Personal Entrepreneurial Competencies (PEC) among Entrepreneurs in Retail Business Sector in Malappuram District

The success, performance and growth of a firm depends upon the entrepreneurial competencies that an entrepreneur possess. Some researchers have suggested that an understanding of competencies that are exercised by the entrepreneurs leading successful small businesses can be used to support the development of those competencies, and has potential to, in turn, drive business growth (Churchill and Lewis, 1983; Low and MacMillan, 1988). Bird (1995) suggests that entrepreneurial competencies are defined as underlying characteristics such as specific knowledge, motives, traits, self-images, social roles and skills which result in venture birth, survival and/or growth. Man et al. (2002) defined entrepreneurial competencies as the total ability of the entrepreneur to perform a job role successfully. The purpose of this paper is to conduct an empirical research into the entrepreneurial competencies possessed by entrepreneurs in retail sector in Malappuram district which lead to the growth of their business. A questionnaire-based survey of entrepreneurs was conducted. The questionnaire contains a list of entrepreneurial competencies compiled from the Empretec methodology developed uniquely at Harvard University coupled with Likert scales through which the entrepreneurs were invited to rate their ability in relation to each competency. The Empretec methodology is based on the research conducted by a psychologist from Harvard University, Professor David McClelland, who had done extensive work on entrepreneurship since the late 1950s. The questionnaire identifies 10 key areas of competencies related to entrepreneurial development. These include: opportunity-seeking and initiative; persistence; fulfilment of commitments; demand for quality and efficiency; calculated risks; goal setting; information- seeking; systematic planning and monitoring; persuasion and networking; and independence and self-confidence. This study will offer a comprehensive analysis of the competencies of entrepreneurs by identifying all these competencies. The research will provide the basis for entrepreneur education and development of retail entrepreneurs