Personal entrepreneurial competencies are a set of qualities that aid in outlining the attitudes and traits of an entrepreneur (Alusen, 2016). It (What?) assesses an individual’s personal entrepreneurial competencies as it helps in identifying one’s strengths and weaknesses, which helps in designing a plan to combat the weaknesses and developing strengths to deliver ‘the excellency as expected.
Developing knowledge competencies help entrepreneurs to interact with clients beneficially. Using the knowledge in the right manner aids in running the business effectively, minimizing risks, and exploiting opportunities to the full. Goal seeking is one of the competencies. It is vital since it enables action planning and decision-making based on what to achieve. Secondly, goal-seeking aids in setting measurable and clear specific long-range objectives and short-term goals. Is goal-seeking the second competency?. Consequently, seeking opportunities aids in seizing opportunities without being asked or forced by unexpected events.
Entrepreneurial attitude also affects entrepreneurs’ behaviors. Hence, an entrepreneurial mindset is the degree of positivity an entrepreneur has towards the idea of becoming an entrepreneur (Kume et al., 2013). Without the attitudes, it can be a challenge for any business to grow. For instance, passion drives entrepreneurs to stay in business even if they face challenges. Most entrepreneurs are problem solvers, and to derive pleasure in solving problems, one needs to make his work his passion. Furthermore, they should exhibit determination, as they have their work done or solve problems, rather than doing nothing. Therefore, determination drives an entrepreneur to work, hence making them goal-oriented. Strong work ethics are essential for an entrepreneur as they develop businesses from scratch, and hard work leads to the growth of the company. In achieving the objectives of the business, entrepreneurs need a strong work ethic and commitment.
Skills play a vital role in an entrepreneur’s life as they help in anticipating needs and bringing favorable new ideas to the market. Portraying self-confidence helps the entrepreneurs to trust their own skills and embrace their own perfection. Through communication, an entrepreneur can strike deals with stakeholders. On the other hand, the ability to learn helps entrepreneurs expand their knowledge regarding their failures as they face various challenges.
Determining Resiliency of my Competencies
Knowledge-based competencies through goal-seeking is where I will set goals and objectives that are meaningful and challenging. I need to plan every action and carefully make decisions. I have to learn my customer base and the market structure. The reality is that I will be facing challenges. Besides, to determine the resiliency of entrepreneurial attitude, I will revise my plans in light of feedback on performance. Passions, determination, and work ethics will enable me to face my work with a determined mind as the driving factors of the attitudes.
Consequently, having a base of entrepreneurial skills such as self-confidence will make me be self-solid complete my task easier since I will have self-awareness and faith to accomplish my work. Therefore, the driving force of skills is a business strategy, selling skills, and communication. Facing my clients on a daily basis requires me to develop effective communication skills, as well as face my competitors.
Conclusion
In conclusion, knowledge, personal attitudes, and skills influence personal entrepreneurial competencies. Knowledge competencies such as opportunity-seeking are vital for developing an action plan. On the other hand, attitude aids an entrepreneur in developing passion and determination towards his work. Concurrently, skills are critical for any entrepreneur as it is the driving force of entrepreneurship. Therefore, entrepreneurs need to develop practical communication skills to negotiate with clients and stakeholders.
References
Alusen, M. L. V. (2016). Personal Entrepreneurial Competencies of LPULaguna BSBA Graduating Students: Basis for Curriculum Enhancement // LPU – Laguna Journal of Multidisciplinary Research. Vol. 4, No. 4, pp. 92–105
Kume, A., Kume, V., & Shahini, B. (2013). Entrepreneurial characteristics amongst university students in Albania. European Scientific Journal, 9(16).
write