Entrepreneurial Competencies
Class 11 Entrepreneurship — The essential competencies every entrepreneur must develop
What are Entrepreneurial Competencies?
Entrepreneurial values and attitudes provide the necessary backdrop for acquiring the sense of enterprise. However, a budding entrepreneur must also have the necessary competencies to venture into an enterprise. Some competencies are latent and need to be identified, nursed and nurtured. Others are acquired through training and practice.
Think of competencies like a cricketer's toolkit: batting skill (creativity), fielding reflexes (problem solving), captaincy (leadership), and fitness discipline (persistence). No single skill makes a complete cricketer — and no single competency makes a complete entrepreneur.
The 10 Entrepreneurial Competencies
Click any competency to explore it in detail. Multiple cards can stay open simultaneously for comparison.
Enterprise Launching and Management Competencies
Enterprise Launching Competencies: Opportunities exist, but not all people respond to them. Large groups in society can perceive only the apparent and traditional openings of earning. Similarly, resources are also available to all members of society, but very few make efforts to ensure the best use of these resources. Entrepreneurs should identify and avail the facilities and resources needed to launch their enterprises.
Enterprise Management Competencies: The enterprise may be small or big but it demands management abilities on the part of its owner or manager. Various management functions such as production, marketing, finance, etc., are crucial functions to entrepreneurs. These influence the result directly and therefore are necessary determinants for the sustenance of an enterprise.