Page 103 - Computer - 10(A&B)

Disadvantages of Entrepreneurship as Career

v Risk: It involves considerable risk as failure can wipe away all the personal savings and increase the debt
burden.
v Uncertain Income: There is no fixed and regular income for an entrepreneur. Initially it may be difficult to
meet household expenses.
v Hard Work: The life of an entrepreneur is not easy. He has to work very hard to make the new business
successful.
v Problem of Finance: Arranging for finances is not easy for a first generation entrepreneur.
v Incompetent Staff: Incompetent staff hired by an entrepreneur because of low financial status may be
harmful for the business.

Write any two advantages and two disadvantages of entrepreneurship as a career.
Advantages Disadvantages
____________________________________________ ____________________________________________
____________________________________________ ____________________________________________

Let
Let us Recallus Recall

• An entrepreneur is an individual who, rather than working as an employee, creates and runs a small business, with all the risks
and rewards of the venture.
• Entrepreneurship is the process of discovering an opportunity, mobilising resources, and launching an enterprise to use the
opportunity.
• Successful entrepreneurs have many qualities in common: Discipline, Confidence, Flexibility, Taking Initiative, Competitive,
Creativity, Determination, Motivator, Strong Work Ethic, Passion, Leadership, and Dynamism.
• An entrepreneur should possess the following entrepreneurial functions: innovation, risk-taking, building of organisation, taking
initiative, organising resources, identifying opportunities and prospects, decision making, technology transfer and adaptation,
fostering autonomy, social responsibility, public relations and sharing experiences.
• The roles and importance of an entrepreneur include: wealth creation, job creation, regional development, improving standard
of living, visionary, achiever, and community development.

Se
Self-Assessmentlf-Assessment

A. Tick () the correct option.

1. An entrepreneur is a good ________________.
leader soldier

doctor none of these
2. A successful entrepreneur is always ________________.

pessimistic optimistic
none of these both of these

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