INDUSTRY WIDE AND

WORK COMPETENCIES
for an effective
entrepreneur
 1. Networking/
Collaboration.

- The ability to establish professional

relationships. This skills will help
entrepreneurs negotiate with competitors,
suppliers and potential partners.

2
 2. Creative and critical
thinking

-This skill will help entrepreneurs generate

innovative solutions and use of relevant
information to understand the “greater
picture”.

3
 3. Organizing

- Entrepreneurs plan and prioritize work to

ensure time is managed effectively.

4
 4. Checking, examining
and recording

- Entrepreneurs must have the ability to

maintain confidential records, easily locate
and complete appropriate forms and paper
works.

5
 5. Planning

-Entrepreneurs must be specific about the

direction of their business venture and the
set of strategies they will use to achieve
both short-term and long-term goals and
objectives.

6
 6. Business principles

-Entrepreneurs must understand the basic

principles of business. Market knowledge,
economic principles, and ethical practices.

7
 7. Computer
competency

-Entrepreneurs must be proficient in the

use of basic computer programs so that
he/she know how to communicate and
prepare documents electronically.

8
 8. Workplace
competencies

-The application of knowledge, skills,

attitude, values and behaviors in the
workplace.

9
 9. High Growth,
High value

- Entrepreneurs offer incentive programs

and compensation packages and build a
strong entrepreneurial culture around
determination and high work ethics.

10
 10. Innovation and
creation

-Entrepreneurs must apply their creativity

to the formulation of inventive systems and
products.

11
 11. Marketing

- Entrepreneurs are competent in both

executing strategies in promoting their
products and establish customer
relationships. They conduct market
analysis, set pricing objectives, customer
objections into sales acceptance.
12
 12. Business
operations

- Entrepreneurs performs business

operations that are able to both carry out
daily operations, such as personnel
management, inventory and control.

13
 13. Risk assessment
and management

-Entrepreneurs can handle risk management

and can take into legal actions. They must
keep themselves abreast of the new
business laws and regulations to protect
their businesses.

14
 14. Financial
management

- Entrepreneurs are knowledgeable in

evaluating financial needs, determining
risks and identifying sources of funds.

15
 15. Decision making

-Entrepreneurs must have a decision making

skills. They must be able to generate,
evaluate and implement solutions.

16
 2 ENTREPRENEURIAL
CORE
COMPETENCIES

17
 CORE COMPETENCIES

▪ Art of Correct Practices

▪ Wealth-creating venture
▪ Provides Valuable Goods and Services
▪ Self-managed Enterprise
▪ Risk-taking venture

18
 3 SKILL
S
19
 SKILLS
Skills are considered personal abilities to do
something well. They are acquired and developed
by a person through constant and correct
practices. They are clear manifestations of the
abilities of a person to carry out complex tasks.
Kind of skills that an aspiring entrepreneur must
possess:
20
 1. COGNITIVE SKILLS

Refers to the mental ability of the entrepreneur to learn new things,

as well as to generate new idea.
The cognitive skills of an entrepreneur include the following:
▪ Ability to understand written materials
▪ Ability to learn new and apply new information
▪ Ability to solve problems systematically
▪ Ability to create new ideas
▪ Ability to innovate new products, procedures and methods

21
 2. PROBLEM-SOLVING
SKILLS
-Problems are common in the life of an entrepreneur and whatever is
the type or size of the problem, the entrepreneur must know how to
face it, solve it, and make a sound decision.
In order to resolve the (business) problem, the scientific are as follows:
▪ Define the real problem
▪ Gather information about the problem
▪ Formulate alternative solutions
▪ Evaluate alternative solutions
▪ Implement the optimal solution
22 ▪ Evaluate the decision
 3. TECHNICAL SKILLS

Now, that we are in the age of advanced information technology,

entrepreneurs must have equipped themselves with technical skills. The
technical skills of the entrepreneurs should relate to their knowledge and
proficiency in a specialized field.
The technical skills of an (aspiring) entrepreneur include proficiency and
ability in the following areas:
1.Information technology
2.Feasibility study and business plan preparation
3.Technical skills in writing
4.Marketing
23
5.Management and Finance
 4. INTERPERSONAL
SKILLS

-It is about the relationship and interaction of the entrepreneur with the
workers, suppliers, suppliers, creditors and (prospective) customers.
The interpersonal skills of an entrepreneur may include the following:
▪ Verbal communication skill
▪ Non-verbal communication skill
▪ Listening skill
▪ Leading skill
▪ Negotiation skill

24
 5.CORE
COMPETENCIES

-An aspiring entrepreneur should fully understand and apply the concepts
and principles of entrepreneurship.

The entrepreneurial core competency is a combination of entrepreneurial

concepts and principles as well as traits and skills that provide and become
the ultimate source of competitive advantage of the entrepreneur.

25
 5.CORE
COMPETENCIES

Competitive advantage pertains to the strategic position and conditions of the

entrepreneurial venture that:
▪ Provide the necessary attributes to outperform competitors
▪ Distinguishes the venture from competitors
▪ Achieves superior performance in the industry
▪ Produces a product or develops production methods that can hardly be
copied by competitors

26
 UNDERCOVE
R BOSS-7-
ELEVEN :
GUIDE QUESTIONS:
1. Cite 5 common competencies that the CEO of
7eleven showcased during the whole episode.
How was each competency showcased? Discuss
each in not less than 3 but not more than 5
sentences per competency. *
27
 UNDERCOVE
R BOSS-7-
ELEVEN :
GUIDE QUESTIONS:
2. Given the considerations in the episode, Is the
CEO an ordinary business owner or an
entrepreneur? Discuss your answer in not less
than 3 but not more than 5 sentences

28
 UNDERCOVE
R BOSS-7-
ELEVEN :
GUIDE QUESTIONS:
3. What are your major takeaways from the
episode? If you were the CEO will you decide to
do the same? Discuss your answer in not less
than 5 but not more than 10 sentences.

29