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Entrepreneurial competencies

Posted Date: 19-Nov-2009  Last Updated:   Category: Education    
Author: Member Level: Gold    Points: 10

Wondering about entrepreneurial competencies and what are the characteristics that make an entrepreneur? Read this article to know more about Entrepreneurial competencies over here.

Entrepreneurial competencies
A competence is an underlying characteristic of persons, which results in effective and /or superior performance in a job. A job competence is an underlying characteristics of a person, in that it may be motive ,traits, skills ,aspect of ones self-image a body of knowledge ,set of skills and cluster of appropriate motives/ traits that an individual possess to perform a given task.
The knowledge of entrepreneurial competence has been sharpened over the last 3 decades. The following is a list of major competencies that contribute towards top performance.
1. INITIATIVE: Takes action that goes beyond job requirements or the of the situation.
Does things before being asked or forced to by events.
Acts to extend the business into new areas, products, or service.
Looks for and action on opportunities.
Sees and acts on opportunities (business, educational or personal growth).
Seizes unusual opportunities to obtain financing equipment, land, work space. Or assistance.
Takes repeated action to overcome obstacles that get in the way of reaching goals.
Takes repeated or different action to overcome obstacle.
Takes action in the face of a significant obstacle.
Takes action on own to get information to help reach objectives or clarify problems.
Does personal research on how to provide a product or service.
Consults experts for business or technical advice.
5. CONCERN FOR QUALITY OF WORKS: acts to do things that meet or beat existing standards of excellence.
States a desire to produce work of high quality.
Compares own work or own company’s work favorably to that of others.
COMMITMENT TO WORK CONTRACT: acts to do things that place the highest priority on getting a job completed.
Accepts full responsibility for problems in completing a job for others.
Pitches in with workers or works in their place to get the job done.
Expresses a concern for satisfying the customer.
7.EFFICIENCY ORIENTATION :finds ways to do things faster or with fewer resources or at a lower cost.
Looks for or finds ways to do things faster or at less cost .
Uses information or business tools to improve efficiency.
Expresses concern about costs vs. .benefits of some improvements, change, or course of action.
8.SYSTEMATIC PLANNING: develops and uses logical ,step-by-step plans to reach goals.
Plans by breaking a large task down into sub-tasks.
Develops plans that anticipate obstacles.
Evaluates alternatives.
Takes a logical and systematic approach to activities.
9.PROBLEM SOLVING: identifies new and potentially ideas to reach goals.
Switches to an alternative strategy to reach a goal.
Generates new ideas or innovative solutions.
Has a strong belief in self and own abilities .
Expresses confidence is own ability to complete a task or meet a challenge.
Sticks to own judgment in the face of opposition or rarely lack of success.
Does something that he says is risky.
11. ASSERTIVENESS: confronts problems and issues with others directly.
Tells others what they have to do .
Reprimands or disciplines those failing to perform as expected.
12. USE OF INFLUENCE STRATEGIES: uses a variety of strategies to influence others.
Acts to develop business contacts.
Uses influential people as agents to accomplish own objectives.
Selectively limits the information given to others.
Develops or uses procedures to ensure that work is completed or that work gets standards or quality.
Personally supervises all aspects of a project.
Takes action to improve the welfare of employees.
Takes positive action in response to employee’s personal concerns.
Express concern about the welfare of employees.
Developing Entrepreneurial competencies:
Entrepreneurial competencies can be developed by understanding what a particular competence when ,someone else exhibits the same.
Having understood a given competence and having been able to recognize the same when someone else exhibits, the next step is to find out where one stands with respects to a given competency.’ SELF RATING QYEWSTIONNAIRE’
May be used to understand one’s level of competencies and those that are not a part of one’s personality but one would like to acquire those competencies and strengthen others. Any new behavior one acquires would basis in various activities.
Having understood a competence and having practiced the same in a given situation, one needs to introspect to find out how one’s “new behavior” or act of exhibiting a competence has been rewarding .greater the benefit , more will be one’s determination to continue exhibiting the competence in a variety of situations.

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Responses to "Entrepreneurial competencies"
Guest Author: Dr Paz H Diaz     09 Apr 2014
I wish to ask for your kind permission for me quote from your article:
for a book that I am writing on entrepreneurship for Filipino college students. The book is being commissioned by the Small Enterprises Research and Development Foundation (SERDEF), which collaborates with the University of the Philippines Institute for Small Scale Industries. Your article will be very useful in the chapter on the competencies and qualities of the entrepreneur.
I promise to give you full credit and acknowledge you properly in the book.

I am Dr Paz H Diaz, the Board Secretary of SERDEF. You can verify this from the website of the Small Enterprises Research and Development Foundation (SERDEF),

Thank you so much for your kind attention and willingness to give me your permission.
Dr Paz H Diaz


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