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Quality Control
Setting and sustaining a level of excellence for products or services delivered to consumers is what 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. Anuj Mundra’s tale shows that he designed high-quality clothes since his customers were essential
to him. He did not compromise on quality.
Influencing and Negotiating Skills
Entrepreneurs must be able to negotiate and influence others. These skills can assist entrepreneurs in the following ways:
Negotiate
• Convince customers of the worth of your products and services.
• Maintain positive stakeholder connections.
Influence
• Create a network of links.
• Build a strong network of people who are enthusiastic about assisting their company or concept to flourish.
Negotiation abilities include the following:
Listening carefully.
Communication that is persuasive
Problem-solving creativity
Understanding win-win situations
Organizational abilities
Product understanding
Personal honesty
Ability to think rationally under stress
Entrepreneurial Competencies in Particular
These competencies can be developed through training, experience and guidance in a budding entrepreneur. Some of
these competencies include:
• Self-confidence: Entrepreneurs are not cowed down by difficulties as they believe in their own abilities and strengths.
They have full faith in their knowledge, skill and competence and have the confidence to handle future uncertainties.
• Taking Initiative: It is about making the first move towards setting up of an enterprise and taking action.
• Seeking and Acting on Opportunity: An entrepreneur is always on the look-out or searching for opportunity and is
ready to exploit it in the best interests of the enterprise.
• Concern for High Quality: Successful entrepreneurs are seen to be not satisfied with moderate or average performance.
They set high quality standards for themselves and then put in their best for achieving these standards.
• Goal Setting: Goal setting refers to establishing short or long-term objectives, usually along with incorporating
deadlines and quantifiable measures to indicate if they have been achieved. For a business, the ultimate goal is to
make profit.
• Creativity: Creativity is a process of continually improving ideas and solutions by making gradual alterations and
refinements. Entrepreneurs exhibit creativity by applying the process of design thinking, thinking of alternatives,
trying unconventional ways to do things and continuously improvise and iterate.
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