Entrepreneurship, Innovation and Intrapreneurship
ICSE · Class 11 · Entrepreneurship
Flashcards for Entrepreneurship, Innovation and Intrapreneurship — ICSE Class 11 Entrepreneurship. Quick Q&A cards covering key concepts, definitions, and formulas.
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What is entrepreneurship?
Answer
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…
Why is entrepreneurship called a continuous process?
Answer
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…
What is the role of innovation in entrepreneurship?
Answer
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…
What does it mean to say entrepreneurs are opportunity-oriented?
Answer
Entrepreneurs focus on opportunities rather than waiting for perfect resources. They identify possibilities in change and then arrange the resources needed. A common idea linked to this is that entrep…
What kinds of value can entrepreneurship create?
Answer
Entrepreneurship can create economic value, social value, and technological value. Economic value includes profit and income generation, social value includes employment and better living conditions, …
What are the main political factors affecting entrepreneurship?
Answer
Political factors include political stability and government policies. Supportive policies create confidence, while uncertainty, corruption, and bureaucratic delays discourage entrepreneurs. Examples …
How do legal and taxation factors affect entrepreneurship?
Answer
Legal and taxation factors influence how easy it is to start and run a business. Simple registration, efficient contract enforcement, and fair taxation support entrepreneurship. Taxation influences en…
Why is Bengaluru an important example in entrepreneurship?
Answer
Bengaluru is a major technology hub because of skilled engineers, strong IT infrastructure, and access to venture capital. These resources support business growth and make the city attractive for new …
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