Personal Entrepreneurial Competencies

Entrepreneurial competencies play a crucial role in the entrepreneur’s success and beating the competition. In the past few years, the importance of entrepreneurial competencies has increased constantly. To become a successful entrepreneur, one must be able to take risks as well as handle success, and having both qualities at the same time is termed personal entrepreneurial competencies.

Personal entrepreneurial competencies or PEC involve an individual’s skills, knowledge, motivation, capabilities, and traits. PEC has been described and explained differently by different researchers over the past decades.

There are 10 Personal entrepreneurial competencies that have been defined on the basis of 3 general clusters which are achievement, planning, and power. Those 10 personal entrepreneurial competencies are:

1. Opportunity Seeking

2. Persistence

3. Commitment to Work Contract

4. Risk-taking

5. Demand for Efficiency and Quality

6. Goal Setting

7. Information Seeking

8. Systematic Planning and Monitoring

9. Persuasion and Networking

10. Self-Confidence

For more, connect with team WomELLE and know more.

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