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CORE COMPETENCIES IN ENTREPRENEURSHIP

“The greatest discovery of my generation is that people can alter their lives by altering their attitudes”

ENTREPRENEURS are individuals who are alert to profitable opportunities for the exchange of goods and
services.

ENTREPRENEURIAL SKILLS AND COMPETENCIES

The entrepreneur as a Missionary who perceives opportunities inherent in the exchange of goods with great
desire for profit.
Entrepreneur is goal driven and self-confident as he exercises the locus of control.
The entrepreneur is a Marketing Man the marketing environment is identified by the entrepreneur and thus
he marshals his resources to pursue the opportunities and makes immediate actions to exploit his personal
gain.

THE MAKING OF AN ENTREPRENEUR

 The making of an entrepreneur is a dynamic process and an approach. As an approach, the
entrepreneur considers the business opportunity as a chance to find new ways to solve the problem
rather solving immediately the problem.
 A manager of an organization is characterized as an adapter while the character of an entrepreneur is
an innovator.
 The manager employs discipline and precise methodical approach in solving business problems while
an innovator entrepreneur approaches the problem on a different angle as he focuses on discovering
problems and make new avenues for its solutions.
 Entrepreneurship is a dynamic process of innovation and the creation of new opportunity for the
creation of new venture.

THE FACTORS THAT DEVELOP ENTREPRENEURIAL ACTIVITY

1. The entrepreneur takes the initiative
2. Organization of capital resources
3. The development of administrative machinery
4. The development of entrepreneurial autonomy
5. The development of SWOT analysis

PECULIAR CHARACTERISTICS OF MANAGERS IN SOLVING PROBLEMS

1. The manager develops system and procedure that are précised based on current practices in the
industry.
2. The manager is interested in solving organizational problems rather than finding other avenues in the
solution of the problems.
3. The manager is interested in the refinement of policies and procedure and tends to revise them to
solve existing problems.
4. The manager finds ways and means to solve problem and compliance to routine activities.
5. The manager is interested in details and is sensitive to group cohesion and extract group cooperation
as a means to group accomplishments.
CHARACTERISTICS OF INNOVATOR ENTREPRENEUR IN SOLVING PROBLEMS
1. He looks at the problem on different angles and finds means to circumvent the same.
2. He discovers the roots of the problem and develops avenues to better solve the problem. He
formulates solutions and alternatives.
3. He develops basic assumptions and hypothesis related to current practices and makes innovations
based on careful analysis though SWOT.
4. The innovator entrepreneur is interested in the end results rather than the means to achieve it. He has
little tolerance for details and routine work.
5. He capitalizes on people with bright ideas and talents and gets their opinion and consensus and with
little regards for people with mediocre ideas.

Prepared by: Mr. Ezekiel M. Tuscano, LPT