Page 86 - IT 402 v2.0 class 10
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ENTREPRENEURSHIP AS A CAREER OPTION
“ he best way to predict the future is to create it” is true for entrepreneurs. ntrepreneurship is full of uncertainty.
If anyone accepts that he is willing to embrace it. ntrepreneurs are independent minded innovative business
people which make them self-starter. n entrepreneur can be an artist educator businessman service sector
worker or an inventor. ntrepreneurial careers can be found in ust about every field.
New business venture creation includes launching a company buying a business taking a franchise starting
a new venture in a family business or commercialising a technology.
Careers in Entrepreneurship
One can come up with a new idea be it a type of themed restaurant or a coaching institute. It depends on the
individual what is his idea and what resources are needed to launch it. et us now learn about various career
options in ntrepreneurship.
Service Business: service business is a company that provides work performed in an expert manner
by an individual or a team. It can be anking onsulting leaning ducation Insurance ransportation
Services and many more.
Manufacturing Business: Manufacturing business buys raw material with the intention of using them as
ingredients in the making of a new product. It combines raw material and labour in its production. he
manufactured goods will then be sold to customers. ardware making furniture making etc. are few examples.
Sole Proprietorship Business: he most common type of business found in India is sole proprietorship.
ll businesses we see around like the local grocer carpenter shopkeeper etc. are sole proprietorship. It is
an ideal choice to run a small scale business.
Buying a Franchise: franchise is an agreement between a small business owner franchisee and the
parent company franchiser . he parent company gives the right to sell company s product and often
provides support like advertisement and supplier relationship in return for a franchise fee and some percent
of the profit.
Copying an Existing Business: Identify a good going local business started by someone else. One can
also take help from internet. fter researching on it thoroughly and planning for the execution establish
the business. Make sure the business does not violate someone else s trademark copyrights or other
protected intellectual property.
Work from Home Business: Many small business ideas can be launched from home only. his can be
anything from opening a bouti ue to writing blogs.
Recap Zone
ntrepreneurship is successful if the entrepreneur is creative innovative and he she uses the resources
that are available in the society or country.
Society also provides financial support for entrepreneurs.
n entrepreneur tries new innovative ideas that help to increase income.
ntrepreneurship plays an influential role in many aspects.
ntrepreneurship is a ourney and an entrepreneur has to go through many ups and downs.
service business is a company that provides work performed in an expert manner by an individual
or a team.
franchise is an agreement between a small business owner franchisee and the parent company
franchiser .
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