Fundamentals of Entrepreneurship · Class 11 Commerce
Ch 1Entrepreneur — Class 11 Fundamentals of Entrepreneurship, concept-first.
An entrepreneur is a person who conceives an idea for a new product or service, organises the resources needed to turn that idea into a working enterprise, and then runs it while carrying the risk of loss in the hope of earning profit.
Key concepts
Hover a concept to preview it and jump to its most relevant Q&A.
Meaning and Nature of an Entrepreneur
An entrepreneur is a person who undertakes a new venture — spotting a business opportunity, organising land, labour, capital and knowledge to exploit it, and bearing the risk and uncertainty of the outcome in the hope of…
Most relevant Q&A
Chapter contents
The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.
Meaning and Definition of Entrepreneur
An entrepreneur is a person who conceives an idea for a new product or service, organises the resources needed to turn that idea into a working enterprise, and then runs it while carrying the risk of…
The Charms of Being an Entrepreneur
Why do people choose the demanding path of entrepreneurship instead of a salaried job? The charms — the attractions or rewards — explain the pull. They are partly financial and partly personal.
Essential Qualities of an Entrepreneur
Not everyone who starts a business succeeds. Successful entrepreneurs tend to share a set of personal qualities and competencies.
Factors Affecting Entrepreneurial Growth
Entrepreneurship does not grow in a vacuum. Whether entrepreneurs emerge in large numbers and thrive depends on the surrounding environment.
Types of Entrepreneurs
Entrepreneurs are not all alike; they can be classified in several ways.
Exercises
+−Show 12 questionsHide questions12 questions
- Q1Who is an entrepreneur? Explain the meaning of the term.Free
- Q2Distinguish between the terms 'entrepreneur', 'entrepreneurship' and 'enterprise'.Free
- Q3What are the charms (attractions) of being an entrepreneur? Explain any five.Free
- Q4"An entrepreneur enjoys independence but also bears heavy responsibility." Comment.Preview
- Q5Explain the essential qualities that a successful entrepreneur should possess.Preview
- Q6"An entrepreneur is a calculated risk-taker, not a gambler." Explain.Preview
- Q7Explain the economic factors that affect entrepreneurial growth.Preview
- Q8Discuss the non-economic factors that influence the growth of entrepreneurship.Preview
- Q9How does government policy affect entrepreneurial growth? Explain.Preview
- Q10Explain the different types of entrepreneurs on the basis of Danhof's classification (attitude to innovation).Preview
- Q11Classify entrepreneurs on the basis of (a) type of business, (b) use of technology, and (c) scale of enterprise.Preview
- Q12Which of the following is NOT an essential quality of an entrepreneur? (a) Calculated risk-taking (b) Innovativeness (c) Avoidance of all de…Preview