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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



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