What is a key competence – entrepreneurship?

Sense of initiative and entrepreneurship refers to an individual’s ability to turn ideas into action. It includes creativity, innovation and risk-taking, as well as the ability to plan and manage projects in order to achieve objectives. This supports individuals, not only in their everyday lives at home and in society, but also in the workplace in being aware of the context of their work and being able to seize opportunities, and is a foundation for more specific skills and knowledge needed by those establishing or contributing to social or commercial activity. This should include awareness of ethical values and promote good governance.

Essential knowledge, skills and attitudes related to this competence:

Necessary knowledge includes the ability to identify available opportunities for personal, professional and/or business activities, including ‘bigger picture’ issues that provide the context in which people live and work, such as a broad understanding of the workings of the economy, and the opportunities and challenges facing an employer or organization. Individuals should also be aware of the ethical position of enterprises, and how they can be a force for good, for example through fair trade or through social enterprise.

Skills relate to proactive project management (involving, for example the ability to plan, organize, manage, lead and delegate, analyse, communicate, debrief, evaluate and record), effective representation and negotiation, and the ability to work both as an individual and collaboratively in teams. The ability to judge and identify one’s strengths and weaknesses, and to assess and take risks as and when warranted, is essential.

An entrepreneurial attitude is characterized by initiative, pro-activity, independence and innovation in personal and social life, as much as at work. It also includes motivation and determination to meet objectives, whether personal goals, or aims held in common with others, including at work.