Topic 3 Information, opportunity and risk management skills

‘These skills enable individuals to identify and leverage opportunities. They can be divided into three sub-groups: opportunity seeking, recognition and assessment; information seeking and management; and coping with ambiguity, uncertainty and risk…’ (YBI,2018, p.18)

Today: Opportunity seeking, recognition and assessment

Tomorrow

Building and managing online reputations

This is closely related to working with networks, crowds and movements. Managing an online reputation involves creating a digital presence, cultivating followers and continuously delivering valuable content to them, while identifying opportunities along the way. Young entrepreneurs must be aware of the ‘social etiquette’ involved in communicating with their networks.

*Source: YBI. (2018). Entrepreneurial soft skills for the future: a scoping study. Youth Business International.

Today: Information seeking and management

Tomorrow

Complex information management

To be able to make well-informed business decisions, young entrepreneurs will need to access complex information systems, formulate meaningful enquiries, interpret responses, extract relevant facts to unlock insights, and share conclusions with their team, customers and other stakeholders. These combined competencies represent complex information management skills.

*Source: YBI. (2018). Entrepreneurial soft skills for the future: a scoping study. Youth Business International.

Today: Higher-order thinking skills

Tomorrow

Wellness management

The modern workplace puts increasing focus on self-care. Entrepreneurs must adopt and promote healthy habits, and practice personal and collective stress management techniques in order to cope with the pressure of work.

VUCA-coping skills

VUCA stands for volatility, uncertainty, complexity and ambiguity. Coping with these challenges and being able to take calculated risks is critical for young entrepreneurs. VUCA-coping skills rely on optimism, grit, stress tolerance and adaptability.

*Source: YBI. (2018). Entrepreneurial soft skills for the future: a scoping study. Youth Business International.