MODULE 1 ENTREPRENEURIAL COMPETENCIES INTRODUCTION Every role has a skill and competency requirement. For a teacher or a performing artist‚ for example‚ it is the skill to communicate that plays a decisive role in their effectiveness besides‚ of course‚ their knowledge. For a craftsman or an artist‚ it is the creativity and skill in the chosen craft. Talking about entrepreneurship‚ you need to have a knack for spotting business opportunities and creativity and innovation in developing and
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A core competency is a concept in management theory originally advocated by C. K. Prahalad‚ and Gary Hamel‚ two business book writers. In their view a core competency is a specific factor that a business sees as being central to the way it‚ or its employees‚ works. It fulfills three key criteria: 1. It is not easy for competitors to imitate. 2. It can be re-used widely for many products and markets. 3. It must contribute to the end consumer’s experienced benefits. The importance of the
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Question 1. List the three managerial competencies that have led to your success so far in your job. List your strength and‚ for each strength listed‚ determine how that strength might get you into trouble and why is it so difficult to become and effective middle manager? Answer Managerial competencies is defined as sets of knowledge‚ skills‚ behaviours‚ and attitudes that a manager needs in order to be effective in a wide range of managerial jobs and various organizational setting. There were
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The Model Leader: Leadership Skills and Attributes: A Descriptive Summary of popular theory 1. Warren Bennis‚ Professor of Business Administration‚ University ofSouthern California; author of “On Becoming a Leader”. (Bennis‚ W.‚ 1994‚On Becoming a Leader‚ New York: Addison Wesley). Bennis’ Basic Ingredients to Leadership: Basic Ingredient | Interpretation | Guiding Vision | Knowing what you w ant to achieve both professionally and personally. The personalstrength to persist in the face
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ADAPTATION STRATEGIES Once a decision for a market entry mode has been made‚ a firm must decide how much‚ if any‚ to adapt its marketing mix—product‚ promotion‚ price‚ and distribution—to a foreign market. Warren J. Keegan (1995) distinguished five adaptation strategies of product and communication to a foreign market (see Table 1). These strategies are discussed briefly below. Straight Extension In straight extension the same product is marketed to all countries (a "world" product)‚ except for
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Skills and Competencies Patricia Rosemond Elms College Skills and Competencies Nurses for the future-Communication Many people refer to their strong communication skills‚ but communication is really a competency that relies on a combination of certain skills‚ behavior and knowledge. To communicate effectively a person may need to understand cultural diversity‚ have advanced language skills‚ and behave with patience. Interpersonal communication is essential in every area of life‚ but it especially
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Disney’s Core Competency Walt Disney once noted: “I only hope that we don’t lose sight of one thing – that it was all started by a mouse”. (Disney Dreamer‚ 1998). Walt Disney’s original core competence was cartoons and animated movies. By combining Imagineering with engineering Disney’s company reached unparalleled success with the creation of the first full length animated movie. This success led to new ideas and one of them was to open a park‚ a different kind of park. In Disneyland Walt used
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the different leadership styles and competencies. “Management is efficiency in climbing the ladder of success; leadership determines whether the ladder is leaning against the right wall” (Stephen R.Covey). Leaders are persons with a vision‚ able to lead others and make people believe and agree with their ideals and style of leadership. A manager on the contrary is more of a result driven person‚ able to organize and order people to get things done. The basis of good leadership is honourable
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WHAT IS A COMPETENCY? There are various definitions given for the term competency. Combining the basic ideas embedded in all definitions‚ competency can be defined as: “ A combination of knowledge‚ skills‚ attitude and personality of an individual as applied to a role or job in the context of the present and future environment‚ that accounts for sustained success within the framework of Organizational Values.” Sometimes competencies are also defined as “ cluster of successful behaviors
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what type of coverage the farmer chooses to get. Ch. 7 1. Pastor Rick Warren‚ author of The Purpose Driven Life‚ accepts that homosexuality is a sin‚ but he also emphasizes his beliefs in God’s love for all people. Why might some members of the religious right reject Warren’s Formula? a. I feel that everyone has their own opinion when it comes to beliefs in religion and God‚ even within the same religion. It sounds like Warren is just going by what the bible tells him. And he’s simply stating on
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