Page 93 - AI Ver 3.0 Class 11
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3.  What are the differences between the attitude of Entrepreneurs and Employees?
                     Ans.
                                            Entrepreneur                                     Employee

                           An entrepreneur believes in himself or herself so that  When  an  employee  starts  a  new  job,  he  or  she
                           he/she  may  confront  any  problem  with  confidence  is usually managed by someone who assists and
                           and succeed.                                     encourages him/her.


                           An entrepreneur  is accountable  for  ensuring  that  An  employee  meets  the  company's  objectives.
                           the  work  they do  offers value to the  customer.  Not all employees of a company work directly to
                           Entrepreneurs determine what type of job to do and  meet the  demands of clients. They  may or  may
                           how to execute it. They make their own decisions and  not have any direct obligation to the customer.
                           work to complete the task.

                           Entrepreneurs typically  work  in an  uncertain  An  employee's  employment  is  usually  internal
                           environment,  where  they  have  no  idea  what  will  and  is unaffected by  the  outside world.  As a
                           happen once, they begin anything new. As a result, it  result, believing in change is not required for an
                           is critical for an entrepreneur to remain optimistic and  employee to do their duties.
                           think that the market situation can change.


                       4.   "Surveying customers is an exercise entrepreneurs do to understand if there is a market for what they have to offer."
                          Elaborate.
                     Ans.   Through surveying, entrepreneurs try to find out if they meet the needs of their customers and also understand
                          what their preferences are. Surveying customers is one of the most effective ways to find out what customers want.
                          Surveying can be done by talking directly to customers and asking them questions. Entrepreneurs are directly
                          responsible for ensuring that the needs of customers are met by the products or services offered by them. In
                          business, it is very important to understand exactly what most customers want.
                       5.  Explain how perseverance and confidence make an entrepreneur successful?
                     Ans.  Perseverance means not giving up and continuing even when difficult situations arise. There are many challenges
                          involved while running a business. A responsible entrepreneur overcomes these challenges, learns from them,
                          and moves on, no matter what. Entrepreneurs need to stay optimistic and motivated when things get tough.
                          While working hard, an entrepreneur also needs to think about improvement and growth. Perseverance doesn't
                          mean doing the same process over and over again. It means finding different and creative ways to overcome
                          difficulties and always thinking about achieving the goal no matter what happens along the way.  Confidence
                          means believing in yourself and your approach. Confidence helps business owners take the first step to start a
                          new business, and then try new things to grow their business. It encourages entrepreneurs to continue even if
                          they fail. Confidence also encourages business owners to visit customers and seek feedback on their products
                          or services. Feedback helps entrepreneurs further improve and grow their businesses


                 C.   Competency-based/Application-based question:                         #Ethical & Moral Reasoning

                     Mamta has started a small business selling ready made lady garments online. However, she is just managing to make
                     ends meet – profit margin is very less. Which values would you suggest to Mamta to turn her business into a successful
                     venture?
                 Ans.  Perseverance, positive, open mindedness and stay motivated.









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