Entrepreneur as an Innovator and Problem Solver
NIOS · Class 10 · Entrepreneurship
Quick revision notes for Entrepreneur as an Innovator and Problem Solver — NIOS Class 10 Entrepreneurship. Key concepts, formulas, and definitions for last-minute revision.
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Key Topics to Revise
1. Meaning of Entrepreneurship and Social Entrepreneurship
- Entrepreneurship is a creative process.
- It leads to new products, new processes, new knowledge, improved products and services, and better ways of manufacturing with fewer resources.
- When innovation solves social problems, it is called social entrepreneurship.
2. Characteristics of Social Entrepreneurs
- Ambitious: Social entrepreneurs are highly ambitious and do not accept the status quo.
- Social Catalysts: They act as change agents for society.
- Innovative: They solve problems through new ideas and methods.
3. Social Entrepreneur and Traditional/Commercial Entrepreneur
- Social Entrepreneur - Objective: Identify and address long-term social issues.
- Traditional/Commercial Entrepreneur - Objective: Identify and address unfulfilled market gaps.
- Social Entrepreneur - Driving force: Create social value and bring positive change in society.
4. Steps in Social Entrepreneurship
- Step 1: Identify various problems and select one according to expertise and interest.
- Step 2: Look for techniques and resources, both human and others, to find alternate solutions.
- Step 3: Find as many different ways as possible for solving the problem.
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