Exploring Entrepreneurial Competencies for Enhancing Performance in Agro-Based MSMEs: A Case Study from Bihar
Year: 2024
Type: article
Abstract: This study explores the impact of entrepreneurial competencies on the performance of agro-based Micro, Small, and Medium Enterprises (MSMEs) in Bihar, a predominantly agrarian state in India. Agro-based MSMEs are critical for the state's economic development, with over 70% of the population relying on agriculture. This research identifies key entrepreneurial competencies such as opportunity recognition, strategic thinking, organizational effectiveness, and networking, and assesses their influence on business performance indicators, including profitability, sales growth, and organizational efficiency. A survey-based approach was utilized, collecting data from 245 agro-based MSMEs across sectors such as Agro-Allied Products, Farming, Fisheries, and Poultry. The findings indicate that while competencies like opportunity recognition are vital for enhancing market competitiveness, their effectiveness varies across sectors. The Poultry sector, in particular, showed a strong positive correlation between entrepreneurial competencies and profitability. Strategic thinking and organizational effectiveness had a limited direct impact on performance, suggesting the influence of external factors like market conditions and resource availability. The study offers practical insights for MSMEs and policymakers to foster entrepreneurial competencies that drive sustainable growth in Bihar's agro-based sector.
Author: Dr. Rahul kumar -
Language: English
Subfield: Management of Technology and Innovation
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4404865833