• Entrepreneurial competencies refer to
key characteristics possessed by
successful entrepreneurs in performing
entrepreneurial functions effectively.
• They listed 13 entrepreneurial
competencies possessed by successful
• 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
• Example:Does things before being asked or
compelied by the situation.
• 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
• Maximizes his thinking capacity by finding
sulutions to problems faced by community.
• Examples:seize unusual opportunities to obtain
financing,equipment ,land ,work space or
• Has to face various barriers and problems
before achieving success.
• Needs to have great strength and courage within
• Strong enough to face problems and barriers
• 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.
• 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
• He always makes a comparison of his work quality
with those of others to make sure his products are
• 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
• Entrepreneur devotes total commitment to the
• This commitment help the entrepreneur to recify
mistakes and overcome obstacles which threaten
• His commitment to ideas and ventures determine
how successful those ventures ultimately
• Example:makes a personal sacrifice or expands
extraordinary effort to complete a job.