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CBSE class 11 commerce entrepreneurship Important topics for theory

CBSE class 11 commerce entrepreneurship Important topics for theory:- we will provide complete details of CBSE class 11 commerce entrepreneurship Important topics for theory in this article.

CBSE class 11 commerce entrepreneurship Important topics for theory

An entrepreneur is a person who starts an enterprise. The process of creation is called entrepreneurship. The entrepreneur is the actor and

CBSE class 11 commerce entrepreneurship Important topics for theory

entrepreneurship is the act. The outcome of
the actor and the act, is called the enterprise. An enterprise is the business organization that is formed and which provides goods and services, creates jobs, contributes to national income, exports and contributes to the overall economic development.

The term „entrepreneur‟ is often used interchangeably with „entrepreneurship‟‟ but, conceptually, they are different, yet they are just like the two sides of a coin. Both the terms are co-related.

An entrepreneur is a person who bears the risks, unites various factors of production and carries out creative innovations. He/she is an individual or one of a group of individuals who try to create something new. He/she always attempting to bring about change in terms of factor proportions, which is known as innovation.

On the contrary, entrepreneurship is the set of activities performed by an entrepreneur. It is process of identifying opportunities in the market place and marshalling the resources required to pursue these opportunities for long term gains. It is the attempt to create value.

CBSE class 11 commerce entrepreneurship Important topics for theory

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The main need for entrepreneurship State in any country is for Economic Development. In capitalist and developed countries, private entrepreneurs play an important role in economic development. In socialist countries, the state (Government) is the entrepreneur. In under-developed countries, private entrepreneurship is not encouraged because of the degree of risk involved. The
government has to play a vital role in economic development. But in a developing country like India which follows a mixed economy, the role of both the government and the private entrepreneurs is equally important. The role of the private entrepreneurs has further increased because of the liberal economic policies followed by the Indian government since 1991.

Economic growth depends on the rate of innovation in the economic field, which in turn, depends on the number and quality of entrepreneurs in the society. Thus, entrepreneur is an agent of progress in the society. The reason for slow progress of our Indian economy during the first four decades of independence is that, the Indian entrepreneur has been shy. But as our economy has been progressing, we have seen an upsurge in the number of entrepreneurs emerging in all fields, but more needs to be done for increased economic growth in our country.

CBSE class 11 commerce entrepreneurship Important topics for theory

Rationale

Development of school curriculum is a dynamic process responsive to the society and reflecting the needs and aspiration of its learners. Fast changing society deserves changes in educational curriculum particularly to establish relevance to emerging socio-economic environment; to ensure equity of opportunity and participation and finally promoting concern for excellence. In this context the course on entrepreneurship aims at instilling and stimulating human urge for excellence by realizing individual potential for generating and putting to use the inputs, relevant to social prosperity and thereby ensure decent means of living for every individual.

CBSE class 11 commerce entrepreneurship Important topics for theory

Development of school curriculum is a dynamic process responsive to the society and reflecting the needs and aspiration of its learners. Fast changing society deserves changes in educational curriculum particularly to establish relevance to emerging socio-economic environment; to ensure equity of opportunity and participation and finally promoting concern for excellence. In this context the course on enterpreneurship aims at instilling and stimulating human urge for excellence by realizing individual potential for generating and putting to use the inputs, relevant to social prosperity and thereby ensure decent means of living for every individual

Objectives:

  • Acquiring Entrepreneurial spirit and resourcefulness
  • Familiarization with various uses of human resource for earning dignified means of living
  • Understanding the concept and process of entrepreneurship – its contribution in and role in the growth and development of individual and the nation
  • Acquiring entrepreneurial quality, competency and motivation
  • Learning the process and skills of creation and management of entrepreneurial venture

CBSE class 11 commerce entrepreneurship Important topics for theory

S.No.  Unit Marks 
1 Entrepreneurship, What, Why and How 15
2 An Entrepreneur
3 Entreprenerial Journey 20
4 Entrepreneurship as Innovation and Problem Solving
5 Understanding the Market 15
6 Business Arithmetic 20
7 Resource Mobilization
Project Work 30
Total 100

Unit 1: Entrepreneurship: What, Why and How

  • Entrepreneurship- Concept, Functions, Need and Importance.
  • Myths about Entrepreneurship
  • Pros and Cons of Entrepreneurship
  • Process of Entrepreneurship.

Unit 2: An Entrepreneur

  • Types of Entrepreneurs
  • Competencies and Characteristics; Ethical Entrepreneurship.
  • Entrepreneurial Value: Values, Attitudes and Motivation.
  • Mindset of an Employee and an Entrepreneur- Difference
  • Intrapreneur: Importance in Any Organization.

Unit 3: Entrepreneurship Journey

  • Self Assessment of Qualities, Skills, Resources and Dreams.
  • Generation of Ideas.
  • Feasibility Study
  • Opportunity Assessment
  • Business Plan Preparation
  • Execution of Business Plan
  • Role of Society and Family in the growth of an entrepreneur.
  • Challenges faced by women in Entrepreneurship.

Unit 4: Entrepreneurship as Innovation and Problem Solving

  • Entrepreneurs- as problem solvers.
  • Innovations and Entrepreneurial Ventures.
  • Social Entrepreneurship-Concept and Importance
  • Risk taking-Concept; types of business risks.
  • The role of technology/ social media in creating new forms of firms, organizations, networks and cooperative clusters.
  • Barriers to Entrepreneurship.
  • Support structure for promoting entrepreneurship (various government schemes).

Unit 5: Understanding the Market

  • Market- Traditional and E-commerce- Concept and Role
  • Types of Business: Manufacturing, Trading and Services.
  • Market Forces: Sellers, consumers and competitors.
  • Expanding Markets: Local to global, Strategies needed.
  • Marketing Mix: Concept and Elements.
  • Pricing and Factors affecting pricing.
  • Market Survey: Concept, Importance and Process.

Unit 6: Business Arithmetic

  • Simplified Cash Register and Record Keeping
  • Unit of Sale, Unit Price and Unit Cost – for single product or service
  • Types of Costs – Start up, Variable and Fixed
  • Income Statement
  • Cashflow Projections
  • Break Even Analysis – for single product or service
  • Taxes

Unit 7: Resource Mobilization

  • Types of Resources – Human, Capital and other Resources
  • Selection and utilization of human resources and professionals like Accountants, Lawyers, Auditors, Board Members, etc.
  • Role and Importance of a Mentor
  • Estimating Financial Resources required.
  • Methods of meeting the financial requirements.
  • Size and capital based classification of business enterprises.
  • Various sources of Information

CBSE class 11 commerce entrepreneurship Important topics for theory

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CBSE class 11 commerce entrepreneurship Important topics for theory

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