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Risk-Taking Ability Innovation Leadership Skills Visionary Thinking

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11 views1 page

Risk-Taking Ability Innovation Leadership Skills Visionary Thinking

Uploaded by

yiwav67616
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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i.

Define Entrepreneurship:
Entrepreneurship is the process of identifying, developing, and bringing a business idea to life by taking
financial risks to make a profit. It involves creating and managing a new business venture to meet market
needs.

ii. Need & Importance of Entrepreneurship:

Generates employment opportunities.

Promotes innovation and creativity.

Contributes to economic development.

Helps in the better use of resources.

Improves the standard of living.

Encourages self-reliance and reduces dependency on government jobs.

iii. Traits of Successful Intrapreneur/Entrepreneur (Any Four):

Risk-taking Ability: Entrepreneurs are willing to take calculated risks to achieve business success.

Innovation: They bring new ideas, products, or methods to the market.

Leadership Skills: Good entrepreneurs lead and inspire teams toward achieving goals.

Visionary Thinking: They have a clear vision for the future of their business and work consistently
to achieve it.

iv. Types of Enterprises and Their Features (Any Two):

Micro Enterprise:

Investment in plant and machinery does not exceed a small limit (like 1 crore INR as per
Indian standards).

Generally run by a small number of people.

Examples include small shops, handicrafts, local service providers.

Small Enterprise:

Investment is higher than micro but lower than medium enterprises.

Employs a moderate number of workers.

Focuses on manufacturing, services, or trading on a small scale.

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