A Framework of entrepreneurial competencies: a case study of Cameroon

Abstract

Entrepreneurship impacts the economy of a country significantly by generating SMEs (small and medium enterprises). Since SMEs are the backbone of economic development and growth, governments worldwide, including Cameroon, implement programs, reforms, and structures to facilitate entrepreneurial activities. Despite the efforts of the Cameroonian government to support SMEs, 60% of new ventures fail within the first 3 years. A study by Neneh (2014) indicated that lack of entrepreneurial competencies and knowledge was among the leading factors contributing to the rate of failure of SMEs in Cameroon. Given that SMEs play a significant role in world economies, knowing and understanding the key entrepreneurial competencies required to start and grow a successful venture becomes critical. This dissertation aimed at building a context-based framework of key entrepreneurial competencies. The exploratory nature of

this study required a qualitative case study design and narrative analysis for reporting the results. Data collection was done using (a) in-depth interviews with 14 participants, (b) documents, and (c) observations. Successful entrepreneurs from the cities of Yaoundé and Douala were the participants purposively selected for this study. Findings highlighted the motivations of the entrepreneurs for starting their ventures, the key entrepreneurial competencies required to successfully start and grow a venture, and the behavioral patterns associated with the key entrepreneurial competencies. Finally, this study proposed a framework of the key entrepreneurial competencies based on opportunity-seeking competency (discovering opportunities and creating opportunities), learning competency (formal and informal trainings, experience, self-learning, and open-mindedness), relationship competency (networking, building customer’s trust, creating a positive work environment, dealing with people’s mind-set, and dealing with other parties), managerial competency (planning skills, organizing skills, leading skills, controlling, and hiring skills, training employees), market competition competency (conducting market research, creating a competitive edge, being strategically flexible), technical competency (technical expertise and managerial expertise), ethical competency (being honest and working with honest people), and personal competency (self-confidence, self-management, self-motivation, self-awareness, positive attitude, and humility). While some entrepreneurial competencies are strategic (market competition, learning, relationship, opportunity-seeking, and ethical), others are operational (technical, managerial, personal, and ethical). The framework also categorizes into knowledge (market competition and technical), skills (learning, relationship, opportunity-seeking,

managerial, and personal), and values (ethical both on a corporate and personal level). All of these were found to be critical for a successful entrepreneurial venture in Cameroon. The new framework on entrepreneurial competencies can inform policymakers, educational institutions, and SMEs to build viable and robust businesses.