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MAJOR ENTREPRENEURIAL COMPETENCIES A successful Entrepreneur should
have the following : 1) Initiative
: An entrepreneur takes action that go beyond job requirements or the demand of the situation. a) Does
things before being asked or forced by the events. b) Acts to extend the business into new areas, products or services. 2) Sees
and Acts on oppurtunities : Looks for and takes action on oppurtunities. a) Sees
and acts on oppurtunities ( Business, educational or personal growth) b) Seizes
unusual opportunities to obtain financing, equipment, land, work space, or assistance. 3) Persistance
: Takes repeated action to overcome obstacle that get in the way of reaching goals. a) Takes repeated or different actions to overcome obstacles. b) Takes action in the
face of a significant obstacle. 4) Information seeking : Takes action on own to get information to help reach
objectives or clarify problems. a) Does personal research on how
to provide a product or service. b) Consults experts for business or technical advice. c) Seeks information
or asks questions to clarify what is wanted or needed. d)
Personally undertakes research, analysis or investigation. e) Uses contacts or information networks to obtain useful information. 5) Concern
for High Quality of work: Acts to do things that meet or beat existing standards of excellence. a) States a desire to produce work of high quality. b)
Compares own work or own company’s work favourably to
that of others. 6) Commitment to Work Contract : Places the highest priority
on getting a job completed. a) Makes a personal sacrifice or expends extraordinary effort to complete a job. b) Accepts
full responsibility for problems in completing a job for others. c) Pitches in with workers
or works in their place to get the job done. d) 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. a) Looks for or finds ways to do things faster or at less cost. b) Uses information
or business tools to improve efficiency. c) Expresses concern about
costs vs. benefits of some improvement, change, course of action. 8) Systematic Planning : Develops and uses logical, step-by-step plans to
reach goals. a) Plans by breaking a large task down into sub-tasks. b) Develops
plans that anticipate obstacles. c) Evaluate alternatives. d) Takes a logical and systematic approach to activities. 9) Problem
solving : Identifies new and potentially unique ideas to reach goals. a) Switches
to an alternative strategy to reach a goal. b) Generates new ideas or innovative solutions. 10) Self-Confidence
: Has a strong belief in self and own abilities. a) Expresses confidence
in own ability to complete a task or meet a challenge. b) Sticks with own
judgement in the face or opposition or early lack of success. c) Does something
that he or she says is risky. 11) Assertiveness : Confronts problems and issues with others directly. a) Confronts
problems with others directly. b) Tell others what they have to do. c)
Reprimands or disciplines those failing to perform as expected. 12) Persuasion
: Successfully persuades others. a) Convinces someone to buy a product or service. b) Convinces someone to
provide financing. c) Convinces someone to do something else that he or she would like that person to do. d) Asserts
own competence, reliability, or other personal or company qualities. e) Asserts strong confidence
in own company’s or organization’s products or services. 13) Use of Influence Strategies
: Uses of variety of strategies to affect others. a) Acts to develop business
contacts. b) Uses influential people as agents to accomplish own objectives. c) Selectively
limits the information given to others. 14) Monitoring a) Develops or uses procedures to ensure that work is completed or that work gets standards
or quality. b) Personally supervises all aspects of a project 15) Concern for Employee Welfare: a) Takes action to improve the welfare of employees. b)
Takes positive action in response to employees’s personal concerns. c) Expresses concern about the welfare of employees. These Competencies can
be developed stepwise : 1) Understanding and Recognising 2) Self Assessment 3) Practise 4) Application in Real Life Situation 5) Feedback
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