Session 2: Values of an Entrepreneur
Unit 4: Entrepreneurship Skills
Textual Question-Answers
Check Your Progress
A. Subjective questions
1. What values does the entrepreneur have?
(a) Rohit runs a special hair salon in Bidar. Young boys come tohim and ask him to give a Justin Bieber haircut. Rohit doesn’t knowabout this haircut so he searches on the Internet and finds the pictures. What value does Rohit have?
Ans: Rohit has the value of ‘adaptability and willingness to learn’. Headapts to customer needs and learns new skills to satisfy them.
(b) Shalu makes special Indian snacks and goes door-to-door in her town to sell it to different people. Only 1 in 10 people to whom she goesbuys her products. What value does Shalu have?
Ans: Shalu has the value of ‘perseverance and determination’. Shecontinues to sell her products despite facing challenges and rejections.
2. What values does a successful entrepreneur have? Write any threevalues, with examples.
Ans:
Innovation – Creating new ideas or improving products, e.g., designing anew app.
Risk-taking – Willingness to invest time and money in uncertain ventures, e.g., starting a startup.
Responsibility – Taking accountability for business decisions and actions, e.g., ensuring quality products are delivered to customers.
3. Write the meaning of the following values with examples:
(a) Independence
Ans: Independence means being self-reliant and making one’s owndecisions without depending on others. Example: Starting your own businessinstead of working for someone else.
(b) Confidence
Ans: Confidence is having belief in one’s abilities and decisions. Example:
Presenting a new business idea to investors without fear.
4. Identify three entrepreneurs from your area. Write down theactions that make them successful and what values they have.
Ans:
Entrepreneur 1: Mr. Kumar, owns a bakery. Actions: Introduced newrecipes, maintained quality, and marketed products locally.
Values: Innovation, responsibility.
Entrepreneur 2: Mrs. Meena, runs a tailoring shop. Actions: Learns newdesigns, satisfies customer needs, trains others. Values: Adaptability, perseverance.
Entrepreneur 3: Mr. Singh, runs a computer repair shop. Actions: Providesquick service, updates skills with new technology, builds customer trust.
Values: Confidence, continuous learning.
