An Entrepreneur Class 11 Notes Entrepreneurship Chapter 2 - CBSE
Chapter : 2
What Are An Entrepreneur ?
Entrepreneur
An entrepreneur is a person responsible for setting up a business. He has the initiative, skill for innovation and who looks for higher achievements. He is a catalystic agent of change and works for the good of people.
Types Of Entrepreneurs
According To C. Danhof
- Innovative Entrepreneur
- Imitative Entrepreneur
- Fabian Entrepreneur
- Drone Entrepreneur
On The Basis Of Type Of Business
- Business Entrepreneur
- Trading Entrepreneur
- Industrial Entrepreneur
- Corporate Entrepreneur
- Agricultural Entrepreneur
On The Basis Of Use Of Technology
- Technical Entrepreneur
- Non-Technical Entrepreneur
Professional Entrepreneurs
- They have profession to establish a business entreprises to sell it.
- Look forward to develop alternative project by selling a running business.
- Not interested to manage business of established enterprises.
On The Basis Of Motivation
- Spontaneous Entrepreneur
- Induced Entrepreneur
- Motivated Entrepreneur
On the basis of Generation
- First Generation Entrepreneurs
- Second Generation Entrepreneur or Inherited Entrepreneurs
- Third Generation Entrepreneurs
Entrepreneurial Competencies
Competency is a set of defined behaviours that provide a structured guide enabling the identification, evaluation and development of behaviours in individual.
- Entrepreneurial
- Enterprise Launching
- Enterprise Managing
Entrepreneurial Values
These are the beliefs that guide actions and a judgement across a variety of situations.
Core Values
- Innovation and Creativity
- Independence or self-reliance
- Respect for work
- Quest for outstanding performance or achievement orientation
Attitude
It is something we individually feel about some person, work, place etc.
Essential Attitudes Of An Entrepreneur
- Have Passion for the business
- Set example of trustworthiness
- Be flexible except with core values
- Don’t let fear of failure hold one back
- Make timely decisions
- The major company asset is oneself
- Keep one’s ego under control
- Believe in oneself
- Maintain a strong work ethic
- Rebound quickly from setbacks
- Periodically getting out of one’s comfort zone to pursue something important
- Encourage and accept criticism graciously
Motivation
Entrepreneurial motivation may be defined as the process that activates the entrepreneurs to exert a high level of efforts for achievement of his or her goals.
Process of Motivation
- Unsatisfied needs
- Tension
- Drives
- Search Behaviour
- Satisfaction of Need
- Reduction of Tension
Theories Of Motivation
Abraham Maslow
- Self actualisation
- Esteem needs
- Social needs
- Safety needs
- Physiological needs
David Mcclelland
- Need for achievement
- Need for affiliation
- Need for Power
Intrapreneur
He is some one who has an entrepreneurial streak but choose to align his or her talents with a large organisation in place of creating his or her own.
Entrepreneurship Most Likely CBSE Question Bank
Class 11 Exam 2025
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Binding: Paperback
Language: English
Pages: 248