According to Entrepreneurship Development Institute of India, how many competencies are there, that contribute towards  entrepreneurial performance and success?

15

The correct answer is option (2)- 15.

EDI has identified a set of 15 competencies that contribute toward entrepreneurial performance and success. These are as follows-

1) Initiative: Acting out of choice rather than compulsion, taking the lead rather than waiting for others to start.

2) Sees and Acts on Opportunities: A mindset where one is trained to look for business opportunities from everyday experiences.

3) Persistence: A ‘never say die’ attitude, not giving up easily, striving continuously until success is achieved.

4) Information seeking: Knowing and knowing who knows, consulting experts, reading relevant material and an overall openness to ideas and information.

5) Concern for High Quality of Work: Attention to details and observance of established standards and norms.

6) Commitment to Work Contract: Taking personal pains to complete a task as scheduled.

7) Efficiency Orientation: Concern for conservation of time, money and effort.

8) Systematic Planning: Breaking up the complex whole into parts, close examination of the parts and inferring about the whole; e.g. simultaneously attending to production, marketing and financial aspects (parts) of the overall business strategy (the whole).

9) Problem-solving: Observing the symptoms, diagnosing and curing.

10) Self-confidence: Not being afraid of the risks associated with business and relying on one’s capabilities to successfully manage these.

11) Assertiveness: Conveying emphatically one’s vision and convincing others of its value.

12) Persuasion: Eliciting support of others in the venture.

13) Use of Influence Strategies: Providing leadership.

14) Monitoring: Ensuring the progress of the venture as planned.

15) Concern for Employee Welfare: Believing in employee well being as the key to competitiveness and success and initiating programmes of employee welfare.