Class 12 - Entrepreneurial Skills [Compatibility Mode]

INFORMATION TECHNOLOGY
CLASS XII

SUBJECT CODE(802)
EMPLOYABILITY SKILLS
ENTREPRENEURIAL SKILLS

#1

Entrepreneurship

What does this word mean to you?

The act of setting out on your own and starting a
business instead of working for someone else in
their business.
Characteristics of an entrepreneur:

• interested
• skilful
• able to (financially) invest
• a risk-taker

#2

The Mind of an Entrepreneur

What is the mind of an entrepreneur
like?

Entrepreneurs are independent thinkers who
believe they have the ability to succeed.

How do they start a business?

• Identify the target audience.
• Identify the specific problem that

audience is experiencing.
• Design a product that will help.
• Explain how the product will help to

solve the problem.

#3

Intrepreneurs

An intrepreneur uses their skill, passion and innovation
to manage or create something useful for someone
else’s business.
Thinking in a critical way and having the same driving
force to provide solutions are very valuable to
employers (and your school!).

Could you be an intrepreneur at school?

What could you do at school that would be acting like an intrepeneur?

• school prefect
• after-school helper
• organise a club or revision group

#4

Our Own Business

Imagine you have a business of your own.
Would you provide goods or services?
Would you make or sell things?
What would you call your business?
What would your brand logo look like?

#5

Enterprise Vocabulary

To run a successful business, you need to understand concepts such
as:

profit stock revenue
credit receipt loss

budget expenses

#6

All businesses incur expenses.

An expense is something the business has to spend money on. Stock,
rent, wages and bills are examples of expenses.

#7

The amount of money a business
receives is known as its revenue.

Revenue is the money the business earns, without considering
expenses.

Revenue can also be referred to as turnover.

#8

Businesses trade to make a profit.

Profit is the amount of money a business makes. It is their revenue
minus their expenses.

#9

Businesses do not want to make a
loss.

A loss occurs when business expenses are greater than the amount of
revenue in a set period of time.

If the business spends more money than it receives, it makes a loss.
12,000 + 34,000 = 46,000
46,000 – 54,500 = -8,500

#10

All businesses need to keep their
receipts in order.

Businesses keep receipts to show what they have paid for
goods and services.

This helps the business to keep track of their budget.

#11

Can you read the following
passage and answer the
questions?

Maran has a small business making ice-cream. Yesterday, he had a
stall at the local market. Maran’s budget for buying ingredients to
make stock for the market was Rs 5000. He had to pay Rs 2000 to hire
the stall and a further Rs 500 each for electricity to run two freezers
to keep the ice-cream frozen.

After a successful day, Maran’s revenue was Rs 10,000.

1. Did Maran make a profit or loss at the market?
2. How much profit or loss did he make?
3. Can you show how you worked this out?

#12

#13

#14

#15

Entrepreneurship Education is
Important - Personal
why?

•7 of 10 high school students want to start their
own business.

•More opportunity to exercise creative
freedoms.

•Higher self-esteem.
•Greater sense of control over your life and

future.

#16

Entrepreneurship Education

what?

• Entrepreneurs are not “born”…they “become”
through the experiences of their lives

• Entrepreneurs have a great diversity of personal
characteristics, the common one: being willing to
take a risk in return for a profit.

• Anyone can be an entrepreneur at any time of
one’s life.

• Entrepreneurship is NOT learned by reading a
textbook and then taking a test to prove you are
one.

• Entrepreneurship education activities are a real-life
vehicle for developing academic skills.

• Entrepreneurs are found in every occupation and
career.

• Entrepreneurship education opportunities are
important at all levels of education.

#17

What does the word ‘budget’ mean?

A That something is cheap B Making sure you don’t
to buy. spend more than you

have.

C Buying everything that I D Asking my family to give
want. me money to buy new

things.

#18

What is the best way to make sure that
you have enough money to buy what

you want to buy?

A Borrow money from B Save up any money that I
someone. get.

C Get a credit card. D Ask someone in my family
to buy it for me.

#19

The money that someone earns
is called their…

A Savings B Job

C Outgoings D Income

#20

If someone spends more than they
earn, they will end up in…

A Profit B Interest

C Debt D Budget

#21

An example of a ‘necessity’ that
adults budget for is…

A Books B Cinema trips

C DFood shopping DVDs

#22

Everything that someone spends
is called their…

A Income B Outgoings

C Profit D Balance

#23

(A) Entrepreneurial Processes

Understands concepts and processes associated
with successful entrepreneurial performance. The
steps in the process of creating and running a
business are:

Discovery
Dreaming about possibilities.

Concept Development
Choosing an idea and creating a plan.

Resourcing Entrepre-
Testing the feasibility of the plan. neurial
Skills
Actualization
Starting and running the business.

Harvesting Ready Business
Deciding on the future of the Skills Functions
business.

#24

(E) Digital Skills

Understands concepts and procedures needed
for basic computer operations.
•Computer Basics
•Computer Applications

Entrepre-
neurial
Skills

Ready Business
Skills Functions

#25

(J) Human Resource
Management

Understands the concepts, systems, and
strategies needed to acquire, motivate,
develop, and terminate staff.

•Organizing

•Staffing

•Training/Development

•Morale/Motivation Entrepre-
•Assessment neurial
Skills

Ready Business
Skills Functions

#26

(K) Information Management

Understands the concepts, systems, and tools
needed to access, process, maintain, evaluate,
and disseminate information for business
decision-making.

•Record Keeping

•Technology (Cloud Computing)

Entrepre-
neurial
Skills

Ready Business
Skills Functions

#27

(L) Marketing Management

Understands the concepts, processes, and
systems needed to determine and satisfy
customer needs/wants/expectations, meet
business goals/objectives, and create new
product/service ideas.

•Product/Service Creation

•Marketing-Information Management

•Promotion Entrepre-
•Pricing neurial
•Selling Skills

Ready Business
Skills Functions

#28

(M) Operations Management

Understands the processes and systems
implemented to facilitate daily business
operations.

•Business Systems

•Channel Management

•Purchasing/Procurement

•Daily Operations

Entrepre-
neurial
Skills

Ready Business
Skills Functions

#29

(N) Risk Management

Understands the concepts, strategies, and
systems that businesses implement and enforce
to minimize loss.

•Business Risks

•Legal Considerations

Entrepre-
neurial
Skills

Ready Business
Skills Functions

#30

(O) Strategic Management

Understands the processes, strategies, and
systems needed to guide the overall business
organization.

•Planning

•Controlling

Entrepre-
neurial
Skills

Ready Business
Skills Functions

#31

Business Challenge

Split into groups of 5 people.
Your task is to present a business idea pitch at the end of the session.
As entrepreneurs, you will have to think carefully about the next questions to
be sure you are making the best product and doing the right thing.

Who is your target audience?

What are the specific problems that your
target audience are experiencing?

What is your proposed solution?

How will your product solve the
problem?

#32