Illustrations of PECs

• What is the primary action an entrepreneur takes when he sees a business opportunity?

  He is quick to take it.
• Why is entrepreneurship considered a competitive field?

  Because entrepreneurs are always looking for chances to improve their position.
• What does an entrepreneur value regarding his commitments?

  His reputation for dependability.
• How does an entrepreneur respond to setbacks?

  He finds ways to overcome obstacles and accomplish his tasks.
• What is a key characteristic of an entrepreneur regarding risk?

  He is willing to take risks.
• What does taking risks in business lead to?

  It leads to the discovery of better products and services.
• What does a true entrepreneur demand in terms of quality?

  He demands efficiency and quality.
• How does insisting on quality affect an entrepreneur?

  It increases his productivity and sets him apart from the competition.
• What is the purpose of setting goals for an entrepreneur?

  It gives him a sense of purpose.
• What does goal setting inspire an entrepreneur to do?

  It inspires him to make definite plans and follow them with concrete action.
• What is an entrepreneur always searching for?

  New information related to his business.
• How does an entrepreneur use the information he seeks?

  To improve his services, satisfy his customers, and stay ahead of competitors.
• What is essential for an entrepreneur before starting a new venture?

  Systematic planning and monitoring.
• Why is careful evaluation important for an entrepreneur?

  To be aware of his progress every step of the way.
• What ability does an entrepreneur need to promote his product or service effectively?

  The ability to persuade and network.
• How do satisfied customers help an entrepreneur?

  They promote the business through word of mouth.
• What does self-confidence in an entrepreneur stem from?

  Knowing he has done his best to provide value to his clients.
• How does an entrepreneur demonstrate confidence in his business?

  By showing that he is committed to giving his clients the best value.