Innovative Competence in Entrepreneurship

Entrepreneurship plays a significant role in society because it contributes to essential benefits. This activity can be defined as intentional actions upon ideas and opportunities to create financial, cultural, or social value for others (Bacigalupo et al., 2016). That is why the European Union and its Member States draw much attention to developing entrepreneurship among their citizens. Bacigalupo et al. (2016) offer a specific conceptual model that explains what competencies and skills entrepreneurs should have to succeed. These ideas are closely connected with innovation because entrepreneurs should rely on innovative approaches to create value. I can acknowledge that some of these ideas are examples of innovative competencies that I incorporate into my professional activity.

Creativity is an essential competence that can make a difference for entrepreneurs. According to Bacigalupo et al. (2016), this skill implies that individuals should develop creative and purposeful ideas to address existing challenges. I try to incorporate this competence into my professional activity through specific processes. Firstly, when I meet a challenge, I understand that the existing solutions may not be the best solution, which motivates me to analyze the situation and find innovative responses. Secondly, I combine resources and knowledge to understand how it is possible to achieve the required results. In particular, when I come across an interpersonal conflict in the workplace, I study literature to find traditional and non-traditional responses. I compare the alternatives and analyze the available resources to ensure that an innovative approach is suitable and can be successfully implemented.

The following competence, vision, is a powerful driver of my innovative approaches. Bacigalupo et al. (2016) explain that this concept implies efforts toward achieving the vision of the future. Since I am a dream chaser, I keep thinking about the future and imagining how good it will be without any problems. These dreams serve as motivation for my innovative practices since the ideal picture of the future makes me take steps to address the identified issues and inefficiencies. For example, when I know that there is an innovative technology or practice that my organization does not use, I start visualizing the benefits of implementing the solution. When the picture is created, I can share it among decision-makers so that the latter understand the initiative’s importance. That is why it is possible to mention that my competence contributes to innovation in the workplace.

Ethical and sustainable thinking is another competence that deserves attention. According to Bacigalupo et al. (2016), this aspect refers to the assessment of “the consequences and impact of ideas, opportunities, and actions” (p. 12). I understand that implementing innovation is not the leading objective. The main task is to ensure that new practices or technologies contribute to significant improvement. That is why prior to implementing any innovation, I do my best to predict the potential consequences of this action. I draw specific attention to whether the suggested intervention is likely to create value for various stakeholders. Furthermore, I analyze whether the chosen innovation is sustainable and responsible for individuals and companies. If all this information is present, I can advocate for a particular innovative practice or idea.

Motivation and perseverance play an important role in promoting innovation. As Bacigalupo et al. (2016) indicate, this competence denotes that individuals should stay focused on achieving the expected outcome. When I think that a specific innovative practice should be in place, I am determined to implement it. I am sure that I have the ability to turn these ideas into action. It is worth admitting that other colleagues or managers may not share the same opinion. This phenomenon makes me flexible and patient because it is necessary to make an effort to defend my viewpoint. That is why I invest in developing my communication skills to convince and influence others. This information demonstrates that the implementation of innovation can be a challenging task, but I have the required motivation and perseverance to succeed in the area.

The present competence is closely connected with the previous one since it is about mobilizing others. This area implies that it is necessary to inspire and enthuse others to become engaged in the process (Bacigalupo et al., 2016). It is not only sufficient to persuade others that a particular innovation is necessary. One should additionally ensure that other stakeholders are interested in achieving the stipulated outcome. In addition to excellent communication skills, this result can be reached with the help of advanced emotional intelligence and effective leadership. It is necessary to understand others’ emotions and feelings to know how and when to talk to them. Simultaneously, it is challenging to overestimate the significance of the ability to lead and control others. That is why I tend to read professional literature about how to master the two soft skills.

When the implementation of a particular initiative is under consideration, it is necessary to analyze the financial aspect of this action. Thus, financial and economic literacy should be mastered to understand the potential consequences of innovative practice (Bacigalupo et al., 2016). Even though I do not have any financial education, I do my best to be aware of leading financial concepts. In particular, when I offer to implement an innovative practice, I analyze its cost. Another practical approach is to perform a cost-benefit analysis to determine whether the selected intervention is worth physical and financial resources.

Planning and management represent the following competence that is closely connected to innovation implementation. As Bacigalupo et al. (2016) mention, this aspect denotes that it is necessary to prioritize, organize, and follow up. This competence manifests itself in a few specific steps and activities. One should establish short-, medium, and long-term goals and do their best to achieve them, which denotes that action plans are important here. I can state that I rely on these steps when innovation is under consideration. In particular, when I think about an intervention, I do my best to analyze the process in advance. I create a detailed action plan with specific steps and deadlines to demonstrate what and when should be performed to achieve the desired outcome.

Coping with uncertainty, ambiguity, and risk is additionally required to introduce innovation. When it is necessary to take a step that is expected to bring positive outcomes in the future, this process is always associated with risk. It is impossible to avoid such scenarios because people cannot control uncertainty. However, when I plan to bring an innovative practice, I take specific steps to address uncertainty and risks. I avoid making unprepared decisions because a careful analysis of the situation helps predict possible problems in the future and prepare me for them. I tend to read credible literature about the selected innovative practice and become familiar with the organizational environment to predict how an intervention will be implemented.

The final competence, learning through experience, is important because it is beneficial in the long run. This concept means that one should consider every initiative a learning opportunity and receive useful information from successes and failures (Bacigalupo et al., 2016). In particular, I understand that it is impossible to achieve positive outcomes with every attempt. That is why I am ready that a specific innovative intervention can be negative or result in failure. Even if this fact occurs, I derive benefits because adverse experience teaches me how to avoid failures in the future and introduce innovation more effectively.

In conclusion, this self-report demonstrates that my innovative competencies are developed and effective. This evidence and specific examples reveal that I draw sufficient attention to ensuring that I can introduce positive changes through innovative practices. Since the implementation of new processes and activities is a challenging and multi-faceted task, my competencies address various spheres. In particular, I invest in creativity, vision, work with others, financial literacy, as well as planning and management. These skills ensure that I can reckon on achieving positive outcomes by introducing innovations.

References

Bacigalupo, M., Kampylis, P., Punie, Y., & Van Den Brande, G. (2016). EntreComp: The entrepreneurship competence framework. Publication Office of the European Union. Web.

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