Entrepreneurship Skills 1 - Part 2
Presentation
•
Professional Development, Computers
•
9th Grade
•
Practice Problem
•
Easy
Anshuta Gadkar
Used 4+ times
FREE Resource
19 Slides • 14 Questions
1
Entrepreneurship Skills 1 - Part 2
By Anshuta Gadkar
2
Learning Objectives
Session 4: Distinguishing Characteristics of Entrepreneurship and Wage Employment
Session 5: Types of Business Activities
Session 6: Product, Service and Hybrid Businesses
Session 7: Entrepreneurship Development Process
3
Session 4 - Distinguishing Characteristics of Entrepreneurship and Wage Employment
4
Sweet Shop
Case Study
5
Profit: M/s Ram Prasad owns a sweet shop in a remote village. He incurs a total cost of Rs 35 per kg of sweets and sells at a rate of Rs 42 per kg to customers. The
amount of profit earned by Ram Prasad’s sweet house amounts to Rs 7/kg, i.e., Rs 42–Rs 35 = Rs 7 per kg. The profit earned is the excess earning after deducting
all expenses.
Risk: A situation where the result is not known and could lead to a loss. For example, when I am making 10 kg of sweets, I risk spending Rs 300/- on buying milk,
sugar, maida and some other person may also start the same business in the same area and sell sweets at a lower price.
6
Entrepreneurship is not without risks but
entrepreneurs are not afraid of taking calculated risks.
Taking risks can lead to failure but failure is acceptable
and entrepreneurs continue their course of action till
they succeed.
7
Characteristics of Entrepreneurship
Ability to take up risks
Believe in hard work and discipline
Adpatable and flexible to achieve the goals of enhancing quality and customer satisfaction
Knowledge of the product and services and their need or demand in the market
Financial literacy and money management skills
Effective planning and execution.
8
Wage Employment
Employer- Employee
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Poll
1. Allows a person to make money
Entrepreneurship
Employment
10
Poll
2. Finding solutions for a community
problem by himself/herself
Entrepreneurship
Employment
11
Poll
3. The job done by the person is decided by
himself/herself
Entrepreneurship
Employment
12
Poll
4. Use personal knowledge and interest to
make money for oneself
Entrepreneurship
Employment
13
Poll
5. Use innovation and creativity to attract
clients
Entrepreneurship
Employment
14
Poll
6. Keep most of the money, i.e., profits made
for a product/ service
Entrepreneurship
Employment
15
Poll
7. Takes risk to make profit
Entrepreneurship
Employment
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Benefits of entrepreneurship
Do what you are interested in
Work for yourself, and not for others
Make profits for yourself
More risk, more profit
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Multiple Choice
(a) Rahul starts a shop to sell Chaat and special Paani
Puri. He is an ______________________
Entrepreneur
Employee
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Multiple Choice
b) Shahid becomes the manager of a dealership selling
food products. He is an ______________________
Entrepreneur
Employee
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Multiple Choice
(c) Ritu leaves the company she worked for and starts
catering food for marriage programmes. She is an
_________________.
Entrepreneur
Employee
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Session 5: Types of Business
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Rahul - the Cricketer
Case Study
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Rahul loved cricket! His favorite player was Sachin Tendulkar and he never missed a match. He went for daily practice with his friends in the park. He was an
all-rounder, like M.S. Dhoni, but he wanted to be a great batsman. He started improving in his game and at the age of 16, he played for the state team. His team lost, but he was sure that he would play for India one day. He was a great player and everyone in his village came to him for advice on cricket. Rahul kept trying but did not get to join any team. Perhaps Rahul could have thought of other options to
stay in touch with his passion for cricket.
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Start a Cricket
Coaching Centre
Start a Sports
Shop
Sports Academy
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Start a Cricket
Coaching Centre
Start a Sports
Shop
Sports Academy
Service
Product
HyBrid
TYPES OF BUSINESSES
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Multiple Choice
1. Arun bakery, which makes and sells bread to people.
Service
Product
Hybrid
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Multiple Choice
2. Ram’s repair shop, which repairs motorcycle.
Service
Product
Hybrid
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Multiple Choice
3. Hari’s hair-salon, where he cuts hair for women and
men and sells shampoos ,conditioners etc.
Service
Product
Hybrid
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Session 6 - Products,Services
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Open Ended
Share your opinion: Which type of business is good? And why?(One reason)
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Session 7- Entrepreneurship Development Process
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Steps of starting a
business
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Steps | Details |
|---|---|
Idea | The first step is to come up with a business idea. A business idea could be based on (a) Something you are interested in doing (For example, making Dosa) (b) A need you see in the market (For example, Tasty food next to the station) |
Getting money and material | Once you have the idea, you can start on a small scale with some money which will help you in buying basic material. |
Understanding customer needs | Once you start selling, you will find out what your customer likes and wants. You will also find out what your customer does not like during this stage. |
Improving Product/ service | You can use this knowledge of what your customer likes and does not like to improve your product. |
Steps of starting a business
33
Entrepreneurship Skills 1 - Part 2
By Anshuta Gadkar
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