This document discusses entrepreneurial competencies. It begins by defining competency as a set of skills, knowledge, and attributes that allow successful task performance. Entrepreneurial competencies include basic business competency, determination competency, opportunity competency, and resource competency. Some key entrepreneurial success competencies are then outlined, such as integrity, conceptual thinking, risk taking, networking, strategic thinking, commercial aptitude, decisiveness, optimism, customer sensitivity, and people focus. The document also discusses identifying business opportunities, assessing competition, and making versus buying decisions. In summary, it provides an overview of the concept of competencies and outlines important competencies for entrepreneurial success.

1. KIRAN RANA
ASSISTANT PROFESSOR
DEPARTMENT OF AGRICULTURAL COMMUNICATION
COLLEGE OF AGRICULTURE
GBPUA&T
PANTNAGAR

2. • Entrepreneurship training requires a non-
traditional approach in which students must learn
to embrace the challenges of operating in a
business environment that favors creativity and
risktaking.
• Not only must students be exposed to a business
education that emphasizes multi-disciplinary skills
but they must participate in an “entrepreneurial
experience”

3. COMPETENCY – THE
CONCEPT AND
COMPONENTS
Spencer and Spencer (1993) define “a competency as an
underlying characteristic of an individual that is causally
related to criterion referenced effective and/or superior
performance in a job or situation. Similarly,
“A Competency is a set of skills, related knowledge and
attributes that allow an individual to successfully perform a
task or an activity within a specific function or job” (UNIDO,
2002).

4. Competency is composed of knowledge, skills,
abilities and other characteristics which underlie
effective or successful job performance;
These competency attributes are observable and
measurable; and These attributes distinguish
between superior and other performers.

5. ENTREPRENEURI
AL
COMPETENCIES
Competency is a bundle of skills and technologies that enables a company to
provide a particular benefit to stakeholders For example, At Sony – benefit is
pocketability core competence is miniaturization At Times of India – benefit is on time
delivery core competence is logistics management At Motorola–benefit is un
tethered(rope) communication core competence is wireless communication.
Basic business competency: understanding the organizational and business
processes of a firm.
MEANING: forms of business-related expertise

6. Determination competencies: skill 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

7. Resource
competencies:
the ability or skill of the
entrepreneur at finding expendable
components necessary to the
operation of the business Time
Information Location Financing
Raw materials
Entrepreneurial competency:
means the area of expertise, skills,
ability, efficiency, updated
technology regarding
organizational and business
processes of a firm.

8. TO BE CONSIDERED COMPETENCE A SKILL MUST MEET THREE
TESTS
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 power trains is a competence at
Honda which has never been so at Ford. Honda’s ability to produce some of the world’s best engines and
power trains does provide customers with highly valued benefits of superior fuel economy, zippy acceleration,
less noise and vibration.
Extendibility: A competitive is truly core when it focus the basis for entry into new product markets.
SKF, the world’s leading manufacturer of roller bearing has competencies in antification, precision
engineering and making perfectly spherical devices. In order to achieve extendibility, SKF must be capable of
manufacturing the round, high precision recording heads that go inside a VCR, most of which are now
manufactured by Japanese firms.

9. • IDENTIFICATION OF OPPORTUNITY Tools
1. Environment Scanning 2. SWOT Analysis
FACTORS IN IDENTIFICATION OF OPPORTUNITIES
• 1. Self Experience or Exp. of Pretense / family members.
• 2. Ready demand in local market
• 3. Imports banned or controlled
• 4. Competition of Medium & large enterprises
• 5. High profitability
• 6. Reservation
• 7. Incentive by Govt.
• 8. Marketing by Govt.

10. ASSESSMENT OF COMPETITION
1. Competitions 2. Market Share of competitors 3. Strength and
weakness of consumer, Image of competitor products-price
features. 4. Consumers’ Image towards competitors’ products /
services. 5. Trade practices of competitors-Discount to dealer.
6. Major customers of each brand.
MAKE OR BUY
1. Facilities. 2. Plant Capability – Equipment , Quality ,
Quantity , Personnel. 3. Economic Advantage. 4. Trade
relations. 5. Supplier Reliability 6. Trade Union Views. 7.
Alternative Resource Uses. 8. Legal Restrictions (Patents).

11. COMPETENCIES FOR ENTREPRENEURIAL
SUCCESS:
Major competencies that contribute towards top performance to entrepreneur
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 they take, particularly
when in difficult or challenging circumstances
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-judgement
Risk taking - 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 outcomes against his/her values 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 and preparation helps achieve desired results

12. Strategic Thinking - the entrepreneur understands and values the planning process, thinking and
planning over a significant timescale; recognizes external trends and opportunities; and is able to
think through any complex implications for the business
Commercial Aptitude - the entrepreneur keeps up to date with developments in the sector; seeks out best
practice; and identifies and seizes opportunities that are not obvious to others
Decisiveness - the entrepreneur resolves issues as they arise; does not get bogged down in analysis during decision
making; and responds flexibly to deal with changing priorities 8. Optimism - the entrepreneur persists in pursuing goals
despite obstacles and setbacks; operates from hope of success rather than from fear of failure; and sees setbacks as due
to manageable circumstance rather than a personal flaw
Customer Sensitivity - the entrepreneur builds trust and long term relationships with customers; generates an expectation of high level of
customer service; and regularly exceeds customer expectation 10. 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 considers the principles of inclusiveness in planning and dealing with others

13. THANKYOU