Core Competencies in Entrepreneurship
The Entrepreneurial Core Competency is defined as the combination of entrepreneurial concepts and principles, entrepreneurial character traits and entrepreneurial skills that provide and become the ultimate source of competitive advantage of the entrepreneur.
Competitive advantage refers to the strategic position and condition of the entrepreneurial venture that
1. provides the necessary attributes to outperform competitors,
2. distinguishes the venture from competitors,
3. achieves superior performance in the industry, and
4. produces a product or develops production methods that can hardly be copied by competitors.
Total Perspective of a Successful Entrepreneur
1. Fully understands entrepreneurial concepts and principles
2. Equipped with character traits common --------> Core Competencies defining competitive advantage
among successful entrepreneurs
3. Acquires, develops, and sharpens entrepreneurial skills
1. provides the necessary attributes to outperform competitors,
2. distinguishes the venture from competitors,
3. achieves superior performance in the industry, and
4. produces a product or develops production methods that can hardly be copied by competitors.
Total Perspective of a Successful Entrepreneur
1. Fully understands entrepreneurial concepts and principles
2. Equipped with character traits common --------> Core Competencies defining competitive advantage
among successful entrepreneurs
3. Acquires, develops, and sharpens entrepreneurial skills
