The Place of Entrepreneurship Competence in Business Success

The pivotal position occupied by entrepreneurship as a ecological tool for speedy financial development and development of any country can’t be over emphasized. That is evident in a number of available literatures compiled by scholars about them subject but a closer study of these literatures show tilted emphasis and concentrations on some typically common areas associated with entrepreneurship. Increasing tournaments, constant and rapid changes in internal and external environment of business activities, and the significant effect of Small and Medium Range Corporations (SMEs) on the market generally have led to a growing involvement in learning the role of factors rousing successful entrepreneurship, business success and countrywide development.

Though, entrepreneurship, have performed and can play more of the positive roles, is not a fairly easy vocation as it does not always guarantee a hundred per cent triumph. There are many critical regions of knowledge and factors that must definitely be acquired and devote spot to permit entrepreneurs achieve a way of measuring business success and therefore adding to national development.

Several studies have been conducted in regions of entrepreneurship competency, entrepreneurship success and countrywide development.

Most literatures associated with entrepreneurship and entrepreneurship success have a tendency to unquestionably argue that a lot of entrepreneurial fiascos are essentially anticipated to inadequate money (e.g. Onikoyi and adeyemo, 2012). Such research final results have no hesitation influenced government insurance policy course in many developed and expanding countries of the world through the creation of financial firms and provision of money to sections for the only real purpose of maximizing and sustaining entrepreneurial development for fast national development.

The above, policy strategy however has led to the continuous negligence on the part of the government, scholars and business providers in these countries to considering other essential factors like entrepreneurial competency which evenly plays a part in successful entrepreneurship, business success and nationwide development.

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The existing literatures about them do not provide sufficient explanations to the role basic and/or specific competences play in successful entrepreneurship, business success and countrywide development. It has thus, made the partnership between entrepreneurial competence and entrepreneurship success to make a difference issue within organizational literatures. The above simple truth is evident in a number of available studies by scholars about them matter (e.g Crook, Todd, Combs, Woehr, and Ketchen, 2011; Rowley and mitchelmore, 2010; Enuoh and inyang, 2009; Laguna, Wiechetek, and Talik, 2013 e.t.c).

Many of these scholarly studies discovered entrepreneurship competences like communication competence, financial competence, marketing competence, business ethics competence, interpersonal responsibility competence, decision-making control and competence competence as catalysts to entrepreneurship success and countrywide development. We will be duelling on our discussion more on these entrepreneurial competences to observe how they individually donate to successful entrepreneurship, business success and national development.

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