The Importance of Competencies for Entrepreneurship: A View from Entrepreneurs and Scholars' Perspective

Edgar Izquierdo · Dirk Deschoolmeester · Danny Salazar

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Entrepreneurship Studies and Influences Vocational and Entrepreneurial Education Migration, Ethnicity, and Economy

Abstract

This article explores entrepreneurs’ competencies in order to rank them according to their level of importance for entrepreneurship. Specifically, it explores what entrepreneurs within the Ecuadorian context and scholars from different countries say about relevant competencies that entrepreneurs are expected to manifest when facing a business startup. An examination of relevant entrepreneurs’ competencies is legitimized by the importance of considering entrepreneurs’ and experts’ opinions. Two surveys, conducted among Ecuadorian entrepreneurs and scholars from several countries, aimed to identify the most relevant competencies for entrepreneurship. A list of entrepreneurs’ competencies was developed based on entrepreneurship literature. This list was presented to respondents to rank the competencies according to their perceived level of importance. Entrepreneurs, on the one hand, consider that decision making is the most important competency when embarking on an entrepreneurial venture, whereas scholars are in favor of identifying business opportunities. We posit that the outcomes of these surveys provide valuable information for educators and policy makers. For the former, it can help them adapt their courses and curricula in order to better prepare students and to increase their confidence for a successful business startup. For the latter, information provided in this paper can help them design effective programs to foster entrepreneurship. A discussion of the findings and implications for future research are presented.

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References

1973Testing for competence rather than for "intelligence."1988Implementing Entrepreneurial Ideas: The Case for Intention 1993Competence at Work: Models for Superior Performance 1982The Competent Manager: A Model for Effective Performance 2002The competitiveness of small and medium enterprises 1992The founder's self-assessed competence and venture performance 1994Entrepreneurship Education and Training Programmes:1994Founder Competence, the Environment, and Venture Performance

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