Page 79 - Data Science class 11
P. 79

•  An entrepreneur's attitude influences his choice of action when running a business.
                  •  Problem-solving is a thought process through which an entrepreneur can come up with multiple solutions
                  to improve his business.
                  •  Creativity means to come up with ideas that others have not thought of before.
                  •  Innovation means coming up with new ideas and finding ways to implement them.
                  •  Critical thinking means understanding the situation or problem by asking questions like why, what, when,
                  how, and investigating the situation or the reason for the problem.
                  •  The idea determines what business an entrepreneur pursues to make a profit. The idea can be a product,
                  service, or hybrid model.
                  •  Entrepreneurs are directly responsible for ensuring that the needs of customers are met by the products or
                  services offered to the company.
                  •  Business owners need to survey all possible businesses to find out what is available in the market and what
                  their competitors are doing.
                  •  A business plan is a detailed plan of what entrepreneurs want to achieve in a company and how to achieve it.
                  •  After starting a business, entrepreneurs need to think about how to continue to improve and grow by adding
                  value to their business for attracting customers.


                                                         Exercise





                                                     Solved Questions

                                              SECTION A (Objective Type Questions)
                  uiz
            A.  Tick ( ) the correct option.

                1.   What  is the  process of  developing  a  business plan,  starting  and  running  a  business with  innovation,  meeting
                     customer needs and generating profits called?

                     a.  Entrepreneurship                            b.  Capitalism
                     c.  Democracy                                   d.  Entrepreneur
                2.   A                is a detailed plan of what entrepreneurs want to achieve in a company and how to achieve it.
                     a.  plan                                        b.  Community plan

                     c.   business plan                              d.  Either a or b
                3.                  is an exercise entrepreneurs do to understand if there is a market for what they have to offer.
                     a.  Competition survey                          b.  Population survey

                     c.  Both a and b                                d.  Surveying customers
                4.   After starting a business, entrepreneurs need to think about how to continue to      and grow by
                     adding value to their business for attracting  customers.
                     a.  adjust                                      b.  improve
                     c.  grow                                        d.  plan

                5.   Business idea can be a product, service, or        .
                     a.  Dynamic model                               b.  Eco model
                     c.  Hybrid model                                d.  All of these

                                                                                 Entrepreneurial Skills-III  77
   74   75   76   77   78   79   80   81   82   83   84