Skills and Competencies of a 21st Century Entrepreneur

2580 Words Mar 31st, 2014 11 Pages
Table of Contents INTRODUCTION 2 CRITICAL EVALUATION 3 PRE – START UP PLANNING AND PREPARATION 3 ENTREPRENEUR IN AN ORGANISATION 4 ENTREPRENEUR AS AN INDIVIDUAL 5 ENTREPRENEUR WITHIN THE SOCIETY 5 CONCLUSION 6 RECOMMENDATION 6 REFERENCES 7 ANNOTATED BIBILIOGRAPHY 8 APPENDIX 9

INTRODUCTION
Various definitions have been given to the word entrepreneur, due to the changes and complexity of the world’s economic structure. Entrepreneurs have been cussed and discussed, declared to be social misfits and bastions of the private enterprise system.
“An entrepreneur sees an opportunity which others do not fully recognize, to meet an unsatisfied demand or to radically improve the performance of an existing business. They
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The ability for an entrepreneur to develop, maintain and exploit these competitive advantages is vital to the establishment of a firm’s value. The importance of identifying entrepreneurial characteristics helps in encouraging potential entrepreneurs to start their own business. In recent times, it shows that policies has become more focused on start-up business and increasing the level of entrepreneurial activity but it is vital that this policies encourage high quality and long standing businesses.
This paper takes a look at the “lifeworld” of an entrepreneur, discussing and critically evaluating the pressures associated with running a small and medium enterprise in the 21st Century. It advocates the test on entrepreneurial characteristics is strongly based on the development of theories of entrepreneurship. It examines the set of skills and competences needed for entrepreneurship and where and how these are developed. It seeks to provide a full response to the growing recognition of the importance of skills and competences for entrepreneurship

CRITICAL EVALUATION
In the 21st century, the entrepreneurial process involves all the functions, activities and actions related with the idea of opportunities and the creation of small and medium enterprises to pursue these opportunities (Bygrave and Hofer, 1991). The business environments that provide their framework are being remodelled by a number of crucial factors
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