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Entrepreneurship: Its skills and role in the Kingdom’s Vision 2030


Nowadays, with the development of technology with the leadership directives of the Saudi Arabia Kingdom to achieve “Vision 2030”, we are living prosperously in all fields, especially in the field of entrepreneurship! It’s now easy to find agencies and platforms that support entrepreneurs and coaches who offer educational courses and tips.

There are also providers of financial support and step-by-step guidance to those at the beginning of the path of entrepreneurship and to those who are in the middle of it and need support to continue this path. It has also become easier to connect with experienced entrepreneurs and benefit from their advice and experience through social media platforms(LinkedN-Twitter Facebook.. And others).

As now there are many ideas and ways to entrepreneurship and start projects, the ideas are not limited to a field scope as before. Now passionate entrepreneurs and innovators can create virtual projects through applications, sites..etc that provide online services, marketing through social media platforms , e-mail and other electronic means.

1- Business management skills
Business management skills are essential for entrepreneurs to plan, distribute, direct, and control resources effectively.
These skills can directly contribute to building quality and improving efficiency, managing risk, implementing effective strategies, creating a positive company culture, and growing businesses.

Business management skills include:

– Leadership
– Strategic thinking
– Budget management
– Commercial acumen
– Communication

2-Communication and listening skills
Communication skills allow people to express their thoughts and feelings clearly by speaking, writing, and other forms of expression.
Listening skills enable you to understand, retain, and respond appropriately to information.
Communication and listening are essential entrepreneurial skills that can make a noticeable difference in how a business is managed. Because it helps build  trust, maintain relationships, resolve conflicts, understand needs, perspectives, and make sound decisions.

Communication and listening skills include:

– Written communication
– Non-verbal communication
– Stress management
– Active listening
– Control of feelings

3-Critical and creative thinking skills
Critical and creative thinking skills are essential and must entrepreneurs have them to build and expand their businesses successfully. Critical thinking allows you to objectively analyse information using evidence to make correct decisions and solve problems easily.
For creative thinking, it provides a way to look at problems from different angles, look at alternative perspectives, and come up with new ideas.

Critical and creative thinking skills include:

– Analysis
– Brainstorming
– Visualisation
– Evaluation
– Search

4-Strategic thinking and planning skills
Strategic thinking and planning skills allow entrepreneurs to analyse information, adapt, manage projects, solve problems, and make the right decisions. These skills are essential entrepreneurship skills. Through it, leaders can overcome challenges, ensure efficient resource allocation, and easily achieve desired goals.

Strategic thinking and planning skills include:

– Analysis
– Implementation
– Flexibility
– Attention to detail
– Firmness

5-Brand building, marketing and networking skills
Nowadays, the business environment has become very competitive, so having the skills of building brand, marketing and networking is essential; to expand the scope of the business and enhance the chances of success more.
These skills enable entrepreneurs to promote and sell products or services. Brand building skills create a unique and memorable image of a product, service or organization, promoted by marketing to target consumers or the right audience. Communication builds relationships and allows individuals to communicate with potential customers, partners, suppliers, or colleagues.

Branding, marketing and communication skills include:

-Cooperation
-Communicate
– Skills of dealing with others
-Creativity

6-Entrepreneurship skills in the workplace
Skills that are in the workplace that enable individuals to form and manage their businesses effectively, as well as drive innovation and growth within organizations.

Workplace entrepreneurship skills include:

-Time management 
-Financial skills 
-Sales 
-Adaptability
-Problem solving

7-Teamwork and leadership skills
Teamwork and leadership are two important entrepreneurial skills that foster a positive and collaborative organisational culture, leading to increased employee satisfaction and improved performance. These qualities enable leaders to inspire and motivate the company, work in diverse teams and lead them towards success effectively.

Teamwork and leadership skills include:

– Communicate
– Emotional intelligence
– Sympathy
– Authorization
– conflicts resolution

8-Time management and organizational skills
Successful entrepreneurs must know how to prioritise tasks, manage their time and resources, and maintain an orderly and efficient good work environment. Effective time and organisation management skills can enable you to achieve goals, manage stress, maintain a healthy work-life balance, and improve well-being and satisfaction.

Time management and organizational skills include

– Setting priorities 
– Setting goals 
– Multitasking. 
– Decision making 
– Cooperation

9-Sales skills
Sales skills are essential for entrepreneurs, because they need to know how to sell their business to potential customers and investors. Developing sales skills can help entrepreneurs make sales, pitch ideas, negotiate, and create great relationships with their customers, investors, and stakeholders to build strong businesses.

Sales skills include:

– Commercial acumen
-Negotiation
-Building relationships
– Data analysis
-Social selling

10-Pressure management skills
Leading a business can lead to an entrepreneur losing their well-being and health. They need to know how to manage and deal with stress efficiently for themselves, their employees and their business. Owning these skills enables you to manage the pressures of entrepreneurs and maintain good physical and mental health, and also helps strengthen personal and professional relationships, and improve the quality of life in general.

Stress management skills include:

-Meditation
-Positive thinking
-Mental alertness
-Healthy sleep

Entrepreneurship skills are essential to guide entrepreneurs towards identifying opportunities, making effective decisions, turning their ideas into reality, overcoming challenges, and allocating resources properly; to successfully achieve desired goals.

The importance of entrepreneurial skills lies in the following:

-Encouraging social change and improving living standards

Eliminating unemployment and creating job opportunities

Innovation, economic prosperity and opening of new markets and industries

Improve the quality of life with new ideas and build functional products or services

-Providing opportunities for personal and professional growth

-Enhancing the individual’s ability to work efficiently on his own, as well as in cooperation with his colleagues

Assists in the expansion and development of existing businesses or institutions

-Improving foreign direct investment

Do you have entrepreneurial skills?

Entrepreneurship skills include many different skills, some people have them innately, and the others you can notice them in their personalities , and there are those who need ways to discover, acquire and develop them. So entrepreneurs and those who are thinking about making their way in this field and delving into it urgently need to know if they have these skills or need to improve them.

Some may not know how to evaluate and discover their skills and abilities, and how to get support and guidance, and get advice and guidance to help them start and delve into this field successfully and correctly. One of the easiest ways to help discover these skills and ways to improve them is by trying assessments .

These assessments include measuring many skills, including:

Personality assessments

They are assessments that measure an individual’s personality characteristics and include assessments of leadership, behavior, strengths, and weaknesses.

Cognitive ability assessments

It measures cognitive skills, which are the basic skills that the brain uses to think, read, learn, remember, deduce, and pay attention.

Skills assessments

Assessments that measure critical thinking and other essential skills such as knowledge, competence, and other skills needed to successfully do work. These are some of the types of assessments that will inevitably help develop and improve the skills of entrepreneurs.

There are a lot of other assessments in the Upskillable platform, and the most beautiful thing is that each assessment gives you tips for improvement, so feel free to try one of these assessments for a better future in entrepreneurship.

The role of entrepreneurship as a key pillar in achieving the vision of the Kingdom of Saudi Arabia 2030

Saudi Arabia’s Vision 2030

The Kingdom of Saudi Arabia has launched Vision 2030, a vision that aims to exploit the strengths of a distinguished strategic location, a leading investment force, and an Arab and Islamic depth. The leadership pays all the attention to this and works to harness all the potential to achieve the ambitions related to this vision.

They worked to establish a comprehensive development plan to achieve it that includes economic development, sustainable growth, development of human capabilities and others.

For these reasons:

  • Developing the capabilities of all citizens.
  • Preparing young people for the future better.
  • Exploit the opportunities offered by renewable and accelerated needs at the local and global levels.
  • Preparing young people for the local and global future job market.
  • Developing the skills of citizens and promoting their work culture.

The Kingdom of Saudi Arabia has provided opportunities for lifelong learning, supporting a culture of innovation and entrepreneurship, based on the development and activation of policies and enablers to enhance the Kingdom’s entrepreneurship.

The objectives of this vision have been achieved over the past five years, and as a result of this hard work many achievements have been achieved despite the challenges.

Achievements

Opportunities for growth and investment and a number of new economic sectors have been created and a culture of innovation and entrepreneurship has been promoted and supported. Based on this wise vision, a number of programs have been launched that support the economy, innovation, and entrepreneurship.

These programs include the National Transformation Program and the Human Capacity Development Program. This is to enable Saudi people to release their energies and capabilities, create a diversified and prosperous economy, and build a vibrant society in which everyone enjoys a full and healthy life, and a country that has become a leading model in the world

Entrepreneurship is one of the main pillars to achieve and develop Vision 2030 that contributes to achieving economic development and sustainable growth, which are two of the vision’s goals. The Kingdom seeks to make the small and medium enterprises sector a key pillar for the development of the economy.

This is done by supporting the growth and competitiveness of small and medium enterprises by building an encouraging environment and a pioneering society by leading cooperation with strategic partners in the public, private and non-profit sectors locally and internationally.
According to this vision, small and medium enterprises are among the most important engines of economic growth; because they work to create jobs, support entrepreneurship and promote exports.

They also contribute a lower percentage of GDP compared to advanced economies.
Technology also plays an important role for success in entrepreneurship, so we show you its role and importance:

The critical role of technology in supporting global businesses and startups across all sectors

One of the importance of modern technology used in the business sector and all sectors is that it decreases the human effort necessary to carry out many tasks and save time and costs because technology plays most of the roles played by the human element.

In addition, it contributes to the speed of communication and spread, now there are many international and emerging companies that work and many projects that originated online because of the spread and diversity of technology. Measuring performance for facilities, projects and others is now easier.

Technological development has increased the ability to measure performance faster and easier and contributed to sustainable development.
By enhancing electronic connectivity, financial inclusion, and access to commercial and public services. Technology can be a big factor in achieving equality and can play a critical role in supporting global and emerging businesses across all sectors.

In conclusion

In this article, we mentioned the importance of entrepreneurship, its skills, how to evaluate, discover and improve it, and about the role of entrepreneurship as a key pillar to achieve Vision 2030 for the Kingdom.

Saudi Arabia supports entrepreneurship as evidenced by its vision targets. If you are an entrepreneur or thinking of starting an entrepreneur, you must first start by assessing your personality and skills, discovering your weaknesses and looking for programs and ways to improve them.

You should know that innovation is an important element for success in entrepreneurship. If you are at the beginning of the road to entrepreneurship, start with an innovative idea and go to one of the platforms or agencies which can support you and encourage innovation and entrepreneurship in the Kingdom. You can get support if you are already an entrepreneur and need support about your facility or project. Upskillable also supports you in assessing your entrepreneurial skills to develop yourself, your team, your organization or your facility.

We offer consulting services and various assessments  through which you can discover the strengths of you or your team members and how to develop some skills, especially the leadership skills that are necessary for entrepreneurs to acquire.
The Upskillable platform seeks to achieve the objectives of the Kingdom’s Vision 2030 and to develop and support entrepreneurship. Discover Upskillable and its services!

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