Wednesday, November 23, 2011
Wednesday, October 5, 2011
Saturday, July 23, 2011
Tuesday, July 19, 2011
Sunday, July 3, 2011
3 entrepreneurs
Lucio Tan. Lucio Tan worked as a janitor in a cigarette factory. After a few promotions, he eventually resigned and started his own tobacco company. His tobacco company grew to capture a 60% share of the Philippine market. With its strong revenues, Tan was able to diversify. This famous Filipino businessman now owns several prominent Philippine companies, many of which are blue-chippers. Among the top businessmen, Tan is arguably the most enigmatic. Among his contemporaries, he is probably accessible and prefers to stay out of the limelight.
John Gokongwei. Another self-made man is John Gokongwei who lost his father at the age of thirteen. He had to work hard to help support his family by selling simple products like candles, soap and thread in a small local market and was able to expand to sell more lucrative products. He did this for many years until he ventured into the profitable instant coffee business. Nescafe of Nestle was the only instant coffee readily brand readily available so he focused on developing his own brand of instant coffee – Blend 45. His company did incredibly well and generated enough profits to develop other brands. Almost all of the famous Filipino food and beverage brands Gokongwei created are now market leaders in their respective categories. He eventually made his way in the local retail industry by building and running his own chain of successful shopping malls.
George Ty. Yet another in a distinguished line of famous Filipino entrepreneurs is George Ty. Among the famous Filipino businessmen, he had perhaps the most comfortable childhood, since his family owned a large flour mill. At the age of 29, he founded Metropolitan Bank & Trust Company with several partners. Today, this famous Filipino owned bank is one of the biggest financial institutions in the Philippines.
Wednesday, June 15, 2011
homework #4 PEC's
1. Evaluate the different entrepreneurial characteristics under PEC's. How does applying similar characteristics help us succeed in the other areas of life? Explain your answers by giving examples.
Characteristics/qualities of a successful entrepreneur
Qualities or Personal Entrepreneurial Characteristics (PEC) of successful entrepreneurs refer to the desired traits, which enable an entrepreneur to do what is expected of him/her and succeed in business. It is the combination of these characteristics that is required to enable any one to perform effectively as an entrepreneur. It is possible for people to develop these characteristics and succeed in their careers as entrepreneurs. Successful entrepreneurs have common characteristics, which are divided into three clusters namely achievement, planning and power.
This refers to the quality that enables the entrepreneur to see and act upon new business opportunities even in situations where other people see nothing but problems/hopelessness only. It also encourages him/her to seize unusual opportunities for obtaining the necessary resources such as financing, equipment, land, workspace, technical assistance, etc, which will enable him/her to implement his/her business ideas.
This is the ability to accept final responsibility for completing a job for the customers. Customers expect entrepreneurs to perform and honour their commitments. It follows therefore that the entrepreneur should do everything possible to ensure that he/she fulfils the commitment with his/her customers. It means joining the workers to work with them to ensure that contractual commitments are fulfilled, the entrepreneur will do it.
This is the quality, which enables the entrepreneurs to develop determination to have a thorough job done at any cost in terms of personal sacrifice. By doing this, the entrepreneur remains working towards the achievement of his/her set goals.
Entrepreneurs are people who prefer taking moderate risks. Before they commit themselves and their resources, they assess the risks that are associated with a business opportunity that they have selected, and their ability to manage them, the benefits that they will realise and the challenges that they will face from the venture to be undertaken.
Entrepreneurs can earn profits as a result of taking risks and the higher the risks, the higher the profits. However, entrepreneurs will always prefer to take on those risks that they can manage.
This is the quality that enables an entrepreneur to do things that meet or surpass existing standards of excellence or improve on performance by striving to do things faster, better and cheaply. By doing this, the entrepreneur remains ahead of others, makes more profits and retains a growing market share.
The planning cluster is made up of the following characteristics:
This refers to the ability of an entrepreneur to set clear and specific goals and objectives. These goals and objectives are normally high and challenging but at the same time, realistic and can be attained, given the resources that one has got at his/her disposal.
This is having the urge to look for the required information in order to make an informed decision, for example, selecting, starting and successfully managing the desired business. This calls for the concerned person to personally seek and obtain information regarding customers, suppliers, competitors as well as any other relevant information that is required to enable the entrepreneur make decisions and improve knowledge on his/her business.
This is the ability to develop plans that will be used in monitoring and evaluating the progress of the business. This helps the entrepreneur to carefully monitor his/her business’ actual performance against desired performance and turn to other alternatives whenever the need arises; so as to achieve his/her set goals.
This is the ability to link, convince and influence other individuals, agencies and other groups in order to maintain business contacts at a high level. This will help or work for the cause of the business in a positive manner to accomplish own objectives.
This refers to having a strong belief or confidence in oneself and the ability to complete a difficult task or meet a challenge.
2.Explain how having the Personal Entrepreneurial Competencies can help you become a successful entrepreneur.
Having the characteristics/qualities of Personal Enterpreneurial Competencies can make enterpreneurs accomplish things or goals easier or faster and they can also perform tasks excellently making them succesfuls enterpreneurs.
Characteristics/qualities of a successful entrepreneur
Qualities or Personal Entrepreneurial Characteristics (PEC) of successful entrepreneurs refer to the desired traits, which enable an entrepreneur to do what is expected of him/her and succeed in business. It is the combination of these characteristics that is required to enable any one to perform effectively as an entrepreneur. It is possible for people to develop these characteristics and succeed in their careers as entrepreneurs. Successful entrepreneurs have common characteristics, which are divided into three clusters namely achievement, planning and power.
1. Achievement Cluster
Opportunity seeking
This refers to the quality that enables the entrepreneur to see and act upon new business opportunities even in situations where other people see nothing but problems/hopelessness only. It also encourages him/her to seize unusual opportunities for obtaining the necessary resources such as financing, equipment, land, workspace, technical assistance, etc, which will enable him/her to implement his/her business ideas.
Commitment to the work contract
This is the ability to accept final responsibility for completing a job for the customers. Customers expect entrepreneurs to perform and honour their commitments. It follows therefore that the entrepreneur should do everything possible to ensure that he/she fulfils the commitment with his/her customers. It means joining the workers to work with them to ensure that contractual commitments are fulfilled, the entrepreneur will do it.
Persistence
This is the quality, which enables the entrepreneurs to develop determination to have a thorough job done at any cost in terms of personal sacrifice. By doing this, the entrepreneur remains working towards the achievement of his/her set goals.
Risk taking
Entrepreneurs are people who prefer taking moderate risks. Before they commit themselves and their resources, they assess the risks that are associated with a business opportunity that they have selected, and their ability to manage them, the benefits that they will realise and the challenges that they will face from the venture to be undertaken.
Entrepreneurs can earn profits as a result of taking risks and the higher the risks, the higher the profits. However, entrepreneurs will always prefer to take on those risks that they can manage.
Demand for efficiency and quality
This is the quality that enables an entrepreneur to do things that meet or surpass existing standards of excellence or improve on performance by striving to do things faster, better and cheaply. By doing this, the entrepreneur remains ahead of others, makes more profits and retains a growing market share.
2. Planning Cluster
The planning cluster is made up of the following characteristics:
Goal setting
This refers to the ability of an entrepreneur to set clear and specific goals and objectives. These goals and objectives are normally high and challenging but at the same time, realistic and can be attained, given the resources that one has got at his/her disposal.
Information seeking
This is having the urge to look for the required information in order to make an informed decision, for example, selecting, starting and successfully managing the desired business. This calls for the concerned person to personally seek and obtain information regarding customers, suppliers, competitors as well as any other relevant information that is required to enable the entrepreneur make decisions and improve knowledge on his/her business.
Systematic planning and monitoring
This is the ability to develop plans that will be used in monitoring and evaluating the progress of the business. This helps the entrepreneur to carefully monitor his/her business’ actual performance against desired performance and turn to other alternatives whenever the need arises; so as to achieve his/her set goals.
3. Power Cluster
Persuasion and networking
This is the ability to link, convince and influence other individuals, agencies and other groups in order to maintain business contacts at a high level. This will help or work for the cause of the business in a positive manner to accomplish own objectives.
Self-confidence
This refers to having a strong belief or confidence in oneself and the ability to complete a difficult task or meet a challenge.
2.Explain how having the Personal Entrepreneurial Competencies can help you become a successful entrepreneur.
Having the characteristics/qualities of Personal Enterpreneurial Competencies can make enterpreneurs accomplish things or goals easier or faster and they can also perform tasks excellently making them succesfuls enterpreneurs.
Monday, June 13, 2011
invention due to neccesity
The breakthrough in pencil technology came when French chemist Nicolas Conte developed and patented the process used to make pencils in 1795. He used a mixture of clay and graphite that was fired before it was put in a wooden case. The pencils he made were cylindrical with a slot. The square lead was glued into the slot and a thin strip of wood was used to fill the rest of the slot. Pencils got their name from the old English word meaning 'brush'. Conte's method of kiln firing powdered graphite and clay allowed pencils to be made to any hardness or softness - very important to artists and draftsmen.
Source:http://inventors.about.com/library/inventors/blpen.htm
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