SKILLS ASSOCIATED WITH ENTREPRENEURSHIP

SKILLS ASSOCIATED WITH ENTREPRENEURSHIP - Management...

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Management Science II Dr.T.J.Kamalanabhan Indian Institute of Technology Madras MODULE 7 Skills Associated With Entrepreneurship ENTREPRENEURIAL Technical Skills Specific Operation Technology Communication Interpersonal relations Organizational ability Coordinating Team members Environmental Observation BUSINESS MANAGEMENT SKILLS SKILLS TECHNICAL SKILLS 1
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Management Science II Dr.T.J.Kamalanabhan Indian Institute of Technology Madras Management Skills Planning Formulating Goals Decision-making Motivating Marketing Accounting Negotiation Entrepreneurial Skills Inner Discipline Risk-seeking Innovation Change-orientation Persistency Visionary 2
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Management Science II Dr.T.J.Kamalanabhan Indian Institute of Technology Madras Entrepreneur Vs. Administrator ¾ Opportunity ¾ Commitment ¾ Control ¾ Personal OPPORTUNITY ADMINISTRATOR ENTREPRENEUR ± Crave for Unique functioning ± Action orientation ± Risk management ± Revolutionary ± Short decision windows ± Recognize Multiple groups ± Negotiation ± Risk reduction ± Evolutionary ± Long decision windows 3
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Management Science II Dr.T.J.Kamalanabhan Indian Institute of Technology Madras Commitment Control Entrepreneur Administrator Administrator Entrepreneur ± Knowledge of ± Lack of predictable resource needs resource needs ± Target long-term ± Lack of long-term performance control ± Single stage ± Multistage functioning functioning ± Minimal exposure at ± Complete concentration ± Risk of ± Power, status and financial rewards obsolescence recognized ± Coordination ± Minimal dependency ± Efficiency in matching resource life to requirements ± Long resource life matched with short term need ± Inertia ± Inflexibility 4
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Management Science II Dr.T.J.Kamalanabhan Indian Institute of Technology Madras Personal Entrepreneur Administrator ± Informal communication ± Formal communication ± Preference for simple business structures ± Defined authority and responsibility ± Preference of known people ± Specific organizational culture Entrepreneurial Personality Entrepreneurial Personality Sociological Characteristics Psychological Characteristics 5
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SKILLS ASSOCIATED WITH ENTREPRENEURSHIP - Management...

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