Entrepreneurial Competencies and Business Success A Study of Entrepreneurs in Jammu and Kashmir

Abstract

It is a well-known fact that entrepreneurship is a catalyst which fuels-up the growth and well-being of nations. As entrepreneurship is largely associated with small businesses, all the factors involved in their survival and success continue to grab the attention of researchers across the globe. The present study was carried out with the aim of assessing the competencies necessary for the entrepreneurial success. It is based on the belief that an enterprise is just an extension of entrepreneur s capabilities. It is the entrepreneur s personal characteristics that have a bearing on the creation and success of small businesses. So the basic research question which this study addressed was regarding the entrepreneurial competencies required to succeed in the entrepreneurial pursuits in the state of Jammu and Kashmir, India. As the study was based on the entrepreneurs of Jammu and Kashmir, the sample chosen for the study were the successful industrial entrepreneurs working in the various industrial estates of the state. The study involved an empirical research design based on the primary data collected through a survey instrument. The questionnaire used for the said purpose was developed by Man (2001).Two more relevant competency areas were added to the list identified by Man (2001) namely Ethical Competency (Ahmad, 2007) and Technical Competency (Chandler and Jansen, 1992). Similarly, to measure business performance, Chandler and Hanks instrument (1993) was found relevant, thus used. newlineThe expedition to assess the competencies of successful industrial entrepreneurs and their supposed association with business performance revealed many important things. It highlighted the fact that industrial sector in Jammu and Kashmir is represented by a heterogeneous group of manufacturers satisfying largely the needs of local consumers. It was also found on the basis of analysis of the primary data so collected from the sample respondents that the entrepreneurs need a portfolio of competencies which include opportunity...