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•  They work for the welfare of the society by saving the environment, contributing their money to build new schools
                   and hospitals in their locality.
                 •  They create jobs by hiring the skilled and unskilled labourers and helps in bridging the gap of unemployment.
                 •  With the success of an entrepreneur the people connecting to it, all shares the success and thus helps in the overall
                   development of the country.
                 •  With  the  increasing  competition  of  the  entrepreneurs  in  the  market  the  products  are  available  at  low  and
                   competitive cost.
                 What do Entrepreneurs do when they Run their Business?

                 Entrepreneurs manage their business operations, making strategic decisions to drive growth and profitability. They
                 also innovate, adapt to market changes, and solve problems to meet customer needs and demands. Some of the
                 actions of entrepreneurs are listed below:
                 •  Fulfill Customer Needs: Demand means a product or service that people want. Entrepreneurs find out what people
                   want. Then, they use their creativity to come up with a business idea that will fulfill the changing demands of the
                   customers.
                 •  Use Local Materials: Entrepreneurs utilise available materials and people around them in innovative ways, combined
                   with new technology, to create new products at a reasonable cost.
                 •  Help Society: Entrepreneurs foster a beneficial relationship with society by generating profits through activities that
                   enhance societal well-being. Some entrepreneurs focus on environmental conservation, while others contribute
                   funds for building schools and hospitals, thereby improving the communities in which they live.
                 •  Develop the Country: With the success of an entrepreneur the people connected to it all share the success and thus
                   helps in the overall development of the country.
                 How do You Think Entrepreneurs Effect the Society they Live in?

                 Entrepreneurs can positively impact society  by  driving  economic  growth, and  introducing  innovative  solutions
                 to societal challenges. Their businesses often contribute to community development and inspire others to pursue
                 entrepreneurship. Some of their initiatives are explained below:
                 •  Creative Jobs: With the growth of a business, entrepreneurs look for more people to help them. They buy more
                   material, and from more people. They create jobs by hiring the skilled and unskilled labourers and help in bridging
                   the gap of unemployment.
                 •  Sharing of Wealth: Wealth signifies having sufficient money to lead a comfortable life. As entrepreneurs expand
                   their businesses, the individuals working with them and in associated sectors also experience growth, providing
                   them better quality of life.
                 •  Lower Price of Products: As more entrepreneurs sell the same product, the price of the product goes down. With the
                   increasing competition of the entrepreneurs in the market the products are available at low and competitive price.
                   For example, with the increasing sale of mobile phones in India, the price reduced and now these are affordable by
                   everyone.




                        Tick ( ) if you know this.
                           Entrepreneurship is a driving force of our modern global economy.
                           Society also plays an important role in boosting entrepreneurship.

                           Entrepreneurship brings more employment.
                           An entrepreneur is a person who starts their own business.



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