readiness inventory for successful entrepreneurship (rise ...entrepreneur’s skills are developed...

John Praed Foundation • 550 N Kingsbury Street, #101, Chicago, IL 60654 • www.praedfoundation.org

Readiness Inventory for Successful Entrepreneurship (RISE) for Social Entrepreneurs

Praed Foundation 2013, 2019

2019 REFERENCE GUIDE

John Praed Foundation • 550 N Kingsbury Street, #101, Chicago, IL 60654 • www.praedfoundation.org

ACKNOWLEDGEMENTS

The Readiness Inventory for Successful Entrepreneurship (RISE) is an open domain tool designed for better understanding of the relevant skills for the developing entrepreneur and to monitor evolution of these skills over time. The copyright is held by the Praed Foundation to ensure that it remains free to use.

We are committed to creating a diverse and inclusive environment. It is important to consider how we are precisely and inclusively using individual words. As such, this reference guide uses the gender-neutral pronouns “they/them/themselves” in the place of “he/him/himself” and “she/her/herself.”

For specific permission to use please contact the Praed Foundation. For more information on the RISE contact:

John S. Lyons, PhD Director, Center for Innovation in Population Health Professor, Health Management & Policy College of Public Health University of Kentucky [email protected] Thomas, Lyons, PhD Clarence E. Harris Chair of Excellence in Entrepreneurship Professor, Marketing & Entrepreneurship Gary W. Rollins College of Business University of Tennessee at Chattanooga [email protected]

Praed Foundation http://praedfoundation.org [email protected]

mailto:[email protected]

mailto:[email protected]

http://praedfoundation.org/

Readiness Inventory for Successful Entrepreneurship (RISE) for Social Entrepreneurs 3

TABLE OF CONTENTS

ACKNOWLEDGEMENTS ........................................................................................................... 2

INTRODUCTION ......................................................................................................................... 4 THE RISE .................................................................................................................................. 4 SIX KEY PRINCIPLES OF THE RISE .................................................................................. 4

REFERENCES .................................................................................................................................. 5

RISE CORE ITEMS ......................................................................................................................... 6

Transformational Management Skills ......................................................................................... 7

Relationship Management Skills ................................................................................................. 14

Business Management Skills ....................................................................................................... 18

Organizational Process Management Skills ............................................................................. 22


INTRODUCTION THE RISE

The Readiness Inventory for Successful Entrepreneurship (RISE) is an assessment process designed to allow the understanding of relevant skills for the developing entrepreneur and to monitor evolution of these skills over time. The RISE represents a strategy within a skills-based theory of entrepreneur development, which holds that success in entrepreneurship correlates with the level of skill of the entrepreneur. Further, skills weaknesses can be measured in a way that permits direct action toward their development. Research has shown that as an entrepreneur’s skills are developed to a higher level, their business’s total and median sales increase by multiples (Kutzhanova et al, 2009). The premise of this conceptual framework is that while most entrepreneurs require business models and startup capital for success, these necessities are insufficient to optimize the likelihood that their business will attain its goals. Entrepreneurs must have the necessary skills to use these resources effectively.

SIX KEY PRINCIPLES OF THE RISE Unlike traditional measurement approaches, the RISE is designed from the communimetric theory of measurement (Lyons, 2009). The concept of communimetrics is that measurement’s primary goal is to communicate. In research, the measurement communicates among scientists. When you take measurement out of the laboratory, however, the nature of communication changes. Communimetrics is intended for practice applications of measurement to enhance their value in an information culture context. As such, communimetric measures have key principles that make them distinct from traditional measures. Here are the key characteristics as they apply to the RISE.

1. The RISE is designed to be reliable and valid at the item level. Each item is selected because it is a meaningful indicator of some important information. In the case of the RISE, the items reflect key entrepreneur skills that have been identified in the literature on entrepreneur development.

2. The levels of each item translate immediately into action levels. The four action levels for the RISE are

0 = No evidence of the skill.

1 = Individual has some aspects of the skill but it is not currently useful.

2 = Individual has this skill.

3 = Individual has mastered this skill.

3. It is about the person not about the person with supports. Skills are described for the individual. If the individual has put supports in place to compensate for a lacking skill, the lacking skill is described, not the fact that the person has compensated for that absence.

4. The skill development ratings should be done within a cultural and developmental context.

5. It’s about the ‘What’ not the ‘Why’. The skill development ratings are description and do not have any etiological aspects.

6. Skills are rated with a 30-day rating period. Is this skill operable in the past 30-days. Evidence for a useful skill could be from outside of this window of observation however, it must be clear that the skill is still operable to describe it as useful.

Although the RISE can be completed independently by either the entrepreneur or their coach, it is best used as a consensus between the entrepreneur and coach, thus providing an assessment framework that reinforces a skills development approach to entrepreneur coaching. By understanding the status of an entrepreneur’s skills, that entrepreneur can understand how they should focus their development and the coach can help them secure those needed skills either through personal development or teaming.


REFERENCES Kutzhanova, N., Lyons, T.S., & Lichtenstein, G.A. (2009). Skill-based development of entrepreneurs and the role of

personal and peer group coaching in enterprise development. Economic Development Quarterly 23 (3), 193-210.

Lichtenstein, G.A., & Lyons, T.S. (2010). Investing in entrepreneurs: A strategic approach for strengthening your regional and community economy. Santa Barbara, CA: Praeger/ABC-CLIO. Lyons, T.S., Lyons, J.S., & Jolley, G.J. (2019). The Readiness Inventory for Successful Entrepreneurship (RISE): A tool for university engagement in entrepreneurial learning. Journal of Economic Development in Higher Education, 7 (July): 1-7.


RISE CORE ITEMS

Transformational Management Skills Problem Solving Passion/Charisma Leadership Moral Compass Flexibility & Adaptability Resiliency Moral Judgment Knowledge as a Resource Resourcefulness Empathic Understanding Creativity Self-Awareness Persistence/Relentlessness Innovation

Relationship Management Skills

Networking Capacity Building and Maintaining Accountability Levering Exiting Partnerships Reputation Teaming Resource Leveraging Comm. Involvement & Influence

Business Management Skills

Knowledge of Field/Industry Finances Technology-Enabled Business Mgt. Knowledge of Law/Regulations Marketing/Communications Accounting/Bookkeeping Operations Management

Organizational Process Management

Internal Communication Decision Making Performance & Disciplined Action Process Design Conflict & Conflict Resolution


Transformational Management Skills

1. PROBLEM SOLVING This item refers to the ability to think strategically and play out multiple scenarios, understanding the potential consequences, to create possible solutions to obstacles.

0 No evidence of the skill. The individual struggles with solving problems. They might have trouble seeing all available solutions or anticipating the sequencing of solving complex problems.

1 Individual has some aspects of the skill, but it is not currently useful. The individual has some problem-solving skills but is no able to consistently creative and effective solutions. They may only anticipate immediate consequences of proposed solutions .

2 Individual has this skill. The individual has good problem-solving skills. They may show creativity and can anticipate consequences of choices beyond the short term.

3 Individual has mastered this skill. The individual has outstanding problem-solving skills. They think strategically and are able to play out multiple creative alternative solutions in future consequences related to the potential impact of a possible solution..

2. MORAL COMPASS This item refers to the individual’s ability to promote, live, and work by the highest moral and ethical standards. Able to embed ethical practices into the enterprise’s culture and processes.

0 No evidence of the skill. The individual may occasionally turn a blind eye to ethical shortcomings. Financial incentives, self-interest or other influences may override ethical considerations. Unethical behavior can include any of the following: Saying things known not to be true; Giving/allowing false impressions Hiding/divulging information Buying influence Engaging in conflict of interest Taking unfair advantage; Abusing people Permitting organizational abuse Violating laws, including theft.

1 Individual has some aspects of the skill, but it is not currently useful. The individual follows the law. Ethical considerations that go beyond legal mandates are not given much consideration.

2 Individual has this skill. The individual promotes high ethical standards for the organization. Ethical practices are evident in its culture and practices. The individual recognizes moral dilemmas in decision-making and provides ways for these to be discussed and resolved. The individual recognizes and addresses unethical behavior. The individual is a responsible community member. [continues]


MORAL COMPASS continued 3 Individual has mastered this skill.

The individual is proactive in promoting, living and working by the highest ethical standards. They have embedded ethical practices into their culture and processes. The individual invites discussion of moral dilemmas in decision-making and provides ways for these to be resolved. Ethical issues have been addressed in training and educational venues. The individual promptly recognizes and addresses unethical behavior. Their organization goes above and beyond its duties and responsibilities, seeking ways to become a more responsive employer (where applicable) and community member.

3. MORAL JUDGMENT This item refers to the individual’s drive to right something that is perceived as wrong. Pursuing efforts that are clearly stimulated and supported by a sense of moral responsibility.

0 No evidence of the skill. The individual cannot identify a societal problem that they wish to address.

1 Individual has some aspects of the skill, but it is not currently useful. The individual is able to articulate societal challenges that the enterprise might address.

2 Individual has this skill. The individual has a belief that there are societal challenges that their enterprise can address, but the righting of these wrongs is tempered by other considerations.

3 Individual has mastered this skill. The individual is ‘on a mission’ to right something that they perceive as wrong. They feel strongly that ‘right’ is on their side in their enterprise. Their efforts are clearly stimulated and supported by a sense of moral responsibility.

4. EMPATHIC UNDERSTANDING This item refers to the individual having a clear empathic appreciation for a target social cause. The ability to feel another’s pain.

0 No evidence of the skill. The individual lacks any empathic understanding of their social cause.

1 Individual has some aspects of the skill, but it is not currently useful. The individual has a limited empathic understanding of their target social cause.

2 Individual has this skill. The individual has an empathic understanding of their target social cause.

3 Individual has mastered this skill. The individual has a clear empathic understanding of their target social cause. Their mission and vision align with this understanding, and it drives their social venture in all respects.


5. PERSISTENCE/RELENTLESSNESS This item refers to the individual’s determination, once an objective is set, to do anything possible to succeed. The ability to use adversity as a resource, drawing motivation to work harder through challenges..

0 No evidence of the skill. The individual does not show persistence in the face of challenges. They tend to move to new projects when they decide a current project is not going to work. Their threshold for such decisions is low.

1 Individual has some aspects of the skill, but it is not currently useful. The individual has limited persistence. They will try multiple times with the same or different strategies to overcome challenges.

2 Individual has this skill. The individual is persistent. They will try multiple times using different strategies in order to be successful. They will be hesitant to ever give up on a challenge.

3 Individual has mastered this skill. The individual is relentless. If they set their sights on an objective, they will do everything in their power to succeed. They will never quit in the face of adversity. In fact, the individual uses adversity to motivate themselves to work through challenges.

6. PASSION/CHARISMA This item refers to the individual’s zealous drive towards a goal; the ability to compel and inspire others by one’s personality and ability to communicate that goal.

0 No evidence of the skill. The individual has limited or no charisma and is challenged to express passion for the mission of the enterprise.

1 Individual has some aspects of the skill, but it is not currently useful. The individual has some charisma or is at times able to clearly communicate passion for the mission of the enterprise.

2 Individual has this skill. The individual is likable and draws people to them. They are clearly and consistently passionate for the mission of the enterprise.

3 Individual has mastered this skill. The individual is charismatic and passionate. Their passion is contagious. Others describe them as inspiring.


7. FLEXIBILITY/ADATABILITY TO CHANGE This item refers to the individual’s ability to assess changes in a situation and modify actions accordingly; resolving negative emotions and embracing differences.

0 No evidence of the skill. The individual shows no evidence of ability to adapt to changes occurring in their life or routine or to deal with unresolved feelings/emotions related to changes. The individual is rigid and structures in their approach to all things.

1 Individual has some aspects of the skill, but it is not currently useful. The individual has significant difficulty adjusting to changes in their life. Requires on-going or intensive support to resolve feelings and emotions related to change. Change may be a known trigger for this individual.

2 Individual has this skill. The individual may have mild difficulties adapting to change or may require a moderate level of support to process alterations in routine or life changes. No long-term difficulties. The individual may be hesitant to embrace change.

3 Individual has mastered this skill. The individual is flexible and is able to easily resolve feelings/emotions related to changes in their life. Adapts well when changes are made to usual routine. The individual savors change as a positive life experience.

8. KNOWLEDGE AS A RESOURCE This item refers to the individual’s ability to harness the development and share knowledge as a core strategy to achieve a goal.

0 No evidence of the skill. The individual treats knowledge as a source of power. They collect it but do not share it unless forced.

1 Individual has some aspects of the skill, but it is not currently useful. The individual has some flexibility with their understanding of the role of knowledge in complex systems but often struggles with understanding how to use it effectively, or they may occasionally hold information for strategic reasons such as a lack of trust of others.

2 Individual has this skill. The individual has a clear understanding that knowledge is a resource best shared in social entrepreneurship.

3 Individual has mastered this skill. The individual has a vision of developing and sharing knowledge as a key business strategy within their enterprise.


9. CREATIVITY This item describes the individual’s vision to use unique and alternative perspectives to create a new strategy or to progress in an existing situation; invention.

0 No evidence of the skill. The individual demonstrates little or no creativity. They are a conventional thinker.

1 Individual has some aspects of the skill, but it is not currently useful. The individual has some creativity. They may sometimes come up with creative ideas but seldom have the confidence in them.

2 Individual has this skill. The individual is creative. They commonly have clever or non-conventional ideas that have potential for enterprise applications.

3 Individual has mastered this skill. The individual is very creative. Some might describe them as brilliant in their ability to see things in a unique manner that facilitates progress or to recognize enterprise opportunities.

10. INNOVATION This item refers to the individual’s ability to produce creative ideas, then implement in strategic planning and actions, efficiently and effectively.

0 No evidence of the skill. The individual has demonstrated no ability to bring good ideas to reality.

1 Individual has some aspects of the skill, but it is not currently useful. The individual has demonstrated some innovation, perhaps retooling others’ ideas for greater efficiency.

2 Individual has this skill. The individual is innovative and able to take creative ideas and bring them to production/fruition.

3 Individual has mastered this skill. The individual has a track record of having creative ideas that they are able to rapidly bring to production/fruition in an efficient and effective manner.

11. LEADERSHIP SKILLS This item describes to the individual’s ability to lead their own team or peers effectively in pursuit of a goal.

0 No evidence of the skill. The individual lacks leadership skills or leadership experience

1 Individual has some aspects of the skill, but it is not currently useful. The individual has some leadership talent or skills but limited experience in leadership roles.

2 Individual has this skill. The individual may have notable leadership talent with an established track record of successful leadership

3 Individual has mastered this skill. The individual has significant leadership strengths. They are seen as a strong and/or effective leader.


12. RESILIENCY This item describes the individual’s capacity to quickly and effectively recover from obstacles or setbacks, developing and growing strengths from challenges to better themselves and the organization.

0 No evidence of the skill. The individual is not yet able to identify personal strengths.

1 Individual has some aspects of the skill, but it is not currently useful. The individual is able to identify internal/personal strengths but is not able to utilize them effectively.

2 Individual has this skill. The individual is able to identify most of their internal/personal strengths and is able to partially utilize them.

3 Individual has mastered this skill. The individual is able to both identify and use internal/personal strengths to better themselves and their organization and successfully manage difficult challenges.

13. RESOURCEFULNESS This item refers to the individual’s ability to identify and utilize external/environmental strengths to progress and better both themselves and their organization.

0 No evidence of the skill. The individual is not yet able to identify external/environmental strengths.

1 Individual has some aspects of the skill, but it is not currently useful. The individual is able to identify external/environmental strengths but is not able to utilize them effectively.

2 Individual has this skill. The individual is able to identify most of his/her external/environmental strengths and is able to partially utilize them.

3 Individual has mastered this skill. The individual is able to both identify and use external/environmental strengths to better themselves and their organization and successfully manage difficult challenges.


14. SELF-AWARENESS This item refers to the individuals’ capability to recognize and identify their own strengths and weaknesses as well as resource and capability needs; an ongoing process of self-reflection and metacognition.

0 No evidence of the skill. The individual is not self-aware or has very limited self-awareness. They might have significant ‘blind spots’ in their self-perception that interfere with professional development.

1 Individual has some aspects of the skill, but it is not currently useful. The individual has some limited self-awareness. They have a sense of their strengths and challenges but struggles to articulate the implications of these personal characteristics on their business efforts.

2 Individual has this skill. The individual is reasonably aware of their strengths and limitations. They can articulate how their strengths and weaknesses influence business approaches and experiences. They might have some ability to design strategies to overcome personal challenges in their business plans

3 Individual has mastered this skill. The individual is fully aware of their strengths and limitations and can recognize their own resource and capability needs. They are able to adjust their approach to play to strengths and overcome challenges.


Relationship Management Skills

15. NETWORK CAPACITY This item describes the individual’s ability to build and maintain networks as a leader.

Ratings and Descriptions

0 No evidence of the skill. The individual has limited or no networking skills or capacity. The individual might discount the value of networks.

1 Individual has some aspects of the skill, but it is not currently useful. The individual has some knowledge of the importance of networking but does not have many skills or experiences with networking.

2 Individual has this skill. The individual has networking knowledge and skills.

3 Individual has mastered this skill. The individual is a skilled network builder and manager

16. LEVERAGING EXISTING PARTNERSHIPS This item refers to the individual’s capacity to utilize one’s existing network and relationships as a resource, including peer, advocacy and funder organizations, as well as individuals. The ability to attract long-term, mutually beneficial partnerships in order to develop and grow.


0 No evidence of the skill. The individual makes limited use of partnerships, alliances, and other external relationships. Those alliances and partnerships that they has are not particularly productive.

1 Individual has some aspects of the skill, but it is not currently useful. The individual does not prioritize relations with other organizations. They have developed few key collaborations or alliances

2 Individual has this skill. The individual has built and maintains relationships with others. They consistently networks in an effort to attract partnerships

3 Individual has mastered this skill. The individual has built and maintains strong working relationships with peer, advocacy, and funder organizations. Their organization is a model of effective networking. The individual is charismatic and attracts affiliations and partnerships. They have cultivated a variety of long term, mutually beneficial collaborations which they work hard to nurture and grow. They seem to ‘know everyone’.


17. RESOURCE LEVERAGING This item refers to the individual’s ability to use the resources of others to achieve strategic goals. The understanding that one need not own resources to achieve one’s goals, only control those resources.


0 No evidence of the skill. The individual has little or no understanding, experience or interest in resource leveraging.

1 Individual has some aspects of the skill, but it is not currently useful. The individual understands the concepts of resource leveraging but has little experience or may struggle with accepting it.

2 Individual has this skill. The individual has experiences with leverage resources. They have been able to use the resources of others in order to achieve their mission/agenda without having to take any formal control of those resources.

3 Individual has mastered this skill. The individual is expert at leveraging the resources of others in meeting their business objectives. They do not have to own or control a resource to use it effectively.

18. BUILDING & MAINTAINING A REPUTATION This item describes the individual’s ability to cultivate respect as a leader and maintain a stellar reputation. The desire to share credit for success.


0 No evidence of the skill. The individual has had problems or accusations of problems that has resulted in a negative reputation within the field of their enterprise OR the individual has no reputation in the field and a limited understanding of how to build a reputation.

1 Individual has some aspects of the skill, but it is not currently useful. The individual is an unknown in his/her field but has a clear sense of how to build a good reputation.

2 Individual has this skill. The individual has a solid reputation in their field. They are generally respected.

3 Individual has mastered this skill. The individual has a stellar reputation. They are seen as a respected leader in the field.


19. COMMUNITY INFLUENCE & INVOLVEMENT This item is used to describe the individual’s development and creation of external working relationships towards strategic goals. The ability to perceive the political environment of a situation, and to understand and utilize influence over leaders and the community as a whole.


0 No evidence of the skill. Problems with external relationships that impede/prevent the individual from achieving their objectives. Issues can include

No or poor external relationships Operating in isolation Toxic or relations characterized by distrust Failure to consider or pay attention to or value relationships.

1 Individual has some aspects of the skill, but it is not currently useful. The individual struggles with their external relationships. Challenges may include:

Insularity--Insufficient attention to circumstances outside of organization Poor relationship management--Inconsistent in its relationships, poor relationships Misunderstanding of politics--Emphasizes wrong relationships Poor reputation--Lack of credibility or influence Absence of trust in people outside of organization.

2 Individual has this skill. The individual establishes productive external relationships that help them achieve their objectives. They understands the political context and reality of their community. The organization and its leadership is influential in its dealings with others.

3 Individual has mastered this skill. The individual has established strong, productive external working relationships that help them achieve their aims. They approach all situations with a clear perception of political context and reality. Demonstrates understanding of conventions, structures, functions, objectives of government and power political environment. The organization and its leadership effectively influence key members of the broad community (leaders and group).

20. ACCOUNTABILITY This item refers to the individual’s ability to define and create accountability structures whereby all business components have clearly articulated performance objectives that tie to the organization’s broad goals and strategies.


0 No evidence of the skill. The individual lacks any ability to define or articulate accountability standards or performance measures or struggles with ongoing challenges. Measures may be:

Not linked to organization’s broad goals and strategy Meaningless, irrelevant or impossible to achieve Measures may be applied unfairly or with favoritism Used to create an environment of fear and anxiety Focused entirely on process, with no regard for results. [continues]


ACCOUNTABILITY continued

1 Individual has some aspects of the skill, but it is not currently useful. The individual has a limited ability to articulate and communicate performance expectations and measures are used inconsistently, or may have occasional problems. Measures may be:

Not linked to organization’s broad goals and strategies Too easy or too demanding Too short -term or long-term Vague or confusing Focused mainly on inputs.

2 Individual has this skill. The individual is able to articulate an enterprise in which all individuals and departments have performance objectives that tie to the organization’s broad goals and strategies. These have clear timeframes and deliverables and are generally meaningful, demanding and achievable. Performance objectives are usually focused on the end results rather than on how the work is done. Most staff use their performance objectives to guide their work. These objectives form the basis for employee performance evaluations

3 Individual has mastered this skill. The individual is able to define and create accountability structures whereby all business components have clearly articulated performance objectives that tie to the organization’s broad goals and strategies. These have clear timeframes and deliverables, and are meaningful, demanding, and achievable. Performance objectives are focused on the end results rather than on how the work is done. Most staff use their performance measures to prioritize their work. These objectives form the basis for employee performance evaluations.

21. TEAMING This item is used to describe the individual’s ability to structure teams and team-based approaches to the activities and processes of the organization.


0 No evidence of the skill. The individual has no or very limited teaming skills or experiences.

1 Individual has some aspects of the skill, but it is not currently useful. The individual has some teaming skills. Although relationships may be cordial, some barriers to teaming exist. Politics and hierarchy may dictate relationships and access to information. Obtaining access to resources in other parts of the organization can be difficult. The organization does not take advantage of potential efficiencies.

2 Individual has this skill. The individual is able to get people and programs to work together effectively, sharing information and resources as needed. There are few coordination issues, and the organization enjoys savings, efficiencies and economies of scale.

3 Individual has mastered this skill. The individual is able to structure team work and teaming approaches into all activities and processes. Teaming is well-coordinated and integrated across the organization, creating an environment where information is freely shared and resources are allocated according to goals and strategy. Relationships are dictated by organizational needs, rather than by politics or hierarchy. Programs are clearly linked with each other, creating efficiencies and economies of scale.


Business Management Skills

22. KNOWLEDGE OF FIELD/INDUSTRY This item describes the individual’s understanding of the context surrounding the enterprise, with experience in the field itself.

Ratings and Descriptions 0 No evidence of the skill.

The individual has limited or no knowledge of the field. While the individual may have experience in business or with other social problems, they have no experience with the issues involved in the present enterprise.

1 Individual has some aspects of the skill, but it is not currently useful. The individual has some knowledge of the field. Limits of knowledge may impede business success due to a naïve or uninformed approach.

2 Individual has this skill. The individual is knowledgeable about the field.They may or may not have some direct experience but has studied the field.

3 Individual has mastered this skill. The individual is very knowledgeable about the field to which the enterprise is directed. The individual has direct and substantial experience in this field.

23. KNOWLEDGE OF LAWS/REGULATIONS This item describes the individual’s knowledge and understanding of the existing laws and regulations in the business environment of the organization that directly pertain to the functioning of that organization.


0 No evidence of the skill. The individual has limited or no knowledge of the field. While the individual may be experienced in business or with other social problems, They have no experience with the legal and regulatory aspects of the present enterprise

1 Individual has some aspects of the skill, but it is not currently useful. The individual has some knowledge of the field. Limits of knowledge may impede business success due to a naïve or uninformed perspective about the existing laws and regulations.

2 Individual has this skill. The individual is knowledgeable about the laws and regulations in the business environment. They may or may not have some direct experience but has studied the laws and regulations.

3 Individual has mastered this skill. The individual is very knowledgeable about the existing laws and regulations in the business environment of the enterprise. The individual has direct and substantial expertise in relevant laws and regulations.


24. ACCOUNTING/BOOKKEEPING This item identifies the individual’s knowledge and understanding of accounting and bookkeeping principles and practices.


0 No evidence of the skill. The individual has limited or no accounting or bookkeeping experience. .

1 Individual has some aspects of the skill, but it is not currently useful. The individual has basic but limited knowledge of bookkeeping and accounting practice.

2 Individual has this skill. The individual has sufficient knowledge of bookkeeping and accounting practices. They are capable of managing ‘the books’ at the outset of their business.

3 Individual has mastered this skill. The individual has specialized training and experience in accounting and bookkeeping.

25. FINANCE This item identifies the individual’s knowledge and understanding of financial management principles and practices.


0 No evidence of the skill. The Individual has no notable experience with financial management.

1 Individual has some aspects of the skill, but it is not currently useful. The Individual has some financial management experiences but either not successful or not directly related to the current business plan.

2 Individual has this skill. The Individual has relevant financial management skills.

3 Individual has mastered this skill. The Individual has notable financial management skills with a successful track record directly relevant to current business plan.


26. MARKETING/COMMUNICATIONS This item identifies the individual’s understanding of and experience with marketing, sales and communication practices.


0 No evidence of the skill. The individual has limited or no marketing/sales/communications skills or knowledge.

1 Individual has some aspects of the skill, but it is not currently useful. The individual has some knowledge of marketing, sales, and/or communication strategy but limited experience.

2 Individual has this skill. The individual has some clear marketing, sales, or communication skills.

3 Individual has mastered this skill. The individual has outstanding understanding and experience with marketing, sales, and communication.

27. OPERATIONS MANAGEMENT This item describes the individual’s knowledge and understanding of operations management practices.


0 No evidence of the skill. The individual does not know or utilize standard operations management practices.

1 Individual has some aspects of the skill, but it is not currently useful. The individual has some limited knowledge of operations management practices, but they are not effectively used in their enterprise.

2 Individual has this skill. The individual uses standard operations management practices.

3 Individual has mastered this skill. The individual uses sophisticated operations management practices in their enterprise.


28. TECHNOLOGY-ENABELED BUSINESS MANAGEMENT This item identifies the individual’s knowledge of the tools of technology-enabled business (e.g. social media, CRM, bookkeeping software, etc.) and their utility to the organization.


0 No evidence of the skill. The individual has no or very limited knowledge of business-related technology (e.g., social media, computer software, electronic hardware, etc.).

1 Individual has some aspects of the skill, but it is not currently useful. The individual has some knowledge of technology but its potential applications in business are not understood. They may only use it in their personal lives.

2 Individual has this skill. The individual has knowledge of common strategies that utilize technology to enable business efficiency and effectiveness

3 Individual has mastered this skill. The individual is expert in the use of technology in enabling business efficiency and effectiveness.


Organizational Process Management Skills

29. INTERNAL COMMUNICATION This item refers to the individual’s ability to express one’s meaning to others in a clear, transparent, and positive way; the ability to utilize effective communication to lead an organization.


0 No evidence of the skill. The individual’s communication is often problematic. Providing and obtaining timely, accurate information can be difficult. Communication problems create missed opportunities, the need to undo or redo work, and contribute to organizational problems. Information and access to information may be used to control resources and power. Informal communication may trump or undermine formal communication. Secrecy, misinformation and rumor are commonplace.

1 Individual has some aspects of the skill, but it is not currently useful. The individual is inconsistent in the quality and timeliness of their internal communication. People may not always get the information they need. Access to information may be controlled or limited. Different sources of communication may deliver different messages. At times, effective communication is hampered by inaccuracy and rumor.

2 Individual has this skill. Generally, the individual’s communication is effective. Most types of their efforts at communication work for most individuals within the organization.

3 Individual has mastered this skill. The individual is able to create an organization that is a model for effective internal communication. Individuals throughout the organization receive the information they need in a timely, accurate manner. Access to information is constrained only by the competence of the individual and genuine security considerations. The organization uses a wide variety of communication tools and pathways and uses each appropriately. Internal and external communications are integrated to deliver consistent messages, which are reinforced through repetition. The organization’s commitment to effective internal communication is reflected in its training, practices and expectations.


30. PROCESS DESIGN This item describes the individual’s ability to work efficiently and effectively toward goals and objectives through processes that are robust, lean, well-designed, consistently used, and widely accepted.


0 No evidence of the skill. The individual is inefficient and often ineffective in doing work. They seem to be stuck in their ways, and unaware of alternative ways of operating.

1 Individual has some aspects of the skill, but it is not currently useful. The individual is inconsistent in his/her ability to organize and implement effective work processes. They are open to feedback and willing to change but does not have process design skills.

2 Individual has this skill. The individual operates efficiently and effectively. Their processes are well designed and widely used.

3 Individual has mastered this skill. The individual efficiently and effectively works towards achieving Their goals and objectives. Their processes are robust, lean, well designed, consistently used, and widely accepted. The entrepreneur is focused, systematic and methodical in improving the way they operates.

31. DECISION-MAKING This item describes the individual’s ability to, first, make decisions, and then to make them in a well-reasoned, informed, and timely way toward achieving individual and organizational goals.


0 No evidence of the skill. The individual’s effectiveness often suffers as a result of poor decision-making or a failure to make decision. Problems may include: The individual is unable or unwilling to make and stick with decisions

Erratic, unpredictable and/or informal decision-making processes are common Rumor and bad information affect the quality of decisions Decisions are often make by people who lack appropriate authority or qualifications It is unclear when/if decisions have been made Ulterior motives, favoritism or cronyism affect decisions There is no ownership or accountability for decisions, behavior, or actions.

1 Individual has some aspects of the skill, but it is not currently useful. The individual struggles with sound decision-making. Problem areas may include: informally or behind the scenes

While the individual has an established framework for decision making, frequently decisions are made Decisions are repeatedly second guessed and revisited The individual fails to involve the right people Inadequate,inaccurateoroutdatedinformationnegativelyimpactsthequalityofdecisions.

2 Individual has this skill. The individual has sound processes for making decisions that further their mission, vision and goals. The individual takes advantage of available information to inform their decision-making. Generally, the right people participate in making decisions. Decisions are documented and communicated.

3 Individual has mastered this skill. The individual makes and implements high-quality, well-reasoned, timely decisions that further their mission, vision and goals. In making decisions, the individual takes advantage of reliable, up-to-date information, conducts risk analysis, and identifies contingency plans. When necessary, they can act quickly and decisively with limited information. Decision making processes are transparent, consider long term implications on those affected, and involve appropriate people.


32. CONFLICT MANAGEMENT This item describes the individual’s ability to manage conflict in healthy and constructive ways; the ability to create an organizational culture that addresses conflict in this way.


0 No evidence of the skill. The individual deals with conflict in inconsistent ways and with variable results. Conflicts may not be accurately identified or adequately resolved for reasons that may include:

Reluctance to honestly identify issues for fear of reprisal A lack of ownership and accountability makes resolution difficult Conflicts are glossed over or denied.

1 Individual has some aspects of the skill, but it is not currently useful. Conflicts often cause problems for the individual. The real issues behind the conflict are rarely identified and addressed. Avoidance, personal vendetta, a culture of “us versus them” and/or paranoia can perpetuate conflict, while preventing its resolution.

2 Individual has this skill. The individual identifies and deals with conflict in an honest, safe, timely manner. The organizational culture encourages individuals to focus on issues rather than blame. The individual is effective in resolving conflict.

3 Individual has mastered this skill. The individual identifies and deals with conflict in a healthy and constructive way. Issues are addressed in an honest, safe, timely manner. The organizational culture encourages individuals to focus on issues instead of blame; as a result when conflicts are resolved, parties are able to move on. The individual helps people understand how cultural and social differences impact the ways people deal with conflict. .

33. PERFORMANCE & DISCIPLINED ACTION This item rates the individual’s focus on performance as an expected norm; self-discipline and the ability to encourage and reward high performance in others.


0 No evidence of the skill. The individual rarely references or rewards performance and his/her business consistently under achieves. Inefficiency and ineffectiveness are commonplace and accepted as inevitable. The individual may demonstrate passivity or apathy in response to challenges or work.

1 Individual has some aspects of the skill, but it is not currently useful. While the individual is generally self -disciplined, their overall approach lacks rigor and purposeful performance. They do not consistently produce the kind of results they want.

2 Individual has this skill. The individual cultivates a culture of performance. They demonstrate discipline and rigor in all they do and constantly refers to performance. Employees have freedom and responsibility for delivering results, and are rewarded for the impact they make. The organization consistently achieves.

3 Individual has mastered this skill. The individual has a strong focus on performance. They are able to create high performance as the expectation and the norm.

readiness inventory for successful entrepreneurship (rise ...entrepreneur’s skills are developed...

Documents