Entrepreneurial Competency Mapping: A Study with Reference to the Educated Youth of Tamil Nadu

Abstract

Entrepreneurial activity is a significant source of revenue and employment, and addresses the shortage of alternative employment possibility required to absorb young population. India has proved to have a relative advantage in terms of youth population distribution when compared to other countries. Competency mapping was the process of identifying key competencies for a specific job and it aided in identifying an individual's strengths and shortcomings, allowing them to better understand themselves and focus their efforts in order to be successful in their careers. The main objective of this was to map the competencies required to take up entrepreneurship as career / profession. The study also assessed the actual level of entrepreneurial competencies in the educated youth and identified gaps in competencies. Random sampling technique was adopted for the study with a total of 385 educated youth and 15 entrepreneurs from five districts in Tamil Nadu. A total of 20 desired entrepreneurial competencies in the early phase of entrepreneurial journey were identified and mapped. The sample educated youth were then assessed for the actual level of these competencies, and the results indicated that knowledge of schemes and incentives (4.13), negotiation skills (4.09), and knowledge of the legal business environment (4.03) were found to have the highest competency gap. It was suggested that entrepreneurship training and skill development programmes could shift their focus from overall skill development to developing targeted competencies necessary for specific phases in the entrepreneurial process.