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Entrepreneurship - Competency

Definition: Entrepreneurship is the ability to recognize opportunities, envision new possibilities, and innovate in ways that create meaningful value for the organization. It involves navigating uncertainty with confidence and strategic insight, using independence, resourcefulness, initiative, and sound business judgment to move ideas from concept to execution. Entrepreneurial managers build strong relationships, influence others, and continually improve systems and themselves while persistently advancing opportunities despite obstacles. Ultimately, Entrepreneurship is defined by the courage to take risks, the discipline to deliver results, and the commitment to cultivate an enterprising, customer‑oriented environment where new ideas can thrive.
Organizational Skills
Business Acumen
Strategic Focus
Strategic Insight
Entrepreneurship
Company
Organizational Fluency
Fiscal Management
Continuous Improvement
Information Technology
Planning
Vision
Global Perspective
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360-Feedback Surveys Measuring Entrepreneurship:
Survey 1 (4-point scale; Competency Comments)
Survey 2 (4-point scale; Competency Comments)
Survey 3 (5-point scale; Competency Comments)
Survey 4 (5-point scale; radio buttons)
Survey 5 (4-point scale; words)
Survey 6 (4-point scale; words)
Survey 7 (5-point scale; competency comments; N/A)
Survey 8 (3-point scale; Agree/Disagree words; N/A)
Survey 9 (3-point scale; Strength/Development; N/A)
Survey 10 (Comment boxes only)
Survey 11 (Single rating per competency)
Survey 12 (Slide-bar scale)
Survey 13 (4-point scale; numbers; floating anchors)
Survey 14 (4-point scale; N/A)
Performance Assessments that include Entrepreneurship:
Assessment 1 (5-point scale; IDP Comments)
Assessment 2 (3-point scale with Comments)
Assessment 3 (Manager Assessment; 360-Feedback)
Assessment 4 (3-point scale; Rating Limits)
Assessment 5 (3-point scale; Rating Limits)
Assessment 6 (5-point scale with Comments)
Assessment 7 (Comment Boxes Only; IDP)
Assessment 8 (Comment Boxes Only)
Assessment 9 (3-point scale with Letter Grade)
Assessment 10 (360-Feedback; Bonus/Merit Pay)
Assessment 11 (Core Values & Job Competencies)
Assessment 12 (4-point scale; 6 Comment Boxes)
What is Entrepreneurship?
Entrepreneurship is the ability to recognize opportunities by spotting problems that need to be solved, identifying issues that require attention, and envisioning new possibilities that others may overlook. It begins with innovation and value creation--conceiving and launching new products, services, and approaches that strengthen the organization's capabilities, meet real business needs, and generate meaningful impact. This work is guided by a compelling vision, reinforced by strategic insight, and sustained by the capacity to handle uncertainty with balanced judgment, confidence, and forward momentum even when outcomes are unclear.

Entrepreneurship also depends on personal qualities that drive progress: persistence in the face of shifting conditions, independence in evaluating opportunities and challenging conventions, and resourcefulness in finding creative ways around barriers. It thrives on strong interpersonal relationships that build trust, encourage open input, and energize people around new ideas. Through initiative, business acumen, and authentic influence, entrepreneurs mobilize others, cultivate early-stage ideas into viable opportunities, and adapt strategies to changing environments.

Finally, entrepreneurship is a disciplined commitment to risk taking, entrepreneurial thinking, and continual improvement, supported by high learning agility and the ability to adjust based on real-time feedback. It requires translating strategic concepts into actionable steps, coordinating execution, and taking responsibility for outcomes. At its core, entrepreneurship is defined by the drive to deliver results--creating solutions that differentiate the organization, advance its mission, and turn promising concepts into measurable, market-ready achievements.
Core Components of Entrepreneurship
  • Recognizes Opportunities: Recognizes Opportunities focuses on an employee's ability to see what others miss--spotting unmet needs, emerging trends, hidden problems, and potential improvements before they become obvious. It is fundamentally about perception, insight, and early identification: noticing issues that need to be addressed, seeing potential in difficult situations, and translating signals in the environment into actionable possibilities.
  • Innovates: Innovates is about creating something new in response to those openings--designing novel products, services, processes, or approaches that expand capabilities and strengthen the organization's competitive position. It involves generating original ideas, championing new offerings, and transforming concepts into forward-looking solutions that succeed in the marketplace.
  • Value Creation: Value Creation is about turning ideas into tangible, sustainable business impact. It focuses on developing offerings that generate revenue, strengthen the organization's value proposition, and meet real customer or business needs.
  • Vision: Vision is about imagining what the future could look like and helping others see it clearly. It involves articulating compelling possibilities, spotting emerging trends early, framing why an initiative matters, and guiding people through the journey from idea to prototype to scalable solution.
  • Handles Uncertainty: Handles Uncertainty is about how an employee functions when clarity is missing. It focuses on staying composed, making progress, and making sound judgments when information is incomplete, conflicting, or rapidly changing.
  • Strategic Insight: Strategic Insight is about how an employee thinks strategically within that uncertainty. It focuses on evaluating ideas through long-term organizational goals, understanding competitive dynamics, and selecting initiatives that strengthen the organization's strategic position.
  • Persistent: Persistent describes how an employee continues moving forward despite obstacles, delays, ambiguity, or adversity. It is about sustained effort, resilience, and the determination to keep progressing even when results are slow, conditions shift, or challenges multiply.
  • Independence: Independence describes how an employee initiates and drives work on their own, without needing direction, reassurance, or established pathways. It emphasizes self-direction, original thinking, and the willingness to deviate from norms or conventions when a better approach exists.
  • Resourcefulness: Resourcefulness is about finding a way forward using whatever is available. It focuses on creatively solving problems, repurposing existing capabilities, securing needed resources, and turning promising ideas into viable, commercially successful offerings.
  • Interpersonal Relationships: Interpersonal Relationships is about working effectively with people to advance entrepreneurial efforts. It emphasizes building trust, collaborating across departments, inviting diverse perspectives, maintaining open communication, and creating an environment where others feel safe contributing ideas or concerns.
  • Initiative: Initiative is about taking action proactively -- stepping forward before being asked, driving ideas into motion, and pushing work ahead even when the path is unclear. It emphasizes personal drive, early movement, and the willingness to lead new efforts, tackle difficult assignments, and transform how work gets done.
  • Business Acumen: Business Acumen is about making smart, strategically aligned decisions that ensure entrepreneurial efforts create real, sustainable value. It focuses on understanding markets, customers, competitive dynamics, financial implications, and the stages of business development.
  • Confidence: Confidence is about an employee's inner belief -- belief in themselves, in their vision, and in their ability to navigate uncertainty and lead others through it. It shows up as clarity of purpose, steadiness during transitions, and the ability to help teams stay motivated when ideas are untested or conditions shift.
  • Risk Taking: Risk Taking is about an employee's willingness to act boldly in uncertain or high-stakes situations. It focuses on balancing risk and reward, stepping outside comfort zones, experimenting with unconventional approaches, and making decisive moves even when information is incomplete.
Why is Entrepreneurship Important?
Entrepreneurship is important in a company because it fuels innovation, adaptability, and long-term relevance in a constantly shifting environment. Entrepreneurial employees spot emerging opportunities, identify problems that need solving, and bring forward new ideas that strengthen the organization's portfolio and create meaningful value. This mindset helps companies avoid stagnation by encouraging experimentation, calculated risk taking, and the ability to navigate uncertainty with confidence and strategic clarity. In fast-moving markets, that combination of opportunity recognition and innovation becomes a core competitive advantage.

Entrepreneurship also strengthens organizational execution and culture. People who think entrepreneurially take initiative, persist through obstacles, and mobilize others around compelling ideas, creating momentum that pushes the company forward. They combine business acumen, resourcefulness, and learning agility to turn early-stage concepts into real solutions that deliver measurable results. Over time, this builds a culture of continual improvement--one where teams are empowered to challenge assumptions, improve processes, and create differentiated products and services that keep the organization ahead of its competitors.
What are key aspects of Entrepreneurship?
  • Recognizes Opportunities
  • Innovates
  • Value Creation
  • Vision
  • Handles Uncertainty
  • Strategic Insight
  • Persistent
  • Independence
  • Resourcefulness
  • Interpersonal Relationships
  • Initiative
  • Business Acumen
  • Confidence
  • Influence
  • Risk Taking
  • Entrepreneurial Thinking
  • Continual Improvement
  • Learning Agility
  • Execution
  • Delivers Results
How can I improve my Entrepreneurship?
  • Recognize Opportunities: Strengthen your opportunity recognition by training yourself to notice problems, gaps, and emerging needs. Make it a habit to ask "what's missing here?" or "what could work better?" in everyday situations.
  • Innovate: Build your innovation muscle by experimenting with small, low-risk ideas regularly. Treat each experiment as a learning cycle rather than a pass/fail test, and look for ways to extend your team's or department's capabilities.
  • Be Strategic: Develop strategic insight by connecting your ideas to long-term organizational goals. Practice evaluating concepts not just for novelty, but for how they create value, differentiate the organization, or support future growth.
  • Tolerate Uncertainty: Increase your comfort with uncertainty by taking action before everything is perfect. Start with partial information, make a thoughtful first move, and adjust based on what you learn along the way.
  • Show Initiative: Strengthen initiative and independence by proactively pursuing ideas without waiting for permission. When you see an opportunity, outline a plan, gather resources, and take the first steps to move it forward.
  • Learn: Deepen your learning agility by seeking out unfamiliar situations, stretch assignments, and real-time feedback. Use each new environment to refine your approach, adapt your communication, and expand your problem-solving range.
  • Execute and be Accountable: Improve execution and results by breaking big ideas into clear, actionable steps. Prioritize what matters most, delegate when appropriate, and hold yourself accountable for delivering outcomes that make a measurable difference.
What are the benefits of Entrepreneurship?
Entrepreneurship benefits a company by making it more adaptable, innovative, and capable of turning ideas into meaningful value. When people think and act entrepreneurially, they help the organization stay competitive, responsive to customers, and resilient in the face of uncertainty.
  • Drives innovation that keeps the organization ahead of competitors. Entrepreneurial thinking encourages new products, services, and approaches that expand capabilities and open new opportunities.
  • Strengthens opportunity recognition across the company. Employees become more skilled at spotting problems, unmet needs, and emerging trends that can be turned into strategic advantages.
  • Builds a culture of initiative and ownership. People take responsibility for moving ideas forward, reducing bottlenecks and increasing the organization's overall speed and agility.
  • Improves adaptability in uncertain or rapidly changing environments. Entrepreneurial teams make progress without waiting for perfect information, adjusting quickly as conditions evolve.
  • Enhances value creation for customers and stakeholders. By focusing on meaningful impact, entrepreneurial employees develop solutions that differentiate the organization and strengthen its market position.
  • Increases organizational learning and continuous improvement. Experimentation, feedback, and learning agility become part of everyday work, raising the performance of individuals and teams.
  • Boosts execution and results. Entrepreneurs break big ideas into actionable steps, mobilize others, and deliver measurable outcomes that advance the company's goals.
Overall, entrepreneurship helps a company grow stronger, smarter, and more future-ready. It builds the mindset and behaviors that turn possibility into progress and progress into sustained success.
What questions could you consider for including on a 360-degree feedback assessment regarding Entrepreneurship?
The questionnaire items below will measure competence in Entrepreneurship. These questions are grouped into different facets of feedback. When creating a 360-degree or other performance assessment, try to select one or two items from each group.

360-Feedback questions that measure Entrepreneurship



Recognizes Opportunities
Recognizes Opportunities focuses on an employee's ability to see what others miss--spotting unmet needs, emerging trends, hidden problems, and potential improvements before they become obvious. It is fundamentally about perception, insight, and early identification: noticing issues that need to be addressed, seeing potential in difficult situations, and translating signals in the environment into actionable possibilities. This dimension is about awareness and discovery, the ability to recognize openings for value creation long before solutions exist.


Innovates
Innovates is about creating something new in response to those openings--designing novel products, services, processes, or approaches that expand capabilities and strengthen the organization's competitive position. It involves generating original ideas, championing new offerings, and transforming concepts into forward-looking solutions that succeed in the marketplace. While Recognizes Opportunities identifies what could be, Innovates builds what will be, turning insight into tangible, differentiated outcomes.


Value Creation
Value Creation is about turning ideas into tangible, sustainable business impact. It focuses on developing offerings that generate revenue, strengthen the organization's value proposition, and meet real customer or business needs. This dimension emphasizes execution, commercial viability, and the ability to transform concepts into products, services, or improvements that create measurable value for the organization over time.


Vision
Vision is about imagining what the future could look like and helping others see it clearly. It involves articulating compelling possibilities, spotting emerging trends early, framing why an initiative matters, and guiding people through the journey from idea to prototype to scalable solution. Vision is about setting direction, inspiring belief, and identifying which opportunities are worth pursuing before the value is realized.


Handles Uncertainty
Handles Uncertainty is about how an employee functions when clarity is missing. It focuses on staying composed, making progress, and making sound judgments when information is incomplete, conflicting, or rapidly changing. This dimension emphasizes comfort with ambiguity, the ability to avoid paralysis, and the skill of interpreting weak signals or emerging patterns without becoming stalled. In essence, it describes how someone operates in uncertain conditions--maintaining momentum, confidence, and solution-orientation even when the path forward is not fully defined.


Strategic Insight
Strategic Insight is about how an employee thinks strategically within that uncertainty. It focuses on evaluating ideas through long-term organizational goals, understanding competitive dynamics, and selecting initiatives that strengthen the organization's strategic position. This dimension emphasizes commercial judgment, market awareness, and the ability to convert strategic ideas into meaningful outcomes that differentiate the organization. it describes how someone makes strategically intelligent choices--identifying which opportunities matter, how they fit into the bigger picture, and how they advance the organization's long-term success.


Persistent
Persistent describes how an employee continues moving forward despite obstacles, delays, ambiguity, or adversity. It is about sustained effort, resilience, and the determination to keep progressing even when results are slow, conditions shift, or challenges multiply. This dimension focuses on endurance -- staying committed to goals, finding alternative paths when blocked, maintaining motivation over long innovation cycles, and refusing to quit when things get difficult. Persistence is about sticking with the work until the idea becomes reality.


Independence
Independence describes how an employee initiates and drives work on their own, without needing direction, reassurance, or established pathways. It emphasizes self-direction, original thinking, and the willingness to deviate from norms or conventions when a better approach exists. This dimension focuses on autonomy -- taking action before being asked, using personal judgment to solve problems, and moving ideas forward based on one's own analysis rather than relying on others. In essence, Independence is about charting your own course rather than waiting for permission or guidance.


Resourcefulness
Resourcefulness is about finding a way forward using whatever is available. It focuses on creatively solving problems, repurposing existing capabilities, securing needed resources, and turning promising ideas into viable, commercially successful offerings. This dimension is internally driven: it reflects an employee's ability to navigate constraints, optimize time and tools, and engineer solutions that keep entrepreneurial initiatives moving. Resourcefulness is about inventive problem-solving and making progress despite limitations.


Interpersonal Relationships
Interpersonal Relationships is about working effectively with people to advance entrepreneurial efforts. It emphasizes building trust, collaborating across departments, inviting diverse perspectives, maintaining open communication, and creating an environment where others feel safe contributing ideas or concerns. This dimension is relational: it reflects an employee's ability to form alliances, gain support for new initiatives, and overcome organizational barriers through strong human connections. In essence, Interpersonal Relationships is about mobilizing people, not just resources, to move innovation forward.


Initiative
Initiative is about taking action proactively -- stepping forward before being asked, driving ideas into motion, and pushing work ahead even when the path is unclear. It emphasizes personal drive, early movement, and the willingness to lead new efforts, tackle difficult assignments, and transform how work gets done. This dimension reflects an employee's instinct to act: identifying emerging opportunities, removing obstacles, accelerating progress, and moving concepts into prototypes or early execution. In essence, Initiative is about creating momentum and ensuring that entrepreneurial ideas do not stall.


Business Acumen
Business Acumen is about making smart, strategically aligned decisions that ensure entrepreneurial efforts create real, sustainable value. It focuses on understanding markets, customers, competitive dynamics, financial implications, and the stages of business development. This dimension reflects an employee's ability to evaluate ideas through a commercial lens, build viable business solutions, allocate resources wisely, and adapt the department to changing business conditions. Business Acumen is about choosing the right opportunities and shaping them into profitable, strategically meaningful outcomes.


Confidence
Confidence is about an employee's inner belief -- belief in themselves, in their vision, and in their ability to navigate uncertainty and lead others through it. It shows up as clarity of purpose, steadiness during transitions, and the ability to help teams stay motivated when ideas are untested or conditions shift. This dimension is internally anchored: it reflects self-assurance, resilience, and the ability to project calm conviction that encourages others to trust the direction being taken. In essence, Confidence is about the strength of the leader's mindset and how that steadiness supports entrepreneurial progress.


Influence
Influence is about an employee's external impact on others -- their ability to persuade, energize, mobilize, and build momentum around innovative ideas. It focuses on shaping how people perceive opportunities, gaining buy-in, reframing challenges, and inspiring action across teams and stakeholders. This dimension is relational and motivational: it reflects charisma, communication, and the ability to rally people around new concepts or strategic shifts. Influence is about moving others, not just believing in oneself, and is essential for turning entrepreneurial ideas into collective action.


Risk Taking
Risk Taking is about an employee's willingness to act boldly in uncertain or high-stakes situations. It focuses on balancing risk and reward, stepping outside comfort zones, experimenting with unconventional approaches, and making decisive moves even when information is incomplete. This dimension reflects courage, judgment, and the readiness to pursue opportunities that carry meaningful upside but also real exposure. In essence, Risk Taking is about the actions someone takes when facing uncertainty -- pushing boundaries, accepting personal and organizational risk, and enabling others to do the same.


Entrepreneurial Thinking
Entrepreneurial Thinking is about the mindset and environment an employee creates -- one that encourages creativity, customer focus, optimism, and a continual search for new ways to generate value. It emphasizes fostering an enterprising culture, stimulating idea generation, reframing challenges as opportunities, and aligning innovation with the organization's mission and long-term goals. This dimension is less about personal boldness and more about shaping how the team approaches problems, possibilities, and growth. Entrepreneurial Thinking is about cultivating the conditions for innovation, not just taking risks within it.


Continual Improvement
Continual Improvement is about ongoing learning, refinement, and enhancement -- both personally and within systems, processes, and products. It emphasizes curiosity, iteration, and the discipline to revisit ideas, gather feedback, and make them better over time. This dimension reflects a growth mindset: monitoring change, seeking skill development, treating failures as learning opportunities, and constantly looking for ways to elevate performance or customer experience. In essence, Continual Improvement is about evolving ideas and capabilities so that innovation becomes stronger with each cycle.


Learning Agility
Learning Agility is about how an employee learns and adapts in motion--rapidly absorbing new information, reframing assumptions, and adjusting strategies as conditions shift. It emphasizes experimentation, real-time feedback loops, and the ability to pivot quickly when evidence changes or when early tests reveal new insights. This dimension reflects cognitive flexibility and a willingness to update one's approach continuously, treating every success or failure as data that sharpens future decisions. In essence, Learning Agility is about evolving thinking at the speed of the environment.


Execution
Execution is about turning ideas into action and delivering on commitments. It focuses on breaking down strategic concepts into practical steps, delegating effectively, maintaining energy and focus, and driving work to completion. This dimension reflects operational discipline: taking charge, moving initiatives forward, and ensuring that goals are achieved rather than remaining conceptual. Execution is about making things happen -- converting plans into results through consistent, purposeful action.


Delivers Results
Delivers Results is about driving work to completion and producing meaningful outcomes for the organization. It focuses on accountability, follow-through, prioritization, and the discipline to convert ideas into market-ready solutions that achieve measurable impact. This dimension reflects determination, resource allocation, and the ability to stay invested in initiatives until they deliver real value. Delivers Results is about ensuring that entrepreneurial efforts don't just generate learning or momentum--they ultimately create tangible, high-impact results.
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