Page 111 - Computer - 9(A&B)

 Cooperative Society: It is a society organised with the purpose of rendering
service to its members and to the public in general. It is organised on the principle
of mutual self-help. As an incorporated association of persons, it enjoys long-
lasting life. It has a distinct identity and the liability of its members is limited. For
example, Amul, an India dairy brand is owned by the GCMMF having 3.6 million
milk producers.

Write any five key characteristics of sole proprietorship.
1. ______________ 2. ______________ 3. ______________ 4. ______________ 5. ______________

Session 2

Demonstrate the Knowledge of Distinguishing Characteristics of Entrepreneurship

An entrepreneur is a person who undertakes a new business venture as per the market requirements with some
potential for profi t. Entrepreneurship is the act of setting up a business, process or service and taking on fi nancial
risks with the goal of earning some profi t. In other words, we can say that the entrepreneur is the person, the
entrepreneurship is the process and an enterprise is the outcome.

Entrepreneur Entrepreneurship Enterprise

The Person The Process The Outcome

Inter-relationship between Entrepreneur, Entrepreneurship and Enterprise
Entrepreneurship Development

Entrepreneurship development is the process of improving the skills and knowledge of entrepreneurs through
various trainings and classroom programs that teach the dynamics of business set-up, development and
expansion of the enterprise. It refers to inculcation, development and polishing of entrepreneurial skills enabling
people to establish an enterprise and run it successfully. The purpose of studying entrepreneurship development
is to promote entrepreneurship that will help lessen unemployment problem and overcome stagnation through
competitiveness, potential and innovation. It plays a signifi cant role in developing an economy. This organised
and systematic development is a tool of industrialization and a solution to unemployment problem for any
country.

Stages in Entrepreneurship Development Process

An entrepreneur must fi nd, evaluate and develop an opportunity by overcoming the challenges that come in the
way of starting new business ventures.

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