This research explores which entrepreneurial competencies are important for independent consultants to succeed in their projects. The topic is important because independent consultants' businesses are facing a high failure rate. Understanding which entrepreneurial competencies contribute to independent consultants' projects success can therefore increase their clients' satisfaction and impact the sustainability of their businesses. Although entrepreneurial competencies have been linked to the survival and success of new businesses, current research has not sufficiently examined which entrepreneurial competencies influence independent consultants’ project success. To our knowledge, there is a scarcity of qualitative research in this area. This gap limits our understanding of which entrepreneurial competencies are required for independent consultants to achieve success in their projects. Further exploration, particularly through qualitative methods, is needed to bridge this gap and provide deeper insights to the topic. To fulfill this, we formulated thefollowing research question: Which entrepreneurial competencies do independent consultants need to execute their projects successfully? We believe the more nuanced knowledge about this topic can help enhance project success and long-term business sustainability for independent consultants. In this research we hold a subjectivist and interpretivist perspective, and utilize an inductive and exploratory approach to explore the subject. The European Commissions’ framework “Entrepreneurship Competence Framework” (EntreComp) is used as a base to help us frame the interview guide and analysis. EntreComp helps us identify and understand entrepreneurial competencies. Taking the initiative, working with others, learning through experience, self-awareness & self-efficacy, mobilizing others, and creativity were found to be the key entrepreneurial competencies for independent consultants to succeed in their projects. Our findings also highlight the interconnectedness of these, along with other entrepreneurial competencies. This emphasized the importance for independent consultants to consider the entrepreneurial competencies interrelated relationships to achieve success in their project. Our research found that the entrepreneurial competencies vision and valuing ideas could be interpreted as having little to no importance for independent consultants and their project success. We also identified communication as an additional entrepreneurial competency of importance, previously not mentioned, and suggest its possible inclusion. Our research contributes to the field as it provides practical guidance for independent consultants in enhancing their project success, and may mitigate the risk of their business failure. The research can also foster discussion among academics, policymakers, and business support organizations about the support mechanisms needed to enhance the survival of new ventures. Lastly, it advocates for the development and integration of entrepreneurship education and training programs aimed at equipping aspiring entrepreneurs with essential entrepreneurial competencies to effectively navigate the competitive business environment.
| Identifer | oai:union.ndltd.org:UPSALLA1/oai:DiVA.org:umu-226717 |
| Date | January 2024 |
| Creators | Englund, Anna, Johansson, Linnea |
| Publisher | Umeå universitet, Företagsekonomi |
| Source Sets | DiVA Archive at Upsalla University |
| Language | English |
| Detected Language | English |
| Type | Student thesis, info:eu-repo/semantics/bachelorThesis, text |
| Format | application/pdf |
| Rights | info:eu-repo/semantics/openAccess |
Page generated in 0.0018 seconds