Unit 4 Entrepreneur Skills

Although each entrepreneur is unique, there are several traits and features that
have been seen to be shared by successful entrepreneurs over time. Along with
characteristics and attributes, each entrepreneur has a unique motivation for
pursuing entrepreneurship as well as a unique road to success.

Barriers to Becoming an Entrepreneur

Simply seeing a need or having a concept for how to fill the gap is not a solid
enough foundation for starting a new business. Before they develop a business
plan, borrow money, or produce the product, entrepreneurs must be aware of the
barriers to entry of the industry.

Unsupportive business environment

Due to cartelization, governmental laws, corruption, bribery, bureaucracy, etc.,

the business climate and ecosystem may not be friendly.

Market entry regulations

Barriers to venture formation can include taxes, governmental regulations,

licensing requirements, environmental standards, and lending requirements. For
starting a new business and entering the market, license is frequently
necessary. Entry hurdles to the market include tax disadvantages, a lack of
property rights, and tax practices that are predatory.

Shortage of capital

Any firm needs capital or finance to develop products or services, arrange the
many production components, hire and train staff, advertise and sell, etc. Lack of
capital or trouble finding the suitable investor or lender to launch and operate an
organization is sometimes a major hurdle to entrepreneurship, particularly in
developing nations.

Skilled workforce challenges

Employees form the heart of the business. One of the most crucial but
overlooked tasks in a business is to build a skilled employee asset base. Lack of
appropriate practical and technical skills, lack of qualified employees, employee
turnover, changes in labor laws, increase in employee’s financial expectation etc.
create barriers towards entrepreneurship and smooth functioning of the business.

Lack of Entrepreneurial Mindset & Training

Entrepreneurial mindset refers to having entrepreneurial abilities, being eager to
start new businesses, being persistent in trying circumstances, and being
flexible. It is a hurdle to entrepreneurship if this kind of thinking is discouraged in
any culture.

Risk Aversion

Entrepreneurs must choose whether to act so they don’t miss the boat while also
being aware that taking quick action could sink the boat. Every business involves
some level of risk, so it can be difficult for entrepreneurs to succeed if the people
in that nation, region, or culture are risk averse.

Entrepreneurial Skills Class 12 Notes

Fear as a barrier
Fear is characterized as a negative emotion brought on by the perception of
danger, whether actual or imagined. Fear is regarded as an emotion in human
psychology since it can help a person avoid disaster while at the same time
holding them back.

Fear of failure

The assumption that everything could go wrong in the business is the basis for
the fear of failure. The best way to overcome this fear is to accept that failure.

Entrepreneurial Skills Class 12 Notes

Fear of the unknown

Entrepreneurial journey is full of ambiguities and uncertainties. It is common to

avoid uncertainties and unknown because we fear change. Many people are
afraid of losing control and being unable to manage potential outcomes.

Fear of not being an expert

This fear can become a barrier for many budding entrepreneurs. It is the feeling
of not knowing enough about your industry or business or product. Many
entrepreneurs are not considered experts in their line of business, but still they
make important decisions and solve issues everyday within their industry.

Fear of being pushed into uncomfortable situations

Uncomfortable circumstances are those that make you feel afraid. For instance,
many people find public speaking to be quite uncomfortable and are afraid of it.
Fear of risk taking

Risk can be dangerous and unmitigated or thoughtful and calculated risk.

Dangerous risk is more like gambling while calculated risk is more like strategy.

Entrepreneurial Skills Class 12 Notes

Entrepreneurial Competencies
Certain expertise, abilities, or personality traits are necessary for entrepreneurial
behavior. It is commonly referred to as entrepreneurial skill or qualities. A
competency may be characterized as underlying personal traits that lead to
efficient and/or exceptional performance in a job. The success of an entrepreneur
and the accomplishment of entrepreneurial goals are significantly influenced by
their entrepreneurial competencies.

Common Entrepreneurial Competencies

In a study by renowned behavioral scientist David C. McClelland and the

Entrepreneurship Development Institute of India (EDII), specific abilities were
found in successful entrepreneurs who demonstrated exceptional performance.
These skills can be acquired in a young entrepreneur through training,
experience, and mentoring. These competencies include, among others:

Taking Initiative – It involves taking the initial step toward starting a business
and acting.

Seeking and Acting on Opportunity – An entrepreneur is constantly looking for

opportunities and is prepared to seize them in the business’s best interests.

Persistence – A successful entrepreneur continuously trying, adapting, and

iterating to get beyond challenges that stand in the way of reaching objectives.

Information Seeking – A successful businessperson is always alert to new

opportunities, open to fresh ideas, and committed to achieving their objectives.
He or she is always willing to seek advice from mentors and professionals in
order to make the best decisions.

Entrepreneurial Skills Class 12 Notes

Concern for High Quality – Successful businesspeople are known to not be

content with performance that is above average or ordinary. They hold
themselves to the highest standards and then give it their all to live up to those
ideals. They put a premium on perfection, and it shows in all they do.
Commitment – Entrepreneurs demonstrate a high level of dedication to their job
and choices. An entrepreneur must remain dedicated to their business and their
objective if they are to succeed.

Concern for Efficiency – Many business owners are constantly looking for
innovative ways to boost productivity. They attempt to develop new techniques
with the goal of making work simpler, better, and more affordable.

Systematic Planning – Entrepreneurs who are successful make decisions for

the future while keeping the desired outcomes in mind. In order to manage a
successful business, they think it is important to create plans that are both
pertinent and realistic and to make sure those plans are carried out effectively.

Problem Solving – An entrepreneur views every issue as a challenge and does

all in their power to identify the greatest solution. He or she will first comprehend
the issue before developing a suitable method to address it.

Self-confidence – Because they have faith in their own capabilities and

qualities, entrepreneurs are not intimidated by challenges. They have complete
faith in their expertise, competency, and competence, and they are self-assured
enough to handle future uncertainty.

Assertiveness – An assertive individual is aware of when, how, what, and to

whom to speak. Entrepreneurs are aggressive when making decisions to make
sure that the team’s activities and the entrepreneur’s choices are in line with the
organization’s goals.

Entrepreneurial Skills Class 12 Notes

Persuasiveness and Influencing Others – Entrepreneurs must persuade many

groups of individuals at various times, including workers, clients, customers,
suppliers, and so on. An entrepreneur is able to persuade people to agree with
him or her by presenting persuasive arguments.

Effective Strategist – An effective businessperson is capable of developing

pertinent strategies that are intended to protect or advance the objectives and
goals of the company. When it comes to addressing potential future uncertainties
or problems posed by competitors, etc., strategy is possible.

Effective Monitoring – Entrepreneurs make sure that everything is done in their

businesses according to their decisions, but they also offer their employees some
latitude. They make sure that work is routinely monitored to ensure that the
organization’s objectives are met as effectively as possible.

Concern for Employees Welfare – Dedicated, devoted, and loyal personnel

have a direct impact on the organization’s performance. A successful
businessperson works to advance employees’ interests, aids in resolving issues
they face, and fosters a sense of interdependence between management and
employees’ interests.

Adaptability – The ability to modify one’s thoughts and behaviours in order to

appropriately respond to uncertainty, new information, or altered circumstances
is referred to as adaptability. Due to the dynamic nature of businesses,
adaptation becomes a survival skill in the workplace.

Decision Making – Being ability to make judgments that, more often than not,
determine the future of the business is one of the most crucial characteristics of
an entrepreneur. Entrepreneurs frequently have to make that crucial decision at
the proper time while in charge of their business because it will determine how it
will develop in the future. Additionally, they must take immediate action after
making a decision.

Goal Setting – Goal setting refers to establishing short or long-term objectives,

usually along with incorporating deadlines and quantifiable measures to indicate
if they have been achieved.

Entrepreneurial Skills Class 12 Notes

Team Building – Any activity or technique that unites people and inspires them
to cooperate as a team is known as team building.

Interpersonal Skills – Each team member’s communication and interpersonal

skills must be consistent and clear for the group to operate effectively.

Creativity – Making small adjustments and modifications to ideas and solutions

through time is the process of creativity. Entrepreneurs demonstrate creativity by
utilizing the design thinking process, considering alternatives, attempting
unorthodox methods of doing things, and continuously improvising and iterating.

Risk Taking – There is plenty risk taken by entrepreneurs, but it is calculated

risk. They estimate the loss and return of the risk using risk management
techniques.

Perseverance – It is essential to have patience, persistence, and the willingness

to carry on even if the initial battle is lost. Entrepreneurs must remain steadfast,
have patience, and have faith in their goals. The only way to find a solution is to
try various approaches and methods.

Entrepreneurial Skills Class 12 Notes

Negotiation skills – Entrepreneurs must have strong negotiating abilities to

succeed in business. A business owner’s ability to negotiate is important in a
variety of situations, including dealing with suppliers, closing sales to customers,
employing employees, getting investors, etc.

Organizational skills – In addition to planning and prioritizing their everyday

tasks, entrepreneurs need organizational abilities to manage teams, delegate,
set goals, continuously evaluate, inspire, and lead those around them.

Stress management – Due to their busy schedules, entrepreneurs must learn

how to control their stress. This relates to taking regular breaks, preserving work-
life balance, establishing realistic goals, interacting with other like-minded
business owners, etc.

Valuing service and diversity – Diversity refers to how a company handles its
employees in a genuine manner from the very foundations of its business
strategy. A business owner must always keep in mind that those who work for
them are truly doing their work for them. People of all races, religions, genders,
and other distinctions must be treated fairly and with respect in order for them to
coexist and advance together.

Entrepreneurial Skills Class 12 Notes

Benefits of Entrepreneurial Competencies

• Taking actions to implement your ideas.
• Understanding the need or the problem your offering is fulfilling or solving.
• Strategizing and planning the steps that need to be taken.
• Preparing an action plan and timeline.
• Networking with stakeholders.
• Interacting with customers.
• Gaining and analyzing insights.
• Looking for alternatives and adjusting plans according to analysis and
feedback.
• Evaluating and calculating the risk involved.
• Building and motivating a team.
• Being patient and staying motivated to overcome and work around various
obstacles.
• Showing the value that the business is creating for stakeholders and customers.
• Gaining the know-how of creating, building, launching, sustaining, managing
and growing a business.

. What training needs entrepreneurship to develop business.

Answer – Training in entrepreneurship development needs to include –

a. Entrepreneurship Orientation and awareness
b. Development of competencies
c. Improvement of business performance for growth and competitiveness

2. What do you mean by entrepreneur?

Answer – The word “entrepreneur” is derived from the French word
“entreprendre,” which means ‘to undertake’.

3. What are the different characteristics of entrepreneurship?

Answer – Some of the characteristics of entrepreneurship are –

a. It is an economic activity done to create, develop and maintain a profit-oriented
organization.

b. It all starts with recognizing an opportunity as a way to sell and profit in the
market.

c. It deals with optimization in utilization of resources.

d. It is the ability of an enterprise and an entrepreneur to take risks.

4. What is the quality of a successful entrepreneur?

Answer – There are many qualities needed to successfully run an enterprise.

a. Initiative – An entrepreneur must be able to take initiative and take advantage

of an opportunity.

b. Willingness to take risks – There is a certain amount of risk in any firm. It is

not necessary that every business shall earn a profit. The entrepreneur takes up
risks and starts a business.

c. Ability to learn from experience – It is possible for an entrepreneur to make

mistakes. Once an error is committed, it must be ensured that it is not repeated
in future otherwise it may lead to heavy losses.

d. Motivation – When you’re inspired to do anything, you won’t stop until you’ve
finished it.

e. Self-confidence – A person must have faith in himself or herself in order to

succeed in life.

f. Hard work – In life, there is no replacement for hard work. Every day, while
running a business, one or more problems may develop. The entrepreneur must
be vigilant in order to recognize and resolve difficulties as soon as possible.

g. Decision making ability – An entrepreneur must make a number of decisions

when running a business. As a result, the individual must be capable of making
appropriate and timely decisions.
 Entrepreneurship Skills Class 12

5. What are the different types of entrepreneurs?

Answer – There are many types of entrepreneurs, which include the following.
a. Service entrepreneurs – These entrepreneurs either develop a new market
for their services or serve an existing one. They recognize an opportunity and
turn it into a service.

b. Business entrepreneurs – These are entrepreneurs who engage in

commercial and marketing operations but do not engage in production. A
business entrepreneur identifies a product’s market potential.

c. Industrial entrepreneurs – An industrial entrepreneur is simply a

manufacturer that recognises client needs and develops products or services to
meet those demands.

d. Agricultural entrepreneurs – Agriculture has always been thought of as a

low-returning business. Agriculturists have now implemented new and innovative
technology in order to increase productivity.

e. Technical entrepreneurs – The Industrial Revolution gave birth to technical

entrepreneurs, and they use their technical expertise to build and sell machinery,
tools, and procedures.

f. Non – technical entrepreneurs – These entrepreneurs use their expertise in

providing services to create a market for technical entrepreneurs.

g. Professional entrepreneurs – Such an entrepreneur starts a business,

nurtures it and makes it reach a point of self-sustenance.

h. IT entrepreneurs – IT entrepreneurs are people who start businesses in the

field of information technology (IT).

i. Women entrepreneurs – Women entrepreneurs, as the term suggests, are

women who start their own business.

j. Social Entrepreneurs – Social entrepreneurs are those that focus on

generating solutions that benefit society.

k. Family business entrepreneurs – When a family or a person successfully

operates a firm and passes it on to the next generation, such entrepreneur is
referred to as a family business entrepreneur.
l. First generation entrepreneurs – First-generation entrepreneurs are those
who have never worked in the business world before. They can be of various
ages and come from various backgrounds.

6. What is the role of an entrepreneur?

Answer – Some of the major role of entrepreneur are –

a. Identifying entrepreneurial opportunity – Entrepreneur must have
imagination, creativity, and innovation.

b. Turning ideas into action – Entrepreneurs must be able to bring their ideas
to life. To meet market demand, they should be able to gather information on
ideas, products, and methods.

c. Feasibility study – Entrepreneurs conduct studies to assess the market

feasibility of a proposed product or service.

d. Resourcing – To establish a successful business, an entrepreneur requires a

variety of resources such as money, machinery, raw materials, and labor.

e. Setting up an enterprise – Some legal requirements may be required of the

entrepreneur. In addition, the person must try to find a good place, design the
premises, install machinery, and do a variety of other tasks.

f. Managing the enterprise – The person is responsible for managing the labor,
materials, finances, and the organization of goods and services production.

7. What motivates an entrepreneur?

Answer – Some of the qualities that motivate an entrepreneur

a. Standard of excellence – An entrepreneur always sets high goals for himself

and works to meet them by working hard and being creative.

b. Uniqueness – one of the most important qualities is to remain unique in

everything the person does and the way it is done.

c. Focus on long-term goals – An entrepreneur is more concerned with what

will be accomplished in the distant future than with what will be accomplished in
the near future.

d. Need to influence – The entrepreneur perceives one’s ideas as revolutionary

and expects them to influence the world in a substantial way.
e. Identifying opportunities and risk taking – Finding the perfect business
opportunity for you is a major concern for young entrepreneurs.

Entrepreneurship Skills Class 12

Session 2: Barriers to Entrepreneurship

8. What are environmental barriers?

Answer – One of the biggest barriers that entrepreneurs face is environmental

factors.
a. Lack of adequate resources or raw material
b. Non-availability of skilled labor
c. Lack of requisite machinery and other infrastructure
d. Unavailability of monetary resources on time

9. What are personal barriers?

Answer – Any new enterprise is risky because people are always afraid of what
could go wrong, and these worries create personal boundaries.
Some of the personal barriers are –
a. Self doubt
b. Forming a team and teamwork

Session 3: Entrepreneurial Attitudes

10. Which attitudes make a person successful entrepreneur?

Answer – The attitudes that make a successful entrepreneur are –

a. Decisiveness – Ability to make quick and profitable decisions

b. Taking Initiative – Ability to take charge and act in a situation before others

c. Organizational Skills – Ability to make the optimum use of time, energy and
resources to achieve the desired goals.

d. Interpersonal Skills – Ability to work with others

e. Perseverance – Ability to continue to do something, even when it is difficult.

Entrepreneurship Skills Class 12

Session 4: Entrepreneurial Competencies

11. What is decisiveness?

Answer – Decisiveness is defined as the ability to make quick and profitable

decisions.

The following steps can help you develop your decisiveness.

a. Knowing yourself – You must first choose what is important to you and the
type of problem you want to solve.

b. Identify opportunities – It is important to identify the best way and location

for a business to operate.

c. Analyze the opportunity – What do customers think of the idea and what is
the competition for that idea.

d. Problem solving – You might make changes to your idea after researching
the clients and the market.

12. What do you mean by interpersonal skills?

Answer – Interpersonal means dealing with relationships. It is between two or

more persons.
Some of the ways to develop interpersonal skills are –

a. Listening – It is important to listen when someone talks.

b. Body Language – When working with people or listening, our facial

expressions, gestures, and postures are important.

c. Positive attitude – People with a positive attitude are hopeful and see the
best even in difficult situations.

d. Stress management – When various personalities work together in a team, it

can lead to tension for everyone. In such situations, stress management
becomes important for everyone’s health and well-being.

13. What is perseverance?

Answer – Perseverance is the capacity to keep going even when things are
challenging.
Perseverance can be developed in a variety of ways.
a. Not giving up when there is a difficult situation
b. Working hard to achieve the goal
c. Analyzing failures and learning from them
 Entrepreneurship Skills Class 12

14. Why organizational skills are important?

Answer – The capacity to make the best use of one’s time, energy, and
resources in order to achieve one’s objectives is referred to as organizational
skills.

Organizational Skills include the following –

a. Time management – Time management is the process of planning and

following a conscious control of time spent on specific activities.

b. Goal Setting – A goal is somewhere we want to reach. It is the aim or result

that we want from an activity. Goal makes us work harder, motivates us to
complete what we start and achieve the target.

c. Efficiency – Efficiency is the ability to do things well, successfully, without

wasting time.

d. Managing quality – Managing quality in a business means setting and

maintaining a standard of excellence for products or services being provided to
customers.

1. Entrepreneurs discover an idea to seize on an opportunity, mobilize

money, generate resources, and take calculated risks in order to expand
the market or start a new business for _____________.
a. Products
b. Processes
c. Services
d. All of the above

Hide Answer ⟵
d. All of the above
2. Entrepreneurship development refers to the process of enhancing
entrepreneurial skills and knowledge through _______________
programmes.
a. Structured training
b. Institution building
c. Both a) and b)
d. None of the above

Hide Answer ⟵
c. Both a) and b)
3. To determine the market potential, it is useful to _______________ before
programme formulation.
a. Need Assessment
b. Need Survey
c. Both a) and b)
d. None of the above

Hide Answer ⟵
c. Both a) and b)
4. Training in entrepreneurship development needs to include support
for___________ .
a. Entrepreneurship Orientation and awareness
b. Development of competencies
c. Improvement of business performance for growth and competitiveness
d. All of the above

Hide Answer ⟵
d. All of the above
Entrepreneurship Class 12 MCQ

5. The ______________________ is a premier organization of the Ministry of

Skill Development and Entrepreneurship, Government of India, engaged in
training, consultancy and research to promote entrepreneurship and skill
development.
a. National Institute for Entrepreneurship
b. Small Business Development
c. Both a) and b)
d. None of the above

Hide Answer ⟵
c. Both a) and b)
6. What are the training programs given by the Ministry of Skill
Development and Entrepreneurship, Government of India, from the last 15
years.
a. Management Development Programmes
b. Entrepreneurship cum skill development programmes
c. Cluster Intervention
d. All of the above

Hide Answer ⟵
d. All of the above
7. The word ‘entrepreneur’ is derived from the _________________
entreprendre.
a. French word
b. Austrian Word
c. Greek Word
d. None of the above

Hide Answer ⟵
a. French word
8. The word ‘entrepreneur’ is derived from the French word entreprendre,
which means ‘to undertake’.
a. Undergoing
b. Undertaking
c. Underworking
d. All of the above

Hide Answer ⟵
b. Undertaking
9. Who told “The process by which individuals pursue opportunities
without regard to the resources they currently control.”
a. Stevenson
b. Jarillo
c. Both a) and b)
d. None of the above

Hide Answer ⟵
c. Both a) and b)
10. Characteristics of entrepreneurship?
a. It is an economic activity done to create, develop and maintain a profit –
oriented organization.
b. It begins with identifying an opportunity as a potential to sell and make profit in
the market.
c. It deals with optimization in utilization of resources.
d. All of the above

Hide Answer ⟵
d. All of the above
11. Qualities of a successful entrepreneur?
a. Initiative & Self confidence
b. Willingness to take risks & Hard work
c. Ability to learn from experience & Decision making ability
d. All of the above

Hide Answer ⟵
d. All of the above
12. What are the different types of entrepreneurs?
a. Service entrepreneurs & Agricultural entrepreneurs
b. Business entrepreneurs & Non-technical entrepreneurs
c. Industrial entrepreneurs & Technical entrepreneurs
d. All of the above

Hide Answer ⟵
d. All of the above
Entrepreneurship Class 12 MCQ
13. _________________ entrepreneurs either create a new market for their
services or provide a service in an existing market.
a. Service entrepreneurs
b. Business entrepreneurs
c. Industrial entrepreneurs
d. Agricultural entrepreneurs

Hide Answer ⟵
a. Service entrepreneurs
14. ________________ entrepreneurs, who undertake business and trading
activities and are not concerned with the manufacturing work.
a. Service entrepreneurs
b. Business entrepreneurs
c. Industrial entrepreneurs
d. Agricultural entrepreneurs

Hide Answer ⟵
b. Business entrepreneurs
15. ______________l entrepreneur is, essentially, a manufacturer, who
identifies the needs of customers and creates products or services to serve
them.
a. Service entrepreneurs
b. Business entrepreneurs
c. Industrial entrepreneurs
d. Agricultural entrepreneurs

Hide Answer ⟵
c. Industrial entrepreneurs
16. Agriculture has always been considered as a low-yielding
entrepreneurship. ______________ have now introduced new and
innovative technology to maximize the yield, giving birth to agriculture
entrepreneurship.
a. Service entrepreneurs
b. Business entrepreneurs
c. Industrial entrepreneurs
d. Agricultural entrepreneurs

Hide Answer ⟵
d. Agricultural entrepreneurs
17. The Industrial Revolution gave birth to ____________ entrepreneurs,
who use their technical expertise to create and offer machines, tools and
methods.
a. Technical entrepreneurs
b. Non-technical entrepreneurs
c. Professional entrepreneurs
d. IT entrepreneurs
Hide Answer ⟵
a. Technical entrepreneurs
18. These entrepreneurs use their expertise in providing services to create
a market for ______________ entrepreneurs.
a. Technical entrepreneurs
b. Non-technical entrepreneurs
c. Professional entrepreneurs
d. IT entrepreneurs

Hide Answer ⟵
b. Non-technical entrepreneurs
19. People who take up entrepreneurship in the field of Information
Technology (IT) are called _________________ entrepreneurs.
a. Technical entrepreneurs
b. Non-technical entrepreneurs
c. Professional entrepreneurs
d. IT entrepreneurs

Hide Answer ⟵
d. IT entrepreneurs
20. Individuals, who focus on developing solutions that benefit the society,
are called _______________ entrepreneurs.
a. Technical entrepreneurs
b. Non-technical entrepreneurs
c. Social entrepreneurs
d. IT entrepreneurs

Hide Answer ⟵
c. Social entrepreneurs
21. When a family or an individual runs a business successfully and passes
it onto the next generation, then such an entrepreneur is, generally, termed
as family ____________ entrepreneur.
a. Technical entrepreneurs
b. Non-technical entrepreneurs
c. Social entrepreneurs
d. Family business entrepreneurs

Hide Answer ⟵
d. Family business entrepreneurs
22. Who are the 5th generation entrepreneurs?
a. Different age group without any entrepreneurship background
b. An individual who starts at the age of 50 years without any entrepreneurship
background
c. Both a) and b)
d. None of the above

Hide Answer ⟵
c. Both a) and b)
23. What are the roles and functions of an entrepreneur?
a. Identifying entrepreneurial opportunity
b. Turning ideas into action & Setting up an enterprise
c. Feasibility Study & Resourcing
d. All of the above

Hide Answer ⟵
d. All of the above
24. What motivates an entrepreneur?
a. Standard of excellence
b. Uniqueness & Need to influence
c. Focus on long – term goals
d. All of the above

Hide Answer ⟵
d. All of the above
25. What are the ways by which aspiring entrepreneurs can identify new
business opportunities and evaluate their potential and risks.
a. Community concerns
b. Personal experiences
c. Research with others
d. All of the above

Hide Answer ⟵
d. All of the above
Entrepreneurship Class 12 MCQ

26. Startups come up with an innovative idea. At the same time, they like to
get guidance and mentoring from an expert.
a. Startups
b. Customer
c. Both a) and b)
d. None of the above

Hide Answer ⟵
a. Startups
27. Salman tries new ideas as a tailor in a garment factory. Salman is a/an
______________.
a. Entrepreneur
b. Wage employed person
c. Laborer
d. Unskilled worker

Hide Answer ⟵
b. Wage employed person
28. Prashant works for Surabhi, who is a businesswoman. Prashant is an
___________________.
a. Entrepreneur
b. Wage employed person
c. Skilled worker
d. Businessman

Hide Answer ⟵
b. Wage employed person
Entrepreneurship Class 12 MCQ

Session 2: Barriers to Entrepreneurship

29. What are the barriers that entrepreneurs may face while running their
business?
a. Lack of adequate resources or raw material
b. Non – availability of skilled labor
c. Lack of requisite machinery and other infrastructure
d. All of the above

Hide Answer ⟵
d. All of the above
30. What are the various schemes to help small – scale entrepreneurs gain
capital
a. Government Mudra Yojana
b. Credit Guarantee Scheme
c. Stand – Up India Scheme
d. All of the above

Hide Answer ⟵
d. All of the above
31. Mary believes that she will not have the ability to work with a team when
she starts her business. The barrier she is facing is
_____________________.
a. getting capital
b. self-doubt
c. risk taking

Hide Answer ⟵
b. self-doubt
32. Sayed knows what business he wants to do but does not know what
steps he has to take to get it running. The barrier stopping him is
_____________________.
a. building the right team
b. lack of plan
c. risk taking
Hide Answer ⟵
b. lack of plan
33. Harish has a rug business in India. He wants to start exporting rugs to
Canada but does not know if they would sell there. The barrier he is facing
is _____________.
a. self-doubt
b. lack of plan
c. selecting the right business idea

Hide Answer ⟵
a. self-doubt
Entrepreneurship Class 12 MCQ

Session 3: Entrepreneurial Attitudes

34. What attitudes make a successful entrepreneur?
a. Decisiveness
b. Taking initiative & Interpersonal Skills
c. Organizational Skills & Perseverance
d. All of the above

Hide Answer ⟵
d. All of the above
35. The ability to continue to do something, even when it is difficult, is
called _________________.
a. Initiative
b. Organizational skills
c. Perseverance

Hide Answer ⟵
c. Perseverance
36. The ability to act in a situation before others do is ______________.
a. Interpersonal skills
b. Initiative
c. Perseverance

Hide Answer ⟵
b. Initiative
37. The ability to work with others is ______________.
a. Organizational skills
b. Interpersonal skills
c. Initiative

Hide Answer ⟵
a. Organizational skills
Entrepreneurship Class 12 MCQ
Session 4: Entrepreneurial Competencies
38. ________________ is the ability to make profitable and quick decisions.
a. Decisiveness
b. Initiative
c. Interpersonal Skills
d. Perseverance

Hide Answer ⟵
a. Decisiveness
39. Identify the process where decisiveness can be developed.
a. Knowing yourself
b. Problem solving
c. Analyze the opportunity
d. All of the above

Hide Answer ⟵
d. All of the above
40. ____________ is the ability to take charge and act in a situation before
others.
a. Decisiveness
b. Initiative
c. Interpersonal Skills
d. Perseverance

Hide Answer ⟵
b. Initiative
41. Identify the process where Initiative can be developed in the
entrepreneur.
a. Realize that you can take action
b. Believe you can take action
c. Take action
d. All of the above

Hide Answer ⟵
d. All of the above
42. ______________ means dealing with relationships. It is between two or
more persons.
a. Decisiveness
b. Initiative
c. Interpersonal Skills
d. Perseverance

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c. Interpersonal Skills
43. Entrepreneurs want to develop their entrepreneurship skills, and
suggest some ways to do that.
a. Listening
b. Body Language
c. Positive Attitude
d. All of the above

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d. All of the above
Entrepreneurship Class 12 MCQ

44. That state of mental pressure or tension is called ___________.

a. Stress
b. Headache
c. Mental disturbed
d. None of the above

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a. Stress
45. How you can deal with stress.
a. Taking a walk in nature
b. Doing a physical activity like running, swimming, etc.
c. Practicing deep breathing exercises & Practicing meditation or yoga
d. All of the above

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d. All of the above
46. Perseverance is the ability to continue to do something, even when it is
difficult.
a. Perseverance
b. Meditation
c. Stress
d. None of the above

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a. Perseverance
47. How can you build perseverance in your daily life?
a. Not giving up when there is a difficult situation
b. Working hard to achieve the goal
c. Analyzing failures and learning from them
d. All of the above

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d. All of the above
48. Time management is the process of planning and following a conscious
control of time spent on specific activities. Time management
includes__________.
a. Planning well
b. Setting goals
c. Setting deadlines
d. All of the above

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d. All of the above
49. A goal is somewhere we want to reach. It is the aim or result that we
want from an activity. Goal makes us to ____________ to complete the
work.
a. Work harder
b. Motivates us
c. Both a) and b)
d. None of the above

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c. Both a) and b)