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Personal entrepreneurial Competencies Essay Sample

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Personal entrepreneurial Competencies Essay Sample

1. Initiative

The entrepreneur should be able to take actions that go beyond his job requirements and to act faster. He is always ahead of others and able to become a leader in the field of business. Examples
Does things before being asked or compelled by the situation. Acts to extend the business into new areas, products or services

2. Sees and acts on opportunities
An entrepreneur always looks for and takes action on opportunities. Examples
Sees and acts on new business opportunities
Seizes unusual opportunities to obtain financing, equipment, land, work space or assistance

3. Persistence
An entrepreneur is able to make repeated efforts or to take different actions to overcome an obstacle that get in the way of reaching goals. Examples
Takes repeated or different actions to overcome an obstacle
Takes action in the face of a significant obstacle

4. Information Seeking
An entrepreneur is able to take action on how to seek information to help achieve business objectives or clarify business problems. Examples
Does personal research on how to provide a product or service Consults experts or experienced persons to get relevant information Seeks information or asks questions to clarify a client’s or a supplier’s need Personally undertakes market research, analysis or investigation Uses contacts or information networks to obtain useful information

5. Concern for High Quality of Work

An entrepreneur acts to do things that meet certain standards of excellence which gives him greater satisfaction. Examples
States a desire to produce or sell a top or better quality product or service Compares own work or own company’s work favorably to that of others 6. Commitment to Work Contract
An entrepreneur places the highest priority on getting a job completed.
Examples
Makes personal sacrifice or expends extraordinary effort to complete a job Accepts full responsibility for problems in completing a job for customers Pitches in with workers or works in their place to get the job done Expresses a concern for satisfying the customer

7. Efficiency Orientation
A successful entrepreneur always finds ways to do things faster or with fewer resources or at a lower cost. Examples
Looks for or finds ways to do things faster or at less cost
Uses information or business tools to improve efficiency
Expresses concern about costs vs. benefits of some improvement, change, or course of action

8. Systematic Planning
An entrepreneur develops and uses logical, step-by-step plans to reach goals. Examples
Plans by breaking a large task down into sub-tasks
Develops plans that anticipate obstacles
Evaluate alternatives
Takes a logical and systematic approach to activities

9. Problem Solving
Successful entrepreneur identifies new and potentially unique ideas to achieve his goals. Example
Switches to an alternative strategy to reach a goal
Generates new ideas or innovative solutions

10. Self-Confidence
A successful entrepreneur has a strong belief in self and own abilities. Examples
Expresses confidence in own ability to complete a task or meet a challenge Sticks with own judgment in the face of opposition or early lack of success

11. Assertiveness
An entrepreneur confronts problems and issues with others directly. Examples
Confronts problems with others directly
Tells others what they have to do
Reprimands or disciplines those failing to perform as expected

12. Persuasion
An entrepreneur can successfully persuade or influence others for mobilizing
resources, obtaining inputs, organizing productions and selling his products or services. Examples
Convinces someone to buy a product or service
Convinces someone to provide financing
Convinces someone to do something else that he would like that person to do Asserts own competence, reliability, or other personal or company qualities Asserts strong confidence in own company’s products or services

13. Use of Influence Strategies
An entrepreneur is able to make use of influential people to reach his business goals. Examples
Acts to develop business contracts
Uses influential people as agents to accomplish own objectives Selectively limits the information given to others
Uses a strategy to influence or persuade others

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