Class 10 Entrepreneurship chapter

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. Entrepreneurship:
Entrepreneurship is the act of creating a
business or businesses while bearing all
the risks with the hope of making a profit.

6. Some famous entrepreneur in world
• Bill Gates- Microsoft
• Vitalik Buterin- Ethereum
• Elon Musk- Space X, Tesla and etc.
• Jeff Bezos- Amazon.com
• Falguini Nayar- Nykaa
• Aman Gupta and Sameer Mehta
• Ritesh Agarwal-OYO
Some famous entrepreneur in India

7. QUALITIES OF ENTREPRENEURS:
• clear with their targets
• work hard from the beginning
• Risk taker
• Prepare their next move (plan b)
• problem solvers,
• conceive new ideas,
• achieve innovative solutions.
• good communication
• updated with the current scenario of the market
• dedicated and passionate towards their work.

8. FUNCTIONS OF ENTREPRENEUR:
• Create a new idea for product or service:
• To Research:
• To Manage the business:
• To Organize the resources(machines, computer,
equip):
• Have to Make decisions:
• To maintain good public relations:
• Abide by statuary obligation:
• Able to divide income:

9. IMPORTANCE OF ENTREPRENEUR:
• By establishing the business entity, entrepreneurs
invest their own resources and attract capital
from investors and public.
• They are job creators.
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.

12. 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.
• Only young can do the entrepreneurship

13. 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. Hardware making, furniture making, etc.
are few examples.

14. • 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.
• 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

15. • .
• 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.