Lokanandha Reddy Irala 1 What it takes to be an Entrepreneur ? Entrepreneurial Competencies What it takes to be an Entrepreneur Business Skill Development.

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Presentation transcript:

Lokanandha Reddy Irala 1 What it takes to be an Entrepreneur ? Entrepreneurial Competencies What it takes to be an Entrepreneur Business Skill Development Programme Ministry of Micro, Small & Medium Enterprises, GOI. Hyderabad Oct 30, 2007 Lokanandha Reddy Irala Director-Administration & Associate Professor-Finance Area Dhruva College of Management Kachiguda, Hyderabad

The Prologue  Entrepreneurs, it is believed, have some inherent talents, skills and traits.  While on one hand, this is true, evidences suggest that entrepreneurs can also be created through well-designed training interventions. (The Entrepreneurship Development Institute, Ahmedabad, Lokanandha Reddy Irala 2 What it takes to be an Entrepreneur ?

What it takes to be an Entrepreneur?  EDI, Ahmedabad & Mc Clelland Study In India, Malawi & equador 15 Major Competencies Identified Competencies are Cross Culturally valid Lokanandha Reddy Irala 3 What it takes to be an Entrepreneur ?

Competence Defined  Competence An underlying characteristic of a person which results in effective and / or superior performance in a job (Boyatzix, 1982) A trait or skill Lokanandha Reddy Irala 4 What it takes to be an Entrepreneur ?

EDI-Mc Cleland Entrepreneurial Competencies  Initiative  Sees & Acts on opportunities  Persistence  Information Seeking  Concern for High Quality Work Lokanandha Reddy Irala 5 What it takes to be an Entrepreneur ?

EDI-Mc Cleland Entrepreneurial Competencies  Commitment to Work Contract  Efficiency Orientation  Systematic Planning  Problem Solving  Self-Confidence Lokanandha Reddy Irala 6 What it takes to be an Entrepreneur ?

EDI-Mc Cleland Entrepreneurial Competencies  Assertiveness  Persuasion  Use of Influence Strategies  Monitoring  Concern for Employee welfare Lokanandha Reddy Irala 7 What it takes to be an Entrepreneur ?

EDI-Mc Cleland Entrepreneurial Competencies  Interrelated  Context plays a role  Can be developed through Systemic Training Lokanandha Reddy Irala 8 What it takes to be an Entrepreneur ?

Measurement of Entrepreneurial Competencies  Questionnaire  Score sheet  Corrected Score Sheet Lokanandha Reddy Irala 9 What it takes to be an Entrepreneur ?

References  Richard E. Boyatzix (1982), ‘ The Competent Manager’, John Wiley & Sons  Lokanandha Reddy Irala 10 What it takes to be an Entrepreneur ?

Entrepreneurial Competencies Thank You Questions? Lokanandha Reddy Irala 11 What it takes to be an Entrepreneur ?