Question
Explain 'Propensity for Risk-taking' and 'Faith and commitment to a planning paradigm' as entrepreneurial competencies.

Answer

Propensity of risk taking: Degree to which an entity is willing to take chances with respect to risk of loss. The entrepreneur takes risk according to the economic conditions, market, research, financial and human resource mobilisation etc.
Paradigm: Intellectual perception or view, accepted by an individual or a society as a clear example, model or pattern of how things work in the world. The Planning Paradigm refers to a general pattern which suggests how to progress from an abstract idea to achieving sustained stability growth and value added service.

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