CHAPTER 6- IDENTIFY THE PURSUIT OF KNOWLEDGE FOR ENTREPRENEURS

 Knowledge- it is acquired through education, learning, discovery and experiences. It is usually

what we know, we are familiar with or what we are aware. In this, if you have the knowledge in
starting a business and how to make it successful, there’s a high tendency that you can achieve it
since you already know what is the need to do or not to do in your business. Knowledge shapes
and affects all the activities in and around your business. Example for this is when your business
is currently facing a problem, with your knowledge on how to face and solve it, you can have an
idea on how to solve it.
Example of source of knowledge:
Customer knowledge - you should know your customers' needs and what they think of you. You
may be able to develop mutually beneficial knowledge sharing relationships with customers by
talking to them about their future requirements, and discussing how you might be able to
develop your own products or services to ensure that you meet their needs.

FUNDAMENATAL MANAGEMENT KNOWLEDGE

Creativity- it is an ability to search and find new solutions, in this you must have the knowledge on
how to make your products appealing in the eyes of the customers. Being creative or innovative it
can help your business to be more competitive than the others. In this you can attract old and new
consumers to avail the products that you have if it is new to their eyes and taste. So it is important
to improve the product that you had because consumers are always looking for something new.
Example is the pizza pasta, when you noticed that most of the people loves to eat pizza and pasta,
you must think on how to improve it. You will make a two-layered pizza and the pasta is inside the
pizza.
Intuition- be able to predict future development from own experience without analysis, in this you
have an advance mindset. Since you already had an experienced on that, you intuited or maybe
thought that this will happen next based on your experienced. Using your intuition can help you
make the right decision while allowing the necessary speed to match the importance of the
decision. Example for this is you have a gut feeling that your business will face a problem in the
next few months, so in this you are able to prepare and plan for possible solutions on how to solve
that problem.
Goal oriented- be able to set real goals and respect the goal’s hierarchy. Being goal-oriented means
you are focused on completing relevant tasks in order to achieve planned objectives. Goal orientation is
the degree to which a person or organization focuses on tasks and the end results of those tasks.
Example for this is planning and organizing you can plan the steps it takes to reach each goal, arrange
tasks in a logical order and gather the resources you need so they are easily accessible.
Responsibility- sense for achieving set goals and objectives. As an entrepreneur, you'll be in charge of
building the team that carries your ideas and objectives through to success. This means you'll have
full control over who comes into your organization, and you can prioritize whatever blend of skills,
talents, education, experience and personality you need to make things work Example for this is
before you start up your business you already know that you have the responsibility to take care
of your business whatever may happen. If problem may arise you have the responsibility to take
care and find solutions for it.
Self-Confidence- belief in own strength and ability to achieve goals. In your business, the
confidence is important. Example for this is Having confidence means knowing your worth and
trusting that others will recognize the value of your service too. Without confidence, a business
owner may want to reach everyone and anyone - keeping their fees and prices low, as they are
afraid to ask for more money. They may wait until everything is perfect before raising their fees or
prices. Confident business owners know that, in order to successfully deal with clients, plan
strategies, execute policies and make influential decisions, they need to portray their confidence.
This helps in encouraging people to trust them, value their opinions and rely on their judgement.
Initiative- an effort to look for new possibilities and solutions for reaching set goals. Initiative is the
ability to be resourceful and work without always being told what to do. It requires resilience and
determination. Initiative will allow you to get ahead of the competition and ensure you’re up to
date with what’s going on in your career sector. Example for this is, when you see something that
need to do in your business, you must have an initiative to take care of it voluntarily without being
told to do so. It is important because it makes you a desirable candidate for jobs and opportunities
as you are showing you can think for yourself and proving that you will continue to develop and
grow in your role.
Independence- the courage to make decision based on own judgement. As an entrepreneur,
learning to think, act, and plan independently – without a boss or team to lean on – can be
intimidating at first. But being able to run a company with self-reliance and steer it with a
thoughtful sense of control is essential to long-term entrepreneurial success. Develop the skills
you need to be a bold thinker who operates your company with determination and resolve.
Example for this is making a decision, do not wait for the opinion of others and you must know
how to make decision just by yourself.
Cautiousness- be able to make decision based on own judgement. Develop the skills you need to
be a bold thinker who operates your company with determination and resolve. Example for this is
making a decision, do not wait for the opinion of others and you must know how to make decision
just by yourself.
Scrupulosity- support social values and norms. Norms provide order in society. ... Human beings
need norms to guide and direct their behavior, to provide order and predictability in social
relationships and to make sense of and understanding of each other's actions. These are some of
the reasons why most people, most of the time, conform to social norms.
Discipline- self-control and regulation of own behavior. It is important because When you are
disciplined with how you manage the company, you will be less stressed, employees will be
happier and the company will be more profitable. Example for this is for the business success, you
can’t have employees coming into work two hours later than expected, taking two hour lunches,
spending more time on social media than working productively or leaving work early.
Persistence- tenacity needed to overcome barrier when achieving goals. Persistence, and the
willingness to overcome a wide range of obstacles, usually determines the fate of a company. The
companies or business owner who give up too easily is more likely to fail. You must face your fear
of failure. An example for this is as an entrepreneur who has face and overcome many different
situations. You must have a persistence and willingness to succeed, there’s this saying that I always
thought every time I fail “Fall seven times, stand up eight.”
Optimism- orientation towards positive goals. Being optimistic even the problem arises can give a
positive energy in your business. You must think that everything happens for a reason that it can
be solve if you will try to find solutions to it. Example for this is you are currently facing a problem,
but you know that you can solve that in no time if you try harder to solve it. Just always think
positive that everything will go as what you planned, that the obstacle you are facing is just a mere
challenge for you to stay stronger.
Fantasy- creation of visions and imaginations about future. It is not bad to dream on something
bigger. It is good that you have a wide range of imagination because it helps you or can lead you
to go further than what you have imagined and by that you will start to making a plan on how to
achieve that vision of yours. Example for this is you see your business into a corporation in the
future, in this, you will try harder to achieve that vision of yours.

DIFFERENT ROLES OF AN ENTREPRENEURS

Interpersonal roles- is figurehead, leader, liaison. It is our ability as a person on how to work with
others well or socializing. It is important because, as an entrepreneur you are to deal with others,
with different personalities and characteristics. You must know to deal with them without getting
irritated and staying calm. Interpersonal skills influence business cultures because they affect job
performance, which in turn helps to decide the outcome of a company's success. Example for this
is interaction with others, good communication skills, active listening skills, and attitude.
Information roles- is monitor, disseminator, and spokesperson. Information role is very important
in the field of businesses it’s because the information is the life blood of the business. Example for
this is when you are to share an information, it must be accurate and from a reliable source. We
are talking about the business here, if one wrong information you shared to others about the
business it can affect the reputation of the business.
Decision making role- entrepreneur, disturbance handler, resource allocator and negotiator. For
me this is the most important role of the entrepreneur. In making decision it must have an
advantage in your business and are thought thoroughly, your business is at stake in making a
decision. If you are an able decision maker, you’ll be much more likely to make better decisions.
The decisions you will make will keep your business do well. Example is you are to make decisions
whether to invest another product or not, you must think thoroughly that if it has an advantage
for your business.

BASIC MANAGERIAL SKILLS

Technical- Technical skills are the expertize and competence required to perform specific digital
or physical tasks. No matter what industry you or your employees are in, knowledge of some
technical skills will be required to fulfill day-to-day performance. Especially in our generation
where digital works is usually the most common work. Using of computers is already a common
way to perform the work. Example for this is you are working as a secretary in a company, in
managing the schedule of your boss, you are going to use the computers or other gadgets.
Interpersonal skills- Both verbal and non-verbal interpersonal skills are extremely important when
it comes to a company's success. When you can speak to people in an articulate manner, you avoid
communication errors and you are more likely to have happy customers. It is important because,
as an entrepreneur you are to deal with others, with different personalities and characteristics.
You must know to deal with them without getting irritated and staying calm. Interpersonal
skills influence business cultures because they affect job performance, which in turn helps to
decide the outcome of a company's success. Example for this is interaction with others,
good communication skills, active listening skills, and attitude.
Conceptual- Conceptual skills are the abilities that allow an individual to better understand complex
scenarios and develop creative solutions. From a management perspective, these skills are valuable
because those who have them can approach complicated workplace situations in a variety of different
ways. Example for this is no matter what industry your company operates in, it will face challenges that
require innovative and creative ways of thinking. In these situations, conceptual skills are the most
beneficial to the organization. A conceptual leader can think through their ideas, transforming thoughts
into action-driven solutions.
Communication- Communication skills are needed to speak appropriately with a wide variety of people
whilst maintaining good eye contact, demonstrate a varied vocabulary and tailor your language to your
audience, listen effectively, present your ideas appropriately, write clearly and concisely, and work well
in a group. Example of communication skills is listening to others and showing interest on what they
say, while maintaining an eye contact. The ability to communicate effectively with clients, colleagues
and managers is essential, whatever sector you work in. Good communication improves teams, inspires
high performance and enhances the workplace culture.

EDUCATION IN MANAGEMENT- Organizations today need leaders who can navigate a fast-changing
economy, applying an entrepreneurial outlook. Management education acts as a fertile ground to
develop entrepreneurial skills, independent thinking, ability to spot the opportunities, risk taking
ability, etc.

Pyramid of certain managerial skills

1. Leadership or Championing- It is our ability as a person on how to work with others well or
socializing. It is important because, as an entrepreneur you are to deal with others, with
different personalities and characteristics. You must know to deal with them without
getting irritated and staying calm. Interpersonal skills influence business cultures because
they affect job performance, which in turn helps to decide the outcome of a company's
success. Example for this is interaction with others, good communication skills, active
listening skills, and attitude.
2. Visioning- It is not bad to dream on something bigger. It is good that you have a wide range
of imagination because it helps you or can lead you to go further than what you have
imagined and by that you will start to making a plan on how to achieve that vision of yours.
Example for this is you see your business into a corporation in the future, in this, you will
try harder to achieve that vision of yours.
3. Planning, Strategy- Planning is very important in the business industry. Even before starting
up your business, you already had the plan in your business. This will help you to have a
vision or goals for your business. Example for this is you plan to make stall for the products
that you have made, then your business is already successful and is already a hit, you are
already planning on making or building a store for it.
4. Soft Skills and communication- Communication skills are needed to speak appropriately with
a wide variety of people whilst maintaining good eye contact, demonstrate a varied vocabulary
and tailor your language to your audience, listen effectively, present your ideas appropriately,
write clearly and concisely, and work well in a group. Example of communication skills is
listening to others and showing interest on what they say, while maintaining an eye contact.
The ability to communicate effectively with clients, colleagues and managers is essential,
whatever sector you work in. Good communication improves teams, inspires high performance
and enhances the workplace culture.
5. Basic Management Skills- UNDERSTANDING AND DISPLAYING GOOD MANAGEMENT SKILLS
WILL HELP TO POSITION YOU FOR A SUCCESSFUL CAREER NO MATTER WHAT LEVEL YOU'RE
STARTING AT. EXAMPLE IS TECHNICAL SKILLS, INTERPERSONAL SKILLS, CONCEPTUAL SKILLS
AND COMMUNICATION SKILLS.
 6. LITERACY/ NUMERACY/ COMPUTERACY- The ability to read, write, and understand
information, can hugely affect your employability. Literacy and numeracy help people gain
the fundamental skills necessary to achieve success in life. These required skills often
overlap and are necessary for any task. In computeracy. No matter what industry you or
your employees are in, knowledge of some technical skills will be required to fulfill day-to-
day performance. Especially in our generation where digital works is usually the most
common work. Using of computers is already a common way to perform the work. Example
for this is you are working as a secretary in a company, in managing the schedule of your
boss, you are going to use the computers or other gadgets.

The base of the pyramid is technical, it is important because No matter what industry you or your
employees are in, knowledge of some technical skills will be required to fulfill day-to-day
performance. Especially in our generation where digital works is usually the most common work.
Using of computers is already a common way to perform the work. Example for this is you are
working as a secretary in a company, in managing the schedule of your boss, you are going to use
the computers or other gadgets.
The second step is managerial skills UNDERSTANDING AND DISPLAYING GOOD MANAGEMENT
SKILLS WILL HELP TO POSITION YOU FOR A SUCCESSFUL CAREER NO MATTER WHAT LEVEL YOU'RE
STARTING AT. EXAMPLE IS TECHNICAL SKILLS, INTERPERSONAL SKILLS, CONCEPTUAL SKILLS AND
COMMUNICATION SKILLS. YOU MUST HAVE AN IDEA ABOUT THE BASIC MANAGERIAL SKILLS.
THE SOFT SKILL COMMUNICATION IS THE THIRD STEP OF MANAGERIAL SKILLS IT’S BECAUSE
Communication skills are needed to speak appropriately with a wide variety of people whilst
maintaining good eye contact, demonstrate a varied vocabulary and tailor your language to your
audience, listen effectively, present your ideas appropriately, write clearly and concisely, and work well
in a group. Example of communication skills is listening to others and showing interest on what they
say, while maintaining an eye contact. The ability to communicate effectively with clients, colleagues
and managers is essential, whatever sector you work in. Good communication improves teams, inspires
high performance and enhances the workplace culture.
The fourth step is formal planning and strategy- Planning is very important in the business industry.
Even before starting up your business, you already had the plan in your business. This will help you
to have a vision or goals for your business. Example for this is you plan to make stall for the
products that you have made, then your business is already successful and is already a hit, you are
already planning on making or building a store for it.
VISION- how the company see its future creation of visions and imaginations about future. It is not
bad to dream on something bigger. It is good that you have a wide range of imagination because
it helps you or can lead you to go further than what you have imagined and by that you will start
to making a plan on how to achieve that vision of yours. Example for this is you see your business
into a corporation in the future, in this, you will try harder to achieve that vision of yours