Join Your Exam WhatsApp group to get regular news, updates & study materials HOW TO JOIN

Information of CBSE Class 11 Commerce Entrepreneurship An Entrepreneur

Information of CBSE Class 11 Commerce Entrepreneurship An Entrepreneur

CBSE Class 11 Commerce Entrepreneurship An Entrepreneur : CBSE has introduced the CBSE Entrepreneurship syllabus for the student so that they will come to know about the topics they need to learn from CBSE official NCERT Books. CBSE has introduced number of combination of the subjects for commerce students like Commerce with Entrepreneur, commerce with marketing, commerce with Maths and so on CBSE had introduced this subject to promote the business in India. CBSE Syllabus for Entrepreneurship includes theoretical as well as practical course too. It is design in such a manner that the entrepreneurship skills of the students will increase. In practical part, CBSE Entrepreneurship Syllabus includes an industries visit, Market visits and report on it. It will help students to run the important prospectus of running the business. The main idea behind is to promote entrepreneurship skills in the students and to motivate them to do self business. CBSE introduced this combination for the students of class 11th and 12th.

Information of CBSE Class 11 Commerce Entrepreneurship An Entrepreneur

CBSE Class 11 Commerce Entrepreneurship An Entrepreneur : You can find the notes for the second chapter of CBSE class 11 entrepreneurship in this page. This chapter focuses on introducing the students to different varieties of entrepreneurs, give them a good knowledge of the competencies required by an entrepreneur, teaches them about Ethical entrepreneurship and its importance and necessity for the economy. There is a good introduction about the motivation required by entrepreneurs, the values that they should possess and various attitudes of entrepreneurs. Students should be able to differentiate between an entrepreneur and an employee and learn the importance of entrepreneurship in an enterprise.

You can Download here Information of CBSE Class 11 Commerce Entrepreneurship An Entrepreneur In PDF Format 

Information of CBSE Class 11 Commerce Entrepreneurship An Entrepreneur

CBSE Class 11 Commerce Entrepreneurship An Entrepreneur : An entrepreneur is an innovator or a creator who introduces something new to the firm or economy. It can be a new method of production, a new product, a new source of material, a new market or any other similar innovation. Thus, an entrepreneur is an innovator, creator, borrower, purchaser, etc. Some famous entrepreneurs are Azim Premji, Lakshmi Mittal, and Ekta Kapoor.

Motivation – An Important Factor

The performance of an entrepreneur is dependent on his/her ability and willingness to perform. Here, by ability we mean a function of education, experience and skill and by willingness we mean to perform depending upon the level of motivation. Motivation is one of the fundamental factor required for an entrepreneur to promote his/her ideas.

Why is Motivation Required?

The term motivation has been derived from the word ‘motive’ which is nothing but what prompts any person to act in a particular manner. Motives are the definition of a person’s goals, dreams and needs. They direct human behavior to towards achieving their goal.

When everything is properly organized, then what is the need of motivation?

The following points answer this question and gives an idea why motivation is an important factor for an entrepreneur

  • Tough competition − An entrepreneur needs to face tough competition, in order to sustain and make a mark in this global market. To cope with this competition, motivation is required at each stage of the firm.
  • Unfavorable environment − Nobody knows what the future holds. One has to take care of the current economy and should be prepared for the worst situations of deteriorating economic conditions. For this, motivation and optimism is essential.
  • To create public demand − Market runs by the people and for the people. To run a business profitably, it is required to create a public demand for your product or service in the market and attract as many customers as possible. To do this in the right way, motivation is required.
  • To enhance creativity − Market always wants something new and different. If every firm offers the same product without any variation then there is no point of preferring one brand in particular. To sustain one has to be innovative. Add some new features in the existing products and services, make them more user friendly in a considerable budget. This requires motivation too.
  • To increase productivity − It is very important to take care of the quality of the product as well as the profit. People will always prefer a product which is cost efficient and of good quality. So, motivation is required for increase the productivity.

Thus motivation plays a unique role in establishing a company by frequently boosting the entrepreneur to do effective things efficiently.

Information of CBSE Class 11 Commerce Entrepreneurship An Entrepreneur

CBSE Class 11 Commerce Entrepreneurship An Entrepreneur : This page contains the CBSE entrepreneurship class 11 chapter An Entrepreneur notes. You can find the questions/answers/solutions for the chapter 2 of CBSE class 11 entrepreneurship in this page.

What did you understand by the term ‘corporate entrepreneur’ or ‘Intrapreneur’?

An Intrapreneur or a corporate entrepreneur is a person, who has entrepreneurial competencies and who innovate the products or services for the organization he/she is working for. The intrapreneur or corporate entrepreneur is usually an employee of a large organization who uses the resources and capabilities of the organization, rather than their own, to put their innovative ideas to practice and align their goals to the organizational goals.

Entrepreneurial motivation is the process that motivates an entrepreneur to

  1. always stay in the direction of their goal
  2. bring about the best of their efforts
  3. consistently hanging around their goal

to achieve their entrepreneurial goal.

Define competency.

Competency : Competency refers to a set of well defined behaviours that act as a road-map to

  1. recognize
  2. measure
  3. and develop

all the necessary behaviours required by a person to perform a job or achieve a goal.

In which direction does the value ‘Respect for work’ guide and direct an entrepreneur?

The value ‘Respect for work’ provides the goal direction for an entrepreneur and guides and direct them to pursue a career or path where in the growth and development is highly in proportion to the level of efforts they put in.

What are the features of fabian entrepreneurs.

Fabian entrepreneurs are the entrepreneurs with the following features.

  1. Adopt and follow conventional approaches
  2. Belong to family business
  3. Cautious
  4. Display lazy and shy behaviour
  5. Exhibit resistance to venture or risk(This can be considered as their crucial behaviour)
  6. Firm in their rigid and fundamental approach.
  7. Go for a change only for the fear of failure and loss.(This can also be considered as their crucial behaviour)

Give an example of Industrial entrepreneur.

An industrial entrepreneur is one who establishes an enterprise that manufacture products or provide services which are highly in demand. They exploit the economic resources to economically viable ventures. The enterprise, Maruti Suzuki India Ltd, which is in the business of car manufacturing and offering car related services is an example of such enterprises.

Who are motivated entrepreneurs.

Motivated entrepreneurs are the ones who are

  1. Ambitious to a high degree and are not satisfied by their job
  2. Believe in their abilities
  3. Highly Motivated start an enterprise to economically exploit their technical or professional skills and expertise
  4. They’re further motivated by the success of the venture

As a passionate entrepreneur, what is your suggestion to a fellow entrepreneur to re-kindle their passion.

Entrepreneurs should have passion in their work and love what they’re working upon. This will help them to stay unaffected during tough times. This will also help them to become role model for their employees. It is likely that the passion will decrease during tough times. They should take some time off during these times. During this time they can re-kindle the passion by reminding themselves of all the valid reasons about the motive behind starting the enterprise and the advantage of being their own boss.

Are the attitudes pervasive by nature?

An individual acquires an attitude through the social interaction with different individuals in the society. Different incidents and interactions with others form different attitudes in a person. Thus the attitude is not just developed by a person and many external factors are involved in forming an attitude in a person.
For instance the experience a person had after using a cell phone might form a positive or negative attitude towards the manufacturing company of that phone.
Another example is the experience a person had with the water in a restaurant a restaurant might form a positive or negative attitude about the restaurant itself.
Thus it is clear that the attitude is pervasive by nature.

Give a brief of each of the features of attitude.
The following are the features of the attitude.

  1. Acquired: The attitude is not acquired by birth. During childhood we acquire the attitude mostly from the family members. As we grow, we start acquiring the attitude from the society. We acquire the attitude gradually (not instantaneously). The process of acquiring the attitude remains throughout the life span.
  2. Behaviour: People behave in accordance to their attitude. In the absence of an influence, people with certain attitude behave in an intended way.
    For instance, when you enter a mobile store, you want to purchase a specific model of a certain company in the absence of any external influence. Attractive ads displayed in the store can influence you and change your behaviour(to purchase a different model or a phone of a different company). Even the sales man/girl might influence you to purchase a different model or brand. But in the absence of these external intervention to change your behaviour, you behave as per your attitude.
  3. Concealed or Invisible : Attitude is purely psychological and is not externally visible. However, depending on the behaviour a person exhibits towards a commodity or person or country, we can guess the attitude of a person. For instance, depending upon the interest shown by a student on a specific subject, we can infer that the student has a positive attitude towards that subject or faculty.
  4. Pervasive: An individual acquires an attitude through the social interaction with different individuals in the society. Different incidents and interactions with others form different attitudes in a person. Thus the attitude is not just developed by a person and many external factors are involved in forming an attitude in a person.
    For instance the experience a person had after using a cell phone might form a positive or negative attitude towards the manufacturing company of that phone.
    Another example is the experience a person had with the water in a restaurant a restaurant might form a positive or negative attitude about the restaurant itself.
    Thus it is clear that the attitude is pervasive by nature.

Information of CBSE Class 11 Commerce Entrepreneurship An Entrepreneur

CAKART provides India’s top class XI commerce  faculty video classes – online Classes – at very cost effective rates. Get class XI commerce Video classes from CAKART.in to do a great preparation for your exam.

Watch class XI commerce sample video lectures Visit cakart.in
Watch class XI commerce Sample Books Visit cakart.in
Watch class XI commerce free downloads Visit cakart.in

Thank you and have nice day.

Leave a comment

Your email address will not be published. Required fields are marked *