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A “Competency Model” for Entrepreneurship?

Mark Marich

If you think entrepreneurship is as much an art as a science, you might have some second thoughts about a “competency model” for entrepreneurship. But, the model does offer a useful way to understand the various skills that entrepreneurs need to succeed.

Developed by the US Department of Labor and the Consortium for Entrepreneurship Education, the model identifies key skill sets that help increase an entrepreneur’s prospects for success. These include areas that relate to academic skills (e.g., math, communications, critical thinking) and personal attributes, such as ambition, willingness to take risks, and flexibility. The model is designed to help educators develop and refine curricula that provide entrepreneurship education to youth and adults.

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