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Entrepreneurship: Concept and Functions- Meaning Video Lecture | Entrepreneurship Class 11 - Commerce
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FAQs on Entrepreneurship: Concept and Functions- Meaning Video Lecture - Entrepreneurship Class 11 - Commerce
| 1. What is entrepreneurship and its concept? |  |
Ans. Entrepreneurship refers to the process of starting, organizing, managing, and running a business venture with the aim of making a profit. It involves identifying opportunities, taking risks, and bringing together resources to create and grow a successful business.
| 2. What are the functions of entrepreneurship? | |
Ans. The functions of entrepreneurship include identifying business opportunities, taking calculated risks, mobilizing and allocating resources, innovating and adapting to changes, managing and organizing business operations, and creating value for customers and stakeholders.
| 3. How does entrepreneurship contribute to the economy? | |
Ans. Entrepreneurship plays a crucial role in the economy by driving innovation, fostering economic growth, creating job opportunities, and promoting competition. Entrepreneurs introduce new products, services, and technologies, which stimulate economic development and improve productivity.
| 4. What skills are important for entrepreneurs? | |
Ans. Successful entrepreneurs possess a range of skills, including creativity and innovation, problem-solving and decision-making, leadership and management, communication and networking, financial literacy, and resilience. These skills enable entrepreneurs to navigate challenges, seize opportunities, and effectively manage their businesses.
| 5. How can someone become an entrepreneur? | |
Ans. Becoming an entrepreneur requires a combination of personal traits, knowledge, and experience. Some steps to become an entrepreneur include identifying a business opportunity, conducting market research, developing a business plan, securing funding or investment, setting up the business operations, marketing and promoting the products or services, and continuously learning and adapting to the market dynamics.
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Dec 22, 2024 Last updated |
Video Description: Entrepreneurship: Concept and Functions- Meaning for Commerce 2024 is part of Entrepreneurship Class 11 preparation.
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Video Lecture & Questions for Entrepreneurship: Concept and Functions- Meaning Video Lecture | Entrepreneurship Class 11 - Commerce - Commerce full syllabus preparation | Free video for Commerce exam to prepare for Entrepreneurship Class 11.
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