Types of Business

Date : 1.April.2020

Sub  : Entrepreneurship

Day  : 4

Time : 7.30am -8.10am 

Period : 1 

Class    : 11

Learning Outcomes

Categories of types of entrepreneurs

• invite students to think and analyse what kind of entrepreneurs will they become
• Role of entrepreneurs in India.

A very good morning students

Thankyou for logging in

I hope those of us who joined our Google meet classes yesterday benefitted from it

Today we are going on to the 2nd topic of the second chapter

We will be learning the TYPES OF BUSINESS

Depending on the nature, size and type of business, entrepreneurs are dividedinto 5 categories

1.    Business Entrepreneurs

2.   Trading Entrepreneurs

3.   Industrial Entrepreneurs

4.   Corporate Entrepreneurs

5.   Agricultural Entrepreneurs

6.   Use of Technology:                                                                                                                      -(i) Technical Entrepreneur                                      (ii) Non - Technical Entrepreneur

7.   Professional Entrepreneurs

8.   Motivation                                                                                                                         (i) Spontaneous Entrepreneurs                                                                                                     (ii) Induced Entrepreneurs                                                                                                         (iii) Motivated Entrepreneurs

The notes for the above Entrepreneurs is given below

Business Entrepreneurs

                Business entrepreneurs are those who develop an idea for a new product or service and then establishes an enterprise to produce products according to their ideas. Most of the entrepreneurs belongs to this category .

Trading Entrepreneurs

                They undertakes trading activities whether domestic or foreign trade . They have to identify the potential market for his products in order to stimulate the demand of products. They use many techniques to promote trading.

Industrial Entrepreneurs

                They essentially manufacture products and offer services, which have an effective demand in the market. They have the ability to convert economic resources and technology into a profitable venture.

Corporate Entrepreneurs

                They are those who through their innovative ideas and skill able to organize , manage and control a corporate undertaking very effectively and efficiently. Usually, they are promoters of the undertaking / corporations , engaged in business, trade or industry.

Agricultural Entrepreneurs

                Those who undertakes agricultural as well as allied activities in the field of agriculture is known as agricultural Entrepreneurs. They engage in raising and marketing of crops, fertilisers and other inputs of agriculture through employment of modern techniques, machines and irrigation.

Technical Entrepreneurs

                The Entrepreneurs who are technical by nature in the sense of having the capability of developing new and improved quality of goods and services out of their own knowledge , skill and specialization are called technical Entrepreneurs. They concentrate more on production than marketing .

Non-Technical Entrepreneurs

                Non-Technical Entrepreneurs are those who mainly concerned with developing alternative marketing and distribution strategies to promote their business. They are not concerned with the technical aspect of the product and services they are dealing with .

Professional Entrepreneurs

                They make  their profession to establish business enterprise with a purpose , to sell them once they are established. He or she is always looking forward to develop alternative projects by selling the running business. He is not interested in managing operations of the business established by him. He or she is very dynamic.

  

Spontaneous Entrepreneurs

                They are otherwise known as pure Entrepreneurs , who are motivated by their desire for self – fulfilment and to achieve or prove their excellence in job performance . They undertake entrepreneurial activities for their personal satisfaction in work , ego, or status. Their strength lies in their creative abilities. They are the natural Entrepreneurs in any society.

Induced Entrepreneurs

                They enter into entrepreneurship because of various governmental supports provided in terms of financial assistance, incentives, concessions, and other facilities to the peoples who want to setup of their Enterprises. 

Motivated Entrepreneurs

                They are motivated by their desire to make use of their technical and professional expertise and skill in performing the job or project they have taken up. They have enough confidence in their abilities . they are highly ambitious and are normally not satisfied by the slow progress in their jobs.

Please go through the video link provided below

https://www.youtube.com/watch?v=k07xq2I3_VI


Your assignment
1.Please go through your e book
2.These entrepreneurs develop an idea for a product ____________
3. Undertake trading activities within or outside the country ___________
4. have the ability to converteconomic resources and technology into profitable venture ________
5. Undertake agricultural and allied activities__________
6. Write down the types of Motivation Entrepreneurs

Unit 1 and 2 IMPORTANT TERMS

Date : 1.April.2020 
Sub  : Entrepreneurship
Day  : 4
Time : 10am - 10:45am 
Period : 4 
Class    : 12

Learning Outcomes

• Revision of Important terms in both Units
• Familiarise students about the Important terms in both units
• Revision of the Definitions as a matter of fact

 A very good morning students 

Thankyou for logging in

Today im sending you some very important terms from the two units that we have done till now

Please keep it safely because it will be very helpful for you during the exam.

Please go through the Important terms and learn them well.

From the next week we will start with a new unit

ENTREPRENEURSHIP-XII

IMPORTANT TERMS

UNIT 1 & UNIT 2

Entrepreneurship: - Entrepreneurship is the process of identifying opportunities in the market place and arranging for resources to exploit the identified opportunity in order to harness long-term gains.

Entrepreneur: - An entrepreneur is a person, who is a catalytic agent in converting a situation into an opportunity and set-up a business in the process.

Business Opportunity: - It is an economic idea which can be implemented to create an enterprise and earn profits.

Perceiving and Sensing Opportunities: - Sensing entrepreneurial opportunities is a process of converting an idea into an opportunity and then into an enterprise.

Environment Scanning: - Careful monitoring of an organisation’s internal and external environment for detecting early signs of opportunities and threats that may influence its current and future plans.

Environment Analysis: - It is the process of monitoring the economic and non-economic environment, to determine the opportunities and threats to an organisation.

Problem Identification: - When there is road block in a situation, which poses a conflict and forces you to find a solution, then this road block is a problem and when one identifies this road block, it is called problem identification.

Idea Generation: - Idea generation is a process of creating, developing and communicating ideas which are abstract, concrete or visual.

Innovation: - It is a process of entrepreneurship which involves the translation of a useful idea into an application which has a commercial value.

Meaning of a business plan: - A business plan is basically a written representation of an entrepreneur’s vision for his business. It is a comprehensively written document prepared by an entrepreneur describing formally all the external and internal factors involved in starting a new venture.

Production Plan: - Production is the most important activity of an enterprise because it is through this process that raw materials are transformed into finished products.

Operational Plan: - Operational plan is a system whereby there is achieved a smooth and coordinated flow of work within the factory so that, by planning and control of all the productive operations in all the stages of manufacture, the final product is completed in accordance with the plans.

Organisational Plan: - The organisational plan is that part of the business plan that describes the proposed ventures from of ownership.

Proforma Income Statement: - A proforma income statement gives the projected net profit of the business based on projected revenues and projected expenses.

Break-even Analysis: - Break-even analysis is a useful technique for determining how many units must be sold or how much sales volume must be achieved in order to break-even.

Target Market: - Target market means the consumers who are likely to buy a product, e.g. the target market for bikes is the younger generation.

Market Segmentation: -Dividing the market in smaller groups on the basis of consumer characteristics or buying situations is called market segmentation.

Marketing Strategy: - A marketing strategy is a marketing action plan designed to achieve goals and objectives.

Elevator Pitch: -Elevator pitch is a format of presenting a business plan. It is basically a three minute summary of the business plan which is used as a teaser to awaken the interest of the potential investors, customers or strategic partners.

Revision Test Physical Education (Planning In Sports)

Date : 01.April.2020
Sub  : Physical Education 
Day  : 4
Time : 12:20pm- 1pm
Period : 7
CLASS : 12

Learning Outcomes

• Revision of the chapter
• Get to know the students who need more help
• Get students to revise the chapter on a daily basis

A very good morning students

Thankyou for logging in

Hope the notes and worksheets i have been sending on my blog are proving to be useful for you.


Let us now get ready for our test


Please remember , it is not important how many marks you score but the important thing is How much you know.


Please do your test with utmost honesty


It will help you in the long run for the preperation of your examination




Please find below the link to get access to your class test



https://docs.google.com/forms/d/e/1FAIpQLSfcnHFP_oonaSke0R9SSxWN04OmEnq90IguBBCfn9uq4UwdrA/viewform

Industry during the 5 year Plans

Date : 30.4.2020
Sub  : Economics
Class : 12
Day   : 3
Period : 5
Time    : 10:45am -11:25am

Learning Outcomes

• Importance of Industry
• Stratergy of Industrial Development
• Expansion of Public Sector
• Strict regulation of Private sector
• Policy of protection
• Development of Small Scale Industries

 A very good morning students

Thankyou for logging in

Today we will be learning about the State of Industry during the Planning Period

During the Planning period there only two well managed industries :

Iron and Steel Industries in Jamshedpur and Kolkata

Let us look at the Importance of Industry:

• An Industry provides a more stable source of Employment---- This is more stable than agricuture. when workforce is shifted from less productive occupation(agriculture) to more productive occupation( industry), this will add to the national output.Increase in National Output will create more employment oppurtunities.

• Promotes Modernisation : Agriculture is the backbone of the Indian economy.Most of the requirements in Agriculture are met by Industries.Agriculture requires improved farm machinery and tools eg tractors, harvesters, pumping sets, tube-wells,etc.

• Rapid and long term growth was possible through the development of industriesas productivity of labour is higher in the manufacturing sector

• Industrialisation induces development in other sectors

Stratergy of Industrial Development

1. Expansion of Public Sector: Public sector can help in reducing inequality in the distribution of income and wealth because profits of Public sector can be distributed among a large number of individuals.

---Economic development requires the growth of basic key industries  ie industries vital for the development of other industries.Large investment was needed in in basic and key industries and in infrastructure.Since, these areas were beyond the capacity of the Private sector, Public sector was assigned to undertake this role.

--Private sector would not be interested in the development of the backward areas.The Public enterprises can be established in these areas to have a balanced development of the country.

2. Strict Regulation of Private Sector : Under INDUSTRIAL DEVELOPMENT AND REGULATION ACT 1951 , new industry could not be established without obtaining necessary license and getting itself registered,

3 Policy Protection : The government protected the domestic industry fro foreign competetion.

--rotection took place in the form of Tarrifs and Quotas. Tariffs are a tax on imported goods which make them costlier. Quatas specify the macimum quantity of imported goods. Tariffs and quotas together discourage and restrict imports and therefore, protect domestic industry from foreign competition.

4. Development of Small scale industries: In 1955, the Karve committee ( also called Village and small scale industries committee ) realised the importance of small scale industries for promoting rural development. A small scale industry is defined on the basis of msximum investment limit. This investment limit has changed over a period of time. In 1950, small scale industrial unit was one which investments a maximum of rupees five lakh . Presently the maximum investment allowed is Rs 5 crore.

Pleae go through the video link below to understand the topic better

https://www.youtube.com/watch?v=_Sf2x3gaJbo

your assignment is to make notes in your copies

Obesity: Procedure, Benefits and Conraindications

Date : 30.April.2020
Sub  : Physical Education 
Day  : 3
Time : 8:20am -9am
Period : 2
CLASS : 12

Learning Outcomes

• Asanas for controlling Obesity
• Calculation of BMI
• Meaning of Obesity
• Procedure,Benefits and Contraindications of the asanas.

A very good morning students.

Thank you for logging in

Yesterdat we had learnt the Benefits of Asanas for prevention of diseases

Today we will continue from where we had left.

We will be learning the Asanas for prevention of Obesity

Obesity :  -" Obesity is that condition of the body in which the amount of fat increases to                                   extreme  levels".

                  - It can also be defined as "the condition when an individual weighs 20% more than                       the ideal weight."

                   - An adult with a BMI  more than or equal to 30 than the ideal BMI  is usually                                 considered to be obese

                    - C onsidering the number of health risks associated with Obesity , it has been                                declared as a Diseases.

Obesity can be prevented as well as cured if the following asanas are performed regularly.

Sending you notes from the chapter. Please go through them 

We will now go through the video link given to you yesterday.
We shall start watching it from 6 minutes onwards.
The explanation of all the asanas have been given very well.
Please read through the text book pages and then watch the video.


Sending you the same video link i had sent yesterday


https://www.youtube.com/watch?v=Byq2XN7n4SY


Your assignment
1. Write the definition of Obesity
2. What is the procedure of performing Vajraasana? Write two benefits and contraindinations of the asanas
3.What is the procedure of performing Pada Hastasana? Write two benefits and contraindinations of the asanas
4.What is the procedure of performing Trikonasana? Write two benefits and contraindinations of the asanas
5.What is the procedure of performing Ardhmatseyendrasana? Write two benefits and contraindinations of the asanas

Census and Sample method of collection of Data

Date : 30.4.2020
Sub  : Economics
Class : 11
Day   : 3
Period : 7
Time   : 12.20 pm to 01.00 pm

Learning Outcomes

• Meaning of Census Method
• Meaning of Sampling Method
• Difference betwee Census and Sampling Method

A very good morning students

Thank you for logging in

Congratulations to the boys who took my last class revision test

I am very happy that you took your test very honestly.

Today we are going to start our 3rd chapter in Statistics ( Census and Sampling)

In my blog i will be giving you notes for the definition of both Census and Sampling and the difference between both Census and Sampling.

You are required to copy them in your copies and learn them for your examination

Please go through my notes given below

In Statistics universe or population simply refers to an aggregate of items to be studied for an investigation. 

In Statistics, the term population means the aggregate of all items about which we want to obtain information. Eg; there are 2000 students in a particular college. If an investigation relates to all 2000 students, then , 2000 would be taken as universe or population. Each unit of these 2000 is called Item.

CENSUS METHOD

Census method is that method in which data are collected covering every item of the universe or population relating to the problem under investigation. 

Eg If we want to know the population of India the government will have to have a census , where each and every individual in the country will have to be taken into consideration.

Census of India 2011 reveals that in term of size of population. India is the 2nd largest country in the world next to china. 

SAMPLE METHOD

Sample method is that method in which data is collected about the sample on a group of items taken from the population for an examination and conclusions are drawn on their bases .

Eg - From the population of India we want to know the number of males below the age of 40. This is called a Sample of the population

DIFFERENCE BETWEEN CENSUS AND SAMPLING METHODS

S.NO	BASIS	CENSUS METHOD	SAMPLING METHOD
1	Information	In this method, each and every unit of the universe is studied	In this method, only few units of the universe are selected and studied
2	Conclusion	Conclusion are drawn on the basis of whole universe	Conclusion are drawn on the basis of a Sample
3	Accuracy	High degree of accuracy is obtained	High degree of accuracy is not obtained
4	Time and Money	It is both time and money consuming. So it is costly method.	It is economical, as it saves both time and money
5	Suitability	Method is more suitable where scope of investigation is limited.	Method is more suitable where the area of enquiry is wide
6	Number of Enumerators	Requires a large number of enumerators	Sample can be taken out by quite smaller number of enumerators
7	Nature  of Items	Suitable where all items of universe are not homogeneous ( not same )	Is not suitable where units of the universe are heterogeneous (different )

Your assignment

Please learn the definition of both Census and Sample and also their differences.

Revision class test ( Collection of Data )

Date : 29.April.2020 
Sub  : Entrepreneurship
Day  : 2
Time : 8:20am -9am
Period : 2 
Class    : 11

Learning Outcomes

• Revision of the chapter
• Get to know the students who need more help
• Get students to revise the chapter on a daily basis

A very good morning students

Thankyou for logging in

Hope the notes and worksheets i have been sending on my blog are proving to be useful for you.

Sending you the answers for yesterday's  MCQ'S


Page 1
1(c),  2(d),  3(c), 4(d),  5(c),   6(b),   7(a)

Page 2
1(a),  2(a),   3(c)   4(c) ,   5(d)





Let us now get ready for our test


Please remember , it is not important how many marks you score but the important thing is How much you know.


Please do your test with utmost honesty


It will help you in the long run for the preperation of your examination



Please find below the link to get access to your class test



https://docs.google.com/forms/d/e/1FAIpQLSfkWvoxahiwNfXxVxu0JBgwoy-O8sfurGFgeSh8BjRAMbKYJg/viewform

Revision Test on Chapter 1 (Entrepreneurial Oppurtunities)

Date : 29.April.2020 
Sub  : Entrepreneurship
Day  : 2
Time : 10am - 10:45am and 12:20pm -1pm
Period : 4 and 7 
Class    : 12

Learning Outcomes

• Revision of the chapter
• Get to know the students who need more help
• Get students to revise the chapter on a daily basis

A very good morning students

Thankyou for logging in

Hope the notes and worksheets i have been sending on my blog are proving to be useful for you.

Let us now get ready for our test

Please remember , it is not important how many marks you score but the important thing is How much you know.

Please do your test with utmost honesty

It will help you in the long run for the preperation of your examination

Please find below the link to get access to your class test

https://docs.google.com/forms/d/e/1FAIpQLScKqO2QtbmZeG3ROVzDKP7FfeCInzFJ2SqkiSh5VTmFjjSKug/viewform

Once you have finished the test .Let us shift our focus to the 7th period

Sending you notes for Entrepreneurial Oppurtunities for you to prepare better for the next time

SENSING ENTREPRENEURIAL OPPORTUNITIES

1.     Who is an entrepreneur?

Basically an entrepreneur is an innovator, job and wealth generator.In addition to the above he is also

• Change agent
• Problem solver
• Pace setter
• Excellence seeker
• Marketing executive
• Concept promoter

2.     List the key functions of an entrepreneur.

In order to be an entrepreneur, the individual performs various functions. Among the various functions performed, the following functions, also known as entrepreneurial functions, are specifically considered as the characteristics of an entrepreneur.

• Sensing an entrepreneurial opportunity.
• Converting ideas into Reality.
• Developing the business plan.
• Resourcing
• Establishing an enterprise.
• Managing the enterprise
• Growth and development.

All these functions are known as entrepreneurial functions. The success and the quality of the output of the performance of the entrepreneur depends on how well he performs these functions. Therefore these functions performed describe the intensity for the relationship for the entrepreneur with the enterprise. For this reason, we can say that the relationship between the entrepreneur and entrepreneurship can be described as that between the body and the soul.

1.                 How do entrepreneurs differ from employers?

Employee: Employed under some one and works for them to earn their income, for living.

Entrepreneur: Work for themselves and own their business/venture. They take complete accountability of the business and consider themselves responsible for the success or failure of their enterprise.

2.                 When does a problem become an opportunity?

A problem becomes an opportunity when it is considered as a challenge to solve leading to an economically viable solution.

3.                 How are entrepreneurs different from others in perceiving an opportunity?

Entrepreneurs are different from other in perceiving an opportunity in the following ways:

• They are quick in perceiving the opportunity.
• They will be able to collate the available information.
• They will be able to analyze the patterns which are not usually ignored by others.

4.                 What are the two basic roles of an entrepreneur?

The two basic roles of an entrepreneur are:

• Opportunity spotter
• Project champion

5.           What is meant by ‘Sensing Entrepreneurial Opportunities’? Explain the important factors involved with suitable examples.

Sensing entrepreneurial opportunities: It is a process ofperceiving the opportunities from the problems and needs of people and society (quickly)or create or craft business opportunities (by innovating new products/services that are not already in existence)synthesize the available informationanalyze the pattern emerging out of this informationarrive at creative solutions to meet the needs or resolve the problems.

The following factors play a key role in sensing of entrepreneurial opportunities.

Ability to perceive and preserve basic ideas.

The following are the various sources which lead to the emergence of basic ideas.

Problems: When a problem exists and an idea leads to a solution to resolve that problem, it emerges as a business opportunity.

Change: A change in social, legal, technological aspects etc. leads to new opportunities to start a business.

Inventions: Invention of new products or services leads to new business opportunities.

Competition: Competetion often results in emergence of new and better ideas that result in new business opportunities.

Various sources like magazines, journals, books, seminars, trade shows, family members, customers, friends etc help in getting information that helps in evolution of basic ideas.

Bring together various sources of information and knowledge, and analyze it to the best possible extent. The analysis helps in the identification of the right opportunity to start a new business.

Creativity in innovating a solution and vision. The entrepreneur should be able to creatively identify an idea to generate a valuable solution to a problem. Once the solution is identified their vision to convert the solution into business opportunity help them to move forward, overcoming all the obstacles. They constantlyovercome the adversitywill be able to exercise control over the businesswill be capable of making significant difference.

6.    What are the major categories of entrepreneurial ideas? Discuss them with an example each from your observations and reading.

The (sources of) entrepreneurial ideas can be majorly classified under the following four categories.

Problems: Most often an innovative solution to a problem leads to an entrepreneurial business opportunity. Cable telephones were a major limitation interms of mobility. They were always confined to a limited area and communication was very limited. This lead to the research for mobile and wireless technology that lead to the emergence of cell phones.

Change: A change in either

• Social
• Legal or
• Technological

will lead to new business opportunities.

The social change has lead to a change in the fashion technologies. For example the evolution of the Jeans and T-Shirt market to dominate conventional formal dresses is best example. Another major example is a development in cooking technology that is slowly replacing the cooking gas stoves with induction cooking devices.

Inventions: Creation of new products or services that have values falls under this category. It can also be innovative improvements to an existng product or service. A change from conventional key pad operated mobile phones to the modern smart phones is an example of invention.

Competition: To dominate the market and to overcome the competition from the competitors, entrepreneurs rely on new and improved ideas. Inclusion of the smart technology in the television where in the hand movements are recognized by television to operate it and to play games is a best example. The 3D television market emerging is also an example where in new and improved ideas are included into the products to beat the competition.