- The document discusses entrepreneurship and provides examples of different types of businesses. - It describes the qualities needed for a successful entrepreneur like patience, positivity, creativity, and risk-taking. - Various types of businesses are outlined like product businesses that sell tangible goods, service businesses, and hybrid businesses that offer both products and services.

1. Chapter-4 Entrepreneurship
Group-3
Himanshi Kocher
Himanshi Bhararia
Harshita Pal
Ishika Goyal
Harshita Suryavanshi
IT PRESENTATION

2. An Entrepreneur is a person who is self-employed, is willing
to take a calculated risk and brings in a new idea to start a
business.
Example: A shopkeeper cannot bean entrepreneur unless
he/she introduce a new method or idea in business.
There are 7 sessions in this chapter
INTRODUCTION

3. 1. What is entrepreneurship?

4. There are 3 types of Entrepreneurship:
Economic Development: As entrepreneurs create value by making
avaliable better and cheaper products and services for customer, the economy grows.
Social Development: A business started by an entrepreneur is usually a
very small business in the beginning. If it grows they expand business
Improved standard of living: Example, a small village didn’t have good
quality soap because of which the villagers used to fall sick . A person went to the
city anti bacterial soap from the city and started selling it.
2.Role of Entrepreneurship

5. Entrepreneurs keep working to find the
most optimal ways of using the resources
to reduce costs and increase their profits.
MORE BENEFITS AT LOWER
PRICES PRODUCTS
Example: a phone which used to cost at least
RS.20,000
When phones were first launched can now be
brought even for RS 4,000.
Optional use of resources
This Photo by Unknown Author is licensed under CC
BY-SA-NC

6. There are 6 type of qualities:
PATIENCE: Success may not be achieved quickly therefore it is
important for an entrepreneur to be patient.
POSITVITY: An entrepreneur has to think positively when he/she
takes a big risk. There may be looses at times but even then an
entrepreneur be positive.
NEVER GIVE UP: Every new business goes through failures and
therefore, an entrepreneur needs to work hard till it becomes successful.
CONFIDENCE: An entrepreneur needs to be very confident and
takes decisions wisely.
3. Qualities of a successful
entrepreneur

7. An entrepreneur needs to be open to
new ideas and try them without fear
of failure. She/he will have to use
trial and error and experiment with
different ideas.
CREATIVITY AND
INNOVATION
An entrepreneur should be able to see
a problem from different prespectives
and come up with original and
creative solution.
Open to trial and error
This Photo by Unknown Author is licensed under CC BY-SA-NC

8. Entrepreneurship is not without risk but entrepreneur are
not afraid of taking calculated risk.
CHARACTERISTICS OF ENTREPRENEURSHIP
•Ability to take up risks.
•Believe in hard work and discipline.
•Adapting and flexible to achieve the goals of enhancing quality &
customer satisfaction.
•Knowledge of the product and services.
•Financial literacy and money management skills.
•Effective planning and execution.
4. DISTINGUISHING
CHARACTERISTICS OF
ENTERPRENEURSHIP AND WAGE
EMPLOYMENT

9. In case of wage employment, there are
always two parties. One is known as the
employer and other is known as the
Employee.
BENEFITS OF
ENTREPRENEURSHIP
Do what you are interested in.
Working for yourself, and not for others.
Make profits for yourself.
More risk , more profit.
Wage employment

10. RAHUL THE CRICTER: Rahul went for daily
practice with his friends in park. He wanted to become a
great batsman but his team lost and he was sure that he
would play for India one day. Rahul works for his
passion in cricket.
PRODUCT BUSINESS : Business where a seller
and buyer exchange an item which can be seen.
SERIVCE BUSSINESS : A Business where a
seller helps the buyer to finish some work.
HYBRID BUSINESS : A Hybrid is a one where
business is doing both selling product and services.
Types of business activity
This Photo by Unknown Author is licensed under CC BY-NC

11. There are 3 stories in this session:
● Sana , the jewellery expert
● Harish, the dabba-wala
● Pragya, the delivery girl
In these stories all of them had decided to start a new startup and become entrepreneur.
Types of product based business
There are two types of business:
●Manufacturing business: These are the businesses that make a product and sell it.
Products are usually made in factories, and have many people working in them.
●Trade business: These business buy and sell a product they also transport the product
from the factory to warehouses. And then to shops.
6. PRODUCT, SERVICE AND
HYDRATE BUSINESS

12. Entrepreneurship development is the process of improving the skills and
knowledge of entrepreneurs. It can take place through formal and informal
learning system.
There is a story of Prem Ganpathy the Dosawala he saved some money to
start a dosa shop, he even taken a small loan from his uncle and brother. He
started shop at railway station and he found that his customers want different
dosas ,Thus he have 108 types of dosa and he have currently 36 shops with 150
employes. Make approximately rs5 crore per year.
7.Entrepreneurship Development
processes

13. .