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By: Aparajita Bhattacharya

 Entrepreneurial Competencies include those clusters of attitudes and skills which an entrepreneur must inherently possess or acquire through training to be able to perform his job effectively.Introduction  Competency is the characteristic of a person which leads to effective and superior performance in a job. .

Entrepreneurial Competencies Entrepreneurial Competencies can be divided into four categories: Personal Characteristics Interpersonal Skills Critical and creative thinking skills Practical Skills .

Personal Characteristics  Initiative and Innovation  Perseverance and Resilience  Foresight  Self-Confidence .

.  Innovation is the development and application of new solutions that meet new or existing market needs.Initiative and Innovation  Initiative is the power or opportunity to act or take charge before others do.

or discouragement. . obstacles.  Resilience is the ability to recover quickly from failure or misfortune.Perseverance and Resilience  Perseverance is steady persistence in a course of action especially in spite of difficulties.

Foresight  The ability to predict or the action of predicting what will happen or be needed in the future. .  A good entrepreneur is able to fairly estimate the opportunities and threats that will come in future.

 Self-Reliance is reliance on one’s own resources and capabilities.Self -Confidence and Self-Reliance  Self Confidence is confidence in one’s own abilities. .  Successful entrepreneurs believe not only that they are capable of success but also believe that they are worthy of success.

Interpersonal Skills  Good Communication Skills  Leadership and Motivation  Concern for employee welfare  Emotional Intelligence .

Good Communication Skills  Communication is necessary for the establishment. survival and growth of any entrepreneurship.  Good communication skills include:  Good Speaker  Active listener  Emotional Intelligence .

Leadership and Motivation .

Critical and Creative thinking skills  Creative Thinking  Problem Solving .

Practical Skills  Knowledge and Intelligence  Planning and Organizing  Decision Making  Adaptability .

 An entrepreneur should be adaptable enough to change his strategies and policies as per changed conditions.Adaptability  Adaptability is the ability to alter oneself or one’s responses to changed circumstances and environment. .