Practicing Success
The Entrepreneurship Development Institute of India (EDI), a national resource institution has set 15 competencies of entrepreneurial success. Identify the one that is not included on these competencies. |
Persistence Concern for High Quality of work Problem -solving Leadership Qualities |
Leadership Qualities |
The correct answer is option (4) : Leadership Qualities EDI has identified a set of 15 competencies that contribute toward entrepreneurial performance and success. These are briefly stated hereunder. Initiative: Acting out of choice rather than compulsion, taking the lead rather than waiting for others to start. Sees and Acts on Opportunities: A mindset where one is trained to look for business opportunities from everyday experiences. Persistence: A 'never say die' attitude, not giving up easily, striving continuously until success is achieved. Commitment to Work Contract: Taking personal pains to complete a task as scheduled. Efficiency Orientation: Concern for conservation of time, money and effort. 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). Problem-solving:Observing the symptoms, diagnosing and curing. Assertiveness: Conveying emphatically one's vision and convincing others of its value. Persuasion: Eliciting support of others in the venture. Use of Influence Strategies: Providing leadership. Monitoring: Ensuring the progress of the venture as planned. Concern for Employee Welfare: Believing in employee well being as the key to competitiveness and success and initiating programmes of employee welfare. |