INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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key characteristics possessed by a successful entrepreneur in performing entrepreneurial functions effectively
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the process that leads to the setting up of a business entity
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the step by step plan to achieve business goals
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entrepreneur skills in identifying new and potentially unique ideas to achieve his goals
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Detailed explanation-1: -Entrepreneurial competencies are defined as underlying characteristics possessed by a person, which result in new venture creation. These characteristics include generic and specific knowledge, motives, traits, self-images, social roles, and skills that may or may not be known to the person.
Detailed explanation-2: -What is entrepreneurial competency? Entrepreneurial competency is a set of skills and behaviour needed to create, develop, manage, and grow a business venture. It also includes the ability to handle the risks that come with running a business.
Detailed explanation-3: -Entrepreneurial competencies. refer to the important characteristics that should be possessed by an individual in order to perform entrepreneurial functions effectively.
Detailed explanation-4: -Personal competencies: creativity, determination, integrity, tenacity, emotional balance and self-criticism. Interpersonal competencies: communication, engagement/charisma, delegation, respect. Business competencies: business vision, resource management, networking, negotiating skills.
Detailed explanation-5: -Creative thinking. Creative thinkers revel in the freedom to come up with big ideas and to let those ideas percolate and bloom. Time management. Networking. Communication. 05-Apr-2019