Personal Entrepreneurial Competencies – These are characteristics that my help a businessperson to succeed.
1. Integrity
The entrepreneur has a clear sense of values and beliefs that underpin the creative and business decisions that they make; and that influence the actions they take, particularly when in difficult or challenging circumstances
2. Conceptual Thinking
The entrepreneur is prepared to use fresh approaches; comes up with crazy ideas that may or must work, leading to radical change or significant improvements; and takes time listen to new ideas without pre-judgment
3. Risk taking
the entrepreneur understands that risk taking means trying something new, and possibly better, in the sense of stretching beyond what has been done in the past; and that the constant challenge is to learn how to assess choices responsibly, weighing the possible outcomes against his/her values and responsibilities
4. Networking
The entrepreneur understands that networking is a key business activity which can provide access to information, expertise, collaboration and sales; and that careful planning and preparation helps achieve desired results
5. Strategic Thinking
The entrepreneur understands and values the planning process, thinking and planning over a significant timescale; recognizes external trends and opportunities; and is able to think through any complex implications for the business
6. Commercial Aptitude
The entrepreneur keeps up to date with developments in the sector; seeks out best practice; and identifies and seizes opportunities that are not obvious to others
7. Decisiveness
the entrepreneur resolves issues as they arise; does not get bogged down in analysis during decision making; and responds flexibly to deal with changing priorities
8. Optimism
The entrepreneur persists in pursuing goals despite obstacles and setbacks; operates from hope of success rather than from fear of failure; and sees setbacks as due to manageable circumstance rather than a personal flaw.
9. Customer Sensitivity
The entrepreneur builds trust and long term relationships with customers; generates an expectation of high level of customer service; and regularly exceeds customer expectation
10. People Focus
The entrepreneur creates common purpose with colleagues through shared vision and values; walks the talk; sees and values the best in others; builds the total capability of the immediate and wider team; and always considers the principles of inclusiveness in planning and dealing with others
11.Initiative
11.Initiative
The entrepreneur should be able to
Take actions that go beyond his job
requirements and to act faster. He is
always ahead of others and able to
lead the business or industry.
requirements and to act faster. He is
always ahead of others and able to
lead the business or industry.
Examples:
Does things before being asked or
Compelled by the situation
Acts to extend the business into new
Areas, products or services
12. Sees and acts on opportunities
An entrepreneur always search for
And takes action on opportunities
Examples:
Sees and acts on new business
Opportunities
Seizes unusual opportunities to
obtain financing, equipment, land,
work space or assistance
obtain financing, equipment, land,
work space or assistance
13. Persistence
An entrepreneur is able to make repeated
efforts or to take different actions to
overcome an obstacle that gets in the way
of reaching his/her goals.
overcome an obstacle that gets in the way
of reaching his/her goals.
Examples:
Takes repeated or different course of action to
Overcome a problem or obstacle.
Never gives-up easily.
14. Information seeking
An entrepreneur is able to take action on how
To get information in order to help the
business to achieve its objectives or to solve
business problems
business to achieve its objectives or to solve
business problems
Examples:
Conduct personal research on a product or service
Consults experts or relevant authorities to get
Relevant information
Personally undertakes market research, analysis or
Investigation
Uses contacts or information networks to obtain
Useful information
15. Risk Taking
Deliberately calculates risks and evaluates alternatives
Takes action to reduce risks or control outcomes
Places self in situations involving a challenge or moderate risk
Leadership qualities – A businessman or woman must be able to lead his or her staff members as well as other associates. He or she must be able to guide others in carrying out business and make a success of it. Business involves many risks, which a business person must not hesitate to take. Lot of financial involvement is there and obviously one has to be careful with investments. Yet risks have to be taken in money matters as well. Sometimes a businessman may lose out on his or her venture, but when he or she make a success of it then he or she has much to gain, both financially and from a personal satisfaction point of view.
16. Decisive
A successful businessman or woman has to be very decisive. He or she has to take many decisions sometimes on the spur of the moment. Any vacillation in decisions could affect their business. They have to be very firm in their decisions. Also, while taking decisions they must not get influenced by others. They should be able to take decisions independently
17. Confident
Achieving success in business requires confidence. A businessman or businesswoman has to be sure of him or herself about reaching the set targets of success. Diffidence does not help. Self-image is enhanced, when one is confident.
18. Willingness
A businessman or woman must be willing to undertake any matters concerning their business venture. He or she must not hesitate for personal or other reasons. Willingness to extend a helping hand is very essential.
19. Enterprising
One has to be enterprising in order to achieve significant results in business. He or she has to have the zeal to do things. A laid- back approach will not help.
20. Innovative
New ideas help make a business venture successful. A successful businessman or woman must be innovative and always strive for something better. New concepts must be formulated and new ways of doing business must be thought of.
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