10 Competencies for Entrepreneurial Success

Questions and Answers

Match the entrepreneurial competency with its description:

Integrity = A positive sense of values and personal beliefs, particularly in challenging situations Risk-taking = Anticipates future conflicts and knows how to solve problems in business organizations Decisiveness = Ability to make choices and resolve issues quickly Optimism = Thinking positively even when faced with unexpected problems

Match the entrepreneurial competency with its description:

Conceptual Thinking = Open to new approaches and analyzes ideas for significant improvements Collaboration = Working with people or groups to attain common goals and promote teamwork Strategic Thinking = Understanding and using strategies to accomplish goals in relevance to aims and objectives Commercial Aptitude = Being updated with developments in the locality and identifying business opportunities

Match the entrepreneurial competency with its description:

Customer Relations Service = Building trust and long-term relationships with customers People-centered = Motivating people and seeing and valuing the best in others

What is a key characteristic of an entrepreneur with the competency of integrity?

Having a positive sense of values Signup and view all the answers

Which competency involves an entrepreneur's ability to work with others towards common goals?

Collaboration Signup and view all the answers

What does an entrepreneur with strategic thinking understand and use to accomplish goals?

Strategies Signup and view all the answers

Which competency involves identifying opportunities based on local developments?

Commercial Aptitude Signup and view all the answers

What is the role of an entrepreneur's decisiveness in business?

Resolve issues quickly Signup and view all the answers

Why is customer relations service important for an entrepreneur?

To build trust and long-term relationships with customers Signup and view all the answers

Which competency focuses on an entrepreneur's ability to motivate and value the best in others?

People-centered Signup and view all the answers

Study Notes

Entrepreneurial Competencies

Integrity: Entrepreneurs with integrity possess a key characteristic of being honest, trustworthy, and ethical in their business dealings.

Collaboration and Teamwork

Teamwork: This competency involves an entrepreneur's ability to work with others towards common goals, fostering a collaborative environment.

Strategic Thinking

Strategic Thinking: An entrepreneur with strategic thinking understands and uses resources, such as information, skills, and networks, to accomplish goals.

Opportunity Identification

Opportunity Identification: This competency involves identifying opportunities based on local developments, such as emerging trends, needs, and market gaps.

Decisiveness

Decisiveness: An entrepreneur's decisiveness plays a crucial role in business, enabling them to make timely and informed decisions that drive progress.

Customer Relations

Customer Relations: Customer relations service is important for an entrepreneur because it helps build strong relationships, ensures customer satisfaction, and fosters loyalty.

Leadership

Leadership: This competency focuses on an entrepreneur's ability to motivate and value the best in others, inspiring a high-performing team that drives business success.