Enterprenurial Skills III Class 11 CBSE Employenility Skills 3
Introduction to Entrepreneurship
Let us begin by looking at some common terms used in business.
An entrepreneur is a person who tries to meet needs of a customer through new ideas or ways of doing business
and makes profit in return.
New ideas with which an entrepreneur adds value to a business can be of many kinds, including new products — like adding varieties, new services like home
delivery or credit services, new marketing ideas, new cost reduction ideas and many more.
Entrepreneurship is a process of developing a business plan, launching and running a business using innovation
to meet customer needs and to make a profit.
Let us read a story to further understand
The meaning of entrepreneurship
Who is an entrepreneur?
Pratap, the Vegetable Seller
Pratap was a vegetable seller in Agra. He was well known in the market for always selling fresh vegetables.
He used to wake up every morning at 3 am to get there.
However, during summers, a lot of his leftover vegetables used to get wasted at the end of the day.
To stop this wastage, he started selling the stale vegetables. This earned him a bad name in the market and people stopped going to his shop.
Pratap then came-up with an idea! Vegetables home-delivery services — people could order the type
and quantity of vegetable they wanted a day before, and pratap would buy exactly that much from the wholesale
market and deliver it fresh to their house.
Now his customers do not have to go through the inconvenience of commuting to the market and thus
can have the vegetables delivered at their doorstep. All they have to do is call Pratap on his mobile phone and
place an order.