Page 98 - Web Applications (803) Class 12
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At a Glance
• The term ‘entrepreneur’ is derived from the French word entreprendre, that means "to undertake."
• Entrepreneurship can be defined as “an economic process in which an idea or an opportunity is generated,
improved, developed, and implemented while being exposed to uncertainty in order to realise a profit
through effective resource utilisation.”
• Entrepreneurship is the perfect combination of art and science because it involves definite progression and
procedures to be followed as well as the ability to deviate whenever necessary while still making the entire
activity profitable and growth-oriented.
• The qualities of a successful entrepreneur include initiative, willingness to take risks, ability to learn from
mistakes, motivation, self-confidence, hard work, and ability to make decisions.
• There are various types of entrepreneurs.
• The essential functions of an entrepreneur include identifying business opportunities, putting ideas into
action, feasibility study, resources, establishing an enterprise, managing the business, and growth and
development.
• Qualities that motivate an entrepreneur are excellence as a standard, uniqueness, concentrating on long-
term goals, exerting influence, identifying possibilities and taking risks.
• A startup is a business that is in its early stages of development.
• The Government of India's flagship initiative, ‘Startup India,’ aims to create an ecosystem for the growth of
startup businesses.
Exercise
Solved Questions
SECTION A (Objective Type Questions)
uiz
A. Tick ( ) the correct option.
1. means not to give up and keep going even when a challenging situation arises while running a business.
a. Motivation b. Self-awareness
c. Perseverance d. Determination
2. An acts as a means of assisting budding entrepreneurs in recognising and designing
one-of-a-kind distinctive business possibilities.
a. entrepreneurship development programme b. stress management programme
c. business development programme d. mentor development programme
3. Which among the following is a part of entrepreneurship process?
a. Developing of business plans
b. Using innovation, launching and running the business
c. Both a and b
d. None of these
96 Touchpad Web Applications-XII

