This document discusses personal entrepreneurial competencies and product development. It provides an overview of the key qualities of successful entrepreneurs, including seeing opportunities, managing risk, goal-setting, and problem-solving. It then outlines the steps involved in product development, which include identifying customer needs, establishing target specifications, analyzing competitors, generating product concepts, selecting and refining a concept, performing an economic analysis, and planning remaining development. The overall process focuses on innovating to meet customer needs and wants.