What are the various components of entrepreneurial competencies? Differentiate between Competence and Skill. 

Entrepreneurial competencies are the skills, traits, and behaviors that enable individuals to identify, create, and exploit opportunities to start and grow successful businesses. These competencies are critical for entrepreneurs to be successful and include a range of components.

1. Opportunity identification: This is the ability to recognize and evaluate potential opportunities in the market. Entrepreneurs need to have a keen eye for recognizing unmet customer needs or market gaps that they can address with their products or services.

2. Risk-taking: Entrepreneurship involves taking risks, and successful entrepreneurs must be willing to take calculated risks to achieve their goals. They should be able ______ _______ ____ __________ _____ ___ ______ ________.
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