21965368 Entrepreneurial Competencies 2

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Entrepreneurial Competencies

Mohamed Dahlan Ibrahim, Ph.D

Associate Professor


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ETR 300 DR. DAHLAN 3

Entrepreneurial Competencies

01. Initiative

02. Sees and acts on

opportunities 03. Persistence

04. Information seeking

05. Concern for high

quality of work 06.Commitment to work

contract

07. Efficiency orientation

08. Systematic planning

09. Problem solving

10. Self-confidence

11. Assertiveness

12. Persuasion 13. Use of influence

strategies


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1. Initiative

The entrepreneur should be able to take actionsthat go beyond his job requirements and to act

faster. He is always ahead of others and able tolead the business or industry.

Examples:

Does things before being asked or compelled by thesituation

Acts to extend the business into new areas,products or services


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2. Sees and acts on opportunities

An entrepreneur always search for and takes

action on opportunities

Examples:

Sees and acts on new business opportunities

Seizes unusual opportunities to obtain financing,

equipment, land, workspace or assistance


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3. Persistence

An entrepreneur is able to make repeated efforts

or to take different actions to overcome an

obstacle that gets in the way of reaching his/hergoals.

Examples:

Takes repeated or different course of action toovercome a problem or obstacle

Never give-up easily


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4. Information seeking

An entrepreneur is able to take action on how to getinformation in order to help the business to achieve itsobjectives or to solve business problems

Examples:Conduct personal research on a product or service

Consults experts or relevant authorities to get relevantinformation

Personally undertakes market research, analysis orinvestigation

Uses contacts or information networks to obtain usefulinformation



5. Concern for high quality of

work

An entrepreneur acts to do things that meet a certainstandard of excellence which gives him greatersatisfaction

Examples:States a desire to produce or sell a top or better qualityproduct or service

Compares own work or own companys work favorably to thatof competitors

High quality would ensure repeated purchase from existingcustomers and also an opportunity to get new customers



6. Commitment to work contract

An entrepreneur places the highest priority on getting a

job completed according to the deadline.

Examples:Makes personal sacrifices or expends extra ordinary effort to

complete a job

Accepts full responsibility for problems in completing a job for

customersExpresses a concern for satisfying the customer



7. Efficiency orientation

A successful entrepreneur always finds ways to do

things faster, using fewer resources, and keep cost low.

Examples:Looks for or finds ways to do things faster or at lesser cost

Uses information or business management tools to improve

efficiency

Expresses concern about costs vs. benefits derives from anyimprovement, change or course of action



8. Systematic planning

An entrepreneur develops and uses logical, step-by-

step plans to reach his/her business goals

Examples:Plans by breaking a large task down into smaller tasks

Develops alternative plans which anticipate obstacles

Evaluate among available alternatives

Takes a logical and systematic approach in the planning

activities



9. Problem solving

A successful entrepreneur identifies new and

potentially unique solution to solve business

problems which could affect the businessobjectives.

Examples:

Switches to an alternative strategy to overcomeproblems

Always generates new ideas or innovative solutions


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10. Self-confidence

A successful entrepreneur has a strong belief in

oneself and own abilities.

Examples:

Expresses confidence in own ability to complete a

task or meet a challenge

Sticks with own judgment in the face of opposition orlack of success


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11. Assertiveness

An entrepreneur confronts problems and issues

with others directly.

Examples:

Confronts problems with others directly

Tells subordinates what is expected of them

Reprimands or disciplines those who failed toperform as expected


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12. Persuasion

An entrepreneur should be able to persuade orinfluence others for mobilizing resources, obtaininginputs, organizing productions and selling of hisproducts or services.

Examples:Convince someone to buy a product

Convince someone to provide financing

Asserts own competence, reliability or other personal orcompany qualities (testimony)

Asserts strong confidence in own companys products orservices


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13. Use of influence strategies

An entrepreneur is able to make use of influential

people to reach his business goals.

Examples:Acts to develop business contacts

Uses influential people as agents to accomplish own

objectives (getting contracts)

Selectively limits the information given to others

Uses permissible strategy to influence or persuade others

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21965368 Entrepreneurial Competencies 2