Assignment #6

Henry Ford                                                                        Colonel Harland Sanders
                                              

Ken Kutaragi





                                               

Assignment #5

1.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 namelyachievement, 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.The concept of competency is also related to performance, but the focus is mainly at 
the individual level. Entrepreneurial competencies are obviously related to managerial
competencies (Boyatzis, 1982).   This approach is a response to the need for possession of 
characteristics more than simply skills and abilities in facing the increasing competition. In 
other words, there is a need for combining certain values and attitudes with these skills and 
abilities towards competence which could be learned from the formal education that an 
entrepreneur is to undergo.  
Moreover, in terms of casual relationship, behaviors are closer to performance than 
other entrepreneurial characteristics like personality traits, intentions or motivations (Herron 
and Robinson, 1993; Gartner and Starr, 1993).  Competencies are seen as behavioral and 
observable characteristics of an entrepreneur. Consequently, competencies are changeable 
and learnable, allowing multi-method empirical studies including quantitative approaches to 
measurement (Bird, 1989). This approach also expands our horizons for intervention in 
terms of selection and teaching of entrepreneurship. Further, it is variable across levels of 
analyses and disciplines of business management, allowing complex, multi-level, and multidisciplinary research to advance. These natures allow entrepreneurial competencies to 
serve as a bridge between individual-level characteristics and firm-level performance. 
Given the advantages of a business program that offer a major in entrepreneurship, 
the government encourages colleges and universities to formulate entrepreneurship
program, citing the possibilities of maximizing the potential of entrepreneurial education. 
With this, certain schools have designed degree programs for students with a strong
entrepreneurial inclination and who possess excellent leadership skills.

Assignment #4

If i was an entrepreneur, I would be in the computer shop business because It's risks are lower than taking other business that is hard to have money or to gain profit. And being a computer shop owner is easy to do and it is the hobby of people to use computer because it is needed in many ways.

Assignment #3

Personal Entrepreneurial  Competencies 
  The original research by McClelland and McBer identified 14 PECs; the EMPRETEC [a UN program for small businesses; from the Spanish words emprendedores (entrepreneurs) and tecnología (technology)] clustered these into just 10:

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                                                                                                                                 

Assignment #2

Ambulance                                                 Importance of Ambulance and Why it Is Invented because of Necessity: Ambulance is Invented because of the need to transport the peoples who needs to be treated or people who need first-aid because of accidents.

                                                                                                   History:During the Crusades of the 11th Century, the Knights of St John received instruction in first-aid treatment from Arab and Greek doctors. The Knights of St John then acted as the first emergency workers, treating soldiers on both sides of the war of the battlefield and bringing in the wounded to nearby tents for further treatment. The concept of ambulance service started in Europe with the Knights of St John, at the same time it had also become common practice for small rewards to be paid to soldiers who carried the wounded bodies of other soldiers in for medical treatment.

The Surgeon-in-Chief of the French Grand Army, "Baron Dominiquie Larrey" created the first official army medical corp. in 1792. Trained attendants with equipment moved out from the field hospitals to give first-aid to the wounded on the battlefield and/or carried them back by stretcher, hand-carts and wagons to the field hospitals.

Motorized ambulance vehicles have been in use since the beginning of the 20th century. In the 1950s the United States pioneered helicopter-ambulances during the Korean War. In 1968, St Vincent's Hospital in New York City started the first mobile coronary care unit.