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Q uality C ontr ol
etting and sustaining a level of e cellence for products or services delivered to consumers is hat quality management
entails in a firm. Due to the volume of products produced every day, preserving quality becomes the most critical aspect
of a developing firm. Anu undra s tale sho s that he designed high quality clothes since his customers ere essential
to him. e did not compromise on quality.
Entrepreneurial Competencies in Particular
hese competencies can be developed through training, e perience and guidance in a budding entrepreneur. ome of
these competencies include
• Self-confidence: ntrepreneurs are not co ed do n by difficulties as they believe in their o n abilities and strengths.
hey have full faith in their kno ledge, skill and competence and have the confidence to handle future uncertainties.
• Taking Initiative: It is about making the first move to ards setting up of an enterprise and taking action.
• Seeking and Acting on Opportunity: An entrepreneur is al ays on the look out or searching for opportunity and is
ready to e ploit it in the best interests of the enterprise.
• Concern for High Quality: uccessful entrepreneurs are seen to be not satisfied ith moderate or average
performance. hey set high quality standards for themselves and then put in their best for achieving these standards.
• Goal Setting: oal setting refers to establishing short or long term ob ectives, usually along ith incorporating
deadlines and quantifiable measures to indicate if they have been achieved. or a business, the ultimate goal is to
make profit.
• Creativity: reativity is a process of continually improving ideas and solutions by making gradual alterations and
refinements. ntrepreneurs e hibit creativity by applying the process of design thinking, thinking of alternatives,
trying unconventional ays to do things and continuously improvise and iterate.
• Systematic Planning: uccessful entrepreneurs decide future course of action keeping in mind the goals to be
achieved. hey believe in developing relevant and realistic plans and ensure proper e ecution of the same in pursuit
of running a successful enterprise.
• Efficiency: any entrepreneurs are al ays keen to devise ne methods aimed at promoting efficiency. hey try and
create ne methods that aim at making orking easier, simpler, better, and economical.
• Information Seeking: A successful entrepreneur al ays keeps his her eyes and ears open and is receptive to ne
ideas hich can help in reali ing his goals. e she is al ays open to consult ith e perts and mentors to get the
right guidance and advice.
• Persistence: An entrepreneur is never disheartened by failures and keeps trying, adapting and iterating to overcome
obstacles that come in the ay of achieving goals.
• Negotiation skills: egotiation skills for entrepreneurs are critically important to business success. here a number
of scenarios here an entrepreneur's negotiation skills come into play such as supplier relations, customer sales,
employee hiring, securing investors etc.
• Team Building: eam building is any action or method that brings a group of individuals together and motivates
them to ork cooperatively as a team. It refers to the various activities undertaken to motivate the team members
and increase the overall performance of the team.
E ntre pre ne uri al S ki l l s- IV 91

