4. Persistence
- a persistence individual takes
repeated or different actions to
overcome obstacles to his/her goals
- stick to his judgment in the face
of opposition or early lack of success
- makes personal sacrifices
5. Commitment to the Work
Contract
- should accept full responsibility
- pitch in for others to finish the
job
- express concern towards the
customer
6. Demand for quality and efficiency
- do things that meet existing
standards of excellence
- strive to do things better, faster
and cheaper
7. Risk Taking
- take moderate risks
- state a preference for situations
that involve moderate risks
8. Risk Taking
- take moderate risks
- state a preference for situations
that involve moderate risks
2. PLANNING CLUSTER
Goal setting
- should always have clear and
specific objective –- a long-term and
short term objective --
9. - they are guided by the word SMART
(specific, measurable, attainable, realistic
and time-bound)
Information Seeking
- entrepreneurs do not stop seeking
information for their businesses for
improvement of the company
- information-seeking on clients,
supplies, and competitors
10. Systematic Planning & Monitoring
- developing & using logical, step by
step plans, evaluate, monitor progress
& switch to alternative strategies
WAYS THAT ARE USED BY THE ENTREPRENEURS TO
EXERCISE SYSTEMATIC PLANNING & MONITORING
learn from mistakes
constantly review performance
Concentrate on present situations
11. go back & review goals
If still unproductive, accept
changes, but find other means to
achieve goals
Tries to change environment if the
environment is the cause of the
low standard performance
12. 3. POWER CLUSTER
Self-confidence
- possess a strong believe in their
abilities
- express confidence in their own
ability
- they believe their business to be
successful and profitable
Persuasion & Networking
- should use deliberate strategies to
influence others
-use their business & personal contact to
accomplish their objectives
13. 1. Financial problems
- lifeblood of business is money
- it is a must to have your own money
before staring a business
14. 2. Managerial problems
- lack of management skills of the
entrepreneur
- should think well before giving
instructions to avoid poor
management
15. 3. Marketing problems
- some of these are problems with
competitors, taxes & advertising costs
16. 4. Over-regulation & taxes
- amount of income for reinvestment is
reduced by corporate income taxes
17. 5. Problems relating to facilities
- production & sales are solved by
problems of power supply,
transportation & communication
18. Human mind
- considered as the most
outstanding machine because it
creates & innovates
19. Innovation
- introducing a new idea or method in
an already existing product or concept as a
way of enhancing & improving it
Creativity
- ability to develop an original idea
21. is not satisfied with the usual way of
doing things
questions & innovates business
practices
22. CLASSICAL MANAGEMENT THEORIES
A. Classical Scientific
- innovated by Frederick Winslow Taylor
- it is concerned on how to increase
production efficiency to lower costs, raise
profits & increase workers’ pay --- through
increased production
23. - Gantt Chart was invented by
Henry L. Gantt
- used for programming
production & gave importance to
the role of workers
24. B. Classical Administration
- proponent of this theory is Henry Layol
- emphasis is more on management
principles than on work methods
25. BEHAVIORAL MANAGEMENT THEORY
- Robert Owens states that quality & quantity
of work are affected by conditions workers
- workers’ morale improved resulting in
improved production & reduction of
operational cost after many years
26. CONTINGENCY MANAGEMENT THEORY
- solves by analyzing, listing circumstances
prevailing at the time
- identifying available causes of action
-identifying the consequences of each cause of
action
- choosing the bets solution
27. QUANTITATIVE MANAGEMENT THEORY
- recommends the use of mathematical
approaches to management problems
28. SYSTEM MANAGEMENT THEORY
- emphasizes system as a group of
interrelated parts operating as a whole
to achieve desired goals and to function
according to design.
29. CHAOS THEORY
-Change is constant. Although certain events and
circumstances in an organization can be controlled,
others can't. Chaos theory recognizes that change
is inevitable and is rarely controlled. While
organizations grow, complexity and the possibility
for susceptible events increase. Organizations
increase energy to maintain the new level of
complexity, and as organizations spend more
energy, more structure is needed for stability. The
system continues to evolve and change.
30. THEORY X AND THEORY Y
-The management theory an individual chooses to
utilize is strongly influenced by beliefs about
worker attitudes. Managers who believe workers
naturally lack ambition and need incentives to
increase productivity lean toward the Theory X
management style. Theory Y believes that workers
are naturally driven and take responsibility. While
managers who believe in Theory X values often use
an authoritarian style of leadership, Theory Y
leaders encourage participation from workers.
