Teachers and Examiners collaborated to create the Entrepreneurial Skills Class 10 Notes. All the important Information are taken from the NCERT Textbook Employability Skills Class X Based on CBSE Board Pattern.
Entrepreneurial Skills Class 10 Notes
Entrepreneurship is the type of self-employment where one is running a business to satisfy the needs of people and looking for ways to make the business better to make profits.
Qualities of Entrepreneur –
- They are confident. They believe in themselves and their abilities.
- They keep trying new ideas in their business.
- They are patient.
- They are creative and think differently about business ideas.
- They take responsibility for their actions.
- They take decisions after thinking about them.
- They work hard.
- They do not give up when they face a difficulty.
Session 1: Entrepreneurship and Society
Who is Entrepreneur?
An entrepreneur is someone who starts and runs a business to make a profit. They are known for taking risks, thinking creatively, and creating opportunities. Entrepreneurs contribute to economic growth by creating new products, services, and jobs.
What do entrepreneurs do when they run their business –
- Fulfil Customer Needs: Entrepreneurs find out what people want and then create businesses to fulfill those needs.
- Use Local Resources: Entrepreneurs make products using materials and people around them to keep costs low.
- Help Society: Entrepreneurs contribute positively to society, Some entrepreneurs work towards saving the environment, some give money to build schools and hospitals. This way, the people and area around them becomes better.
- Create Jobs: Entrepreneurs make jobs by growing their businesses and doing well and helping to create employment opportunities in the community.
- Lower Price of Products: Increased competition among entrepreneurs can lead to lower prices for products, benefiting consumers.
- Spread Wealth: Successful entrepreneurs share their prosperity, improving the financial well-being of the community.
The role of entrepreneurs in society –
- Create Demand: Creates a market need for products or services.
- Supplies Resources: Provides raw materials for various industries.
- Offers Financial support: Enables funding and financial support.
- Promotes Education: Drives the demand for education and skill development.
- Influences Policies: Catalyzes the formation and reform of policies.
- Support Infrastructure: Supports the development of essential facilities.
Entrepreneurs has some positive impact on society such as –
- Boosts Economy: Drives economic growth by creating wealth.
- Inspires Creativity: Give new ideas and imaginative thinking.
- Promotes Innovation: Encourages new and efficient solutions.
- Generates Jobs: Creates employment opportunities.
- Solves Problems: Addresses societal challenges.
- Supports Welfare: Contributes to the well-being of society.
Session 2: Qualities and Functions of an Entrepreneur
Qualities of an Entrepreneur
- Hard working: Success for entrepreneurs relies on hard work. On average, they dedicate 60 to 90 hours per week to their endeavors.
- Always Positive: Entrepreneurs go a long way in their journey with a positive mindset and unwavering belief in their endeavors.
- Like Independence: Entrepreneurs are confident and running their businesses independently.
- Full of Energy: Successful entrepreneurs are always full of energy, making them highly proactive in their approach to business.
- Self-confident: Entrepreneurs are bold decision-makers, unafraid to make choices with confidence.
Functions of an Entrepreneur –
- Making decisions – An entrepreneur makes decisions everyday.
- Managing the business – An entrepreneur plans the future of his or her business.
- Divide income – The entrepreneur divides the business money to many groups.
- Taking risk – Entrepreneurs understand that taking chances comes with a possibility of things not going as planned.
- Create a new method, idea or product – An entrepreneur is always trying new things.
Session 3: Myths about Entrepreneurship
Myths about Entrepreneurship
- The misconception is that every business idea needs to be unique or special.
- The misconception we have is that a person needs a lot of money to start a business.
- A misconception we have is that only a person having a big business is an entrepreneur.
- A misconception we have is that entrepreneurs are born, not made.
- An entrepreneurs focus only on making money.
- An entrepreneurs work less than traditional employees.
Session 4: Entrepreneurship as a Career Option
A career is the type of job someone does throughout their life. People earn a living through two main ways.
- Self-employment – Working for yourself, running your own business, example A graphic designer starting their own freelance design business.
- Wage employment – Working for someone else, earning a salary or hourly wage, example An office worker employed by a company, receiving a monthly salary.
A person who becomes an entrepreneur goes through a career process. This process is as follows –
1) ENTER – When an entrepreneur is starting, they are just entering the market to do business.
For example, Sanjana is starting a small grocery store in a locality.
2) SURVIVE – There are many entrepreneurs in the market. The entrepreneur has to remain in a competitive market.
For example, there are many other grocery stores in the area. Yet, Sanjana’s store survives the competition and does well. She also expands the store to two more floors.
3) GROW – Once the business is stable, an entrepreneur thinks about expanding his or her business.
For example, after five years, Sanjana has opened a chain of four more grocery stores in the same city. In the next two years, she plans to expand to tow other cities.
Entrepreneurial Skills Class 10 Notes FAQs
Q. What is entrepreneurial skills class 10?
Abilities like creativity, risk-taking, and leadership needed for starting and managing a successful business.
Q. What is meant by entrepreneur Class 10?
A person who starts and runs a business to make a profit, known for innovation and risk-taking.
Q. What is entrepreneur class 10 computer?
In computer class, learning how entrepreneurs use technology for business, including digital marketing and online platforms.
Q. What are the stages of entrepreneurship class 10?
Idea Generation, Feasibility Analysis, Business Planning, Start-up, Operation and Growth, Maturity or Exit.
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Q. Entrepreneurial skills class 10 notes questions and answers pdf
Entrepreneurial skills class 10 notes pdf you can download from the cbseskilleducation.com website, the topic related to self management skills as per the CBSE syllabus it given point wise and easy to understand.
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Yes you can read notes, questions and answers from the given link, All questions are important.
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