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Steffi Li Bi

on 23 July 2014

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In the entrepreneurial process tolerance for ambiguity refers to the ability of an entrepreneur to perceive ambiguous situation as desirable, challenging, and interesting and neither denies nor distorts their complexity of incongruity.

Self-esteem of an entrepreneur represents his ability to develop healthy confidence
and respect for himself. He feels confident for being capable for life, able and worth or
to feel right to achieve happiness. An entrepreneur respects himself and defends his own
interest and needs.
Social skill

Social skill of entrepreneurs include social perception (the ability to perceive others
accurately), expressiveness (the ability to express feelings and reactions clearly and
openly), impression management (skill in making favorable first impressions on others),
and social adaptability (proficiency in adapting one’s actions to current social contexts) in
the process of managing his business.
Communication skill refers to the ability of an entrepreneur to transfer ideas, plans,
policies and programmes to employees, debtors, creditors, customers and everyone who
is connected with the business in order to inform, influence and to express his feeling
This is the most important competency because none of the rest will function without it. Entrepreneurs set goals and objectives that are meaningful and challenging
Personal entrepreneurial competencies are those skills business owners demonstrate that help their business be successful. These skills aren't learned, they are innate.
Personal Entrepreneurial Competencies
by Steffi Libi Grade 9 -Prudence
I do not know quite how to put this. Shrewd or sharp might be a better word. It is described as a 'trade skill' and some describe it as common sense. Entrepreneurs seem to always mae the right choice. Successful entrepreneurs seem to have intuitive good judgement when making complex business decisions.
Ability to understand others’ emotions, necessities and interests and to integrate them to our own.

One’s disposition to change focus in order to follow better fitting options that allow tasks to be well executed.

An entrepreneur is said to be creative when he is able to identify a gap in the market and think up a product or service to meet that gap. Creativity of an entrepreneur also implies the ability to do old thinks in a new way or able to give new solutions.
Tolerance for Ambiguity
Self Esteem
An entrepreneur needs to address the rapid technical changes in the industry. Higher levels of technology must be introduced in the production methods in order to achieve productivity demands. Therefore he must up date his technical knowledge in order to
serve customers quickly and more effectively.
Technical Knowledge

Entrepreneurs are driven to succeed and expand their business. They are always on
the move, full of energy and highly motivated. They are driven to succeed and have an
abundance of self motivation.
Communication Skill

Represents one’s strive to be independent and having control.
Avoiding restrictions, rules, procedures and strong need for independence and
Drive and Energy
Need of Autonomy
Street Smarts
Full transcript