XII - entrepreneurship chapter 1 (Part I & II).pdf

CBSE
NCERT
XII
ENtrepreneurship (066)
Unit 1

1. CBSE-XII
ENTREPRENEURSHIP
BYHENNAPUNJABI

2. 2INTRODUCTIONTOSUBJECT
Concept
Finance
Management
Human
Resources
Financial
Resources
CBSE-XII-Entrepreneurship-byHennaP.

3. 3SYLLABUS
CBSE-XII-Entrepreneurship-byHennaP.
▶UNIT1–EntrepreneurialOpportunity
▶UNIT2–EnterprisePlanning
▶UNIT3–EnterpriseMarketing
▶UNIT4–EnterpriseGrowthStrategies
▶UNIT5–BusinessArithmetic
▶UNIT6–ResourceMobilization

4. 4UNIT1–ENTREPRENEURIALOPPORTUNITY
CBSE-XII-Entrepreneurship-byHennaP.
▶Concept
▶Exploringopportunities
▶Environmentscanning-SWOT
▶FactorsaffectingBusinessEnvironment
▶Idea Fields&itsSources
▶Ideas→Opportunities
▶TrendSpotting
▶CreativityandInnovation

5. 5
WhatisanEntrepreneur?
CBSE-XII-Entrepreneurship-byHennaP.
PeterDruckerdefinesentrepreneurasonewho
always searchesforanopportunity.

6. 6
CBSE-XII-Entrepreneurship-byHennaP.
Concept of Entrepreneurship?

7. 7WhatisBusinessOpportunity?
CBSE-XII-Entrepreneurship-byHennaP.
•Aneconomicactivity(leadstobusiness / trade)
•Earnprofits
•Thereisagoodmarket(e.g.Mobilephonesvs.
Typewriters)
•Returnoninvestment

8. 8ElementsofBusiness Opportunity
CBSE-XII-Entrepreneurship-byHennaP.
▶Assuredmarketscope
▶Attractiveandacceptablerateofreturn
▶Practicabilityoftheidea
▶Competenceofentrepreneur
▶Potentialoffuturegrowth

9. 9Businessopportunitiesduringlockdown
CBSE-XII-Entrepreneurship-byHennaP.
•Yogatraining
•Handwriting Classes
•Workfromhomedatapacks(Jio,Vodafone)
•NetBanking
•Newsapps(Inshorts)
•VideoMeetingApps
•TikTok
•SocialMedia(FB,Instagram,Whatsapp,etc.)

10. 10CASE1–HIGHLIGHTS
CBSE-XII-Entrepreneurship-byHennaP.
▶THELAOPALASTORYOFSUSHILJHUNJHUNWALA
▶Indialooksupforglasscrokeryforoccasions
▶Theglassimportswerebannedafterindependence
▶NoqualityglasswarewasavailableinIndianMarkets
▶RadhaGlass–asmallmanufactureroftraditionalglassproducts
▶SushilJhunjhunwala,theeldestsoninheritedhisfather’sbusiness
▶In1980,duringatriptoSouthKorea
▶Opaqueglasscalled‘Opal’
▶LaOpalawasbornin1988

11. 11CASE1–HIGHLIGHTS
CBSE-XII-Entrepreneurship-byHennaP.
▶Timingwasperfect
▶Usedforgifting
▶Affordable,attractiveandelegant
▶Oven-proof
▶BettercomparedtoChineseBoneChinaandPorcelain
▶In1996,incollaborationwithKoreancompanystartednew
companyof handmadelead-crystalglassware,with1100tpa
▶Annualsalesof18crore,150employees
▶In2007,anewplantinDelhi,8,000tpa

12. 12Exploringopportunitiesinenvironment
/ Enterprise Process
Analysing
needsand
problems
Evaluating
ideas
(Creativity)
Identifyinga
product/
service
(Innovation)
Settingupa
project
CBSE-XII-Entrepreneurship-byHennaP.

13. 13PERCEIVINGANDSENSINGOPPORTUNITIES
CBSE-XII-Entrepreneurship-byHennaP.
Needs &
Problems
Creative
Solutions
Entrepreneurial
Opportunities

14. 14PERCEIVINGANDSENSINGOPPORTUNITIES
CBSE-XII-Entrepreneurship-byHennaP.
▶Identifytheproblem
▶Gatherinformationfrommarkets
▶Analyzethetrends
▶Consideralternatives
▶Selectoneortwoalternatives
▶Capitaliseontheidea
▶Persuadetargetaudience

15. 15Factorsinvolvedinsensingopportunities
CBSE-XII-Entrepreneurship-byHennaP.
1.Abilitytoperceiveandpreservebasicideaswhichcouldbeusedcommercially.
Followingaresourcestotapnewopportunities
(a)Problems
(b)Change
(c)Inventions
(d)Competition
(e)Innovation
2.Abilitytoharness(connect)differentsourcesofinformation
(books,journals,seminars,exhibitions,tradefairs,customers,people)
3.Visionandcreativity
(a)Overcomeadversity(difficulty)
(b)Exercisecontroloverthebusiness
(c)Makeasignificantdifference

16. 16EnvironmentScanning
CBSE-XII-Entrepreneurship-byHennaP.
▶Careful monitoringofanorganization’sinternal
andexternalenvironmentfordetectingearly
signsofopportunitiesandthreatsthatmay
influenceitscurrentandfutureplans.

17. 17IMPORTANCE OF ENVIRONMENT
CBSE-XII-Entrepreneurship-byHennaP.
•Identification of opportunities to get first mover advantage
•Formulation of strategies and policies
•Tapping useful resources
•Better performance
•Sensitisationof entrepreneurs to cope up with rapid changes.
•Image building

18. 18
ImportanceofEnvironment
(ifyoudon’tadapt,youdon’tendure)
CBSE-XII-Entrepreneurship-byHennaP.
▶Identificationofopportunitiestoget firstmover
advantage(Zoom)
▶Formulationofstrategiesandpolicies(AXEdeo)
LYNXdeo
▶Tappingusefulresources
▶Betterperformance
▶Sensitisation of entrepreneurs to copewithrapid
changes
▶Imagebuilding

19. 19SWOT
CBSE-XII-Entrepreneurship-byHennaP.

20. 20
Business
Environment
Micro
Environment
Suppliers
Customers
Intermediaries
Competitive
General
Public
Macro
Environment
Political
Economic
Social
Technological
Ecological
Legal
CBSE-XII-Entrepreneurship-byHennaP.

21. 21
An entrepreneur is a person who :
(A)earns income for himself
(B)conceives an idea to start a business
(C)both (A) and (B)
(D)none of the above
CBSE-XII-Entrepreneurship-byHennaP.

22. 22
A business firm can enjoy _____ through
environment scanning.
(A)Last mover advantage
(B)Benefit of taxes
(C)First mover advantage
(D)None of the above
CBSE-XII-Entrepreneurship-byHennaP.

23. 23
6. ............... is one of the factors for sensing entrepreneurial
opportunities.
(A)Vision and Creativity
(B)Competition
(C)Problems
(D)All of these
CBSE-XII-Entrepreneurship-byHennaP.

24. 24
Sudhastartedhersmall-scalebusinessofmakingPicklesalongwithfew
ofherneighboursusingtheirfreetimeathome.Theynamedtheir
venture‘HomesweetHome’.Theywereabletosupplytheentire
district.Oneofthememberssuggestedthattheyshouldexpandand
startsellingtootherstates.Whenshediscussedthesametoher
husband,hesuggestedthattheyhavetoproperlylookintothe
environmentanalysingthecompetitors.HesuggestedSudhato:
(A)Formulatepolicies
(B)Tapusefulresources
(C)Environmentscanning
(D)Imagebuilding
CBSE-XII-Entrepreneurship-byHennaP.

25. 25
CBSE-XII-Entrepreneurship-byHennaP.

26. 26PESTELMODEL
CBSE-XII-Entrepreneurship-byHennaP.
▶POLITICAL
▶ECONOMIC
▶SOCIAL
▶TECHNOLOGICAL
▶ECOLOGICAL
▶LEGAL

27. 27PoliticalEnvironment
CBSE-XII-Entrepreneurship-byHennaP.
•Government affairs
•Attitude of government towards various groups of society
•Policies, implementation and changes
•Type of government in power
•Scan it carefully
•Taxationpolicyrelated to businesses
•Political stability –investment decisions
•Values and ideologies of political parties
•Demonetisation, Skill India Movement, etc.

28. 28
CBSE-XII-Entrepreneurship-byHennaP.

29. 29EconomicalEnvironment
CBSE-XII-Entrepreneurship-byHennaP.
•Purchasing power
•Interestrates
•Inflation
•Businesscycles
•Unemployment
•Disposableincome

30. 30
CBSE-XII-Entrepreneurship-byHennaP.

31. 31SocialEnvironment
CBSE-XII-Entrepreneurship-byHennaP.
▶Demographics
▶Socialmobility
▶Incomedistribution
▶Lifestylechanges
▶Attitudestoworkandleisure
▶Levelsofeducationandconsumerism

32. 32
CBSE-XII-Entrepreneurship-byHennaP.

33. 33TechnologicalEnvironment
CBSE-XII-Entrepreneurship-byHennaP.
▶Research&Development
▶Entryofinnovativeproductsfromforeigncountries
▶Rateofobsolescence

34. 34
CBSE-XII-Entrepreneurship-byHennaP.

35. 35EcologicalEnvironment
CBSE-XII-Entrepreneurship-byHennaP.
▶Sustainabledevelopment
▶GoGreenapproach
▶Reduce,Reuse,Recycle

36. 36
Tata Sponge Iron
Project Title: Plantation and Afforestation
•ProjectImplementationby:TataSpongeIron(Directly)
•Amountspent:INR0.23Cr
•Location:Anseikala,Birikala,Chamakpur,Kandara,DeojharGPinJodaBlockof
KeonjharDistrictandChendipadaofAnguldistrictofOdisha.
•Duetodeforestation,theissueofecologicalimbalanceisbecomingacausefor
concern.However,TataSponge’smassAfforestationprogrammehasbyfar
outweighedthereductionofforestcoverintheareaownedbyit.Initially
companyplantedspecieslikeacacia,bakain,chakindi,etc.Latertheplantation
workwaschangedtofruitbearingplantsandhardwoodtreeslikesandalwood,
rosewood,mahogany,teak&bamboo.
•WhenTataspongestartedthisactivitymostoflandwasbarren.Companybegan
plantingtreeswithhelpofdifferentVolunteerslikeCompanyemployees,their
familymembersandlocalcommunity.
CBSE-XII-Entrepreneurship-byHennaP.

37. 37LegalEnvironment
CBSE-XII-Entrepreneurship-byHennaP.
•Law of land
•Rules and regulations
•Administrative orders issued by government
•Central, State & Local
•FEMA Act, Factories Act, Industrial Disputes Act, etc.
•Taxation
•Employmentlaws
•Monopolisticlaws(patents,copyrights)
•Legislations
•Statutory warning

38. 38
CBSE-XII-Entrepreneurship-byHennaP.

39. 39
_____ affects micro environment.
(A)Political
(B)Economical
(C)Competitors
(D)Legal
CBSE-XII-Entrepreneurship-byHennaP.

40. 40
Victorindustrieshasbeenoneoftheleadingcompaniesin
MobilephoneindustryinIndia.Thecompanydecidedtolaunch
anewModelAI1whichwillhaveinbuiltlatestsoftwareto
encouragehandsfreeuseandenhancethecustomerexperience
through3Dphotos.Theyarealsolookingintoideastouseeco-
friendlyrecyclablematerialsforthebodyofthephonewhich
willcauselessenvironmentaldamage.Identifythetwofactors
ofPESTELmodelfromtheabovecasestudy.
(A)Economic,Social
(B)Ecological,Technological
(C)Legal,Economic
(D)Social,Political
CBSE-XII-Entrepreneurship-byHennaP.

41. 41
▶ProblemIdentification
▶IdeaGeneration(development)
▶IdeaFields(Sourcesofgeneratingideas)
CBSE-XII-Entrepreneurship-byHennaP.

42. 42
Idea
Fields
Natural
resources
CBSE-XII-Entrepreneurship-byHennaP.
Existing
products
Market
drivenor
demand
driven
ideas
Trading
related
ideas
Service
Sector
ideas
Creative
Efforts

43. 43Natural Resources
Ideas can be generated from Natural resources.
CBSE-XII-Entrepreneurship-byHennaP.

44. 44
Existing products or services
Keep up with competition Increase sales
CBSE-XII-Entrepreneurship-byHennaP.

45. 45Trading related ideas
CBSE-XII-Entrepreneurship-byHennaP.

46. 46Market drivenor
demand driven ideas
•Market needs
•Market size
•Level of competition
•General environment
•State of technology
CBSE-XII-Entrepreneurship-byHennaP.

47. 47Service Sector related ideas
•Food Sector
-Fast food
-Family dinner
-Sandwich and salad parlour
-Ice-cream and juice / Beverage
-Indian ‘desserts’ and ‘snack food’
CBSE-XII-Entrepreneurship-byHennaP.

48. 48Service Sector related ideas
Non-food sector
-Tourism
-Personal grooming salons
-Career counselling
-Chain of repair and maintenance services
CBSE-XII-Entrepreneurship-byHennaP.

49. 49Creative Efforts
▶Procter & Gamble’sIvory
soapwasa resultofan
accident.Manufacturingover-mixedthe
ingredientsinthemanufacturingprocess
creatingairbubblesinthesoap,causingit
tofloat.
▶ParleKrackJackwastheresultof
accidentlymixedingredientsofParleG
biscuitand Monaco biscuit.The
management decidedtocomeupwith
thisnewvariantanditbecameahit.
CBSE-XII-Entrepreneurship-byHennaP.

50. 50ProductIdentification
Processing
CBSE-XII-Entrepreneurship-byHennaP.
Knowledge Opportunity
Creative
thinkingSkills
Idea
Competencies

51. 51IdeaandOpportunityAssessment
CBSE-XII-Entrepreneurship-byHennaP.
1.ProductIdentification
2.Applicationanduse
3.Levelofoperation
4.Cost
5.Competition
6.Technicalcomplexity
7.Annualturnoverandprofitmargin

52. 52Market Assessment
CBSE-XII-Entrepreneurship-byHennaP.
1.Demand
2.Supplyandnatureofcompetition
3.Costandpriceofproduct
4.Projectinnovationandchange

53. 53TRENDSPOTTING
CBSE-XII-Entrepreneurship-byHennaP.
▶ReadTrends
▶TalkTrends
▶WatchTrends
▶ThinkTrends

54. 54READ TRENDS
CBSE-XII-Entrepreneurship-byHennaP.

55. 55TALK TRENDS
CBSE-XII-Entrepreneurship-byHennaP.

56. 56WATCH TRENDS
CBSE-XII-Entrepreneurship-byHennaP.

57. 57THINK TRENDS
CBSE-XII-Entrepreneurship-byHennaP.

58. 58CreativeProcess
Idea
Germination
Preparation Incubation Illumination Verification
CBSE-XII-Entrepreneurship-byHennaP.

59. 59InnovationProcess
Analytical
Planning
Organizing
Resources
Implementation
Commercial
Application
CBSE-XII-Entrepreneurship-byHennaP.

60. 60Questions
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61. 61
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62. 62
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69. 69
THANKYOU
CBSE-XII-Entrepreneurship-byHennaP.