Class X, CBSE INFORMATION TECHNOLOGY , 402

1. UNIT 4
Entrepreneurship

2. Entrepreneur:
• ‘Entrepreneur’ is a French word which
means to undertake, to pursue
opportunities, to fulfill needs and wants of
the people through innovation and starting
business.

3. • An entrepreneur is a person who
establishes a business or a venture that
generates some value to the customer
and proves to be profitable for him/her.
• An entrepreneur starts a new business
with an eye on what he identifies as an
unmet need in the market and works to
fulfill.

4. Some famous entrepreneur in world
• Bill Gates- Microsoft
• Mark Zucker Berg- Facebook
• Elon Musk- Space X, Tesla and etc.
• Jeff Bezos- Amazon.com
• Falguini Nayar- Nykaa
• Vandana Luthra- VLCC
• Ritesh Agarwal-OYO
Some famous entrepreneur in India

5. Entrepreneurship:
Entrepreneurship can be described as starting
a business by using the resources available to a
person.
Entrepreneurship is not only about self-
employability but also about completion of life
cycle society.
It accelerate the economic growth of the
society as it enables wealth creation for the
entrepreneur himself and the people who are
employed in the enterprise.

6. QUALITIES OF ENTREPRENEURS:
• clear with their targets
• work hard from the beginning and then for extra
• courageous and are always ready to take risks
• have clear vision , prepare their next move
• problem solvers, conceive new ideas, achieve
innovative solutions.
• good communication
• updated with the current scenario of the market
• dedicated and passionate towards their work.

7. FUNCTIONS OF ENTREPRENEUR:
• Create a new idea for product or service:
• Research:
• Managing the business:
• Organizing resources:
• Making decisions:
• Execution after research and organizing resources:
• Public relations:
• Statuary obligation:
• Divide income:

8. IMPORTANCE OF ENTREPRENEUR:
• By establishing the business entity, entrepreneurs
invest their own resources and attract capital
from investors and public.
• They are known as job creators.
• They provide employability to a number of
people.
• This is why the government of India has taken
initiatives such as ‘Startup India’ to promote and
support new startups as they increase the growth
in GDP and per capita income and complete the
need of consumers.

9. MYTHS ABOUT ENTREPRENEURSHIP
• Every business idea needs to be very unique and
special:
• Very one is not born Entrepreneurs:
• No need for Huge Money for start up
• Can make instant Profit:
• Not only Good Idea can work.
• Cannot get luxuries future without future
preparation.
• Only young can do the entrepreneurship

10. ENTREPRENEURSHIP AS A CAREER OPTION
• Service business: a service business is a company that
provides work performed in an expert manner by an individual
or a team. It can be Banking, Consulting, Cleaning, Education,
Insurance, Transportation Services and many more.
• Manufacturing Business: manufacturing business buys raw
material with the intention of using them as ingredients in the
making of a new product. It combines raw material and labour
in its production. The manufactured good will then be sold to
customers. Handware making, furniture making, etc. are few
examples.
• Sole Proprietorship Business: The most common type of
business found in the india is sole proprietorship. All
businesses we see around like the local grocer, carpenter,
shopkeeper, etc. are sole proprietorship. It is an ideal choice to
run a small scale business.

11. • Buying a Franchise: A franchise is an agreement between
a small business owner(franchisee) and the parent
company(franchiser). The parent company gives the right
to sell company’s product and often provides support like
advertisement and supplier relationship in return for a
franchise fee and some percent of the profit.
• Copying an Existing business: Identify a good going local
business started by someone else. One can also take help
from internet. After researching on it thoroughly and
planning for the execution establish the business. Make
sure the business does not violate someone else’s
trademark, copyrights or to her protected intellectual
property.
• Work from home business: Many small business ideas
can be launched form home only. This can be anything
from opening a boutique to writing blogs.