INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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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 function 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 goods
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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: -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-3: -Entrepreneurial role creativity, strong commitment and conceptual ability to seek, identify, assess and seize opportunities and transmute them into profitable outcome.