Accountability

and Responsibility
of Entrepreneurs
1. Logical thinking and action
LOGICAL THINKING
• process in which one uses reasoning consistently
to come to a conclusion.
• Logical thinkers observe and analyze phenomena,
reactions, and feedback and then draw
conclusions based on that input. They can justify
their strategies, actions, and decisions based on
the facts they gather.
ACTION
• the fact or process of doing something,
typically to achieve an aim.
2. Knowledge and information is
power

KNOWLEDGE
• is an important strategic asset. It is a sum of
skills, experiences, capabilities and expert
insight, which you collectively create and rely
on in your business.
• Understanding of someone or
something, such as facts, information,
descriptions, or skills, which is
acquired through experience or
education by perceiving, discovering,
or learning.
INFORMATION

• Data that is (1) accurate and timely, (2)

specific and organized for a purpose, (3)
presented within a context that gives it
meaning and relevance, and (4) can lead to
an increase in understanding and decrease in
uncertainty.
•Business Information
-means all information and
records relating to the Company
or the business or activities or
affairs of the Company, which can
be reasonably considered to be
confidential to the Company.
3. Competition and choice
COMPETITION
• is the rivalry between companies selling
similar products and services with the goal
of achieving revenue, profit, and market
share growth.
CHOICE
• are decisions which are made by firms,
individuals, and or governments
regarding which needs and wants to
satisfy, and what types of products and
services should be produced and
bought.
4. Understand the dynamics at
different stages of a business
DYNAMICS
•Dynamics the forces or properties
which stimulate growth,
development, or change within a
system or process.
Different Stages of a Business
5. Risks and rewards

RISKS
• a situation involving exposure to
danger
• A probability or threat of damage,
injury, liability, loss, or any other
negative occurrence in the business
REWARDS

• a thing given in recognition of one's

service, effort, or achievement.
6. Accountability and
responsibility

ACCOUNTABILITY
• refers to the obligation and
responsibility to give an explanation or
reason for the company’s actions and
conduct.
•
RESPONSIBILITY
• A duty or obligation to satisfactorily
perform or complete a task (assigned
by someone, or created by one's own
promise or circumstances) that one
must fulfill, and which has a
consequent penalty for failure.
7. Your mindset and attitude matters very
much

Business MINDSET
• simply means you are willing to do the
work needed to get business done.
MINDSET is a set of assumptions,
methods, or notations held by one or
more people or groups of people.
ATTITUDE

• way of thinking and behaving that

people regard as unfriendly, rude,
etc.
• The way we behave and
communicate with other people.
ATTITUDE
• a tendency to respond positively or
negatively towards a certain idea,
object, person, or situation. Attitude
influences an individual's choice of
action, and responses to challenges,
incentives, and rewards
8. Communicate and negotiate

•COMMUNICATE