Revision Notes For Class 12 Business Studies Chapter 13 Entrepreneurship Development

Entrepreneurship Development is a chapter that briefs the students about who is an Entrepreneur and what is Entrepreneurship Development? This chapter comprises of various concepts – an introduction to Entrepreneurship Development, characteristics of Entrepreneurship, relationship between Entrepreneurship and management, functions of Entrepreneurs is relation to economic development, process of setting up a new enterprise, the process of Entrepreneurship Development, role of environment in Entrepreneurship Development, the role of individuals in Entrepreneurship Development, Entrepreneurial competencies, Entrepreneurial motivation, Entrepreneurial values.

Frequently asked Questions on CBSE Class 12 Business Studies Notes Chapter 13: Entrepreneurship Development

What is ‘Entrepreneurship development’?

Entrepreneurship Development is defined as a process of enhancing the skillset and knowledge of entrepreneurs regarding the development, management and organisation of a business venture while keeping in mind the risks associated with it.

What are the characteristics of ‘Entrepreneurship Development’?

1. Adaptability. 2. Decisiveness. 3. Team Building. 4. Risk Tolerance. 5. Facing Failures with a positive outlook. 6. Persistence.

What are ‘Entrepreneurship values’?

Personal values that an entrepreneur needs are attributes such as honesty, passion, determination and confidence.

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