Entrepreneurial Competencies
What this domain tests
The exam tests whether you can name entrepreneurial competencies, recognise them in behaviour, and distinguish them from ordinary managerial functions.
Core rules
- A competency is a cluster of observable knowledge, skills and attitudes that produces superior performance; it is learnable, not a fixed trait.
- Key entrepreneurial competencies include opportunity seeking, initiative, persistence, information seeking, concern for high quality, commitment to work contract, efficiency orientation, systematic planning, problem solving, self-confidence, assertiveness, persuasion and networking.
- Technical competencies cover the trade or production skill; managerial competencies cover planning, organising, staffing, directing and controlling; behavioural competencies cover achievement, planning and power orientations.
- Development methods include role models, training, feedback, practice, mentoring and reflection.
Worked example
A tiffin owner notices that offices nearby have no lunch option (opportunity seeking), asks 30 workers about price and menu (information seeking), tests a weekly menu (systematic planning), and continues after two customers leave (persistence). Reasoning: each behaviour maps to a named competency; the example shows behaviour, not a fixed personality trait.
Traps
Do not treat confidence alone as competence. Do not confuse a competency with a function such as marketing. Do not claim competencies are only inborn; the syllabus expects them to be developed. Do not list vague qualities without behavioural evidence.