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

Achievement Cluster
I. Opportunity Seeking and Initiative
Does things before asked or forced to by events
Acts to extend the business into new areas, products or services
Seizes unusual opportunities to start a new business, obtain financing,
equipment, land work space or assistance
II. Risk Taking
Deliberately calculates risks and evaluates alternatives
Takes action to reduce risks or control outcomes
Places self in situations involving a challenge or moderate risk
III. Demand for Efficiency and Quality
Finds ways to do things better, faster, or cheaper
Acts to do things that meet or exceed standards of excellence
Develops or uses procedures to ensure work is completed on time or that
work meets agreed upon standards of quality
IV. Persistence
Takes action in the face of a significant obstacle
Takes repeated actions or switches to an alternative strategy to meet a
challenge or overcome an obstacle
Takes personal responsibility for the performance necessary to achieve
goals and objectives
V. Commitment to the Work Contract
Makes a personal sacrifice or expends extraordinary effort to complete a
job
Pitches in with workers or in their place to get a job done
Strives to keep customers satisfied and places long term good will over
short term gain
Planning Cluster
VI. Information Seeking
Personally seeks information from clients, suppliers or competitors
Does personal research on how to provide a product or service
Consults experts for business or technical advice
VII Goal setting
Sets goals and objectives that are personally meaningful and challenging
Articulates clear and specific long range goals
Sets measurable short term objectives
VIII. Systematic Planning and Monitoring
Plans by breaking large tasks down into time-constrained sub-tasks
Revises plans in light of feedback on performance or changing
circumstances
Keeps financial records and uses them to make business decisions
Power Cluster
IX. Persuasion and Networking
Uses deliberate strategies to influence or persuade others
Uses key people as agents to accomplish own objectives
Acts to develop and maintain business contracts
X. Independence and self-confidence
Seeks autonomy from the rules or control of others
Sticks with own judgement in the face of opposition or early lack of
success
Expresses confidence in own ability to complete a difficult task or meet a
challenge

Read more: http://wiki.answers.com/Q/What_is_personal_entrepreneurial_competencies_or_PEC's#ixzz1Oy15lDHA

Personal Entrepreneurial Competencies (PECs)
For reference, I'm posting here the ten Personal Entrepreneurial Competencies (PECs) which seems to be used in the Business Technology/Entrepreneurship programs of the Technology and Livelihood Education (T.L.E.) subject.

The original research by McClelland and McBer identified 14 PECs; the EMPRETEC [a UN program for small businesses; from the Spanish words emprendedores (entrepreneurs) and tecnología (technology)] clustered these into just 10:

Achievement Cluster
I. Opportunity Seeking and Initiative
* Does things before asked or forced to by events
* Acts to extend the business into new areas, products or services
* Seizes unusual opportunities to start a new business, obtain financing, equipment, land work space or assistance

II. Risk Taking
* Deliberately calculates risks and evaluates alternatives
* Takes action to reduce risks or control outcomes
* Places self in situations involving a challenge or moderate risk

III. Demand for Efficiency and Quality
* Finds ways to do things better, faster, or cheaper
* Acts to do things that meet or exceed standards of excellence
* Develops or uses procedures to ensure work is completed on time or that work meets agreed upon standards of quality

IV. Persistence
* Takes action in the face of a significant obstacle
* Takes repeated actions or switches to an alternative strategy to meet a challenge or overcome an obstacle
* Takes personal responsibility for the performance necessary to achieve goals and objectives

V. Commitment to the Work Contract
* Makes a personal sacrifice or expends extraordinary effort to complete a job
* Pitches in with workers or in their place to get a job done
* Strives to keep customers satisfied and places long term good will over short term gain

Planning Cluster
VI. Information Seeking
* Personally seeks information from clients, suppliers or competitors
* Does personal research on how to provide a product or service
* Consults experts for business or technical advice

VII. Goal setting
* Sets goals and objectives that are personally meaningful and challenging
* Articulates clear and specific long range goals
* Sets measurable short term objectives

VIII. Systematic Planning and Monitoring
* Plans by breaking large tasks down into time-constrained sub-tasks
* Revises plans in light of feedback on performance or changing circumstances
* Keeps financial records and uses them to make business decisions

Power Cluster
IX. Persuasion and Networking
* Uses deliberate strategies to influence or persuade others
* Uses key people as agents to accomplish own objectives
* Acts to develop and maintain business contracts

X. Independence and self-confidence
* Seeks autonomy from the rules or control of others
* Sticks with own judgement in the face of opposition or early lack of success
* Expresses confidence in own ability to complete a difficult task or meet a challenge


source:http://eduphil.org/forum/personal-entrepreneurial-competencies-pecs-t-1802.html