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We believe that recognition of these competencies as abilities and skills makes entrepreneurship as a teachable and learnable behaviour. 1. This is exhibited by one’s distinct behaviour in different situations. It is a combination of knowledge, skills, attitudes, and motives. Core competencies are those that are collectively held and that include “the learnable behaviors the entire organization must practice in order to achieve competence in relation to the organization’s purpose and its competitive environment. 1. Entrepreneurship is the most effective way of integrating those who feel disposed of and alienated into the economy. Each competency includes a definition and the observable behaviors that may indicate the existence of a competency in a person. For those who are not aware of what this is all about, these capabilities refer to areas in which the organization seeks to have a competitive advantage. In going through the module, you have to extend your patience in understanding, analysing what you are reading. The term was coined in a research article, The Core Competencies of the Corporation, by Professors CK Prahalad and Gary Hamel published in the Harvard Business Review. Spawns entrepreneurship. 5. Objectives. An entrepreneur is a person who undertakes a venture with some profit potential and involving a considerable amount of risk and therefore, entrepreneurship is the venture undertaken by the entrepreneur. 3. 4. In this section we orient you towards a set of entrepreneurial competencies developed by the Entrepreneurship Development Institute of India (EDI) Ahemdabad. Discuss the relevance of the course; 2. This paper explores whether the same results can be developed in a traditional classroom setting.,The study is a systematic replication of the Morris study with the addition of a matched pair, quasi-experimental design, with a self-replication. Explain the key concepts of common and core competencies in entrepreneurship. Explain the core competencies in entrepreneurship 4. Introduction Álvaro Cuervo1, Domingo Ribeiro2 y Salvador Roig 2 1Universidad Complutense de Madrid 2Universitat de València The creation of a country’s wealth and dynamism depends upon the competitive-ness of its firms and this, in turn, relies fundamentally on the capabilities of its en- Delineate clearly between entrepreneurship and employment. It is often seen that core competencies are in direct relation with strategic organization capabilities. venture, assess what competencies they lack and/or possess, and gauge what type(s) of individual(s) may strengthen their venture team, this document will outline the entrepreneurial traits, motivations, and competencies found This document is intended to provide valuable descriptive information regarding typical entrepreneurial competencies. Learning Outcomes: At the end of this module the learners can: Discuss the relevance of entrepreneurship in general, including its economic importance. Explain the core competencies in Entrepreneurship; and 4. 1. Entrepreneurship competencies play a leading role in making entrepreneurs successful. Explain the key concepts of common competencies; 3. The learner independently creates/provides a quality and marketable product and/or service in Entrepreneurship. Explain the key concepts of common and core competencies in entrepreneurship. Key concepts and common concepts, underlying and marketable product course; competencies principles, and core and/or service in 2. Explain the key concepts of 3. Core competencies also bring benefits to consumers in terms of lower cost and better quality products, and cannot be easily copied or imitated. Discuss the relevance of entrepreneurship in general, including its economic importance. And the last of the three core competencies is not technical, and not leadership, it’s strategic. UNIT I: DEVELOPING A BUSINESS PLAN Module 1: Overview of Entrepreneurship 2. competencies 3. A core section then compares the models of entrepreneurial competencies cited in the literature, and on this basis proposes a set of entrepreneurial competencies which can … 3. Prahalad and Hamel wrote that a core competency can be identified by three characteristics: It "provides potential access to a wide variety of markets"; "make[s] a significant contribution to the perceived customer benefits of the end product"; and "should be difficult for competitors to imitate.". ADVERTISEMENTS: The competency results in superior performance. 2. These technical competencies build on, but are more specific than, competencies represented on lower tiers. Core competence is the foundation for sharpening a company's competitive edge, and it guides brand reputation, business growth, and marketing strategy. 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