Entrepreneurial Competencies Alagappa University

8/6/2019 Entrepreneurial Competencies Alagappa University

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Entrepreneurial Competencies

Presentation by:Presentation by:Dr. R. JayaramanDr. R. Jayaraman

Professor and HeadProfessor and Head

Department of Entrepreneurship StudiesDepartment of Entrepreneurship Studies

Madurai Kamaraj UniversityMadurai Kamaraj University

Faculty Development Programme in

Entrepreneurship

Alagappa University, Karaikudi


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Important IssuesImportant Issues

EntrepreneurEntrepreneur

EntrepreneurshipEntrepreneurship

Enterprise DevelopmentEnterprise Development

Entrepreneurial CompetenciesEntrepreneurial Competencies


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Who is an Entrepreneur?Who is an Entrepreneur?

Confid nt of lf nd nvironmentConfident of elf nd environment

Creates wealtCreates wealt

evelopsownershipof the givenevelopsownershipof the givenactivityactivity

Faces theproblem / str ggleFaces theproblem / str ggle

Discoversanopport nity inaproblemDiscoversanopport nity inaproblem

Dist rbs theequilibriumDisturbs theequilibrium


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What is Entrepreneurship?What is Entrepreneurship?

Entrepreneurship is not an activitEntrepreneurship is not an activitbut a state ofmin .but a state ofmin .

Entrepreneurship to be inculcate asEntrepreneurship to be inculcate asa culture.a culture.

Entrepreneurship is o nershipEntrepreneurship is o nership

The purpose of trainin is to brin theThe purpose of trainin is to brin thebest out of the in ivi ualbest out of the in ivi ual


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How to encourage entrepreneurs?How to encourage entrepreneurs?

Openness to ne i eas, free omOpenness to ne i eas, free omfrom investi ation ofoperation, anfrom investi ation ofoperation, an

promotion an pa base on meritpromotion an pa base on meritencoura e entrepreneurship.encoura e entrepreneurship.

Excessive re ulation, ri i hierarch ,Excessive re ulation, ri i hierarch ,

lack offree om, an excesslack offree om, an excess controlcontrol

iscoura e entrepreneurship.iscoura e entrepreneurship.


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Entrepreneurship and societyEntrepreneurship and society

ToTo encoura eencoura e entrepreneurship,entrepreneurship, societsocietshoulshoul toleratetolerate failurefailure anan iveive peoplepeople aaseconsecon chancechance..

Obviousl ,Obviousl , peoplepeople neenee toto papa forfor theirtheirmistakes,mistakes, butbut ifif thethe pa mentpa ment isis tootoo hi h,hi h,peoplepeople illill notnot bebe arinarin oror taketake risksrisks..

EffectiveEffective s stems stem isis essentialessential toto encoura eencoura epositivepositive entrepreneurshipentrepreneurship


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Enterprise DevelopmentEnterprise Development -- DimensionsDimensions

The commercial entrepreneurs areThe commercial entrepreneurs areencoura e to establish businessencoura e to establish businessenterprisesenterprises

Social entrepreneurs are encoura eSocial entrepreneurs are encoura eto establish social enterprises.to establish social enterprises.

IntraIntra--preneurs are encoura e topreneurs are encoura e toestablish cre ibilit , trust orthinessestablish cre ibilit , trust orthinessan acceptance.an acceptance.


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What are Entrepreneurial Competencies?What are Entrepreneurial Competencies?

InitiativeInitiative

Sees and Acts on OpportunitiesSees and Acts on Opportunities

PersistencePersistence

Information SeekingInformation Seeking

Concern for high Quality of WorkConcern for high Quality of Work

Commitment to Work ContractCommitment to Work Contract

Efficiency OrientationEfficiency OrientationSystematic PlanningSystematic Planning


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Entrepreneurial CompetenciesEntrepreneurial Competencies (Contd.)(Contd.)

Problem SolvingProblem Solving

SelfSelf--confidenceconfidence

AssertivenessAssertivenessPersuasionPersuasion

Use of influence StrategiesUse of influence Strategies

MonitoringMonitoringConcern for Employee WelfareConcern for Employee Welfare

Risk TakingRisk Taking


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InitiativeInitiative

TakesTakes actionaction thatthat oo be onbe on jobjobrequirementsrequirements oror thethe emaneman ofof thethesituationsituation

Does thin s before bein aske orDoes thin s before bein aske orforce to b events.force to b events.

Acts to exten the business into neActs to exten the business into neareas, pro ucts or servicesareas, pro ucts or services


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Sees and Acts on OpportunitiesSees and Acts on Opportunities

LooksLooks forfor anan takestakes actionaction ononopportunitiesopportunities

Sees an acts on opportunitiesSees an acts on opportunities(Business, E ucational or Personal(Business, E ucational or PersonalGro th)Gro th)

Seizes unusual opportunities toSeizes unusual opportunities toobtain financin equipment, lanobtain financin equipment, lan

ork, space, or assistance.ork, space, or assistance.


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PersistencePersistence

Takes repeate or ifferent actionsTakes repeate or ifferent actionsto overcome obstacleto overcome obstacle

Takes repeate or ifferent actionsTakes repeate or ifferent actionsto overcome obstacle.to overcome obstacle.

Takes action in the face ofaTakes action in the face ofasi nificant obstacle.si nificant obstacle.


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Information SeekingInformation Seeking

Takes action on o n to et information toTakes action on o n to et information tohelp reach objectives or clarify problemshelp reach objectives or clarify problems

Does personal research on ho to provi eDoes personal research on ho to provi ea pro uct or service.a pro uct or service.Seeks information or asks questions toSeeks information or asks questions toclarify hat is ante or nee e .clarify hat is ante or nee e .Personally un ertakes research, analysisPersonally un ertakes research, analysisor investi ation.or investi ation.Uses contacts or information net orks toUses contacts or information net orks toobtain useful information.obtain useful information.


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Concern for high Quality of WorkConcern for high Quality of Work

Acts to o thin s that meet or beatActs to o thin s that meet or beatexistin stan ar s ofexcellenceexistin stan ar s ofexcellence

States a esire to pro uce ork hi hStates a esire to pro uce ork hi hquality.quality.

Compares o n ork or o nCompares o n ork or o ncompany's ork favorably to that ofcompany's ork favorably to that ofothers.others.


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Commitment to Work ContractCommitment to Work Contract

Places the hi hest priority or ettin a jobPlaces the hi hest priority or ettin a jobcompletecomplete

Makes a personal sacrifice or expan sMakes a personal sacrifice or expan s

extraor inary effort to complete a job.extraor inary effort to complete a job.

Accepts full responsibilityfor problems inAccepts full responsibilityfor problems incompletin a job for others.completin a job for others.

Pitches in ith orkers or orks in theirPitches in ith orkers or orks in theirplace to et the job one.place to et the job one.

Expresses a concern for satisfyin theExpresses a concern for satisfyin thecustomercustomer


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Efficiency OrientationEfficiency Orientation

Fin s ays to o thin s faster orFin s ays to o thin s faster orith fe er resources or at a lo erith fe er resources or at a lo er

costcost

Looks for or fin s ay to o thin sLooks for or fin s ay to o thin sfaster or at less cost.faster or at less cost.

Uses information or business tools toUses information or business tools toimprove efficiency.improve efficiency.


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Systematic PlanningSystematic Planning

Develops an uses the lo ical, stepDevelops an uses the lo ical, step--byby--step plans to reach oalsstep plans to reach oals

Plans by breakin a lar e task o nPlans by breakin a lar e task o ninto subinto sub--tasks.tasks.

Develops plans that anticipateDevelops plans that anticipateobstaclesobstacles

Evaluates alternatives.Evaluates alternatives.

Takes a lo ical an systematicTakes a lo ical an systematicapproach to activities.approach to activities.


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Problem SolvingProblem Solving

I entifies ne an potentially uniqueI entifies ne an potentially uniquei eas to reach oals.i eas to reach oals.

Stitches to an alternative strate y toStitches to an alternative strate y toreach a oal.reach a oal.

Generate ne i eas or innovative toGenerate ne i eas or innovative toreach a oal.reach a oal.


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SelfSelf--confidenceconfidence

Has a stron belief in selfan o nHas a stron belief in selfan o nabilitiesabilities

Express confi ence in o n ability toExpress confi ence in o n ability tocomplete a task or meet a challen e.complete a task or meet a challen e.

Sticks ith o n ju ment in the faceSticks ith o n ju ment in the faceor opposition or early lack ofor opposition or early lack ofsuccess.success.

Does somethin that he says is risky.Does somethin that he says is risky.


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AssertivenessAssertiveness

Confronts problems an issues ithConfronts problems an issues ithothers irectlyothers irectly

Confronts problems ith othersConfronts problems ith othersirectly.irectly.

Tells others hat they have to oTells others hat they have to oRepriman s or isciplines thoseRepriman s or isciplines thosefailin to perform as expecte .failin to perform as expecte .


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PersuasionPersuasion

Successfully persua es othersSuccessfully persua es others

Convinces someone to buy a pro uct orConvinces someone to buy a pro uct orservice.service.

Convinces someone to provi e financin .Convinces someone to provi e financin .

Convinces someone to o somethin elseConvinces someone to o somethin elsethat he oul like that person to o.that he oul like that person to o.

Asserts o n competence, reliability orAsserts o n competence, reliability orother personal or company's qualities.other personal or company's qualities.

Asserts stron confi ence in o nAsserts stron confi ence in o ncompany's or or anization's pro ucts orcompany's or or anization's pro ucts or

services.services.


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Use of influence StrategiesUse of influence Strategies

Acts to evelop business contactsActs to evelop business contacts

Uses influential people as a ents toUses influential people as a ents to

accomplish o n objectives.accomplish o n objectives.Selectively limits the informationSelectively limits the informationiven to others.iven to others.

User a strate y to influence orUser a strate y to influence orpersua e others.persua e others.


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MonitoringMonitoring

Develops or uses proce ures toDevelops or uses proce ures toensure that ork is complete orensure that ork is complete orthat ork ets stan ar s or qualitythat ork ets stan ar s or quality

Personality supervises all aspects ofPersonality supervises all aspects ofa project.a project.


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Concern for Employee WelfareConcern for Employee Welfare

Takes action to improve the elfareTakes action to improve the elfareofemployeesofemployees

Takes positive action in response toTakes positive action in response toEmployees Personal Concerns.Employees Personal Concerns.

Expresses concern about the elfareExpresses concern about the elfareofemployees.ofemployees.


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Risk TakingRisk Taking

For a commercial entrepreneurFor a commercial entrepreneur, risk is, risk ismeasure in terms ofmoney.measure in terms ofmoney.

ForFor IntraIntra--preneurpreneur anan socialsocial entrepreneurentrepreneur,,riskrisk isis measuremeasure inin termsterms ofof cre ibility,cre ibility,epen ability,epen ability, etcetc..

Therefore,Therefore, EntrepreneursEntrepreneurs shoulshoul taketakeaffor ableaffor able riskrisk..


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Entrepreneurial Competencies Alagappa University