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1, , Entrepreneurial Skills(unit-4), Entrepreneurship is being talked about a lot in the world today, and especially in India. 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. This unit focuses on encouraging students to learn, about entrepreneurship and its functions from the world around them., We also learnt that successful entrepreneurs have the following qualities., • 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., Session 1: Entrepreneurship and Society, Entrepreneurs run their businesses in a market. The market has people who buy products and services, and people who sell them also. When people are buying and selling from each other, it is helpful for, everyone because everyone involved makes money. This is how entrepreneurs help in growing the area, and society they live in., Aditi has a store where she sells different types of shampoos. She has many customers. She buys, the shampoos in large quantities from a woman. There are two men who work in the store to help, her sell., Aditi is helping people in her area to make money. She is also increasing jobs in her area. Aditi is, helping the people in the society around her to live better., what do entrepreneurs do when they run their business?, Fulfil Customer Needs, , Demand means a product or service that people want. Entrepreneurs find out what people want. Then, they, use their creativity to come up with a business idea that will meet that demand., Use Local Materials, , Entrepreneurs use the material and people available around them, to make products at low cost., Help Society, , Entrepreneurs have a positive relationship with society. They make profits through activities that benefit, 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, , With the growth of a business, entrepreneurs look for more people to help them. They buy more material,, and from more people. The also hire more people to work for them. In this way, more people have jobs., Sharing of Wealth, , Wealth means having enough money to live a comfortable life. As entrepreneurs grow their business, the, people working for them and in related businesses also grow. Hey have more money to live a better quality, life., Lower Price of Products, , As more entrepreneurs sell the same product, the price of the product goes down. For example, when more, mobile phones were getting sold in India, the cost of the phone became lesser., Bharti, the Jewellery Queen(A story), Notes by INDRA

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2, , Bharti is a young woman from Bihar. Many girls in her area like to wear earrings. She buys jute from a, farmer and makes earrings from that. Her business is called Manavi Natural Handicrafts. She sees that, most women in her village do not work. So, she hires two women to help her. As her orders increase, she, buys more jute. She hires three more women to work for her. The farmer, and the women working for her, now earn more money. They are able to save money for their future., Session 2: Qualities and Functions of an Entrepreneur, Qualities of an Entrepreneur, , Quality is a way in which a person acts or behaves. Some examples of qualities in people are hardworking,, nice, rude, etc, , Figure 1, , Notes by INDRA

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3, , Function of an entrepreneur, , Session 3: Myths, , about, , Entrepreneurship, , A myth, or a misconception, is a false belief or opinion about something. For example, if we think tall, people run faster than short people, we have a misconception. It is not true. The truth is that short people, can also run fast., Misconception, , 1.The misconception is that every business idea needs to be unique or special., , The businesses mentioned in the activity above are common businesses that we see every day., But, each entrepreneur saw customer demand and brought a new idea into their business. A person, can take an idea that is already there in the market and do something different with it., , 2. The misconception we have is that a person needs a lot of money to start a business., , The money used to start a business is called capital. Capital is important for starting. However,, every business does not need a lot of capital to start. In the activity, you would have seen that, every entrepreneur started with a different amount. Some had a lot of money, and some did not., But, they are successful today., , 3. A misconception we have is that only a person having a big business is an, entrepreneur., , Notes by INDRA

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4, , Sheila is 35 years old. She loved to drive. She worked hard for five years and bought a taxi for, herself. She wanted to be different from other taxi drivers in the city. She said ‘hello’ to her, customers. She would put that day’s newspaper in her car, for her customers to read. She had a, small TV where customers could watch different channels. She also had a board with the numbers, of the nearby hospitals and hotels. Because of this, customers would stand in line to take a ride in, her amazing taxi!, , 4. A misconception we have is that entrepreneurs are born, not made., , Before we read on, ask yourself this question — Do you think you can be an entrepreneur? Answer, as yes or no., Session 4: Entrepreneurship as a Career Option, A career is a line of work that a person takes for life. There are two ways a person can earn a living., They are, , 1. self-employment, 2. wage employment, For example, a doctor who works for a hospital is a wage employed person. If the same doctor has their, own clinic, he or she is a self-employed person., A self-employed person running a business to satisfy a need by trying new ideas is an entrepreneur., A person who becomes an entrepreneur goes through a career process. This process is as, follows:, 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., 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., 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., , Notes by INDRA