The document discusses competency and entrepreneurial competencies. It defines competency as the knowledge, skills, abilities, and strengths needed to perform a job or task. Entrepreneurial competency refers to expertise in business processes and exploiting opportunities. Key competencies include initiative, persistence, self-confidence, customer orientation, and problem solving. Maintaining, building, and deploying competencies is important for business performance and competitive advantage. Major competencies for entrepreneurs are integrity, conceptual thinking, risk-taking, networking, planning, and having a people focus.

1. COMPETENCE
• The quality or state of being competent: such as the
quality or state of having sufficient knowledge,
judgment, skill, or strength (as for a particular duty or
in a particular respect)
• Determination competencies: skills identified with the
energy and focus needed to bring a business into
existence
• Opportunity competencies: skills necessary to identify
and exploit elements of the business environment that
can lead to a profitable and sustainable business

2. Entrepreneurial competency means the area of expertise, skills,
ability, efficiency, updated technology regarding organizational and
business processes of a firm.
Perspectives of competency
 Identifying existing competency
 Establishing competence acquisition agenda
 Building competency
 Deploying competency
 Protecting and defending competence leadership

3. • Initiative
• Snatches Opportunity
• Persistence assertive persuasive, Self Confidence, Influence
• Information Seeking
• Concern for high Quality
• Commitment
• Efficiency orientation, Monitoring
• Systematic Planning
• Problem Solving
• Concern for work and employees
• Customer Orientation

4. Customer Value: Competencies are the skills that
enable a firm to deliver a fundamental customer
benefit.
Competitor Differentiation:
A capability must also be competitively unique
Extendibility
A competitive is truly core when it focus the basis for
entry into new product markets

5. • Opportunity for growth will be turned down
• Ignorance of competencies may weaken the enterprise
• The lack of competence perspective can make a
company dependent on outside suppliers for core
products.
• A company focused only on end products may fail to
invest adequately in new competency that constrain
growth in the future
• The new entrants in the area/competitors may lag the
growth of the company.

6. Tools:
• Environment Scanning
• SWOT Analysis

7. Major Competencies that contribute towards top performance
to entrepreneur
1. Integrity the entrepreneur has a clear sense of values and
beliefs that underpin the creative and business decisions that
they make and that influence the actions that take
particularly when in difficult or challenging circumstances.
2. Conceptual Thinking
The entrepreneur is prepared to use fresh approaches comes up
with crazy ideas that may just work, leading to radical change or
significant improvements and takes time to listen to new ideas
without pre-judgment.

8. The entrepreneur understands that risk taking means trying
something new, and possibly better, in the sense of
stretching beyond what has been done in the past and that
the constant challenge is to learn how to assess choices
responsibly weighing the possible outcome against his /her
value and responsibilities.
• Networking
The entrepreneur understands that networking is a key
business activity which can provide access to information,
expertise, collaboration and sales; and that careful planning
preparation helps achieve desired results.

9. • The entrepreneur understands and values the planning
process, thinking and planning over a significant
timescales, recognizes external trends and opportunities
and is able to think through any complex implications for
the business.
• People Focus
The entrepreneur creates common purpose with colleagues through
shared vision and values,
walks the talk, sees and values the best in others , builds the total
capability of the immediate and wider team and always consider the
principles of inclusiveness in planning and dealing with others

10. •