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Entrepreneurship Competency Model

In collaboration with the Consortium for Entrepreneurship Education (CEE), the Employment and Training Administration (ETA) has worked with education, business, and industry leaders to develop a comprehensive competency model for entrepreneurship as it relates to all careers areas. The model is designed to be adaptable along with changing skill requirements. CEE has committed to working with entrepreneurship leaders and partners to keep the model current.

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Entrepreneurship Competency Model

Entrepreneurship Building Blocks Pyramid

<strong>Interpersonal Skills</strong> Displaying skills to work with others from diverse backgrounds. <strong>Initiative</strong> Demonstrating a willingness to work. <strong>Ambition</strong> Demonstrating desire and dedication to achieve goals. <strong>Adaptability and Flexibility</strong> Displaying the capability to adapt to new, different, or changing requirements. <strong>Willingness to Take Risks</strong> Displaying a willingness to accept risks associated with entrepreneurial activities. <strong>Willingness to Learn</strong> Displaying a willingness to learn and apply new knowledge and skills. <strong>Reading</strong> Understanding written sentences and paragraphs in work-related documents. <strong>Writing</strong> Using standard English to compile information and convey ideas. <strong>Mathematics</strong> Using mathematics to express ideas and solve problems. <strong>Science and Technology</strong> Applying scientific principles and using technology to solve problems or develop solutions. <strong>Communication- Listening and Speaking</strong> Giving full attention to what others are saying and speaking in English well enough to be understood by others. <strong>Critical and Analytical Thinking</strong> Using logic and reasoning to address problems. <strong>Creative Thinking</strong> Generating innovative and creative solutions. <strong>Networking</strong> Establishing professional relationships and partnerships. <strong>Planning and Organizing</strong> Planning and prioritizing work to manage time effectively and accomplish assigned tasks. <strong>Problem Solving and Decision Making</strong> Applying critical-thinking skills to solve problems by generating, evaluating, and implementing solutions. <strong>Checking, Examining, and Recording</strong> Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic format. <strong>Business Fundamentals</strong> Applying knowledge of basic business principles, trends, and economics to work activities. <strong>Computer Applications</strong> Using a computer and related applications to input and retrieve information. <strong>Principles of Entrepreneurship</strong> Knowledge of processes and characteristics that are central to entrepreneurial activities. <strong>Innovation and Invention</strong> Formulating new ideas for and applications of processes and products. <strong>Planning</strong> Determining the direction of an organization/enterprise and identifying a strategy to achieve that direction. <strong>Marketing</strong> Planning and executing a strategy to promote and sell products, services, and ideas. <strong>Financial Management</strong> Managing and controlling money and assets to successfully carry out entrepreneurial activities. <strong>Business Operations</strong> Carrying out ongoing activities involved in the running of a business. <strong>Risk Assessment and Management</strong> Developing a structured approach to managing uncertainty and evaluating, assuming, and mitigating risks. <strong>Youth Entrepreneurship</strong> K-12 education, Community-based entrepreneurship education providers, Foster innovation and entrepreneurial thinking <strong>Micro-Enterprise</strong> Cottage industry, Quick startup, Low capital investment, Low income <strong>Small Business Development</strong> Startup capital required, Franchise, Revenue - over $25,000 but less than $100,000 <strong>Social Entrepreneurship</strong> Social Enterprise: Entrepreneurs who start their own businesses, Sector-bending - blurring lines between business and social sectors, Social value creation; Social Innovation:  Entrepreneurs as innovators, New ways to address social problems or me <strong>High-Growth, High-Value Entrepreneurship</strong> Venture capital, Angel investors, Requires money management/marketing, Innovation - research ideas to market, Creates wealth, Employs others, Revenue - over $250,000 Click here to search for O*NET Occupational Competencies Profiles