answer and assignment #5

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.


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.


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.

Assignment and Answer #4

Answer the following.

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.

2. Explain how having the Personal Entrepreneurial Competencies can help you become a successful entrepreneur.

          Characteristics of PEC's can help us succeed in life by having for a example the characteristics of having  self confidence, it can help us succeed because we have confidence that we have done our best in our business.Personal Entrepreneurial Competencies can help us became a successful entrepreneur because it gives us the characteristics that we should have to succeed in our business.

Assignment and Answer #3

Explain what Personal Entrepreneural Competencies (PEC's) are. List down the different PEC's.




Personal Entrepreneural Competencies (PEC's) are the businessperson greatly depends on a certain set of characteristics.


1. Vigilance for Opportunities 
                 When an entrepreneur sees an opportunity for a business, he is quick to take it.Entrepreneurship is a competitive field , and he is always on the lookout for chances yo improve his position.


2.Commitment to Work Contract
                 An entrepreneur always delivers his promise promptly. He values his reputation for dependability and will do everything not to back out on a commitment.


3. Persistence 
                  An entrepreneur doesn't let setbacks lead to failure. He is so committed to his goal that he finds way to overcome obstacles and accomplish his tasks he set for himself.


4.Willingness to take Risks 
                 An entrepreneur knows that business involves taking risks. It is when one take his chances with a new venture that better products and services are discovered.
                
5.Demand for Efficiency and Quality 
                 A true entrepreneur doesn't settle for anything but the best. He also insists that items of excellent quality be done at the soonest time possible. This increases his productivity and sets him apart from the competition.


6.Goal Setting 
                Setting goal gives the entrepreneur a purpose. It inspires him to make definite plans and to follow those plans with concrete actions.


7.Information Seeking 
                An entrepreneur is always searching for new information related to his business. He uses these information to improve his services, satisfy his customers and be ahead of his competitors.


8.Systematic Planning and Monitoring 
                The success of an entrepreneur relies greatly on his ability to make detailed plans before starting out on a new venture. He couples this with careful evaluation to be aware of his progress every step of the way.


9.Persuasion and Networking 
                 An entrepreneur with a good product of services to offer is able to promote it convincingly. In addition, satisfied customers will help him promote the business through word of mouth.


10.Self Confidence
                 An entrepreneur shows confidence in his business because he has done and doing his best to give his clients the best value for their patronage.


Source : Book

Assignment and Answer #2

Post on your blog an invention which was created due to necessity? You may post a video, a picture of the invention and it's story or even an article how the invention came about, don't forget to include your source. I'll check your blogs next friday, June 17,2011.

Baron Karl Drais von Sauerbronn - Early Bicycles

The German Baron Karl Drais von Sauerbronn invented the "Laufmaschine" or "Running Machine", a type of pre-bicycle. The steerable Laufmaschine was made entirely of wood and had no pedals; a rider would push his/her feet against the ground to make the machine go forward. Sauerbronn's bicycle was first exhibited in Paris on April 6, 1818. The celerifere was another similar early bicycle precursor invented in 1790 by Frenchmen, Comte Mede de Sivrac, however, it had no steering.

Penny Farthing
The Penny Farthing is also referred to as the 'High' or 'Ordinary' bicycle, and the first one was invented in 1871 by British engineer, James Starley. The Penny Farthing came after the development of the 'Hobbyhorse', and the French 'Velocipede' or 'Boneshaker', all versions of early bikes. However, the Penny Farthing was the first really efficient bicycle, consisting of a small rear wheel and large front wheel pivoting on a simple tubular frame with tires of rubber.