Managerial competence– the success of a business enterprise depends largely on the resourcefulness, competence and integrity of its management. However assessment of managerial competence has to be necessariliy qualitative calling for understanding and judgment. The managerial requirements are the experience and capability of the principal promoters to implement and run the project. The adequacy of the management set up for day to day operations like production maintenance marketing finance etc. and also the homogeneity of the management set up. For a new entrepreneur it will always be advisable to build up a competent team of specialists in the required discipline to join hands with an entrepreneur who has the requisite organisational and managerial expertise in the implementation and operation of the project.
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