A theoretical analysis of the relationship between entrepreneurial competencies and entrepreneurial actions: A proposed model

Abstract

Entrepreneurship research has long emphasized the importance of competencies. Unfortunately, the nature and role of competencies in the entrepreneurship process is somewhat fragmented and atheoretical. To fill these gaps, we outline a dynamic, integrative, and inclusive theoretical model, which draws on theories of social cognition, ambidexterity, human capital, and identity. Our model explains how metacompetencies shape entrepreneurial self-efficacy, which, in turn, drives specific entrepreneurial behavior, including entry, pivoting, persistence, and exit. We then develop propositions and discuss the model's implications for future competency research, training, and education. A key takeaway of our integrative model is that competencies acquired through experience and education are likely to enhance a prospective entrepreneur's self-efficacy, ambidexterity, human capital, and identity, all leading to greater entrepreneurial action.