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Critical Thinking
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. Entrepreneurs must always think critically when faced with a
challenge. Just worrying about the problems does not make them go away.
Difference between the Attitude of Entrepreneurs and Employees are.
Entrepreneur Employee
An entrepreneur believes in himself or herself so that When an employee starts a new job, he or she is usually
he/she may confront any problem with confidence and managed by someone who assists and encourages him/
succeed. her.
An entrepreneur is accountable for ensuring that the An employee meets the company's objectives. Not all
work they do offers value to the customer. Entrepreneurs employees of a company work directly to meet the
determine what type of job to do and how to execute demands of clients. They may or may not have any direct
it. They make their own decisions and work to complete obligation to the customer.
the task.
Entrepreneurs typically work in an uncertain An employee's employment is usually internal and is
environment, where they have no idea what will happen unaffected by the outside world. As a result, believing
once, they begin anything new. As a result, it is critical in change is not required for an employee to do their
for an entrepreneur to remain optimistic and think that duties.
the market situation can change.
Generating a Business Idea
A business idea is a solution that entrepreneurs think about to serve their customers. The idea determines what business
an entrepreneur pursues to make a profit. The idea can be a product, service, or hybrid model. There are a few important
points to consider while thinking of an idea.
Business Idea
Understanding
the market
Planning the
business
Task
Growing
Business
1. What is the purpose of a business idea?
2. What do you understand by critical thinking?
Customer’s Need
An idea must satisfy the customer’s demand or need. A business idea can occur from an existing need in the market
or from a desire to improve what is already in the market. The product or service may not satisfy the customer’s needs.
Hence, there is a need to fill the gap. So, an entrepreneur thinks of starting a business to fulfill this need.
Entrepreneurial Skills-III 75

