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COMPETENCIES OF SUCCESSFUL
ENTREPRENEURS
• Entrepreneurial competencies refer to
key characteristics possessed by
successful entrepreneurs in performing
entrepreneurial functions effectively.
• They listed 13 entrepreneurial
competencies possessed by successful
entrepreneurs.
*PERSONAL
INITIATIVE
*SEIZE
OPPORTUNITIES *ENDURANCE
*INFORMATION
SEEKER
*HIGH WORK
QUALITY
*COMMITMENT TOWARDS
WORK AGREEMENT
1.PERSONAL INITIATIVE
• An entrepreneur who has strong personal
initiative is able to act immediately on available
opportunities and choose best strategy when he
face a problem.
• Initiative allows an entrepreneur to be alert and
proactive.
• Example:Does things before being asked or
compelied by the situation.
2.Seize Opportunities
• Entrepreneur grabs or seize opportunities
continuously to make sure thet his business
sustains for a long time in the industry.
• Focuses,identifies and exploits business
opportunities.
• Maximizes his thinking capacity by finding
sulutions to problems faced by community.
• Examples:seize unusual opportunities to obtain
financing,equipment ,land ,work space or
assistance.
3.ENDURANCE
• Has to face various barriers and problems
before achieving success.
• Needs to have great strength and courage within
him.
• Strong enough to face problems and barriers
courageously.
• He would never give up accomplishing his vision
and tries to deal with barriers that block his path
to achieving success.
• Faces various problems and risks.
• Example: increase in the cost of raw materials
and decrease in denand for his products.
4.Information Seeker
• A successful entrepreneur is able to seek
information,that is he has done some research
to obtain information and received feedback
from customerr in order to provide a good
product or service that can gain customer
satisfaction and acceptance.
• Examples:do a personal research on how to
provide a product or service.
5.High Work Quality
• Places care on quality and can be seen as having
the urge to sell or produce products of high
quality.
• He always makes a comparison of his work quality
with those of others to make sure his products are
always better.
• The continuous prooduction of quality products
and services will determine the customers's
faithfulness ,commitment and satisfaction.
• Products of high quality will bring profitable
returns to an entrepreneur as it ensures the faith
of customers towards the products.
• Example: states a desire to produce or sell a top
or better quality products and service.
6.COMMITMENT TOWARDS WORK
AGREEMENTS
• Entrepreneur devotes total commitment to the
venture.
• This commitment help the entrepreneur to recify
mistakes and overcome obstacles which threaten
business operation.
• His commitment to ideas and ventures determine
how successful those ventures ultimately
become.
• Example:makes a personal sacrifice or expands
extraordinary effort to complete a job.
Competencies of successful entrepreneurs

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Competencies of successful entrepreneurs

  • 2. • Entrepreneurial competencies refer to key characteristics possessed by successful entrepreneurs in performing entrepreneurial functions effectively. • They listed 13 entrepreneurial competencies possessed by successful entrepreneurs.
  • 4. 1.PERSONAL INITIATIVE • An entrepreneur who has strong personal initiative is able to act immediately on available opportunities and choose best strategy when he face a problem. • Initiative allows an entrepreneur to be alert and proactive. • Example:Does things before being asked or compelied by the situation.
  • 5. 2.Seize Opportunities • Entrepreneur grabs or seize opportunities continuously to make sure thet his business sustains for a long time in the industry. • Focuses,identifies and exploits business opportunities. • Maximizes his thinking capacity by finding sulutions to problems faced by community. • Examples:seize unusual opportunities to obtain financing,equipment ,land ,work space or assistance.
  • 6. 3.ENDURANCE • Has to face various barriers and problems before achieving success. • Needs to have great strength and courage within him. • Strong enough to face problems and barriers courageously. • He would never give up accomplishing his vision and tries to deal with barriers that block his path to achieving success.
  • 7. • Faces various problems and risks. • Example: increase in the cost of raw materials and decrease in denand for his products.
  • 8. 4.Information Seeker • A successful entrepreneur is able to seek information,that is he has done some research to obtain information and received feedback from customerr in order to provide a good product or service that can gain customer satisfaction and acceptance. • Examples:do a personal research on how to provide a product or service.
  • 9. 5.High Work Quality • Places care on quality and can be seen as having the urge to sell or produce products of high quality. • He always makes a comparison of his work quality with those of others to make sure his products are always better. • The continuous prooduction of quality products and services will determine the customers's faithfulness ,commitment and satisfaction.
  • 10. • Products of high quality will bring profitable returns to an entrepreneur as it ensures the faith of customers towards the products. • Example: states a desire to produce or sell a top or better quality products and service.
  • 11. 6.COMMITMENT TOWARDS WORK AGREEMENTS • Entrepreneur devotes total commitment to the venture. • This commitment help the entrepreneur to recify mistakes and overcome obstacles which threaten business operation. • His commitment to ideas and ventures determine how successful those ventures ultimately become. • Example:makes a personal sacrifice or expands extraordinary effort to complete a job.