Class 10 Enterpreneurial Skills Notes | CBSE Employability Skills Revision

Class 10 Entrepreneurial Skills Notes by experts to help you ace in CBSE Board Exams. Covers all key concepts, Simple and Easy to Understand.

Session 1: Entrepreneurship and Society

Introduction

• Entrepreneurship means running one’s own business to meet people’s needs and earn profit.
• Entrepreneurs are self-employed people who try new ideas and make their business better.

Role of Entrepreneurs in Society

1. Fulfil Customer Needs: Identify what people want and create products/services to meet demands.
2. Use Local Materials: Utilize local resources and manpower to reduce costs.
3. Help Society: Create businesses that benefit people, donate to schools, hospitals, or support environment.
4. Create Jobs: Hire more people as business grows to work for them.
5. Share Wealth: Income is distributed among employees and suppliers to live better life.
6. Lower Prices: Competition among entrepreneurs reduces product prices.

Session 2: Qualities and Functions of an Entrepreneur

Key Qualities of an Entrepreneur

1. Confident: Belief in self and abilities.
2. Patience: Stay calm while solving problems.
3. Responsibility: Accept mistakes and learn from them.
4. Hard Work: Dedicate long hours for business success.
5. Innovative: keep trying new ideas and imrpvement
6. Creativity: Find new and different ways to solve problems.
7. Decision-making: Think carefully before making business choices.
8. Persistence: Never give up despite challenges.

Functions of an Entrepreneur

• Identify business opportunities.
• Bring together resources – people, materials, money.
• Take business risks.
• Plan and organize work.
• Manage daily operations effectively.

Class 10 Enterpreneurial Skills Notes

Session 3: Myths about Entrepreneurship

Myth 1: Every business idea must be unique.
→ Truth: Common ideas with new features can be successful.

Myth 2: One needs a lot of money to start a business.
→ Truth: You can start small and grow step by step.

Myth 3: Only big businesses are entrepreneurs.
→ Truth: Even small businesses fulfilling customer needs are entrepreneurship.

Myth 4: Entrepreneurs are born, not made.
→ Truth: Entrepreneurial qualities can be learned and developed through education and practice.

Session 4: Entrepreneurship as a Career Option

Types of Employment

1. Wage Employment – People who work for a person or an organization and get paid for that work.
2. Self-Employment – People who start businesses to satisfy the needs of people.

Stages of an Entrepreneurial Career

1. Enter – Start a new business.
   • Example: Sanjana opens a small grocery store.
2. Survive – Face competition and stay in business.
   • Her store survives among other shops.
3. Grow – Expand business to more branches or cities.
   • She opens more stores and plans expansion.