Entrepreneurship

1. MAJOR ENTREPRENEURIAL
COMPETENCIES
Entrepreneurship – Lesson 3

2. Topics to be
Discussed…………..
 Entrepreneurial Competencies
 Competencies required for successful
entrepreneurs
 Some other competencies of an entrepreneur
 Students’ Group Discussion

3. Entrepreneurial Competencies
 Entrepreneurial Competencies refer to the key
characteristics that should be possessed by
successful entrepreneurs in order to perform
entrepreneurial functions effectively.
 Competencies refer to knowledge, skills and
attitude possessed by an individual

4. Competencies Required for
Successful Entrepreneurs
Competencies Definitions/ Illustration
1. Initiative Does things before being asked or
forced to, by events.
2. Assertiveness Confronts problems with others
directly. Tells others what they
have to do.

5. Competencies Required for
Successful Entrepreneurs
Competencies Definitions/ Illustration
Achievement Orientation
3. Sees and acts on
opportunities
Looking for opportunities and take
action to use the opportunities.
Action like obtaining financing,
land, work, space, or assistance.
4. Efficiency
orientation
Looks for or finds ways to do things
faster or at less cost.
5. Concern for high
quality of work
Desire to produce or sell a top or
better quality product or service.

6. Competencies Required for
Successful Entrepreneurs
Competencies Definitions/ Illustration
Achievement Orientation
6. Systematic
Planning
Develops logical, step by step plans
to reach the goal. (Breaks a large
task down into subtasks, or sub
goals, anticipates obstacles, and
evaluates alternatives.)
7. Monitoring Develops or uses procedures to
ensure that work is completed or
that work meets standards of

7. Competencies Required for
Successful Entrepreneurs
Competencies Definitions/ Illustration
Commitment To Others
8. Commitment to
work contract
Makes a personal sacrifice or
expends (use/ apply) extraordinary
effort to complete a job, pitches in
with workers or works in their place
to get the job done.
9. Recognizing the
importance of
business
relationships
Acts to build rapport or friendly
relationships with customers sees
interpersonal relationships as a
fundamental business resource,
places long-term goal will over

8. Some Other Competencies of an
Entrepreneur
 Persistence
 Problem solving
 Self–confidence
 Persuasion
 Monitoring
 Concern for others’ welfare

9. Group Discussion
 Students would have a guided discussion
in groups and present their viewpoints
 Benefits of Entrepreneurship
 Potential Drawbacks

10. Review…………..
 Entrepreneurial Competencies
 Competencies required for successful
entrepreneurs
 Some other competencies of an entrepreneur
 Students’ Group Discussion