Page 93 - IT 402 v2.0 class 10
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. iven any two ualities of a successful entrepreneur.
ns. Hard work: ithout working hard no entrepreneur can be successful. On an average successful entrepreneurs
are found to be working anywhere between to hours per week which is much higher than hours per
week. ntrepreneurs use a lot of trial and error and keep putting in work till they succeed.
Optimism: ositivity and belief in what they do is what takes entrepreneurs far in their ourney. ntrepreneurs
should get think negatively or be afraid of adverse situations. For an entrepreneur part of being optimistic is
about learning from mistakes and failures and finding alternative ways to do things.
. ive any two promotional functions of an entrepreneur.
ns. Idea Discovery: he first step towards entrepreneurship is discovery of a business idea. n entrepreneur comes
up with a business idea and thinks about ways to implement it. It is about seeking opportunities for a specific
type of business and finding ways to commerciali e on it. sually entrepreneurs work around the process of idea
discovery by exploiting natural resources finding a market need or calculating the profit potential.
Detailed Investigation: hile coming up with ideas can seem like an easy process the challenge is to
understand if the idea has the potential to turn into a viable business venture. For this an entrepreneur
conducts research investigates and evaluates an idea considering various factors and estimates the total demand
for a new product or service.
5. Name the person who combines factors in a creative manner to generate value for customers and create wealth.
ns. ntrepreneur
. Name the skill that help anyone to lead guide and supervise people who work for the business.
ns. eadership
. ntrepreneurs are not ob seekers but they create opportunities of employment for people. rue False
ns. rue
. ist any four characteristics of entrepreneurship.
ns. Four characteristics of entrepreneurship are:
hey are very clear with their targets.
hey are courageous and are always ready to take risks.
hey are creative and innovative.
hey have good communication skills.
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