Page 113 - Design Thinking C11

5. (a) Willingness to take risks: There is an element of risk in any business. It means that it is not required for
every firm to make a profit. This discourages people from taking risks and starting their own businesses.
An entrepreneur, on the other hand, always offers to take risks in order to manage a successful firm.
(b) Ability to make decisions: While 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. Things move
at a breakneck pace in the modern world. If an entrepreneur lacks the ability to make appropriate and
timely judgments, he or she may miss out on an opportunity and incur damages.

VI. Perseverance can be built in the following ways:
• Never giving up when faced with a difficult situation
• Working hard to achieve your goal
• Learning from failures

I. Multiple Choice Questions.
1. entrepreneurs are those who focus on generating solutions that benefit the Unsolved Questions
society.
(a) Social (b) Women

(c) IT (d) Professional
2. Startups rely on provided by angel investors or venture capital firms.
(a) furniture (b) funding

(c) support (d) capital
3. To become an entrepreneur, one must have vision, , and innovativeness.
(a) originality (b) resourcefulness

(c) ingenuity (d) creativity
4. Prashant works for Surabhi, who is a businesswoman. Prashant is an . [NCERT]

(a) entrepreneur (b) wage employed person
(c) skilled worker (d) businessman
5. The ability to act in a situation before others do is . [NCERT]
(a) interpersonal skills (b) initiative

(c) perseverance (d) creative

II. Fill in the blanks.
1. To establish a successful business, an entrepreneur requires a variety of .
2. rely on funding provided by angel investors or venture capital firms.

3. Entrepreneurs must be able to put their ideas into .
4. An entrepreneur consistently sets standards.
5. assists an entrepreneur in understanding a situation or problem by asking oneself questions
(why, what, when, and how) and studying the causes of the situation or problem.

Entrepreneurial Skills-IV
111