Entrepreneurial Competencies
Presented by:
Abhishek Pratap Singh
Alok Yadav
Semester III (MBA – M52)
MONIRBA, University of Allahabad
Entrepreneurial Competencies:
Introduction
A competence is an underlying characteristic
of a person which led to his or her effective or
superior performance in a job.
The term ‘competence’ refers to the
combination of Knowledge, Skills, Motive,
Attitude and Habits. Every role requires some
particular competencies.
Entrepreneurial Competencies:
o Initiative
o Seeking and Acting on opportunities
o Persistence
o Information seeking
o Concerns for high quality of work
o Commitment to work contract
o Efficiency orientation
o Systematic planning
o Problem solving
o Self confidence
Entrepreneurial Competencies:
o Persuasion
o Use of influence strategies
o Assertiveness
o Monitoring
o Concern for other`s welfare
Initiative
Taking actions that go beyond job
requirements or demands of the situation.
Doing things on own before being asked for; or
being forced to by events.
Taking actions to expand the business into new
areas, products or services.
Seeing and Acting on Opportunities
Looking for and taking actions to seize
opportunities.
Seeing and acting on opportunities for business
development or for personal growth.
Seizing unusual opportunities to obtain and
mobilize necessary resources.
Persistence
Taking repeated actions to overcome
obstacles that get in the way of achieving
goals.
Taking suitable actions in the face of a significant
obstacle.
Ensuring all efforts to solve a problem or barrier.
Information Seeking
Taking action on own to help reach
objectives.
Personally undertaking a research or analysis
to find out answer of some problem.
Seeking information to clarify what is needed.
Using contacts & networks to obtain desired
information.
Concern for High Quality of Work
Doing things that meet or beat existing
standards of excellence.
Stating a desire to produce work of high quality.
Comparing own/ company’s work favourably to
that of others.
Making all out efforts to ensure the quality of
products or services.
Commitment to Work Contract
Placing highest priority for getting a job
completed.
Taking extra-ordinary efforts or making personal
sacrifices to complete a job.
Accepting full responsibility for failures, if any.
Expressing utmost concern for the customers.
Readiness to work even at workers’ places to get
work done.
Efficiency Orientation
Constantly looking for ways to do things
faster or with fewer resources or at a
lesser cost.
Using information or business tools to increase
personal or professional efficiency.
Expressing concern for assessing costs versus
rewards of some improvements, changes or
action.
Systematic Planning
Developing and using logical, step-by-step
plans to reach goals.
Breaking a large task down into several sub-tasks.
Developing plans after duly anticipating obstacles.
Evaluating alternatives on merits and demerits.
Taking a logical and systematic approach to
activities, in general.
Problem Solving
Identifying and applying new and
potentially unique ideas to reach the goals.
Identifying the root-cause of the problem or
objectives.
Developing strategy in the light of objectives,
resources and constraints.
Keeping alternatives, wherever necessary.
Generating new ideas or innovative solutions
Self-confidence
Having a strong belief in self and own
abilities.
Expressing confidence in own ability to complete
a task.
Sticking with own judgment in the face of
opposition or early lack of success.
Doing something for which chances of success
are not very fair.
Persuasion
Persuading others successfully.
Convincing someone successfully to do something
else than what he/she would have done.
Selling someone a product or service.
Making someone agree to provide resources on
extra-ordinary conditions.
Asserting own confidence & competence in
personal or company’s strengths.
Assertiveness
Confronting problems and issues with
others directly
Speaking politely but firmly.
Telling others clearly what they have to do.
Reprimanding those who fail to perform as
expected, however close they may be.
Monitoring
Ensuring smooth progress of project or
work
Ensuring that the work is completed or it is of high
quality.
Personally supervising all aspects of the work.
Developing a system of supervision & monitoring.
Concern for Others’ Welfare
Having a concern & taking suitable actions
to improve others’ welfare.
Taking actions to improve the welfare of society.
Responding positively to employees’ specific
needs.
Having a concern for the welfare of employees
and their families.
Conclusion
These fifteen competencies are very
common in good entrepreneur. It can vary
with one person to another but mostly these
are very common and important for an
entrepreneur.
THANK YOU
