“…The majority of research indicates a favorable correlation between management competencies and firm performance. Empirical evidence from studies conducted by Rauch, Wiklund, Lumpkin, and Frese (2009), Wiklund and Shepherd (2005), Ratten and Usmanij (2019), Morgan, Anokhin, and Wincent (2018), Neneh, and Van Zyl (2018), and Minniti and Levesque (2008) supports this assertion, emphasizing the significance of entrepreneurial competencies in enhancing firm performance across diverse industries and contexts. These studies underscore the importance of entrepreneurial skills such as opportunity recognition, innovation, risktaking, and strategic planning in driving business success and gaining competitive advantage.…”