Teachers and Examiners collaborated to create the Entrepreneurship Skills Class 12. The team has gathered all of the important Questions and Answers from Employability Skills Textbook. All of the QA have been organized topic wise.
Entrepreneurship Skills Class 12 Question Answers
Session 1: Entrepreneurship and Entrepreneur
1. What training needs entrepreneurship to develop business.
Answer – Training in entrepreneurship development needs to include –
a. Entrepreneurship Orientation and awareness
b. Development of competencies
c. Improvement of business performance for growth and competitiveness
2. What do you mean by entrepreneur?
Answer – The word “entrepreneur” is derived from the French word “entreprendre,” which means ‘to undertake’.
3. What are the different characteristics of entrepreneurship?
Answer – Some of the characteristics of entrepreneurship are –
a. It is an economic activity done to create, develop and maintain a profit-oriented organization.
b. It all starts with recognizing an opportunity as a way to sell and profit in the market.
c. It deals with optimization in utilization of resources.
d. It is the ability of an enterprise and an entrepreneur to take risks.
4. What is the quality of a successful entrepreneur?
Answer – There are many qualities needed to successfully run an enterprise.
a. Initiative – An entrepreneur must be able to take initiative and take advantage of an opportunity.
b. Willingness to take risks – There is a certain amount of risk in any firm. It is not necessary that every business shall earn a profit. The entrepreneur takes up risks and starts a business.
c. Ability to learn from experience – It is possible for an entrepreneur to make mistakes. Once an error is committed, it must be ensured that it is not repeated in future otherwise it may lead to heavy losses.
d. Motivation – When you’re inspired to do anything, you won’t stop until you’ve finished it.
e. Self-confidence – A person must have faith in himself or herself in order to succeed in life.
f. Hard work – In life, there is no replacement for hard work. Every day, while running a business, one or more problems may develop. The entrepreneur must be vigilant in order to recognize and resolve difficulties as soon as possible.
g. Decision making ability – An entrepreneur must make a number of decisions when running a business. As a result, the individual must be capable of making appropriate and timely decisions.
Entrepreneurship Skills Class 12
5. What are the different types of entrepreneurs?
Answer – There are many types of entrepreneurs, which include the following.
a. Service entrepreneurs – These entrepreneurs either develop a new market for their services or serve an existing one. They recognize an opportunity and turn it into a service.
b. Business entrepreneurs – These are entrepreneurs who engage in commercial and marketing operations but do not engage in production. A business entrepreneur identifies a product’s market potential.
c. Industrial entrepreneurs – An industrial entrepreneur is simply a manufacturer that recognises client needs and develops products or services to meet those demands.
d. Agricultural entrepreneurs – Agriculture has always been thought of as a low-returning business. Agriculturists have now implemented new and innovative technology in order to increase productivity.
e. Technical entrepreneurs – The Industrial Revolution gave birth to technical entrepreneurs, and they use their technical expertise to build and sell machinery, tools, and procedures.
f. Non – technical entrepreneurs – These entrepreneurs use their expertise in providing services to create a market for technical entrepreneurs.
g. Professional entrepreneurs – Such an entrepreneur starts a business, nurtures it and makes it reach a point of self-sustenance.
h. IT entrepreneurs – IT entrepreneurs are people who start businesses in the field of information technology (IT).
i. Women entrepreneurs – Women entrepreneurs, as the term suggests, are women who start their own business.
j. Social Entrepreneurs – Social entrepreneurs are those that focus on generating solutions that benefit society.
k. Family business entrepreneurs – When a family or a person successfully operates a firm and passes it on to the next generation, such entrepreneur is referred to as a family business entrepreneur.
l. First generation entrepreneurs – First-generation entrepreneurs are those who have never worked in the business world before. They can be of various ages and come from various backgrounds.
6. What is the role of an entrepreneur?
Answer – Some of the major role of entrepreneur are –
a. Identifying entrepreneurial opportunity – Entrepreneur must have imagination, creativity, and innovation.
b. Turning ideas into action – Entrepreneurs must be able to bring their ideas to life. To meet market demand, they should be able to gather information on ideas, products, and methods.
c. Feasibility study – Entrepreneurs conduct studies to assess the market feasibility of a proposed product or service.
d. Resourcing – To establish a successful business, an entrepreneur requires a variety of resources such as money, machinery, raw materials, and labor.
e. Setting up an enterprise – Some legal requirements may be required of the entrepreneur. In addition, the person must try to find a good place, design the premises, install machinery, and do a variety of other tasks.
f. Managing the enterprise – The person is responsible for managing the labor, materials, finances, and the organization of goods and services production.
7. What motivates an entrepreneur?
Answer – Some of the qualities that motivate an entrepreneur
a. Standard of excellence – An entrepreneur always sets high goals for himself and works to meet them by working hard and being creative.
b. Uniqueness – one of the most important qualities is to remain unique in everything the person does and the way it is done.
c. Focus on long-term goals – An entrepreneur is more concerned with what will be accomplished in the distant future than with what will be accomplished in the near future.
d. Need to influence – The entrepreneur perceives one’s ideas as revolutionary and expects them to influence the world in a substantial way.
e. Identifying opportunities and risk taking – Finding the perfect business opportunity for you is a major concern for young entrepreneurs.
Entrepreneurship Skills Class 12
Session 2: Barriers to Entrepreneurship
8. What are environmental barriers?
Answer – One of the biggest barriers that entrepreneurs face is environmental factors.
a. Lack of adequate resources or raw material
b. Non‑availability of skilled labor
c. Lack of requisite machinery and other infrastructure
d. Unavailability of monetary resources on time
9. What are personal barriers?
Answer – Any new enterprise is risky because people are always afraid of what could go wrong, and these worries create personal boundaries.
Some of the personal barriers are –
a. Self doubt
b. Forming a team and teamwork
Session 3: Entrepreneurial Attitudes
10. Which attitudes make a person successful entrepreneur?
Answer – The attitudes that make a successful entrepreneur are –
a. Decisiveness – Ability to make quick and profitable decisions
b. Taking Initiative – Ability to take charge and act in a situation before others
c. Organizational Skills – Ability to make the optimum use of time, energy and resources to achieve the desired goals.
d. Interpersonal Skills – Ability to work with others
e. Perseverance – Ability to continue to do something, even when it is difficult.
Entrepreneurship Skills Class 12
Session 4: Entrepreneurial Competencies
11. What is decisiveness?
Answer – Decisiveness is defined as the ability to make quick and profitable decisions.
The following steps can help you develop your decisiveness.
a. Knowing yourself – You must first choose what is important to you and the type of problem you want to solve.
b. Identify opportunities – It is important to identify the best way and location for a business to operate.
c. Analyze the opportunity – What do customers think of the idea and what is the competition for that idea.
d. Problem solving – You might make changes to your idea after researching the clients and the market.
12. What do you mean by interpersonal skills?
Answer – Interpersonal means dealing with relationships. It is between two or more persons.
Some of the ways to develop interpersonal skills are –
a. Listening – It is important to listen when someone talks.
b. Body Language – When working with people or listening, our facial expressions, gestures, and postures are important.
c. Positive attitude – People with a positive attitude are hopeful and see the best even in difficult situations.
d. Stress management – When various personalities work together in a team, it can lead to tension for everyone. In such situations, stress management becomes important for everyone’s health and well-being.
13. What is perseverance?
Answer – Perseverance is the capacity to keep going even when things are challenging.
Perseverance can be developed in a variety of ways.
a. Not giving up when there is a difficult situation
b. Working hard to achieve the goal
c. Analyzing failures and learning from them
Entrepreneurship Skills Class 12
14. Why organizational skills are important?
Answer – The capacity to make the best use of one’s time, energy, and resources in order to achieve one’s objectives is referred to as organizational skills.
Organizational Skills include the following –
a. Time management – Time management is the process of planning and following a conscious control of time spent on specific activities.
b. Goal Setting – A goal is somewhere we want to reach. It is the aim or result that we want from an activity. Goal makes us work harder, motivates us to complete what we start and achieve the target.
c. Efficiency – Efficiency is the ability to do things well, successfully, without wasting time.
d. Managing quality – Managing quality in a business means setting and maintaining a standard of excellence for products or services being provided to customers.
Employability Skills Class 12 MCQ
Communication Skills Class 12 MCQ
Self Management Skills Class 12 MCQ
Employability Skills Class 12 Questions and Answers
Self Management Skills Class 12
Entrepreneurship Skills Class 12
Reference Textbook
The above Entrepreneurship Skills Class 12 was created using the NCERT Book and Study Material accessible on the CBSE ACADEMIC as a reference.
CBSE | Department of Skill Education. (n.d.). Retrieved March 25, 2022, from https://cbseacademic.nic.in/web_material/Curriculum21/SrSec/EMPLOYABILITY_SKILLS_XII.pdf
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Disclaimer – 100% of the questions are taken from the CBSE textbook Entrepreneurship Skills Class 12, and our team has tried to collect all the correct QA from the textbook . If you found any suggestion or any error please contact us anuraganand2017@gmail.com.
Employability Skills Class 12 Notes
Unit 1 : Communication Skills – IV
Unit 2 : Self-Management Skills – IV
Unit 3 : Information and Communication Technology Skills – IV
Unit 4 : Entrepreneurial Skills – IV
Unit 5 : Green Skills – IV
Employability Skills Class 12 MCQ
Unit 1 : Communication Skills – IV
Unit 2 : Self-Management Skills – IV
Unit 3 : Information and Communication Technology Skills – IV
Unit 4 : Entrepreneurial Skills – IV
Unit 5 : Green Skills – IV
Employability Skills Class 12 Questions and Answers
Unit 1 : Communication Skills – IV
Unit 2 : Self-Management Skills – IV
Unit 3 : Information and Communication Technology Skills – IV
Unit 4 : Entrepreneurial Skills – IV
Unit 5 : Green Skills – IV