KARNATAKA class 12 commerce entrepreneurship fast track revision notes

KARNATAKA class 12 commerce entrepreneurship fast track revision notes:- we will provide complete details of KARNATAKA class 12 commerce entrepreneurship fast track revision notes in this article.

KARNATAKA class 12 commerce entrepreneurship fast track revision notes

1. Entrepreneurial Opportunity: This chapter is focused on giving the student an insight into the basics of the business opportunities. After
   KARNATAKA class 12 commerce entrepreneurship fast track revision notes

   completing this chapter the students will be able to understand the various elements required for sensing the business opportunities. There is an introduction to how the environment is scanned for business opportunity and what are the various factors primarily controlling the business environment. They come across the idea fields and understand various aspects associated with the idea fields and learn about the various opportunities regarding tapping the ideas and convert them to viable business opportunities. They study the trend spotting. The creative and innovative processes are explained in detail in this chapter.

2. Enterprise Planning: This chapter focuses on teaching the students about the various economic activities, various forms of business organization. They will be able to get insight into the intricacies of the business plan, organization plan, production plan, human resources plan, operational plan, financial plan and marketing plan. They will also learn about the various processes required to start a business
3. Enterprise Marketing: In this chapter, the students will be able to learn about the goal-setting with emphasis on SMART goals. The prime focus will be to teach the students about the different marketing strategies followed in an organization especially the 4Ps of marketing. Students study about the various selling techniques followed by a firm. They get introduced to the brand, logo and tagline. They learn the various forms of negotiation, learn about the critical requirement of a customer. This chapter also focuses on the critical of the employees management and vendor management. They learn about the significant role the quality plays to bring about customer satisfaction. This chapter concludes with the various factors that makes a business fail.
4. Enterprise Growth Strategies: Every organization will be striving for growth. One way to achieve growth is through franchising. This chapter focuses on various types of franchising in a business. How a business can grow through mergers and acquisitions. Students learn about the different kinds of mergers, get an understanding of the acquisitions, the various factors that lead to the mergers and acquisitions. It also introduces the students to various reasons why the mergers and acquisitions fail. It also explains about the value addition, ensures that the learners learn about the value chain with a focus on how to manage the value chain.
5. Business Arithmetic: In this chapter students learn about the unit price, learn how to compute the Break even point for multiple products, learn about the inventory control, Economic Order Quantity, the basics of cash flow projection, necessity of a working capital. They also get introduced to the financial management and budgeting, learn how to arrive at ROI (Return on Investment), learn about the Return on Equity.
6. Resource Mobilization: In this chapter, students learn about the significance of various funds needed by an enterprise, how to raise funds. They also learn about the method of flotation for new issues arising. A basic introduction is provided regarding how to use stock exchange to procure the funds, learn the role played by SEBI in the process. An introduction is given to the concept of the angel investors and venture capital. They also understand the role by IDBI, IFCI, IIBI, NABARD, SIDBI, SIDC, SFC, TFCI

KARNATAKA class 12 commerce entrepreneurship fast track revision notes:-1. Who is an entrepreneur?

Basically an entrepreneur is an innovator, job and wealth generator.

In addition to the above he is also

1. Change agent
2. Problem solver
3. Pace setter
4. Excellence seeker
5. Marketing executive
6. Concept promoter

KARNATAKA class 12 commerce entrepreneurship fast track revision notes:-2. Why is an entrepreneur called a change agent?

Whenever and wherever problems occur, the individual seeks to eliminate the problems so that the would could be a better place to live in, a life worth living. In order to make it happen, one has to think of such processes that would yield products and services that would enable and bring happiness, joy, comfort and peace. Therefore he seeks such ventures that would bring about this change. He loos for opportunities for converting the challenges into comforts. So, and entrepreneur is called as change agent

KARNATAKA class 12 commerce entrepreneurship fast track revision notes:-3. What are the important features of entrepreneurship?

Entrepreneurship is basically an activity that helps in sensing the opportunities, resourcing “innovation” and realizing the “pay-off” through the actions performed by him or her.

During this process the individual scans an environment for opportunities, identifies them, examines the feasibility of converting (or changing) that opportunity into a possible enterprise for production, drafts plan of action and then engages oneself in such activities that would cause the product.

Thus they change the opportunities into an product or services.

KARNATAKA class 12 commerce entrepreneurship fast track revision notes:-4. An enterprise is a process of converting a challenge into an opportunity – Do you agree? Justify your answer.

Yes, I agree.

Entrepreneurship is basically an activity that helps in sensing the opportunities or identifying the challenges, resourcing “innovation” and realizing the “pay-off” through the actions performed by him or her.

During this process the individual scans an environment for opportunities, identifies them, examines the feasibility of converting (or changing) that opportunity into a possible enterprise for production, drafts plan of action and then engages oneself in such activities that would cause the product.

The enterprise thus formed converts the challenge into an opportunity.

KARNATAKA class 12 commerce entrepreneurship fast track revision notes:-5. How does Entrepreneurship help in building up the professional profile of an individual?

The spirit of Entrepreneurship helps the individuals to grow. It brings out the multifaceted talent in him.

Entrepreneur has to face many challenges in setting up and running of the enterprise. To be successful Entrepreneur has to plan, communicate, manage various aspects of the market. In doing so, he becomes a complete professional.

KARNATAKA class 12 commerce entrepreneurship fast track revision notes:-6. How can we say that an entrepreneur contributes to social development?

Entrepreneurs contribute to social development through the following activities.

1. For Individual
   1. They provide new employment opportunities
   2. They improve the standard of living of the people.
2. For Investors
   1. They provide investment opportunities for the investors and generate the wealth and distribute it to the investors. Thus helping the investors to grow their wealth.
3. For the nation
   1. They contribute to the GDP of the nation directly.
   2. They contribute to the area development by re-investing in projects.
   3. They will be responsible for industrial and technical developments.

KARNATAKA class 12 commerce entrepreneurship fast track revision notes:-7. Why has an entrepreneur to be a pacesetter?

Entrepreneurship is basically an activity that helps in sensing the opportunities or identifying the challenges, resourcing “innovation” and realizing the “pay-off” through the actions performed by him or her.

During this process the entrepreneur scans an environment for opportunities, identifies them, examines the feasibility of converting (or changing) that opportunity into a possible enterprise for production, drafts plan of action and then engages oneself in such activities that would cause the product.

Thus the entrepreneur is the first person to convert a challenge into an opportunity and paves way for the others to follow, either by copying or imitating his innovative idea. Thus becoming the pace setter.

KARNATAKA class 12 commerce entrepreneurship fast track revision notes:-8. How does the entrepreneur contribute to the growth of the Gross National Product? OR How does entrepreneurs contribute to national development?

Entrepreneurs make the society sensitive to the productivity.

The increase in the productivity, cost effectiveness and pursuit of excellence increases the Gross National Product.

KARNATAKA class 12 commerce entrepreneurship fast track revision notes:-9. “An Entrepreneur converts the demand into supply”. Comment.

1. Entrepreneur identifies demand of a product in the changing needs or traditions or customs or lifestyles of people in the society.
2. He meets the demand by producing goods or services.
3. This results in more Entrepreneurs entering into the market and producting similar products or services to meet the same need. Hence there will be many options for a consumer in the market.
4. This results in demand getting converted to supply.

CBSE class 12 commerce entrepreneurship fast track revision notes:-10. Identify at least two entrepreneurs who have influenced the society with tehir ideas – Explain how it has been possible for them.

Dhirajlal Hirachand Ambani : He was working with Arab merchanges as a normal worker. He left his job and moved to Mumbai(in 1958) to start his own business spices. He later started the textile business and opened his own mill. He started Reliance Industries which was contributing to around 5% of the central government’s tax revenue.

Phanindra Sama : When he was unable to get a bus ticket when he wanted to travel from Bangalore to his home town, during a festive season, he sensed the problem of ticket information not reaching the passengers. Later on he learned that though the tickets were available, due to the lack of availability of information, with the agents, many passengers are not getting the tickets. He converted this challenge into an opportunity and started his website redbus.in, the setting the pace for selling the bus tickets online. He was recently select as high impact entrepreneur.

KARNATAKA class 12 commerce entrepreneurship fast track revision notes

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KARNATAKA class 12 commerce entrepreneurship fast track revision notes

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