Tác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịch

Tác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịchTác động của năng lực doanh nhân đến kết quả kinh doanh của doanh nghiệp nhỏ và vừa tại đồng bằng sông Cửu Long: Trường hợp ngành du lịch

THE UNIVERSITY OF DANANG UNIVERSITY OF ECONOMICS

SUMMARY OF DOCTORAL THESIS

NGUYEN MINH LAU

IMPACT OF ENTREPRENEURIAL COMPETENCIES ON BUSINESS PERFORMANCE OF SMALL AND MEDIUM – SIZED ENTERPRISES

IN THE MEKONG DELTA: THE CASE OF TOURISM

Major: Business Administration Code: 62.34.01.02

SUPERVISORS:

1 PhD NGUYEN THI BICH THU

2 PhD NGUYEN QUOC TUAN

Da Nang, 2024

CHAPTER 1 INTRODUCTION 1.1 The necessity for research

After more than 35 years of national innovation, our country's tourism industry has developed rapidly in both scale and quality The team of businesses doing tourism, travel, and accommodation establishments is growing stronger; Tourism infrastructure is invested in by the State and society and Vietnam has become an attractive destination in the world Tourism contributes to preserving and promoting the value of cultural heritage and natural resources, promoting the image and affirming Vietnam's position on the international tourism map

In the context of increasingly comprehensive and profound international integration, the tourism industry needs to actively innovate, create, and adapt to improve quality, develop quickly and sustainably, and become a key economic sector of the country Vietnam converges very rich types of tourism resources with unique identities, from natural tourism resources to humanistic and social tourism resources In order for the gap to not be much different with countries with developed tourism industries such as the US, Germany, Italy, Spain, Japan, Thailand , we must focus on investing in human factors We must have a high-quality workforce, managers, skilled tourism staff, and talented tourists who are good at science, technology, and professional expertise In addition, they must have enthusiasm and desire to bring the smokeless industry to a new level Therefore, human resource development is both an urgent and long-term task that determines the future development of the tourism industry According to the resource theory of Boxall and Purcell (2003), human resources have the potential to bring sustainable competitive advantages to businesses, in which the entrepreneurial competencies plays an important role in improve the business performance, having direct and indirect

Entrepreneurial competencies play a very important role in the success and development of businesses, therefore, entrepreneurs are considered an important resource (Roblesa, L., Zárraga-Rodrígueza, M 2015; Mitchelmore, S & Rowley, J 2009; …) Recently, research by Hoang La Phuong Hien (2019), Sakib, M.N et al (2022), Yunusa Mohammed Kaigama (2023) show that entrepreneurial competencies affects business performance and these studies provide insights into the importance of entrepreneurial competencies for business performance

According to statistics from the Mekong Delta Tourism Association, in 2022, the number of workers in the tourism industry in the Mekong Delta is 51,867 people Of these, workers who have been trained in Mekong Delta tourism operations are estimated at over 40%; There are 22,902 trained tourism workers, reaching 44.15% Thus, it can be seen that more than half (from 56 to 60%) of workers in the Mekong Delta tourism industry have not been trained This is a huge challenge for the region's tourism development, as well as a requirement to improve the training of human resources in the Mekong Delta tourism industry in both quantity and quality Through all the analyzes of the current situation and comments above, it shows that having enough tourism human resources with management capacity and professional qualifications to meet the needs of tourism businesses in the Mekong Delta in the future is a matter of concern difficult and complex problem Therefore, research on the issue of entrepreneurial competencies affecting business performance at small and medium-sized enterprises in the tourism industry in the Mekong Delta region is necessary and topical In recent times, no scientist has researched this field in the Mekong Delta region

From the above analysis, the research topic: “Impact of entrepreneurial competencies on business performance of small and medium-sized enterprises in the Mekong Delta: The case of tourism” was chosen by the author, because it has both

theoretical and practical urgency in the business context of a team of large-scale tourism entrepreneurs in the Mekong Delta

1.2 Research objectives

The general objective is to analyze and evaluate the impact of entrepreneurial competencies on business performance of small and medium enterprises (SMEs) in the Mekong Delta – the case of the tourism industry, from which the study proposes some implications to develop entrepreneurial competencies in the study area

In order to achieve the overall goal of the thesis, the author sets out the specific objectives as follows:

- Identifying factors of entrepreneurial competencies that impact the business performance of SMEs in the Mekong Delta: The case of the tourism industry

- Measuring the impact of entrepreneurial competencies factors on business performance of SMEs in the Mekong Delta: The case of the tourism industry

- Verifying and analyzing the relationship of entrepreneurial competencies to business performance of SMEs in the Mekong Delta: The case of the tourism industry

- Proposing management implications in fostering the capacity of entrepreneurs to achieve better business performance of enterprises

- Measuring the impact of entrepreneurial competencies factors on business performance of SMEs in the Mekong Delta: The case of the tourism industry

- Verifying and analyzing the relationship of entrepreneurial competencies to business performance of SMEs in the Mekong Delta: The case of the tourism industry

- Proposing management implications in fostering the capacity of entrepreneurs to achieve better business performance of enterprises

1.4 Research object and research scope

1.4.1 Research objects

The object of research in the thesis is the impact of entrepreneurial competencies on business performance of small and medium-sized enterprises in the Mekong Delta - the case of the tourism industry

1.4.2 Research scope

In terms of content: The thesis studies the impact of entrepreneurial competencies on the business performance of SMEs in the Mekong Delta – the case of the tourism industry

In terms of space: The thesis mainly explores typical topics about entrepreneurial competencies affecting business performance of foreign and domestic authors; These studies are directly or indirectly related to the topic, however this study has the policy of building a scale model for developing entrepreneurial competencies of tourism businesses in the Mekong Delta region In addition, the thesis also collects data

on the entrepreneurial team and entrepreneurial competencies

of SMEs in the Mekong Delta: The case of the tourism industry

In terms of time: Secondary data for the period 2016 -

2022 was collected for research purposes Primary data was collected and analyzed for the period 2020 - 2021

1.5 Research Methods

The research method used in this thesis is a combination

of qualitative and quantitative research Qualitative research aims to explore the factors of entrepreneurial competencies that affect business performance, thereby forming research

models, building and developing scales This serves as a basis for conducting surveys for subsequent quantitative research Quantitative research is used to collect and process survey data in order to evaluate the reliability and validity of the scales, to test models and hypotheses through tools such as Cronbach's Alpha, exploratory factor analysis (EFA), Confirm Factor Analysis (CFA), Structural Equation Modeling (SEM), moderator variable analysis, Anova difference analysis (post-hoc One-way Anova), Bootstrap test

1.6 Contribution of the thesis

1.6.1 Academic contributions

This dissertation plays an important role in adding new knowledge to the theoretical system related to the issue of business capacity of entrepreneurs in Vietnam The thesis has synthesized, supplemented and clarified research concepts, theoretical frameworks on entrepreneurs, entrepreneurial competencies, business performance of small and medium-sized enterprises and the relationship between these research concepts In addition, the author also introduces concepts of tourism, SMEs in the tourism industry and methods to measure entrepreneurial competencies and business performance of SMEs in the tourism industry On the basis of inheriting previous studies of domestic and foreign authors, the author has built and developed a multi-dimensional scale

to measure entrepreneurial competencies and business performance of enterprises In there:

- The scale of entrepreneurial competencies is supplemented with a new group of entrepreneurial competencies to match the operational context of entrepreneurs in small and medium-sized enterprises in the Mekong Delta – the case of the tourism industry The previous scale of entrepreneurial competencies consisted of 9 groups of component competencies synthesized by the author from related studies: strategic competency, commitment

competency, conceptual competency, opportunity competency, organizing and leading competency, relationship competency, learning competency, personal competency, and professional competency Therefore, the scale of entrepreneurial competencies developed from the dissertation both reflects the specificity of entrepreneurs in SMEs in the Mekong Delta - the tourism industry is both comprehensive and highly updated

- The dissertation also provides a multidimensional approach to measuring business performance of enterprises with 3 components: investment efficiency, business growth, and relative performance Thereby, the business performance

of the enterprise is evaluated more comprehensively

- In addition, the dissertation also introduces control variables of entrepreneur characteristics such as gender and education level to find differences and influences on business performance of tourism enterprises

1.6.2 Practical contributions

The dissertation has clarified many issues about the importance of entrepreneurial competencies in SMEs in the

Mekong Delta – the case of the tourism industry Thereby

helping management agencies, entrepreneurs get a more general view of preparing the right knowledge, skills and attitudes when doing business and conquering business barriers in the marketplace to achieve high results in business

- For entrepreneurs: The dissertation helps entrepreneurs gain a more general perspective on the business perspective and prepare appropriate knowledge, skills, and attitudes when doing business and conquer business barriers in the marketplace to achieve high results in business In addition, the dissertation has also proposed important and appropriate management implications to help entrepreneurs have a reliable basis to improve their entrepreneurial competencies and better promote the advantages of their characteristics individuals

such as gender, educational level and improve business performance of the enterprise

- For Management Agencies and Tourism Associations

in the Mekong Delta: The research results of the dissertation will be a reliable basis to help Management Agencies and Tourism Associations plan policies at Departments of Culture, Sports and Tourism, Tourism Association of Mekong Delta provinces From there, these agencies can propose appropriate and practical guidelines and policies to help improve the competencies of the business team and improve business performance of SMEs in the tourism industry in the Mekong Delta – the case of the tourism industry in particular and the country in general in the coming time

- The dissertation is also important to scholars and researchers in future because it will provide empirical documentation on business environment, entrepreneurial competencies and business performance In addition, the thesis also provides an orientation for further research, where future scholars can conduct research on this issue

1.7 Structure of the thesis

On the basis of regulations on structure as well as research objectives and content, the thesis is organized into five chapters, specifically as follows:

Chapter 1: Introduction to the topic

Chapter 2: Literature review and research model

Chapter 3: Research methods

Chapter 4: Research results

Chapter 5: Conclusion and managerial implications

CHƯƠNG 2 LITERATURE REVIEW AND RESEARCH MODEL 2.1 Theoretical basis of entrepreneurship

- Concept of entrepreneur:

Based on the synthesis of different definitions of entrepreneurs from previous studies, within the scope of this thesis to match the characteristics of tourism businesses, we

see: "Entrepreneurs are owners participating in managing

and operating business activities of the enterprise with the aim of profit; must always cope with risks and uncertainties in the business process to achieve growth At the same time, they must also be associated with the process of creativity and innovation to succeed on the basis of recognizing valuable business opportunities”

- Characteristics of entrepreneurs: considered as characteristics or qualities belonging to entrepreneurs (According to Oxford dictionary) In this study, gender and educational level (two characteristics of entrepreneurs) affect business results

2.2 Background theories of entrepreneurial competencies

2.2.1 The concept of entrepreneurial competency

Through studying the concepts of competency, competency seems to be common with important aspects such as:

- Competency include the overall characteristics of an individual that are related to the effective performance of a certain job

- Competency is expressed through individual behavior,

so it is observable and measurable

- Competency creates favorable conditions for completing set goals

- Competencies are resources within the organization that can be fostered and developed

Based on inheritance and analysis from research, the author proposes the concept of competency as follows: Competency

is a combination of knowledge, skills, attitudes/personal qualities of a person to achieve the highest operating results

2.2.2 Theoretical models of competency

- Competency theoretical model according to ASK

- Competency theory model according to behavioral change COM-B

- Competency theory model based on social cognition

- Competency theory model according to resource dependence theory

- Competency theoretical model based on component competencies

According to the theoretical perspective on entrepreneurial competency of domestic and foreign research authors, the factors formed in the theoretical model focus on the individual's competency model such as: Knowledge and skills factors, attitude/qualities In addition, the components of entrepreneurial competency of individuals are superior and are proposed by the authors because of some reasons Firstly, the components of this entrepreneurial competency can not only

be applied in business research but also in other related fields, especially business performance (Ala'a, 2016) Secondly, the components are complete because it exploits various business characteristics such as knowledge, characteristics, beliefs, motives, values, social networks, self-image and skills advanced (Tingko and Wenyi, 2017), which can positively influence business performance (Ahmad et al., 2010) Finally, component competency is widely accepted in developing economies Therefore, the author relies on the theoretical framework of component entrepreneurial competencies as the background theoretical framework for this study because the goal of this research is to build a model of the impact of

entrepreneurial competencies to the business results of tourism enterprises

2.2.3 Entrepreneurial competencies

2.2.3.1 Concept about entrepreneurial competencies

On the basis of synthesizing different definitions of entrepreneurial competencies from previous studies, in this thesis the author proposes the concept of entrepreneurial competecies as follows: “Entrepreneurial competencies is the integration of knowledge, skills, attitudes, behaviors and personal qualities of the entrepreneur to meet the requirements

of business activities and maintain business success.”

The author's reasons for using the above approach: First, the competency attributes are observable, measurable, and completely consistent with the author's research goals Second, this approach has been increasingly used by many domestic and foreign researchers in recent times

2.2.3.2 Entrepreneurial competencies

On the basis of researching the basic theory of entrepreneurship and on the basis of approaching and inheriting theories from the research works of domestic and foreign authors on entrepreneurial competencies such as: Chandler & Jansen (1992), Bird (1995), Baum et al (2001), Man (2001, 2002, 2008), Sony, H P., & Iman, S (2005), Ahmad et al (2007, 2010), José Sánchez (2011) , Ng and Kee (2013), Lopa, N Z., & Bose, T K (2014), Tehseen and Ramayah (2015), Nguyen Thanh Long (2016), Sajilan, S., Tehseen, S., & Adeyinka-Ojo, S (2016), Hoang La Phuong Hien (2019), Tahmina Khanam; Md Nazmus Sakib (2020), Aulia, M R et al (2021), Sakib, M.N et al (2022), Yunusa Mohammed Kaigama (2023), the author proposes the entrepreneurial competency model in this thesis with 9 groups

of entrepreneurial competencies: Competency to seize opportunities, competency to organize and lead, competency

to establish relationships, cognitive competency (analysis and

creativity), strategic orientation competency, commitment competency, learning competency, personal competency and professional competency.

2.3 Business results of enterprises

2.3.1 Concept about business results of enterprises

Business results of a business are often considered the results of operations or success of the business (Tangen, 2005) With different approaches, studies look at the business performance of businesses from different aspects There have been many scientific research projects at home and abroad studying the business results of enterprises in many different fields of activity Studies provide many definitions of business results of enterprises and different systems for measuring business results of enterprises, but in general, business results can be evaluated on both financial and non-financial aspects

2.3.2 A number of indicators are used to measures business results of enterprises

To measure the business results of an enterprise, the role

of measurement indicators is very important, as a basis for assessing the level of achievement of the enterprise's goals in its competitive strategy In general, studies measuring business results approach in two directions as follows:

- Measure business performance using non-financial indicators such as learning and development, customers and internal situation of the business Typical examples are the research of Kaplan and Norton (1992), Speckbacher, Bischof and Pfeiffer (2003), Perez and Canino (2009), Harrison and Wicks (2013), Laihonen et al (2014), Le Thi Phuong Thao (2016), Hoang La Phuong Hien (2019)

- Measure business results using financial indicators such

as assessing sales growth ability, profit growth ability, market share growth, investment efficiency and cost savings ability Typical examples are the research of Gupta and Govindarajan (1984) and Chandler and Hanks (1993), Man (2001), Mitchell

(2002), Robert (2004), Saad & Patel (2006), Maes et al (2005), Sánchez (2011), Fraj et al (2012) These indicators demonstrate success and performance from the shareholder's perspective

Therefore, within the limits of the data collection approach of this study as well as the structure of the research model, this study uses the method of measuring business results from inheriting and adjusting measurment variables from the scale of Gupta and Govindarajan (1984), Chandler and Hanks (1993), Man (2001), Sánchez (2011) to measure business results of enterprises The observations of the inherited and adjusted scale include the following contents: (i) investment efficiency; (ii) business growth; (iii) relative performance

2.4 Research models

From the synthesis of theory, the research model of the thesis is built based on the theoretical concept: entrepreneurial capacity will affect the business performance of small and medium-sized enterprises in the Mekong Delta The following is the information of the variables in the model presented in detail:

- The effect of entrepreneurial competencies on business performance of enterprises:

+ H1: Strategic competency has a positive influence on business performance of enterprises

+ H2: Commitment competency has a positive influence

on business performance of enterprises

+ H3: Opportunity competency has a positive influence

on business performance of enterprises

+ H4: Critical and creative competency has a positive influence on business performance of enterprises

+ H5: Relationship competency of entrepreneurs has a positive influence on business performance of enterprises

+H6: Organising and leading competency of entrepreneurs has a positive influence on business performance of enterprises

+ H7: Learning competency has a positive influence on business performance of enterprises

+ H8: Personal competency of the has a positive influence

on business performance of enterprises

+ H9: Professional competency of entrepreneurs has a positive influence on business performance of enterprises

- The effect of the control variables (Gender and education level) on the business performance of the enterprises

+ H10a: Gender affects business performance of enterprises

+ H10b: Education level affects business performance of enterprises

Research models:

Figure 2.1: Research model of the relationship between

research variables

CHAPTER 3 RESEARCH METHODS 3.1 Research design

The research process consists of two steps: preliminary research and formal research Preliminary research is conducted through qualitative methods, and formal research is done by quantitative research methods

3.2 Proposing the scale

3.2.1 Scale of entrepreneurial competencies

Based on the results of relevant theoretical summaries, the measurement of component factors or observed variables measuring entrepreneurial competencies is shown in Table 3.1

as follows:

Table 3.1: Entrepreneurial competencies scales

N Z., & Bose, T K (2014), Nguyen Thanh Long (2016), Hoang La Phuong Hien (2019), Sakib, M.N et al., (2022)

2 Prioritise work in alignment with business goals

3 Aligning business operations with long-term goals and change

4 Align current activities with strategic goals

5 Develop strategies to respond

to business challenges and risks

6 Monitor processes toward strategic goals

7 Anticipate and forecast the changing trends of the industry and the market in the future

2 Refuse to let the venture fail

whenever appropriate

Ahmad N et al., (2010), Lopa, N Z.,

& Bose, T K (2014), Hoang La Phuong Hien (2019), Sakib, M.N et al., (2022)

& Bose, T K (2014), Hoang La Phuong Hien (2019), Sakib, M.N N et al.,

(2022)

2 Applying ideas to business

practice

3 Assess potential risks

difference in business

5 Explore new idea

opportunities from change

7 Make decisions quickly and

appropriately

Opportunity

competency

1 Identify goods or services

(1992), Man (2001), Ahmad et al., (2010), Lopa, N Z.,

& Bose, T K (2014), Hoang La Phuong Hien (2019)

2 Perceive unmet customer

needs

3 Actively look for products or

services that provide real benefits to customers

4 Seize high – quality business

opportunities

Organising

and leading

competency

1 Lập kế hoạch kinh doanh

Make a business plan

Chandler & Jansen (1992), Man (2001), Ahmad et al., (2010), Lopa, N Z.,

& Bose, T K (2014), Hoang La Phuong Hien (2019), Sakib, M.N et al.,

1 Build relationships with

Chandler & Jansen (1992), Man (2001),