Class 12 Business Studies Entrepreneurship Development – Get here the Notes for Class 12 Business Studies Entrepreneurship Development. Candidates who are ambitious to qualify the Class 12 with good score can check this article for Notes. This is possible only when you have the best CBSE Class 12 Business Studies study material and a smart preparation plan. To assist you with that, we are here with notes. Hope these notes will helps you understand the important topics and remember the key points for exam point of view. Below we provided the Notes of Class 12 Business Studies for topic Entrepreneurship Development.
- Class: 12th
- Subject: Business Studies
- Topic: Entrepreneurship Development
- Resource: Notes
CBSE Notes Class 12 Business Studies Entrepreneurship Development
Candidates who are pursuing in Class 12 are advised to revise the notes from this post. With the help of Notes, candidates can plan their Strategy for particular weaker section of the subject and study hard. So, go ahead and check the Important Notes for Class 12 Business Studies Entrepreneurship Development.
Points to Remember
1. Introduction Entrepreneurship is process of setting up one’s own business. The person who sets up business is called on entrepreneurship.
2. Meaning Entrepreneurship is a systematic purpose full and creative activity of identifying a need, mobilising resources and organising production with a view to delivering value to the customers.
According to Peter Drucker, “Entrepreneur-one who is involved in gathering and using resources to opportunities to produce result.”
3. Characteristics of Entrepreneurship
- Systematic activity
- Lawfull and purposefull activity
- Creative activity
- Organisation of production
- Risk taking
4. Relationship between Entrepreneurship and Management
- Entrepreneurship is concerned with starting of a new business venture, management assures efficiency and success of business starts by entrepreneur.
- In developing countries, entrepreneurs remain attached to day-to-day activities also and managers also remain in touch with strategic divisions of entrepreneurs.
5. Functions of Entrepreneurs in Relation to Economic Development
- Contribution to gross domestic product
- Capital formation
- Employment generation
- Generation of business opportunities for others
- Improves economic efficiency
- Increasing the scope of economic activities
- Growth of local communities
- Boosting the spirit of exploration, experimentation and daring
6. Process of Setting Up a New Enterprise The steps involved in setting up of a business are
- Scanning the environment
- Development of product/service
- Feasibility analysis
- Appraisal by funding agencies (financial institution)
- Resource mobilisation
- Project commissioning and councling (establishing of an enterprise)
- Adoption and management of growth
7. The Process of Entrepreneurship Development
- Individual Personality of Entrepreneur It means competence, motivation, values and attitude of the entrepreneur.
- Environment Factors It refers to economic Frame work. industrial and trade policy, institutional framework of our country.
8. Role of Environment in Entrepreneurship Development
Environment conditions have Entrepreneurship Development. Inflation good infrastructures entrepreneurship development.
9. The Role of Individuals in Entrepreneurship Development
- Entrepreneurial competencies
- Entrepreneurial motivation
- Entrepreneurial values and attitudes
10. Entrepreneurial Competencies
- Initiative
- Recognising and grabbing the opportunities
- Persistence
- Collecting information
- High quality work
- Commitment
- Efficiency
- Planning
- Problem solving
- Self confidence
- Assertiveness
- Persuasion
- Use of influence strategies
- Monitoring
- Concern for employees welfare
11. Entrepreneurial Motivation
- Need for achievement
- Need for power
- Need for affiliation
- Need for autonomy
12. Entrepreneurial Values
- Theoretical doctrinal values
- Social values
- Aesthetic values
- Political values
- Economic values
- Moral values
Class 12 Key Points, Important Questions & Practice Papers
Hope these notes helped you in your schools exam preparation. Candidates can also check out the Key Points, Important Questions & Practice Papers for various Subjects for Class 12 in both Hindi and English language form the link below.
Class 12 NCERT Solutions
Candidates who are studying in Class 12 can also check Class 12 NCERT Solutions from here. This will help the candidates to know the solutions for all subjects covered in Class 12th. Candidates can click on the subject wise link to get the same. Class 12 Chapter-wise, detailed solutions to the questions of the NCERT textbooks are provided with the objective of helping students compare their answers with the sample answers.
Class 12 Mock Test / Practice
Mock test are the practice test or you can say the blue print of the main exam. Before appearing in the main examination, candidates must try mock test as it helps the students learn from their mistakes. With the help of Class 12 Mock Test / Practice, candidates can also get an idea about the pattern and marking scheme of that examination. For the sake of the candidates we are providing Class 12 Mock Test / Practice links below.
Class 12 Exemplar Questions
Exemplar Questions Class 12 is a very important resource for students preparing for the Examination. Here we have provided Exemplar Problems Solutions along with NCERT Exemplar Problems Class 12. Question from very important topics is covered by Exemplar Questions for Class 12.
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