Entrepreneurial skills are crucial in a variety of ways.

They aid in the

identification of opportunities, the fast adaptation to changes, the
improvement of business L performance, the strengthening of the firm's
competitive position, and, finally, the accomplishment of organizational
success. This means that when businesses are run by competent
entrepreneurs, their performance will surely improve. Entrepreneurial
competencies are the totality of an entrepreneur's personality, abilities,
and knowledge that are required to effectively fulfill their roles and
obligations. According to Lau, Man, and Chan (1999), entrepreneurial
competences are a higher-level feature that encompasses personality
characteristics, abilities, and knowledge, and may thus be viewed as the
entrepreneur's overall capacity to perform a job function successfully.
According to Camuffo, Gerli, and Gubitta (2012), entrepreneur talents
can be characterized as functional, behavioral, or cross-functional, as
shown in the table above. Accounting, finance, control, marketing,
human resource management, organization, operations,
internationalization, and strategy, as well as other qualities that enable
the entrepreneur to manage the firm, are examples of functional
competences. In contrast, emotional competencies are unique behaviors
divided into five categories: self-awareness, self-management, social
awareness, relationship management, and cognitive abilities. The broad
general skills that comprise cross-functional competencies are organized
into three clusters: goal and action management, people management,
and analytical thinking. Entrepreneurs should acquire and demonstrate
these different abilities at an advanced level in order to contribute to
greater business success. Remember that these entrepreneurial
competences are changeable and learnable, which implies that
entrepreneurs' low levels of competency in any area may be altered with
sufficient education and training. According to Man and Chan (2002),
entrepreneurial competency attributes may be explained from a process
standpoint, reflecting the entrepreneur's actual activity. As higher-level
attributes, they are influenced by the entrepreneurs' experience, training,
education, family background, and other demographic factors. Man and
Chan grouped all known competencies into actions or behaviors that are
appropriate in the setting of small and medium-sized organizations.