The entrepreneurial competencies are:
1. (E) possess people skills – Makes wise decisions toward the set objectives.
2. (K) Always looking for an opportunity to have/ earn income – Strategic in making and setting goals.
3. (H) Hardworking – Trusting in one's ability.
4. (A) Creative – Adaptable to change.
5. (J) Committed – Innovates to have an edge over other competitors.
6. (B) Profit-oriented – Solid dedication.
7. (C) Disciplined – Skillful in second keeping.
8. (I) Ability to accept change – Always sticks to the plan.
9. (D) Sound decision maker – Work diligently.
10. (F) Excellent planner – Effective and efficient communication skills and relates well to people.
Further explanation:
Hardworking: One of the most important qualities of a good entrepreneur is hard work. It means working diligently and consistently. Hardworking people are constantly improving their performance to make good products and provide good service.
Confident: Entrepreneurs are confident in their own skills and judgment. They display the confidence necessary to manage the risks involved in running their own company.
Disciplined: Successful businesspeople always follow their plan and resist the urge to do anything insignificant.
Committed: Good businesspeople take complete ownership of their enterprises. To ensure the business's success, they dedicate themselves fully.
Ability to accept change: Change is the only constant in life. Change happens often. Owning a business requires you to adapt to change and make it work for you. Make the most of progress.
Creative: To succeed in business and to gain an advantage over rivals, an entrepreneur needs to be inventive and creative.
Profit-oriented: An entrepreneur enters the business sphere in order to make money or receive greater revenue. Your main source of income will come from the company. As a result, you must ensure that the company can make money.
Excellent planner: Planning entails strategic thought and goal formulation to properly maximize all the resources at hand in order to attain objectives. A good businessperson creates plans and carefully executes the stages in those plans to achieve objectives. An effective businessperson is aware that planning is only useful when coupled with action.
Possesses people skills: This is a crucial ability required for success in any line of work. People skills are the ability to communicate effectively and efficiently and to build positive relationships with both internal and external stakeholders in your company. You must interact with individuals when conducting daily business. A strong interpersonal competence might be the difference between the company's success and failure.
Sound decision maker: Successful entrepreneurs have the ability to think quickly and make smart decisions toward a set of predetermined goals. No one can deny that the ability to make smart decisions is an important skill every entrepreneur should possess. Well-informed decisions should be based on given facts and information and lead to predetermined goals.
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