Impact of entrepreneurial competencies on the ability to create and manage a business
DOI:
https://doi.org/10.29105/vtga12.4-1354Keywords:
Entrepreneurship, Entrepreneurial competencies, Business creation and management, Structural equation model, Partial least squaresAbstract
Entrepreneurial competencies, a topic of current relevance, are a set of abilities (which can be developed and trained) that foster the creation and management of businesses. The objective of this descriptive-correlational research was to evaluate the impact of a set of entrepreneurial competencies on the capacity to create and manage a business. To this end, an instrument measuring entrepreneurial competencies, which provides information on six factors, was administered to a nonprobability sample of 723 participants. Subsequently, the designed reflective model was evaluated using partial least squares structural equation modeling. The results show that the competencies Self-esteem and situational and risk control, Entrepreneurial information search, and Social network formation significantly influence the dependent variable (the effect size was also significant for the first two factors), while the competencies Knowledge of one's own capabilities and Positive attitude towards entrepreneurship do not. The proposed model also has predictive relevance. These results are helpful for public and private organizations interested in promoting entrepreneurship in general, and in developing specific competencies.
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