Entrepreneur — Chapter Summary
ICSE · Class 11 · Entrepreneurship
Summary of Entrepreneur for ICSE Class 11 Entrepreneurship. Part of the ICSE Class 11 Entrepreneurship syllabus.
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Overview
An entrepreneur is a person who identifies business opportunities, organises land, labour, capital, and technology, takes risks, and creates wealth, employment, and innovation. Entrepreneurs act as a catalyst of economic and social change. Their role is important because they convert ideas into work
Key Concepts
An entrepreneur is responsible for setting
An entrepreneur is responsible for setting up and managing a business or enterprise. Such a person identifies opportunities, organises resources, take
Richard Cantillon described an entrepreneur as
Richard Cantillon described an entrepreneur as a risk-bearer who buys at a certain price and sells at an uncertain future price. Adam Smith described
Founder entrepreneurs start a business
Founder entrepreneurs start a business for the first time in the family. Second-generation entrepreneurs take over a business created by the founder.
Franchisees start a business using
Franchisees start a business using the brand name, products, and operating system of an established company. Owner-managers both own and manage their
C
C. Danhof broadly classified entrepreneurs into four types based on their attitude towards innovation and change: innovative, imitative, Fabian, and d
Learning Objectives
- Understand the meaning of an entrepreneur
- Learn the views of important thinkers on entrepreneurship
- Study the main classifications of entrepreneurs
- Recognise the features of a successful entrepreneur
- Relate entrepreneurial types to real examples
Frequently Asked Questions
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Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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