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Entrepreneurial competencies are the combination of knowledge, skills, abilities, attitudes and behavioural characteristics that enable an entrepreneur to identify opportunities, mobilise resources, take calculated risks and successfully establish and develop a business venture. These competencies influence how entrepreneurs think, make decisions, deal with uncertainty and respond to changing market conditions. Although both entrepreneurs and traditional managers perform planning, organising and controlling functions, their behavioural orientation and approach to business challenges are significantly different. One of the most important entrepreneurial competencies is opportunity recognition. Successful entrepreneurs continuously observe customers, markets, technologies and social changes to identify unmet needs and new business possibilities. They do not merely manage existing operations ________ ____ _______ _________ ________ _____ _______ ___ ____ _____.
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