Factors Paper by Ma. Elena Lyn G. Perez

PEREZ, MA. ELENA LYN G.                               

SPENTREP / S10 / MON 6-9 / DELA COSTA

PROF. JORGE SAQUINSIN

FACTORS PAPER

(“What factors I do / don’t possess that make / do not make me a Business Entrepreneur)

The Entrepreneurial Potential Self-Assessment is the online test I tried to answer in my goal of knowing if I also have the same strengths or weaknesses that the other entrepreneurs have. The questionnaire consists of 50 statements, about 10 minutes to finish, and is owned by the BDC Company that conducts research on entrepreneurship area.

Illustration 1.1

There are three aspect measured namely Motivation, Aptitudes, and Atttitude. The motivation refers to the factors that determine behavior, the underlying reasons that induce someone to act. Under this aspect there are four items considered as factors that affect the individuals motivation, the (1) Need for achievement/success, (2) Power/control appeal, (3) Need for challenges/ambition, and  (3) Self-sufficiency/freedom. Based on the guidelines on how to interpret the assessment, on the picture shown, the

red line refers to the average answer of those entrepreneurs that has taken the assessment. Compared to my response, I tend to possess an average level of power or control appeal. Power is defined as the ability or capacity to do something or act in a particular way[1]. The next aspect being presented is the Aptitude – that pertains to natural inclinations, competencies, and abilities. Again, there are several items that describes the aptitudes aspect, as follows, (1) Perseverance/determination, (2) Self-confidence/enthusiasm, (3) Tolerance towards ambiguity/resistance to stress, and (4) Creativity/imagination. Among the four items I obtained an average level in the perseverance, self-confidence and tolerance towards ambiguity items and show a slight low level

in the creativity/ imagination area. While on the Attitudes aspect, which is the third area being assessed, I was able to obtain an average level on the action oriented area and slight lower level in the “perception to act upon one’s destiny” item.

With the results of the Entrepreneurial Potential Self-Assessment and based on the definition of Entrepreneur  (an enterprising individual who builds capital through risk and/or initiative. The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon [2]), I believe that I have the factors that will make me a business entrepreneur. Making use of my strengths mentioned in the previous pages, I will be able to bring success in the organization or business that I will be leading. For example, putting value on the need for challenges/ambition, I will be able to initiate on different activities that will ensure continuous improvement through experimentation and discovery that I think will contribute in the development of possible service or product that I would like to become part of the business that I would like to venture into.  Second is, having the power to control, attitude of action-oriented and enthusiasm, think I will be able to establish my network as a marketing strategy if ever I decided to put up a business. And lastly, perseverance as well as average level in stress resistance with allow me to become more decisive and on track of the activities that will support my business.

While there are still weaknesses that I possess in relation to an entrepreneur’s strengths, I think I can still manage to overcome those weaknesses through continuous exposure in the business, support from colleagues and other entrepreneur who may be an inspiration for me to pursue career in the business. 3

                                                                                                                 

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[1] www.xxforddictionaries.com         

[2] www.wikipedia.org