ASSIGNMENT #3 - PECS EXPLAINED

1.       Demand for quality and efficiency -  aims to be better than the rest in terms of quality but at lowest cost

2.       Willingness to take risk – the ability to  go on a business at an estimated risk.

3.       Commitment to work and contract – ability to deliver what was promised.

4.       Persistence – always active and not be deterred by failures.

5.       Self Confidence – the ability of the businessman to trust in his ability to deliver and pursue the business.

6.       Goal Setting – ability of the businessman to determine his ultimate and reasonable goal.

7.       Information Seeking – ability of the entrepreneur  to get information necessary for his success.

8.       Persuasion & Networking–his ability to reach out to more people & the ability to convince them.

9.       Vigilance for Opportunities – his ability to be able to determine instance where he can start or expand his business.

10.   Systematic Planning and Monitoring – his ability to guide and supervise his business.

PECs

1.       The various PECs helps an entrepreneur achieve success in his business. Each character complements the other in achieving an entrepreneur’s goal. The character ‘goal setting’ is complemented by persistence. Once goal is set but not achieved, persistence takes place and the businessman find other ways to achieve his success. Just like in our ordinary life, we have to try and try until we succeed.

2.       The different PECs teach us how to do things the businessman way. The PECs is a guide on how the businessman will conduct himself at the start and until the end of the business, even during time of success and failure.

INVENTION CREATED DUE TO NECESSITY

VEHICLE AIR BAGS

         Vehicle Air Bag is a type of automobile safety protection for passengers during an accident. Crash sensor triggers the air bag to deploy and prevent the passengers from serious injury. Air Bags are primarily invented to protect the lives of the persons inside the vehicle.

         Allen Breed was holding the US Patent #5071161 to the only crash sensing technology available at the birth of the airbag industry. Breed invented a ‘sensor & safety system’ in 1968, the world’s first electromechanical automotive air bag system.

        Various American  car companies follow the installation of air bags to their units until the air bags become mandatory  in all cars in 1998

  Source: THE HISTORY OF AIR BAGS  by: MARY BELLIS, About.com Guide

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