Sunday, February 14, 2010

Strengths and Weaknesses of Filipino Entrepreneurs

In an era of global exchange of goods and services, of accelerated means of transportation and communication, and of advance information technology, entrepreneurs are subjected to diversed forms of risks and challenges. The complexity of the scenario requires business enterprises to efficiently and economically run so as to survive competition. This condition creates a real demand for managers and entrepreneurs who will sustain the profitability and viability of the enterprise. Who then are these entrepreneurs/managers who survive in business and who are those who do not?

In real life, not everyone goes through the same set of life experiences. All of us differ from one another in our abilities and potential to succeed in any vocation or career. An entrepreneur who is likely to succeed in business possesses strengths as well as weaknesses which spell the difference for the success or failure of the business.

Qualities which are considered as strength and weaknesses for an enterpreneur are the following:

Strengths:
  • Always sets his/her own realistic goals
  • Self-reliant
  • Focuses on positive objectives
  • Periodically reviews performances
  • Learns from own mistakes
  • Accepts changes and uses them when to motivate self
  • Takes care of himself/herself physically
  • Sticks to schedule
  • Is self-motivated
  • Is action oriented
  • Manages backtracking
  • Finishes work once started
  • Reflects on time management regularly
  • Associates with other entrepreneurs; patterns, lifestyles, values and habits after successful entrepreneurs
Weaknesses:
  • Sets unrealistic goals
  • Depends on other people for attainment of goals
  • Focuses on goals which call to stop or avoid doing things
  • Does not keep track of progress
  • Does not improve on areas where she/he failed
  • Is afraid of changes
  • Is unmindful of physical appearance
  • Depends outside forces to be motivated
  • keeps on going back and forth on the same path
  • Does not complete most often any given task
  • Is not conscious of time wasted
  • Does not develop the habit of working well with people

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