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Entrepreneurship Skills

This PPT explains Entrepreneurship Skills-I for CBSE Class 9 AI(417).

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mithu_fac
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116 views14 pages

Entrepreneurship Skills

This PPT explains Entrepreneurship Skills-I for CBSE Class 9 AI(417).

Uploaded by

mithu_fac
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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EMPLOYABILITY SKILLS

SELF-MANAGEMENT SKILLS-I
Topics to be
covered ENTREPRENEURIAL SKILLS-I

ICT SKILLS-I
ARTIFICIAL
INTELLIGENCE

SUBJECT SPECIFIC
EMPLOYABILITY SKILLS
SKILLS
SELF-MANAGEMENT
SKILLS-I

EMPLOYABILITY
ENTREPRENEURIAL
SKILLS-I

ICT-I
ENTREPRENEURIAL SKILLS-I
A Business, is a state of being busy as an individual or as an organization
in a profit earning economic activity.

Types of Business

Manufacturing Merchandising Service Hybrid


Types of Business
Manufacturing:- This kind of business uses raw materials, labor,
technology, capital and other resources for the production of finished
goods.
Merchandise:- This kind of business we come across in our daily life. In
this, the finished products are purchased at wholesale price and sold to the
consumer at retail price. The form of the products is not changed but the
products are sold at a little higher price than the purchase price that helps
Service:- This kind of business provides services in the form of consulting,
them earn profits.
accounting, hospitality and many more of such types which can be
delivered either physically or in a digital form through the internet or
Hybrid:- This kind of business is a mix of two or more different types of
mobile apps.
business. For example, Restaurant is in manufacturing by preparing a ready
to eat food in the form of fine dining, at the same time works are
merchandiser by selling beverages along with fine meals. It also provides
services by serving home deliveries through online or offline orders.
What is Entrepreneurship?
Entrepreneurship is setting up your own business in an innovative
manner which may have great risks and desires to earn more profits.
There are four main elements of entrepreneurship:-
• Innovation :- It means doing something in a creative and different way.
• Organization :- This plays an important role if a startup is launched at a
large scale with a big investment. Though an entrepreneur is a person
leading the whole business with his ideas but the other employees
working in an organization are equally important for the success of the
startup.
• Risk Bearing :- Doing a business with a new idea is always associated with
risk. But taking a calculated risk is an important element of
entrepreneurship. This will bring change in the society by bringing new
products and services.
• Perception :- Entrepreneur should have a strong perception of running a
business in an innovative manner. An entrepreneur should implement
her/his plans and ideas in such a way that helps to achieve long terms
Characteristics of an Entrepreneur
Risk Taking Capability:- An entrepreneur should have enough courage to
evaluate and take risks to establish his newly setup business.
Innovative:- Setting a new business in an innovative manner is a unique
characteristics
Visionary andof an entrepreneur.
Leadership Quality:- Entrepreneur should have strong
leadership qualities and a strong vision of earning profits through his
innovative new venture. The employees working with will strongly believe
her/him
Open and follow
Minded:- Anher/his commands
Entrepreneur even
should be at times
open for of
allturmoil.
circumstances and
suggestions for the betterment of the business.
Flexible:- An Entrepreneur should understand that all days are not same
and all strategies don’t work, so he should be ready to adapt as per the
Knows
situationhis
forProduct:-
the benefitAn
ofEntrepreneur
the business.should her/his product market value
well.
Role of an Entrepreneur
Economic Development:- With innovative ideas, Entrepreneur brings
faster economic development. Some of the important roles in Economic
Development:-
 Mobilize revenue of country.
 Increase national wealth.
 Efficiently using of local urban human resources.
 Establish industries in backward and rural areas to bring balanced
Social Development:-
regional development.Entrepreneurs provide people with good quality

products
Increaseand services inspires
production them
activity and to push
utilize idlethe boundary
land of natural
and other social
development.
resources. Some of the important roles in Social Development:-
 Create employment opportunities for many people.
 Provide basic necessity of the society.
 Redistribute the income and wealth.
 Innovate to improve quality of life.
Core Skills of an Entrepreneur
 An Entrepreneur should always be disciplined, dedicated and
 hard working from a very early stage.
Must be highly optimistic and have a positive
 attitude to deal with obstacles.
Must be innovative to meet the dynamic needs of
customer and increase market potential.
 Must be calculative while taking risk to avoid negative
impact on her/his enterprise.
 Must have Good Communication Skills.

 Must have Strong Leadership Qualities.


Challenges of an Entrepreneur
 No Regular Income.

 Emotional Risk

 No fixed hours of working

 No personal time

 Market and operational Challenges

 Management Issues
Rewards of an Entrepreneur
 Master of own time:- An Entrepreneur decides own working hours. It is
totally her/his deceiiosn to give either long hours or only few hours to
 business.
Lives passion:- An entrepreneur lives her/his dreams. She/He can pursue
 what
Own she/he
Boss:- is
Anpassionate about
entrepreneur in life.
creates own empre. She/He is the leader of
her/his troop and master of other works under her/him.
 Makes profits for self:- An entrepreneur works for herself/himself and
her/his own business. So if profit is earned, it will be totally her/his
decision where to put the money earned. It can be invested to expand
business or can be saved for rainy days.
Difference between Businessman and Entrepreneur
Businessman Entrepreneur
Meaning A businessman is a person who starts a business An entrepreneur is a person
based on an idea already existing in a society. who starts an enterprise with a
new idea or concept.
Market Market Player who creates his own place in the Market Leader who creates his
Status existing market. own market.
Risk Factor Risk Factor is less. Risk factor is high.
Procedures Follows traditional procedures. Unconventional procedures.
Competitio High Low
n
Focus Profit Customers, Employees, profits
and society.
THANK YOU

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