Entrepreneurs: competencies

Chapter 1: Entrepreneurship

Copyright 2003 Prentice Hall Publishing Company

Entrepreneurial competencies : Major clusters

Achievement Thinking and problem solving Personal maturity Influencing Directing and controlling Concern for others

Chapter 1: Entrepreneurship

Copyright 2003 Prentice Hall Publishing Company

Entrepreneurial competencies
Achievement cluster Initiative Seeing & acting on opportunities Persistence Information seeking Concern for high quality of work Commitment to work contract Efficiency orientation

Chapter 1: Entrepreneurship

Copyright 2003 Prentice Hall Publishing Company

Problem solving
Identifying and applying new and potentially unique ideas to reach the goals Identifying the objective or the root-cause of the problem. Developing a strategy keeping in view the objectives, resources and constraints. Keeping an alternate strategy to reach goal in adverse situations, if needed. Generating new ideas or innovative solutions

Source: Yanjelovich Partners and Pitney Bowes.

Personal maturity -Confidence

Having a strong belief in self and own abilities. Expressing confidence in own ability to complete a task or meet a challenge. Sticking with own judgement in the face of opposition or early lack of success Doing something for which chances of success are not very fair.

Chapter 1: Entrepreneurship

Copyright 2003 Prentice Hall Publishing Company

Assertiveness
Confronting problems and issues with others directly. Keeping issues politely but firmly. Telling others clearly what they have to do. Reprimanding or disciplining those who fail to perform as expected, however close they may be.

Chapter 1: Entrepreneurship

Copyright 2003 Prentice Hall Publishing Company

PERSUASION

Convincing others To work To finance To buy products

Chapter 1: Entrepreneurship

Copyright 2003 Prentice Hall Publishing Company

Use of influence strategies

Using a variety of strategies to influence others successfully. Taking actions to develop business contacts. Using influential people as agents to get accomplished own objectives. Selectively limiting the information to be given to others. Using others authority and resources of others to influence or persuade others.

Chapter 1: Entrepreneurship

Copyright 2003 Prentice Hall Publishing Company

MONITORING
* Ensuring smooth progress of project or work Developing or using procedures to ensure that work is completed or it is of high standard and quality Personally supervising all aspects of the project Developing a system through which all aspects of work could be properly and timely. monitored.

Chapter 1: Entrepreneurship

Copyright 2003 Prentice Hall Publishing Company

Concern for others welfare

Having a concern and taking suitable actions to improve the welfare of others Taking actions to improve the welfare of the society at large. Taking actions in response to employees specific needs and concerns. Reflecting due concern for the welfare of employees and their families.

Chapter 1: Entrepreneurship

Copyright 2003 Prentice Hall Publishing Company

10

Starting your own business -constitution -registration a) income-tax( PAN ) b) SSI registration c) Sales tax number d) Import export code. e) Pollution control certi. Aquiring resources. a) Land b) Manpower c) Utilities.

Chapter 1: Entrepreneurship

Copyright 2003 Prentice Hall Publishing Company

11

-Aquision o

Chapter 1: Entrepreneurship

Copyright 2003 Prentice Hall Publishing Company

12