ENTREP (U1L2 core competencies in entrep)

entreprendre

What is the french word of entrepreneur?

to undertake

Meaning of the french word entrepreneur

entrepreneur

It undertakes the responsibility of starting and managing a business, often taking risks to bring new ideas to life

core competencies

Characteristics that make a business or an individual stand out from the competition

entrepreneur as a goal driven

Goal-oriented entrepreneurs achieve the maximum results of their efforts because they work towards clear and measurable targets

entrepreneur as goal driven

Working towards clearly defined goals is important. They think of what they want and how to get it.

entrepreneur as a missionary

The entrepreneur considers the business as a mission. For these people, there is a passion rather than drive

entrepreneur as a marketing man

Entrepreneurs must design the product, set its price, distribute the product to the market and promote the product

entrepreneurs start small to big

Most successful entrepreneurs start small and think big. Many entrepreneurs start a small scale business but with their managerial talents and persistence, they will be able to make the company grows

entrepreneur’s initiative

With the interest in the opportunity at hand, the entrepreneur takes the initiative of venturing into the business

organization of capital resources

Human resources and financials are important in starting up a business. With the entrepreneur’s savings and other resources, he will start the operation of his business

organization of capital resources

He may ask his trusted family members or friends that could help him start his dream business.

development of administrative machinery

The management will develop a structure based on the need for operations. Duties and responsibilities are assigned to individuals with skills that will fit to their position and qualifications

development of administrative machinery

It is based on their capacity to do the job and not on personal connections with the entrepreneur

development of entrepreneurial autonomy

The entrepreneur develops autonomy as he leads all the activities in the business organization. He knows the best direction because he also knows how to calculate the risk involved

development of swot analysis

Uses elements for their business

strengths and weaknesses

Are the internal elements in the business

opportunities and threats

Are the external elements in the business

strengths

Are the things that the company does well

weaknesses

Are the things that the company lacks

opportunities

Are factors/events in the environment of the business which are favorable for its success

threaths

Elements that could endanger the profitability of the business

core competence

Something unique that a business has or can do strategically well