Important ways for developing entrepreneurial competencies are explained below :
Entrepreneurial success depends upon entrepreneur’s qualities or competencies. There are certain inborn qualities while certain others can be acquired through education and training. This fact has been amply demonstrated in Kakinda Experiments conducted by Prof. Davis C. McClelland. Competencies have direct bearing on human behaviour and performance. Various competencies can be cultivated or developed in the following way.
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1. Gaining first hand knowledge about competencies. Various competencies cannot be cultivated without clearly understanding their meaning significance and relevance. An earnest attempt must be made to understand at length the various competencies which are required for the efficient performance of the assigned task.
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2. Competency Recognition. An individual’s behaviour or performance depends upon the competencies he possesses. Therefore in order to get desired behaviour we should be in a position to know as to what are the competencies required in the individuals to perform in a particular manner. Under this step an effort is made to recognize the competency.
3. Self Assessment. After getting clear out idea about the competencies required for a particular type of behaviour, it is for the entrepreneur to see as to what extent he possesses these competencies and to what extent he is employing these competencies for achieving the desired goal.
4. Comparison of Competencies. The next step is to compare individual competencies with the competencies required for the desired performance. Wherever we find deficiencies an earnest attempt is made to find out the reasons for the same.
5. Developing Competencies and feedback. Once it is realized that an individual does not possess a particular competency required for a particular type of behaviour, the next step will be to develop this competency. Assistance from various behaviourial scientists may be taken for devising out ways and means for developing the required competency. In order to ensure that the required competency becomes part of the individual’s behaviour, he is asked to practice the needed competency repeatedly.
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Lastly an attempt is made to know as to what extent change in individual behaviour has taken place due to acquiring of the requisite competency and to what extent it has been useful. It is through continuous application that one can ensure that the desired competency becomes part of his habit or personality.