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Despite starting small, Murthy and his team built Infosys into one of India's largest IT services companies,   We will also discuss the entrepreneurship process, which involves three key stages: entering the market,
 pioneering the Indian IT outsourcing industry and creating thousands of jobs globally.  overcoming  challenges,  and  growing  the  business.  By  understanding  these  stages,  you’ll  gain  insights

 Misconception 4  into how entrepreneurs build and manage successful businesses, and why choosing entrepreneurship as a
                 career can be both exciting and rewarding.
 Entrepreneurs are born, not made: This misconception suggests that entrepreneurial skills and abilities
 are  innate  traits,  not  something  that  can  be  learned  or  developed  through  education,  experience,  and
                   ENTREPRENEURSHIP AS A CAREER
 perseverance.
 For example, Kunal Shah, co-founder of FreeCharge, started his entrepreneurial journey by founding a company   A career is the path of professional activities and roles that a person pursues throughout their working life.
 called PaisaBack, which was later acquired. He then co-founded FreeCharge in 2010, a mobile payments   It involves the series of jobs, positions, and experiences accumulated over time within a specific field or
 company that revolutionised digital payments in India. Shah's success demonstrates that entrepreneurship   industry. While traditionally seen as a lifelong commitment to a particular line of work, modern perspectives
 is not just about innate talent but also about learning from experiences, adapting to market needs, and   on careers recognise that they can be dynamic and evolve based on personal growth, changing interests, and
 persistently innovating to create value.  economic conditions.

                 A career is a line of work that a person takes for life. There are two ways a person can earn a living. They are:
 BUSINESS VS ENTREPRENEURSHIP
                 1.   Self-Employment: It refers to individuals who work for themselves rather than for an employer. They
 The terms "businessman" and "entrepreneur" are often used interchangeably, but they represent different   may operate their own businesses, freelancing, consulting, or working as independent contractors. A self
 aspects  of  business  activity  and  approach.  Here  are  the  key  differences  between  a  businessman  and  an   employed person, always trying to make his/her business better by taking risks and trying new ideas is
 entrepreneur:       an entrepreneur.

 Aspect  Businessman  Entrepreneur  2.   Wage Employment: Wage employment refers to individuals who work for an employer and receive regular
                     wages or salaries in exchange for their services. They typically follow a set schedule and report to a supervisor
 Focus  Manages and operates an established   Identifies and exploits new business
                     or manager. The people who work for some organisation and get paid for that are wage employed.
 business.  opportunities.
 Role  Oversees day-to-day operations, resource   Involved in all aspects of business creation   Entrepreneurship Process
 management.  and growth.  The  entrepreneurship  process  begins  with  idea  generation,  where  potential  opportunities  are  identified
                 through brainstorming and evaluating unmet market needs. This is followed by research and planning, which
 Risk  Takes calculated risks within existing   Embraces high levels of risk in pursuit of
                 includes  conducting  market  research  to  understand  industry  trends  and  competitors,  and  performing  a
 business framework.  innovation.
                 feasibility study to assess the viability of the idea.
 Innovation  Focuses on incremental improvements   Introduces novel solutions, technologies, or
                 A comprehensive business plan is then developed, detailing the business strategy, target market, financial
 within the business.  models.
                 projections, and operational plan. This structured approach helps transform innovative ideas into successful
 Example  CEO of a manufacturing company ensuring  Elon Musk, creating SpaceX and Tesla,   business ventures by providing a clear road map and mitigating risks along the way.
 profitability.  pushing boundaries.
                 New business venture creation includes launching a company, buying a business, taking a franchise, starting
 For example: Mahesh and Rajesh both own chemist shops in the same area.   a new venture in a family business or commercialising a technology.
 Mahesh sits at his shop and when the customers come, he sells medicines.   A person who becomes an entrepreneur goes through a career process. This process is as follows:
 Rajesh, along with medicines has also collaborated with near by Lab. He also get medicines delivered at
                   Enter: The "Enter" stage marks the beginning of the entrepreneurial journey, where
 home, offers sugar, BP testing services at home, gives attractive discounts and offers on Lab tests.
                   the  entrepreneur  identifies  a  business  opportunity  and  launches  their  venture.
 Rajesh has added innovative ideas to grow his business. So he is an entrepreneur while Mahesh is a businessman.
                   This phase involves the decision to become an entrepreneur and the initial steps
 “The best way to predict the future is to create it” is true for entrepreneurs. Entrepreneurship is full of uncertainty.
                   taken  to  establish  a  business.  It's  often  characterised  by  passion,  vision,  and  a
 If anyone accepts that, he is willing to embrace it. Entrepreneurs are independent minded, innovative business
                   willingness to take risks. For example: Sarah starts a baking business after receiving
 people which make them self-starter. An entrepreneur can be an artist, educator, businessman, service sector
                   positive feedback from friends.
 worker or an inventor. Entrepreneurial careers can be found in just about every field.
                                         Survive: Once the business is up and running, the focus shifts to survival. This phase
 SESSION  4  Entrepreneurship as a Career Option  involves navigating challenges such as securing funding, building a customer base,
                                        managing  cash  flow,  and  overcoming  obstacles.  It  focuses  on  overcoming  initial
 In this session, we will explore entrepreneurship as a career option. Entrepreneurship provides individuals   challenges and ensuring the business remains viable and operational. For example:
 with the chance to be their own boss, follow their passions, and make a meaningful contribution to the   Facing tough competition and high costs, Sarah adjusts prices and manages expenses
 economy.                               carefully to stay afloat.



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