Common And Core Competencies

Common and Core Competencies Entrepreneurship Kassandra Kay K. De Roxas

Entrepreneurial Self-Assessment Survey

 The following list describes some common characteristics of an entrepreneur. The number(s) after each characteristic indicates the related statement(s) in the assessment form. This list interprets the form qualitatively.  Note that arriving at a conclusive portrait of a typical entrepreneur is very difficult. Therefore, you may score low on the assessment and still succeed as an entrepreneur.

Entrepreneurial Self-Assessment Survey 1. 2. 3. 4. 5. 6. 7. 8.

Works Hard (1 & 8) Wants Financial Success (6) Has Family Support (2) Is Energetic (1 & 8) Has an Internal "Locus of Control', (10) Takes Risks (3) Sacrifices Employment Benefits (4) Has a Need to Achieve (Statements 7 & 11)

Entrepreneurial Self-Assessment Survey 9. Has Business Experience (12) 10. Is Independent (5 & 9) 11. Has a Self-employed Parent as a Role Model (14) 12. Has Self-confidence (10,15, and 18) 13. Has Integrity (16) 14. Has Determination (17) 15. Adapts to Change (13 and 19) 16. Has a Good Network of Professionals (20)

Entrepreneurial Self-Assessment Survey

 The following list describes some common characteristics of an entrepreneur. The number(s) after each characteristic indicates the related statement(s) in the assessment form. This list interprets the form qualitatively.  Note that arriving at a conclusive portrait of a typical entrepreneur is very difficult. Therefore, you may score low on the assessment and still succeed as an entrepreneur.

Rank them Down Agents of Change Networkers Balanced Proactive Decisive Sociable Innovative Risk Takers Have a Sharp Eye for Opportunities

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“ Entrepreneurial Common and Core Competencies

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Entrepreneurial Common Competencies 1. 2. 3. 4.

Proactive Agents of Change Risk Takers Have a Sharp Eye for Opportunities 1. Sociable

6. 7. 8. 9.

Networkers Decisive Balanced Innovative

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Entrepreneurial Common Competencies

Entrepreneurs do not just grab opportunities left at right; they have to take into considerations the potential various

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Entrepreneurial Common Competencies RISK TAKERS  Entrepreneurs will not be successful if they do not take risks.  Entrepreneurs do not just grab opportunities left at right; they have to take into considerations the potential various threats they may encounter.

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Entrepreneurial Common Competencies RISK TAKERS  Entrepreneurs calculate risks; if they think that there is a big chance of succeeding, they push through with the venture and don’t let the opportunity pass.

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Entrepreneurial Common Competencies

Soft skills are one of the most important competencies of entrepreneurs as these establish the relationship with

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Entrepreneurial Common Competencies SOCIABLE  Soft skills are one of the most important competencies of entrepreneurs as these establish the relationship with the most important assets of the company – employees and company.

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Entrepreneurial Common Competencies SOCIABLE  Relationship management is the key for employee and customer retention, which can be achieved by a sociable entrepreneur.

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Entrepreneurial Common Competencies

They do not stop improving and thinking of new and worthwhile ideas for their

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Entrepreneurial Common Competencies INNOVATIVE  The minds of entrepreneurs are rich with big ideas that can add value to their existing business or could become a game changer in the industry or business where they belong.

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Entrepreneurial Common Competencies INNOVATIVE  They do not stop improving and thinking of new and worthwhile ideas for their business.

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Entrepreneurial Common Competencies

They address issues, problems and challenges before they come rather than when they already happened. 18

Entrepreneurial Common Competencies PROACTIVE  They address issues, problems and challenges before they come rather than when they already happened.  They ensure that proper research is done, the risk factors are assessed and plans are executed on a timely and most efficient way. 19

Entrepreneurial Common Competencies

There must be yes and no in making decision, not in the middle. 20

Entrepreneurial Common Competencies DECISIVE  Entrepreneurs always have decision about their business. They do not settle for gray areas or unclear solutions  They make sure that all aspects of their business have clear objectives and strategies.

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Entrepreneurial Common Competencies DECISIVE  Entrepreneurs need to be comfortable in making any decision and taking decisive action.  A successful entrepreneur has to stand by them no matter what happen and decisive actions are really needed by that time.

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Entrepreneurial Common Competencies

Entrepreneurs always have “eureka” moments and enjoy them. 23

Entrepreneurial Common Competencies BALANCED  The minds of entrepreneurs should have a balance between the analytical and the creative side.  The brains are always playing with “unique ideas” that no one has ever though of yet.

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Entrepreneurial Common Competencies BALANCED Entrepreneurs always have “eureka” moments and enjoy them.

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Entrepreneurial Common Competencies

Entrepreneurs are drivers of innovation. 26

Entrepreneurial Common Competencies

A G E N TS O F C HANGE  They see opportunities in hopeless and complex situations.  They are always motivated to improved and develop new products and services and introduce them to the market.  They don’t settle for mediocrity and the status quo.

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Entrepreneurial Common Competencies

Entrepreneurs know key people to connect with. 28

Entrepreneurial Common Competencies NETWORKERS  A networker knows the key people to connect with.  Networking can be very intimidating task, for it takes a lot of guts to pull it off.  Successful entrepreneurs gain trust of their valuable network and maintain a long-tasting relationship with them. 29

Entrepreneurial Common Competencies

Entrepreneurs have a talent for recognizing an opportunity even using the macro level data only. 30

Entrepreneurial Common Competencies HAVE A SHARP EYE FOR OPPORTUNITIES Entrepreneurs have a talent for recognizing an opportunity even using the macro level data only.  They know how to assess the net cause and effect of an opportunity and decide intelligently if a venture should be considered or not. 

Entrepreneurial Common Competencies 1. 2. 3. 4.

Proactive Agents of Change Risk Takers Have a Sharp Eye for Opportunities 1. Sociable

6. 7. 8. 9.

Networkers Decisive Balanced Innovative

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Entrepreneurial Core Competencies 1. 2. 3. 4.

Leaders Communicators Specialists Problem Solvers

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Entrepreneurial Core Competencies 1. L E A D E R S - Successful leaders have the heart of a leader. - They must be a source of inspiration for their employees. - humble, approachable, friendly and knows how to listen to people’s concerns

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Entrepreneurial Core Competencies 1. L E A D E R S (continued) - Act on their responsibilities - Use their strengths and limitations to make the best of a situation - Decisive and know how to own up to their decisions - Know how to unite team and bring out the best in every emplyee 35

Entrepreneurial Core Competencies 2. C O M M U N I C A T O R S - Entrepreneurs know how to use all forms of communication to effectively share ideas and address certain concerns with their customers or employees.

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Entrepreneurial Core Competencies 2. C O M M U N I C A T O R S (continued) - Effective communication not only provides people with a clear view of what the business offers, they also help prevent mishaps in an organization.

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Entrepreneurial Core Competencies 3. S P E C I A L I S T S - Entrepreneurs are experts in their chosen business. - They are tactical and are very keen with details. - When asked about the specifics of their product or service, they can easily answer without heavily relying with their people. 38

Entrepreneurial Core Competencies 3. S P E C I A L I S T S (continued) - They understand the totality and specificity of their business. - As a result, they can easily think of innovating and improving the product or service offerings because they know their intricacies. - Enjoy being in action instead of being behind the scenes. 39

Entrepreneurial Core Competencies

4. P R O B L E M S O L V E R S - Entrepreneurs possess critical thinking skills and look at problems as challenges or puzzles that they need to solve. - They know how to handle issues in any area of the business, be it in finance, operations or marketing.

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Entrepreneurial Core Competencies 4. P R O B L E M S O L V E R S (continued) - Listen to the plight of employees on certain problems involving their units and come up with strategic solutions. - Able to solve problems by immersing in day-to-day activities, knowing what is happening in and out of their business. 41

Entrepreneurial Core Competencies 4. P R O B L E M S O L V E R S (continued) - Aware of their employees’ personalities; they must know how and when to use them to solve problems - Must have faith that every problem has a solution no matter how hard it is - Must be courageous and know how to face the consequences of their decision. 42