Entrepreneurial Competencies and Performance of Industrial Entrepreneurs Working in Jammu and Kashmir

Abstract

The strategic importance of small businesses has been acknowledged by scholars worldwide and in India these small businesses have been significantly contributing to the economic development. The focus of the present study is to highlight the importance of the entrepreneurial competencies and the development of these competencies. This was done by the competency assessment of 302 successful entrepreneurs operating in the state of Jammu and Kashmir in India. Further the effect of various background characteristics like education, industrial and entrepreneurial experience on the entrepreneurial competency was analyzed using t- test and ANOVA. It was found that entrepreneurial and industrial experience significantly influences the competencies. It was also found that entrepreneurial competencies have a strong impact on the business performance. The findings of the study highlight the importance of learning in the overall process of entrepreneurship. The study sends a strong message regarding the training and development of the prospective entrepreneurs.