SKILLS AND CORE

COMPETENCIES IN
ENTREPRENEURSHIP
Learning Objectives:
At the end of the lesson the students are
able to:
1.Identify the entrepreneurial skills and
2.Discuss the concept of core
competencies in the practice of
entrepreneurship
3.Explain the significant entrepreneurial
core competency.
Entrepreneurial Skills
 Skills

a personal abilities that come from

the totality of the knowledge, practice
or experience, and aptitude of a person.
 Skills are acquired and developed
by a person through constant and
correct practice
What kind of skills should be acquired
and developed in a deliberate and
systematic fashion by a person who has
an intense desire of becoming a
successful entrepreneur?
The answer is simple ---

Entrepreneurial
skills.
Entrepreneurial Skills
refer to the set of
1. Cognitive Skills
2. Technical skills
3. Interpersonal Skills
required in the practice of entrepreneurship.

SKILLSAND CORE COMPETENCIES IN

ENTREPRENEURSHIP
Cognitive Skills
referto the mental ability of the
entrepreneur to learn new things,
generate new ideas, and express
knowledge in both oral and written
forms.
The cognitive skills of an entrepreneur include the
following:

Ability to understand written materials

Ability to learn and apply new information
Ability to solve problems systematically
Ability to create new ideas
Ability to innovate new products and
procedures or methods
The scientific approach in solving
business problems involves:
1. Defining the real problem,
2. Gathering information about the
problem,
3. Formulating alternative solutions,
4. Evaluating alternative solutions,
5. Selecting and implementing the optimal
solution, and
6. Evaluating the decision.
Technical Skills
This skills relate to their knowledge
and proficiency in a specialized field
like computer technology,
accounting, marketing, operations
research, engineering, medical
fields, or other related technical
fields.
The technical skills of an entrepreneur include
proficiency and ability among others, in the
following areas.

Information technology
Feasibility study and business plan
preparation.
Technical and writing skills
Marketing
Management and finance
Technical Education and Skills
Development Authority (TESDA)
That will attest to their proficiency
and skill in their particular fields of
specialization. The technical skills
focus mainly on the mechanical or
practical aspect of a person rather
than his/her abstract or theoretical
thinking.
Interpersonal Skills
Are basically about the
relationship and interaction
of the entrepreneur with the
workers, supplier, creditors,
prospective customers, and
other members of the
business community.
The interpersonal skills of an
entrepreneur may include, among others,
Skills in verbal communication
Skills in non-verbal
communication
Skills in listening
Skills in leading
Skills in negotiating
Entrepreneurial Core
Competency
Isa combination of entrepreneurial
concept and principles,
entrepreneurial character traits, and
entrepreneurial skills that provide and
become the ultimate source of
competitive advantage of the
entrepreneur.
Figure 2.2.6 The entrepreneurial competency
ENTREPRENE
URIAL ENTREPREN
CONCEPTS EURIAL
AND CHARACTER
PRINCIPLE TRAITS
ENTREPRE
NEURIAL
SKILLS
The competitive advantage
refer to the strategic position and condition
of the entrepreneurial venture that
Provide the necessary attribute to outperform
competitors
Distinguishes the venture from competitors
Achieves superior performance in the industry
Produce a product or develop production
methods that can hardly be copied by
competitors.
 Fig2.2.8 TOTAL PERSPECTIVE OF SUCCESSFUL ENTREPRENEURSHIP
FULLY EQUIPPED WITH ACQUIRES,DEVELOPS,&
UNDERSTANDS CHARACTER TRAITS SHARPEN
ENTREPRENEURIAL
ENTREPRENEURIAL COMMON AMONG SKILLS(COGNITIVE,TECHNI
CONCEPT & SUCCESSFUL CAL&INTERPERSONAL
PRINCIPLE ENTREPRENEUR SKILLS)

CORE COMPETENCIES DEFINING COMPETITIVE ADVANTAGE

ENTREPRENEUR
STRATEGIC
SUPPORT