Eleven Entrepreneurial Competencies

Question 1

Entrepreneurs must know how to determine the state to which a person agreed that their actions can directly affect a situation, or that they can control a result.

Answer 1

Locus of control

Question 2

Entrepreneurs should be motivated to set goals, particularly business growth objectives. Set goals of all types have repeatedly been found to lead to greater performance and highlight the importance of setting goals that are specific, measurable, attainable, realistic, and time-bound.

Answer 2

Specific Goal Setting

Question 3

Entrepreneurs must believe in their own abilities or self-confidence.

Answer 3

Self-Efficacy

Question 4

Entrepreneurs should know the group of attributes, some of which are applicable to all entrepreneurs while others are occupation industry specific

Answer 4

Layers of Competency

Question 5

Entrepreneurs must have a high need for achievement and take responsibility for outcomes. Engage in activities that have a moderate degree of consequences and require skill and effort.

Answer 5

Need for Achievement

Question 6

Entrepreneurs must be motivated, persistent, and persevere even in the face of situational challenges.

Answer 6

Ambition

Question 7

Entrepreneurs should have a strong willingness to learn and often pursue opportunities to acquire new skills and competencies

Answer 7

Willingness to Learn

Question 8

Entrepreneurs who have high initiative are often driven to work hard. They frequently work independently to achieve mastery of the task, regardless of the extra effort necessary to do so.

Answer 8

Strong Initiative

Question 9

Entrepreneurs must learn how to be a highly flexible and adaptable often deal very well with a unique ability to choose actions even without all necessary information

Answer 9

Adaptability and Flexibility

Question 10

Give the 11 eleven entrepreneurial competencies

Answer 10

Locus of control, specific goal setting, self-efficacy, layers of competency, need for achievement, ambition, willingness to learn, strong initiative, adaptability and flexibility, willingness to take risks, and interpersonal skills.