Page 103 - AI Ver 3.0 class 10_Flipbook
P. 103
UNIT-4
ENTREPRENEURIAL
SKILLS-II
Learning Outcomes
• Entrepreneurship and Society • Customers' Needs, Wants and Demands
• Work Done by an Entrepreneur • Qualities of an Entrepreneur
• Functions of an Entrepreneur • Role of an Entrepreneur
• Importance of Entrepreneurs • Advantages of Entrepreneurship
• Disadvantages of Entrepreneurship • Myths/Misconceptions about Entrepreneurship
• Entrepreneurship as a Career Option
An entrepreneur is a person who starts his/her own business in an innovative manner and bears all the risk in
the hope of gaining significant profit and contributing to the economy of the country. Anyone with a passion to
fulfil his/her dreams of converting his/her ideas to real business and dealing with all the risks can become an
entrepreneur.
Entrepreneurship is a driving force of our modern global economy. It is an art of starting, surviving and growing a
business in a competitive market.
Entrepreneurs are all around us. Successful entrepreneurs have the following qualities:
• They are confident and have faith in their abilities.
• They continuously experiment with new ideas in their business.
• They exhibit patience.
• They are creative, approaching business ideas from unique perspectives.
• They own up to their actions.
• They make decisions thoughtfully.
• They are diligent workers.
• They persist despite facing challenges.
Entrepreneurs operate their business within a marketplace where individuals buy and sell products and services.
This exchange benefits everyone involved as it generates income for all participants. In this way, entrepreneurs
contribute to the growth of their community and society.
Entrepreneurship and Society
There are two ways in which a person can earn their livelihood i.e. wage employment and self-employment.
Wage employees are individuals who are employed by another person or organisation and receive compensation
for their work. For example, office employees, factory workers, retail staff, and professionals working for a
corporation or business.
Entrepreneurial Skills-II 101

