Page 91 - Data Science class 10
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• Marketing:  It is the flow of the product or  service from the hands of the producer  into the hands of the
              end customer or  user. An entrepreneur  has to take care that  marketing should be given an importance  in
              highlighting the company’s greatest strengths with greater emphasis on their product's value to the customer.
              It is an important tool that can be used efficiently by newly launched companies to define their image in the
              minds of consumers.
               • Human Resource Management: It refers to selection, recruitment, training, development and compensation of
              the employees in an organisation. It takes care of the staff activities and the expectations so that the organisation
              effectively uses the manpower to accomplish its mission and goals.

              Activity        1


              Answer the following questions:
              1.  Explain the term entrepreneur.
              2.  What is the quality of a successful entrepreneur?
              3.  Explain the following quality of a entrepreneur:
                 a.  Hard Working                                b.  Self-Confident




            4.5. ROLE OF AN ENTREPRENEUR

            In order to become successful, an entrepreneur needs to perform different
            roles. The following are the roles of an entrepreneur:
               • Innovator’s Role: An entrepreneurship is about new and creative ideas
              converted into a real world of business  which is  beneficial both for
              the entrepreneur in making profits and for the customer in getting a
              new product in the market. All those once was just an idea but only
              entrepreneurs brought those ideas to life.
               • Agent’s Role: Entrepreneurs are considered  as ‘Agents of Change’.  They  look for  opportunities that  help
              in converting their dream or passion into reality by initiating and creating a business and converting all the
              challenges faced into a new successful product. This product creates a new market and helps in raising the
              standards of the community and contribute to the overall development of the economy.

               • Risk Assumption Role: An entrepreneur assumes all possible risks of business which emerges due unstable
              market conditions, change in the customers preferences, new emerging technologies in the production, change
              in environmental factors and fluctuations in the profits.

               • Capital Formation Role: Setting up an enterprise needs investment. This investment is taken from personal
              savings, loans, shares etc. The money is utilised in the capital formation like developing infrastructure in the
              nearby area, developing the network and transport facilities. All these efforts help in the company trade and
              capital formation of the country.
               • Employment Generation Role: Entrepreneurs generate employment for both skilled and unskilled labourers by
              setting up large- and small-scale businesses. This leads to the reduction in unemployment levels in the country.





               India currently houses the world's third largest startup ecosystem, with 38 firms being valued at over $1 billion.







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