Skills of Entrepreneurs PDF
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Uploaded by ThrilledGyrolite
Educating Éire
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Summary
This document outlines key skills for entrepreneurs, including planning, time management, risk management, human relations, decision-making, delegation, and problem-solving. The document emphasizes the importance of these skills in the context of business.
Full Transcript
1. Planning and Goal Setting (entrepreneurs set short term and long term goals or objectives, plans must be drawn up to achieve these objectives, when entrepreneurs are planning they usually carry out a SWOT analysis) 2. Time Management Skills (entrepreneurs make effective use of time, carrying o...
1. Planning and Goal Setting (entrepreneurs set short term and long term goals or objectives, plans must be drawn up to achieve these objectives, when entrepreneurs are planning they usually carry out a SWOT analysis) 2. Time Management Skills (entrepreneurs make effective use of time, carrying out tasks as quickly as possible in the time available, it involves prioritising tasks in order of importance and delegating tasks rather than micro-managing everything to maximise time efficiency) 3. Risk Management (a planned approach towards gathering as much information as possible about uncertain situations, minimizing risks and eliminating them where possible, once a risk is identified, it can then be managed correctly eg risk of fire minimised by taking out fire insurance) 4. Human Relations (enterprising people must be able to communicate and interact effectively with others, entrepreneurs must develop excellent human relations, networking and persuasion skills, must recognise the importance of a wide range of stakeholder contacts to provide guidance and support or actualise business opportunities) 5. Decision Making (entrepreneurs must be decisive, they must learn to analyse information and situations, think logically and make quick and clear decisions, they have to be able to evaluate alternatives and consequences of each possible choice and choose a definite course of action and stick with their decision) 6. Delegation (giving responsibility to subordinates to carry out certain tasks and giving them the authority to make decisions relevant to it, avoiding micromanaging as one person cannot do everything in business) 7. Problem Solving Skills (having the ability to decide how to resolve the different problems that may arise)
