Successful Entrpreneurs in the Philippiness

1.Manuel Pangilinan. 

Manuel or “Manny” Pangilinan is the top honcho of the Philippine Long Distance Telephone Company (PLDT). Under Manuel Pangilinan’s watch, PLDT slowly amassed full or majority ownership on a number of key Internet, communications and broadcasting related corporations. This has made the Wharton-educated Pangilinan one of the Philippines’ top telecommunications magnates.  Pangilinan is also engrossed in propelling Philippine basketball back to its old glory days.  This successful entrepreneur currently owns a professional basketball team bearing the name of a mobile phone company he also owns, which competes in a Philippine based league. He has also almost exclusively bankrolled the entire Philippine national basketball team which represents the country in international basketball competitions.

2. Henry Sy. 

Recognized by Forbes as the richest man in the Philippines, Sy’s name is synonymous with the Philippine retail industry. The company he founded and owns is the largest retail and shopping mall operator in the country. His company built and operates three of the ten largest shopping malls in the world. Henry Sy’s business acumen is so sound that professors in college and graduate programs in the Philippines frequently use his business model to teach students and budding entrepreneur the fundamentals of business.

3. Jaime Zobel de Ayala. 

Jaime Zobel de Ayala is the CEO of the well-established Ayala Corporation. The Ayala Corporation is a holding company for the Ayala Group of Companies which owns a diverse group of companies that range from telecommunications and real estate to automotive and financial service. This Harvard alumni is also involved in a number of charities as well as being a patron of the arts.  This successful entrepreneur is also an avid sportsman who regularly enters local marathons.

PEC's assignment, due date: Thursday, June 16, 2011

1) Entrepreneurial competencies

A competence is an underlying characteristic of persons, which results in effective and /or superior performance in a job. A job competence is an underlying characteristics of a person, in that it may be motive ,traits, skills ,aspect of ones self-image a body of knowledge ,set of skills and cluster of appropriate motives/ traits that an individual possess to perform a given task.
The knowledge of entrepreneurial competence has been sharpened over the last 3 decades. The following is a list of major competencies that contribute towards top performance.

a) INITIATIVE: Takes action that goes beyond job requirements or the of the situation.
Does things before being asked or forced to by events.
Acts to extend the business into new areas, products, or service.
b) SEES AND ACTS ON OPPORTINITIES:
Looks for and action on opportunities.
Sees and acts on opportunities (business, educational or personal growth).
Seizes unusual opportunities to obtain financing equipment, land, work space. Or assistance.
c) PERSISTENCE:
Takes repeated action to overcome obstacles that get in the way of reaching goals.
Takes repeated or different action to overcome obstacle.
Takes action in the face of a significant obstacle.
d) INFORMATION SEEKING:
Takes action on own to get information to help reach objectives or clarify problems.
Does personal research on how to provide a product or service.
Consults experts for business or technical advice.
e) CONCERN FOR QUALITY OF WORKS: 
acts to do things that meet or beat existing standards of excellence.
States a desire to produce work of high quality.
Compares own work or own company’s work favorably to that of others.
f) COMMITMENT TO WORK CONTRACT: 
acts to do things that place the highest priority on getting a job completed.
Accepts full responsibility for problems in completing a job for others.
Pitches in with workers or works in their place to get the job done.
Expresses a concern for satisfying the customer.
g) EFFICIENCY ORIENTATION :
finds ways to do things faster or with fewer resources or at a lower cost.
Looks for or finds ways to do things faster or at less cost .
Uses information or business tools to improve efficiency.
Expresses concern about costs vs. .benefits of some improvements, change, or course of action.
h) SYSTEMATIC PLANNING: 
develops and uses logical ,step-by-step plans to reach goals.
Plans by breaking a large task down into sub-tasks.
Develops plans that anticipate obstacles.
Evaluates alternatives.
Takes a logical and systematic approach to activities.
i) PROBLEM SOLVING: 
identifies new and potentially ideas to reach goals.
Switches to an alternative strategy to reach a goal.
Generates new ideas or innovative solutions.
j) SELF-CONFIDENCE:
Has a strong belief in self and own abilities .
Expresses confidence is own ability to complete a task or meet a challenge.
Sticks to own judgment in the face of opposition or rarely lack of success.
Does something that he says is risky.
k) ASSERTIVENESS: 
confronts problems and issues with others directly.
Tells others what they have to do .
Reprimands or disciplines those failing to perform as expected.
l) USE OF INFLUENCE STRATEGIES:
Uses a variety of strategies to influence others.
Acts to develop business contacts.
Uses influential people as agents to accomplish own objectives.
Selectively limits the information given to others.
m) MONITORING:
Develops or uses procedures to ensure that work is completed or that work gets standards or quality.
Personally supervises all aspects of a project.
n) CONCERN FOR EMPLOYEE WELFARE:
Takes action to improve the welfare of employees.
Takes positive action in response to employee’s personal concerns.
Express concern about the welfare of employees.
      
      Applying similar characteristics helps us succeed in the other areas of life. Thats why we have to use personal entrepreneurial competencies to succeed. There are many examples of this just like, the concerns for employees welfare it helps you in becoming a good  person or boss to your fellow employees, information seeking in this competency you will be a good researcher and a wide reader because you will collect data for you're business. There are many more competencies or characteristics that you can have and follow.




2) Personal Entrepreneurial Competencies (PEC's)
  First in being a good entrepreneur you have to gain the qualities of being one. Thats why the personal entrepreneurial competencies are created, it is used to guide a beginner entrepreneur in becoming a successful and a well known entrepreneur. If you don't have these competencies you're business will fail or no longer continue.  

Inventions created by a necessity

Monopoly

1935

With cash scarce, Charles Darrow, an out-of-work engineer, designed a game in which players compete for massive riches and total domination of a city’s real estate. But he probably never imagined his creation, Monopoly, would become the bestselling board game of all time. Darrow’s concept wasn’t entirely original. It may have been borrowed from The Landlord’s Game, patented in 1924 by Elizabeth Magie, which also featured property ownership, rent, and railroad lines. Darrow gave his version a robber- baron patina, named properties after the streets of Atlantic City, and won his own patent in 1935. Darrow first tried to sell Parker Brothers on his idea, but it rejected the game, claiming it had 52 design errors. Undeterred, Darrow sold 5,000 handmade sets in a Philadelphia department store. Parker Brothers promptly changed its mind.

Personal Entrepreneurial Competencies (PECs)

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 objectives

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 challenge

What is an entrepreneur?

Entrepreneur 

   - a person who has possession of a new enterprise, venture or idea and is accountable for the inherent risks and the outcome. The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to launch a new venture or enterprise and accept full responsibility for the outcome. Jean-Baptiste Say, a French economist, is believed to have coined the word "entrepreneur" in the 19th century - he defined an entrepreneur as "one who undertakes an enterprise, especially a contractor, acting as intermediatory between capital and labour".