Page 77 - Artificial Intellegence_v2.0_Class_11
P. 77

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
   72   73   74   75   76   77   78   79   80   81   82