Page 83 - Artificial Intellegence_v2.0_Class_12
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• Willingness to take risks: here is an element of risk in any business. It means that it is not required for every firm
to make a profit. his discourages people from taking risks and starting their o n businesses. An entrepreneur, on
the other hand, al ays offers to take risks in order to manage a successful firm.
• Ability to learn from mistakes: An entrepreneur is bound to make mistakes. o ever, if an error is made, it must be
avoided because it might result in significant costs. As a result, the individual must be able to learn from e perience.
• Motivation: otivation is essential for success in all aspects of life. hen you're inspired to do anything, you on't
stop until you finish it. or e ample, you may become so engrossed in reading a tale or maga ine that you do not
sleep until you finish it. otivation generates this level of interest in one's task. It is a necessary characteristic for
being a successful entrepreneur.
• Sel con dence: o be successful in life, one must have faith in oneself. omeone ho lacks confidence may not be
able to achieve much in life or motivate others to ork. ourage, passion, and capacity to lead are all manifestations
of self assurance.
• ard ork: In life, there is no replacement for hard ork. very day, one or more problems may develop hile
running a business. An entrepreneur must be atchful in order to recognise and fi difficulties as soon as possible.
his necessitates a lot of effort on the side of the entrepreneur. In some cases, the entrepreneur may have to ork
through the night. hus, for an entrepreneur, hard ork is the key to success.
• Ability to make decisions: hile running a business, an entrepreneur must make a variety of decisions. As a result,
the individual must be capable of making appropriate and timely decisions. hings move at a breakneck pace in the
modern orld. If an entrepreneur lacks the ability to make appropriate and timely udgments, he or she may miss
out on an opportunity and incur damages.
Experiential Learning
Video Session
can the code or visit the follo ing link to atch the video hat is an ntrepreneur
https .youtube.com atch v prDs y ag
After atching the video, ans er the follo ing question
rite any t o qualities of an entrepreneur.
Types of Entrepreneurs
here are various types of entrepreneurs. et us learn about some of them in detail.
Entr epr eneur s W ho Pr ovide S er vices
hese entrepreneurs either develop a ne market for their services or offer a service in an already e isting market. hey
identify an idea and turn it into a service that is either unique or not available in the market. It is fundamentally a service,
regardless of the kind or scale of operation.
Entr epr eneur s in B usiness
hese are entrepreneurs ho engage in commercial and trading activities but are not involved in production. A business
entrepreneur recognises a product's market potential. rom that point for ard, it is the responsibility of the company
and trading entrepreneur to stimulate demand for the goods. he product may e ist in a foreign market, but the
individual can increase demand for it in the local market.
E ntre pre ne uri al S ki l l s- IV 81

