in entrepreneurship is introduced, highlighting the combination of entrepreneurial concepts, traits, and skills that can provide a competitive advantage for entrepreneurs. This comprehensive overview offers valuable insights for aspiring entrepreneurs, students, and professionals interested in understanding the essential qualities and capabilities required for entrepreneurial success.
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2022/2023
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CHAPTER 2: LESSON 1
Character Traits Common to
Successful Entrepreneurs
Learning Outcomes:
1. Discuss the significance of knowing oneself as part of being a successful **entrepreneur and
- Identify some character traits that are common among successful entrepreneurs.**
Entrepreneurial Character Traits Based on studies conducted by Small Enterprise Research and Development Foundation (SERDF) of the Department of Trade and Industry (DTI), there are ten entrepreneurial characteristics grouped into three major cluster:
- Achievement cluster
- Planning cluster
- Power cluster
Achievement Cluster ◦ (^) Achievement cluster - it consist of entrepreneurial character traits that are directly related to the entrepreneur’s desire to be an achiever in the field of entrepreneurship. The entrepreneur who belongs to the achievement cluster is:
- An opportunity-seeker,
- Committed,
- Persistent,
- Risk-taker, and
- Efficient and quality oriented
Achievement Cluster
Persistent Risk-taker
Three types of risk-takers:
- Aggressive risk-taker
- Moderate risk-taker
- Conservative risk-taker
Achievement Cluster
Efficient and quality
oriented
Power Cluster
◦ The power cluster includes a set of character traits that reflect the degree of the
interpersonal relations maintained by successful entrepreneurs in the community. An entrepreneur in the power cluster is
- A persuasive and positive networker, and
- Self - confident
Learning Outcomes:
1. Identify the entrepreneurial skills and
2. Discuss the concept of core competencies in the practice of
entrepreneurship
Entrepreneurial Skills ◦ (^) SKILLS – the personal abilities to do things well, they come from the totality of knowledge, practice or experience, and aptitude of a person. What kind of skills should be acquired and developed in a deliberate and systematic fashion by a person who has an intense desire of becoming a successful entrepreneur? ENTREPRENEURIAL SKILLS ◦ Cognitive Skills ◦ (^) Technical Skills ◦ (^) Interpersonal Skills
COGNITIV E SKILLS It refers to the mental ability of the entrepreneur to learn new things, generate new ideas, and express knowledge in both oral and written forms. Core skills your brain uses to think, read, learn, remember, reason, and pay attention.
PROBLEM-SOLVING SKILL
TECHNICAL SKILLS
TECHNICAL
SKILLS
Technical skills are sets of abilities or knowledge used to perform practical tasks in the areas of mechanics, science, mathematics and information technology.