Which competency of entrepreneurship is not included in 15 competencies that EDI has identified to contribute toward entrepreneurial performance and success?

Concern for supplier Welfare

The correct answer is option 3- Concern for supplier Welfare.

Concern for supplier Welfare is not included in 15 competencies that EDI has identified to contribute toward entrepreneurial performance and success. There is concern for Employee Welfare.

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.