According a “higher level characteristic encompassing personality

to Mitchelmore and Rowley (2010), one of the main drivers for research on
entrepreneurial competencies is their supposed relationship to business
success. This review confirms this observation; all articles in this review use
some measure of business success as a dependent variable. Moreover, several new
competences have been discovered and assessed empirically for association with
business success. This review has identified 66 different competencies, see Figure 8.

As can be
seen in the top left corner of Figure 8, seven studies consistently build
on previous work, in this case the conceptual work of Man et al. (2002). This
stream of research presents the strongest evidence for a relationship between entrepreneurial
competencies and business success to date. Man et al. (2002, p. 124) define
entrepreneurial competencies as a “higher level characteristic encompassing
personality traits, skills and knowledge” and propose that entrepreneurial
competencies should be seen as “the total ability of the entrepreneur to
perform the job role successfully” (ibid., p. 124).

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Based on a
literature review, Man et al. (2002) divide this “total ability” into six broad
areas of competencies: opportunity competencies, relationship competencies,
conceptual competencies, organizing competencies, strategic competencies and commitment
competencies. See Table 2 for a detailed description of the

Building on
this conceptual foundation, Man et al. (2008) found opportunity, relationship,
innovation and human competencies to be positively associated with SME investment
efficiency, business growth, and relative performance. Sánches (2012) found
that opportunity, relationship, analytical, operational, strategic and personal
strength competencies of the owner-manager indirectly and directly enhances SME
investment efficiency, business growth, and relative performance.