ICSE Class 11 Entrepreneurship — Flashcards for Quick Revision

A: An entrepreneur is a person who sets up a business or enterprise, identifies business opportunities, organises resources such as land, labour, capital, and technology, and takes risks to create wealth

A: Entrepreneurs help economic and social development by creating businesses, generating employment, introducing innovation, and acting as a catalyst for change. They also help other sectors grow by star

A: Ritesh Agarwal identified a gap in affordable and standardised hotel services and built OYO Rooms using technology. This shows opportunity recognition, innovation, and the ability to organise resource

A: Entrepreneurial motivation is the inner urge that inspires an individual to start, sustain and grow a business. It gives energy, direction, and persistence to entrepreneurial efforts and helps a perso

A: Motivation begins when a need is not satisfied. That unsatisfied need creates tension, which generates a drive to act. The person then searches for ways to meet the need. When the need is fulfilled, t

A: Motivation helps an entrepreneur stay focused on goals, take initiative, and continue working during difficulties. It supports business growth, persistence, and the ability to move from ideas to actio

A: Entrepreneurship is a systematic innovation that involves a purposeful and organised search for change and a systematic analysis of the opportunities that such change may offer for economic and social

A: Entrepreneurship begins with idea generation and continues through planning, organising, decision-making, innovation, expansion, and sometimes exit. It does not stop after a business is started. It ke

A: Innovation is the heart of entrepreneurship. It helps turn ideas into useful products, services, processes, or business models that create value and meet market needs. Without innovation, business act