components of business plan class 12 entrepreneurship

Entrepreneurship Project Business Plan- CBSE Class 12

Table of Contents

ACKNOWLEDGMENT

Many people helped me through their support and guidance for the successful completion of this project.

First of all, I thank the Almighty God for his goodness and mercy in giving me the strength to complete this project.

I, at this moment, express my abundant and sincere gratitude to Mrs. SANILA MANOJ, Department of Commerce, Dr. GR PS, XTZ for her valuable guidance, constant encouragement, and creative suggestions rendered during this project.

I thank SISTER XTZ (Managing Trustee) Mrs. XYZ (Senior Principal) Mr. XYZ (Principal) for providing me with all facilities and also for the constant inspiration and encouragement for successful completion of this project.

I offer my deepest gratitude to my family members, whose prayers and blessings guided me for the successful completion of this project. I also owe my gratitude to my classmates, whose support was inevitable for the completion of the project.

INTRODUCTION

A business plan is a written description of the business further. That means a document that describes what plan to do and how to do it. Business plan com perform several tasks for those who write & read them. They are used by investment seeking entrepreneurs to convey their vision to potential investors. They may also be used by firms that are trying to attract key employees, the prospect for new business deals with suppliers, or simply to understand how to manage their companies cutter.

• To provide clarity of thought & purpose.
• To introduce the business models.
• To present examples, step by step explanation of the business plan.
• To define what the business plan is and who prepares it.
• To understand the scope and the value of the business

NEED AND SIGNIFICANCE

• It gives direction to the vision formulated by the entrepreneurs.
• To monitor the progress after implementing business plans.
• To persuade others to join the business.
• To seek loans from financial institutions.
• To identify the actual strength and weaknesses of the plan.

EXECUTIVE SUMMARY

“ELVAGO CANTINA” believes in its unique delivery to service as its policy is “Consumer is king’ It’s traditional, as well as members outlook gives you the feeling as if you are the members of its family.

Though we are now the love and taste in our foods will be abundant.

The location is just a half kilometer from the bus bay situated at the heart of Cobin city. It provides great facilities provided with first-class infrastructural facilities.

ABOUT THE COMPANY

“ELVAGO CANTINA’ is a first-class startup company with very good infrastructure. This company believes she is securing the society by organizing social activities such as entertainment programs for the Physically Challenged or differently-abled children.

It also has the policy to donate a part of income to various and all spread old age homes around the Rochi city also.

In the present situation, ‘ELVAGO’ consists of about too many employers overall.

There are about employees and so on the executive staff members. It is situated in the less bay in Vytilla in the heart of Kochi City.

ELVAGO CANTINA

‘ELVAGO CANTINA’ is something a place where the variety of goods are sold to the customers. The statement motivates us to go to the restaurant business in India. We have suggested this because there is no branded restaurant until now. The tag line for ELVAGO CANTINA is

” TASTY; BUT CHEAPER”

To become the most preferred restaurant among the people by treating the people in the way they like to be treated.

For every business, location plays a vital role. The success and the future of the company depend on that place from the selling of the product and availability of the required raw materials at least cost. The location of our restaurant is in the heart of Kochi, i.e., Vytilla.

BUSINESS OBJECTIVES

• To establish a working store for the restaurant.
• To provide the true flavor of India at reasonable costs.
• To understand the taste of the customers.
• To balance our business goal with one financial objective.
• To provide the best quality food to the customers.

MANAGEMENT SUMMARY

The initial summary of management depends on the founders, and there are various another working inside the company. As we grow, we will take an additional held in certain key areas.

At present, the ELVAGO CANTINA has two founders, Head offices, Eco, Sheffs, Managers, Waiting staff, etc.

The restaurant aims to be a stone in the community creating a neighborhood atmosphere where the customers feel safe and comfortable.

We target all the age groups of people from small children to teenagers and adults to the old aged people also. Our company’s culture is to satisfy in every way all the customs stepping into ‘ELVAGO’ especially with our special mems including:

• Muttons Biryani
• Elvago’s Special Biriyani
• Vegetable Biryani.
• Egg Biryani
• Elvago’s Special Fried Rice
• Green Chicken Rice.
• Chicken Chops
• Elvago’s Special Butter Chicken
• Elvago’s Special Chicken Curry.

MARKET & COMPETITION

We are the startup company and are looking forward to earning a good share of the market. The other important things are customer satisfaction. The competitions are common in every society between Various enterprises

Our competitors are: –

Pai Brothers.

Sardarji ka Dhabha.

INFRASTRUCTURE

ELVAGO CANTINA provides great infrastructural facilities. Over 45 seats and family rooms are provided with a good air conditioning system. The infrastructure in our restaurant is very attractive. The restaurant has mainly two floors for the customers.

PHYSICAL PLANT

Area: – The piece of land which is required to organize the whole set up is about 1,600 sq. feet

MACHINERY AND EQUIPMENT

• Refrigerators

FINANCIAL RESOURCES

It is SBA’s most basic and common loan program. These loans are mostly available through various commercial institutions, and most American banks participate as lenders in this program. Lenders typically grand loans up to £ 2,00,000.

FRIENDS & FAMILIES

Friends and family members might be the most lenient member of the ELVAGO CANTINA launch. They don’t tend to make you pledge your house and may even agree to sell their interest in your company back to you for a nominal return.

PERSONNEL PLAN

The personnel plan is based on operating 24/7 hrs and falls in with how EAVAGO CANTINA operates throughout the week.

Any additional price will be part-time & devoted to expansion on any catering functions, as well as increased capacity of private party function.

The enterprise currently has 100 employees. There are about 100 employees & 30 executive staff.

MARKET STRATEGY

Our strategy is based on serving our markets well. The concentration will be on providing fresh & quality good items.

A combination of local media & local store marketing programs will be utilized at each location. By providing a fun & entertaining environment with high-quality goods (foods at a reasonable rate, we will be coming shortly on top of the town.

UNIQUE SELLING PROPORTION

There are many restaurants in India. What gives a competitive advantage to the product of “ELVAGO CANTINA” is that it produces good and quality food. When compared to other restaurants, what makes us special is that we have many varieties of foods. The other restaurants charge a very high price in their foods; we charge only a reasonable price.

By analyzing the product,

• I could easily find the customer’s taste and preferences in the area.
• It could also analyze the price of Various products.
• By writing a business plan, it is necessary to know about the starling of a business enterprise.

CONCLUSIONS

A Business plan is an important document that is essential for every business firm. This is valuable not only for the entrepreneurs but also for all the stakeholders who access the firm directly or indirectly. There are various components of a business plan which is prepared to depend upon the entrepreneur’s enterprise and knowledge.

CERTIFICATE

This is to certify that the project is an authentic record of the work done by ROHITH S. BOBBY , class XII.D during 2017-2018 towards the partial fulfillment of the AISSCE course prescribed by the Central Board of Secondary Education (CBSE). The student has done the project with his/her effort & with the guidance of a concerned teacher.

Teacher In-charge

External Examiner

DECLARATION

I, XYZ do at this moment declare that the project entitled “BUSINESS PLAN” is a bonafide record of the project work done by me and was under the guidance of Mrs. SANILA MANOJ, also declare this project or any part of it has not been submitted by me fully or partially for any other examination before.

BIBLIOGRAPHY

• NCERT textbook (Class XII) –
• [email protected]

In order to download the PDF, You must follow on Youtube. Once done, Click on Submit

Subscribed? Click on Confirm

Download Entrepreneurship Project Business Plan- CBSE Class 12 PDF

Related articles.

Social Science Project Topics For Class 10 CBSE

Solar Vacuum Cleaner & Floor Cleaner Robot Project

Cam Shaft Mechanism DIY Ventilator Project

Android Hostel Management System

Leave a reply cancel reply.

Your email address will not be published. Required fields are marked *

Notify me of follow-up comments by email.

Please Enable JavaScript in your Browser to Visit this Site.

• 11.4 The Business Plan
• Introduction
• 1.1 Entrepreneurship Today
• 1.2 Entrepreneurial Vision and Goals
• 1.3 The Entrepreneurial Mindset
• Review Questions
• Discussion Questions
• Case Questions
• Suggested Resources
• 2.1 Overview of the Entrepreneurial Journey
• 2.2 The Process of Becoming an Entrepreneur
• 2.3 Entrepreneurial Pathways
• 2.4 Frameworks to Inform Your Entrepreneurial Path
• 3.1 Ethical and Legal Issues in Entrepreneurship
• 3.2 Corporate Social Responsibility and Social Entrepreneurship
• 3.3 Developing a Workplace Culture of Ethical Excellence and Accountability
• 4.1 Tools for Creativity and Innovation
• 4.2 Creativity, Innovation, and Invention: How They Differ
• 4.3 Developing Ideas, Innovations, and Inventions
• 5.1 Entrepreneurial Opportunity
• 5.2 Researching Potential Business Opportunities
• 5.3 Competitive Analysis
• 6.1 Problem Solving to Find Entrepreneurial Solutions
• 6.2 Creative Problem-Solving Process
• 6.3 Design Thinking
• 6.4 Lean Processes
• 7.1 Clarifying Your Vision, Mission, and Goals
• 7.2 Sharing Your Entrepreneurial Story
• 7.3 Developing Pitches for Various Audiences and Goals
• 7.4 Protecting Your Idea and Polishing the Pitch through Feedback
• 7.5 Reality Check: Contests and Competitions
• 8.1 Entrepreneurial Marketing and the Marketing Mix
• 8.2 Market Research, Market Opportunity Recognition, and Target Market
• 8.3 Marketing Techniques and Tools for Entrepreneurs
• 8.4 Entrepreneurial Branding
• 8.5 Marketing Strategy and the Marketing Plan
• 8.6 Sales and Customer Service
• 9.1 Overview of Entrepreneurial Finance and Accounting Strategies
• 9.2 Special Funding Strategies
• 9.3 Accounting Basics for Entrepreneurs
• 9.4 Developing Startup Financial Statements and Projections
• 10.1 Launching the Imperfect Business: Lean Startup
• 10.2 Why Early Failure Can Lead to Success Later
• 10.3 The Challenging Truth about Business Ownership
• 10.4 Managing, Following, and Adjusting the Initial Plan
• 10.5 Growth: Signs, Pains, and Cautions
• 11.1 Avoiding the “Field of Dreams” Approach
• 11.2 Designing the Business Model
• 11.3 Conducting a Feasibility Analysis
• 12.1 Building and Connecting to Networks
• 12.2 Building the Entrepreneurial Dream Team
• 12.3 Designing a Startup Operational Plan
• 13.1 Business Structures: Overview of Legal and Tax Considerations
• 13.2 Corporations
• 13.3 Partnerships and Joint Ventures
• 13.4 Limited Liability Companies
• 13.5 Sole Proprietorships
• 13.6 Additional Considerations: Capital Acquisition, Business Domicile, and Technology
• 13.7 Mitigating and Managing Risks
• 14.1 Types of Resources
• 14.2 Using the PEST Framework to Assess Resource Needs
• 14.3 Managing Resources over the Venture Life Cycle
• 15.1 Launching Your Venture
• 15.2 Making Difficult Business Decisions in Response to Challenges
• 15.3 Seeking Help or Support
• 15.4 Now What? Serving as a Mentor, Consultant, or Champion
• 15.5 Reflections: Documenting the Journey
• A | Suggested Resources

Learning Objectives

By the end of this section, you will be able to:

• Describe the different purposes of a business plan
• Describe and develop the components of a brief business plan
• Describe and develop the components of a full business plan

Unlike the brief or lean formats introduced so far, the business plan is a formal document used for the long-range planning of a company’s operation. It typically includes background information, financial information, and a summary of the business. Investors nearly always request a formal business plan because it is an integral part of their evaluation of whether to invest in a company. Although nothing in business is permanent, a business plan typically has components that are more “set in stone” than a business model canvas , which is more commonly used as a first step in the planning process and throughout the early stages of a nascent business. A business plan is likely to describe the business and industry, market strategies, sales potential, and competitive analysis, as well as the company’s long-term goals and objectives. An in-depth formal business plan would follow at later stages after various iterations to business model canvases. The business plan usually projects financial data over a three-year period and is typically required by banks or other investors to secure funding. The business plan is a roadmap for the company to follow over multiple years.

Some entrepreneurs prefer to use the canvas process instead of the business plan, whereas others use a shorter version of the business plan, submitting it to investors after several iterations. There are also entrepreneurs who use the business plan earlier in the entrepreneurial process, either preceding or concurrently with a canvas. For instance, Chris Guillebeau has a one-page business plan template in his book The $100 Startup . 48 His version is basically an extension of a napkin sketch without the detail of a full business plan. As you progress, you can also consider a brief business plan (about two pages)—if you want to support a rapid business launch—and/or a standard business plan.

As with many aspects of entrepreneurship, there are no clear hard and fast rules to achieving entrepreneurial success. You may encounter different people who want different things (canvas, summary, full business plan), and you also have flexibility in following whatever tool works best for you. Like the canvas, the various versions of the business plan are tools that will aid you in your entrepreneurial endeavor.

Business Plan Overview

Most business plans have several distinct sections ( Figure 11.16 ). The business plan can range from a few pages to twenty-five pages or more, depending on the purpose and the intended audience. For our discussion, we’ll describe a brief business plan and a standard business plan. If you are able to successfully design a business model canvas, then you will have the structure for developing a clear business plan that you can submit for financial consideration.

Both types of business plans aim at providing a picture and roadmap to follow from conception to creation. If you opt for the brief business plan, you will focus primarily on articulating a big-picture overview of your business concept.

The full business plan is aimed at executing the vision concept, dealing with the proverbial devil in the details. Developing a full business plan will assist those of you who need a more detailed and structured roadmap, or those of you with little to no background in business. The business planning process includes the business model, a feasibility analysis, and a full business plan, which we will discuss later in this section. Next, we explore how a business plan can meet several different needs.

Purposes of a Business Plan

A business plan can serve many different purposes—some internal, others external. As we discussed previously, you can use a business plan as an internal early planning device, an extension of a napkin sketch, and as a follow-up to one of the canvas tools. A business plan can be an organizational roadmap , that is, an internal planning tool and working plan that you can apply to your business in order to reach your desired goals over the course of several years. The business plan should be written by the owners of the venture, since it forces a firsthand examination of the business operations and allows them to focus on areas that need improvement.

Refer to the business venture throughout the document. Generally speaking, a business plan should not be written in the first person.

A major external purpose for the business plan is as an investment tool that outlines financial projections, becoming a document designed to attract investors. In many instances, a business plan can complement a formal investor’s pitch. In this context, the business plan is a presentation plan, intended for an outside audience that may or may not be familiar with your industry, your business, and your competitors.

You can also use your business plan as a contingency plan by outlining some “what-if” scenarios and exploring how you might respond if these scenarios unfold. Pretty Young Professional launched in November 2010 as an online resource to guide an emerging generation of female leaders. The site focused on recent female college graduates and current students searching for professional roles and those in their first professional roles. It was founded by four friends who were coworkers at the global consultancy firm McKinsey. But after positions and equity were decided among them, fundamental differences of opinion about the direction of the business emerged between two factions, according to the cofounder and former CEO Kathryn Minshew . “I think, naively, we assumed that if we kicked the can down the road on some of those things, we’d be able to sort them out,” Minshew said. Minshew went on to found a different professional site, The Muse , and took much of the editorial team of Pretty Young Professional with her. 49 Whereas greater planning potentially could have prevented the early demise of Pretty Young Professional, a change in planning led to overnight success for Joshua Esnard and The Cut Buddy team. Esnard invented and patented the plastic hair template that he was selling online out of his Fort Lauderdale garage while working a full-time job at Broward College and running a side business. Esnard had hundreds of boxes of Cut Buddies sitting in his home when he changed his marketing plan to enlist companies specializing in making videos go viral. It worked so well that a promotional video for the product garnered 8 million views in hours. The Cut Buddy sold over 4,000 products in a few hours when Esnard only had hundreds remaining. Demand greatly exceeded his supply, so Esnard had to scramble to increase manufacturing and offered customers two-for-one deals to make up for delays. This led to selling 55,000 units, generating $700,000 in sales in 2017. 50 After appearing on Shark Tank and landing a deal with Daymond John that gave the “shark” a 20-percent equity stake in return for $300,000, The Cut Buddy has added new distribution channels to include retail sales along with online commerce. Changing one aspect of a business plan—the marketing plan—yielded success for The Cut Buddy.

Link to Learning

Watch this video of Cut Buddy’s founder, Joshua Esnard, telling his company’s story to learn more.

If you opt for the brief business plan, you will focus primarily on articulating a big-picture overview of your business concept. This version is used to interest potential investors, employees, and other stakeholders, and will include a financial summary “box,” but it must have a disclaimer, and the founder/entrepreneur may need to have the people who receive it sign a nondisclosure agreement (NDA) . The full business plan is aimed at executing the vision concept, providing supporting details, and would be required by financial institutions and others as they formally become stakeholders in the venture. Both are aimed at providing a picture and roadmap to go from conception to creation.

Types of Business Plans

The brief business plan is similar to an extended executive summary from the full business plan. This concise document provides a broad overview of your entrepreneurial concept, your team members, how and why you will execute on your plans, and why you are the ones to do so. You can think of a brief business plan as a scene setter or—since we began this chapter with a film reference—as a trailer to the full movie. The brief business plan is the commercial equivalent to a trailer for Field of Dreams , whereas the full plan is the full-length movie equivalent.

Brief Business Plan or Executive Summary

As the name implies, the brief business plan or executive summary summarizes key elements of the entire business plan, such as the business concept, financial features, and current business position. The executive summary version of the business plan is your opportunity to broadly articulate the overall concept and vision of the company for yourself, for prospective investors, and for current and future employees.

A typical executive summary is generally no longer than a page, but because the brief business plan is essentially an extended executive summary, the executive summary section is vital. This is the “ask” to an investor. You should begin by clearly stating what you are asking for in the summary.

In the business concept phase, you’ll describe the business, its product, and its markets. Describe the customer segment it serves and why your company will hold a competitive advantage. This section may align roughly with the customer segments and value-proposition segments of a canvas.

Next, highlight the important financial features, including sales, profits, cash flows, and return on investment. Like the financial portion of a feasibility analysis, the financial analysis component of a business plan may typically include items like a twelve-month profit and loss projection, a three- or four-year profit and loss projection, a cash-flow projection, a projected balance sheet, and a breakeven calculation. You can explore a feasibility study and financial projections in more depth in the formal business plan. Here, you want to focus on the big picture of your numbers and what they mean.

The current business position section can furnish relevant information about you and your team members and the company at large. This is your opportunity to tell the story of how you formed the company, to describe its legal status (form of operation), and to list the principal players. In one part of the extended executive summary, you can cover your reasons for starting the business: Here is an opportunity to clearly define the needs you think you can meet and perhaps get into the pains and gains of customers. You also can provide a summary of the overall strategic direction in which you intend to take the company. Describe the company’s mission, vision, goals and objectives, overall business model, and value proposition.

Rice University’s Student Business Plan Competition, one of the largest and overall best-regarded graduate school business-plan competitions (see Telling Your Entrepreneurial Story and Pitching the Idea ), requires an executive summary of up to five pages to apply. 51 , 52 Its suggested sections are shown in Table 11.2 .

Are You Ready?

Create a brief business plan.

Fill out a canvas of your choosing for a well-known startup: Uber, Netflix, Dropbox, Etsy, Airbnb, Bird/Lime, Warby Parker, or any of the companies featured throughout this chapter or one of your choice. Then create a brief business plan for that business. See if you can find a version of the company’s actual executive summary, business plan, or canvas. Compare and contrast your vision with what the company has articulated.

• These companies are well established but is there a component of what you charted that you would advise the company to change to ensure future viability?
• Map out a contingency plan for a “what-if” scenario if one key aspect of the company or the environment it operates in were drastically is altered?

Full Business Plan

Even full business plans can vary in length, scale, and scope. Rice University sets a ten-page cap on business plans submitted for the full competition. The IndUS Entrepreneurs , one of the largest global networks of entrepreneurs, also holds business plan competitions for students through its Tie Young Entrepreneurs program. In contrast, business plans submitted for that competition can usually be up to twenty-five pages. These are just two examples. Some components may differ slightly; common elements are typically found in a formal business plan outline. The next section will provide sample components of a full business plan for a fictional business.

Executive Summary

The executive summary should provide an overview of your business with key points and issues. Because the summary is intended to summarize the entire document, it is most helpful to write this section last, even though it comes first in sequence. The writing in this section should be especially concise. Readers should be able to understand your needs and capabilities at first glance. The section should tell the reader what you want and your “ask” should be explicitly stated in the summary.

Describe your business, its product or service, and the intended customers. Explain what will be sold, who it will be sold to, and what competitive advantages the business has. Table 11.3 shows a sample executive summary for the fictional company La Vida Lola.

Business Description

This section describes the industry, your product, and the business and success factors. It should provide a current outlook as well as future trends and developments. You also should address your company’s mission, vision, goals, and objectives. Summarize your overall strategic direction, your reasons for starting the business, a description of your products and services, your business model, and your company’s value proposition. Consider including the Standard Industrial Classification/North American Industry Classification System (SIC/NAICS) code to specify the industry and insure correct identification. The industry extends beyond where the business is located and operates, and should include national and global dynamics. Table 11.4 shows a sample business description for La Vida Lola.

Industry Analysis and Market Strategies

Here you should define your market in terms of size, structure, growth prospects, trends, and sales potential. You’ll want to include your TAM and forecast the SAM . (Both these terms are discussed in Conducting a Feasibility Analysis .) This is a place to address market segmentation strategies by geography, customer attributes, or product orientation. Describe your positioning relative to your competitors’ in terms of pricing, distribution, promotion plan, and sales potential. Table 11.5 shows an example industry analysis and market strategy for La Vida Lola.

Competitive Analysis

The competitive analysis is a statement of the business strategy as it relates to the competition. You want to be able to identify who are your major competitors and assess what are their market shares, markets served, strategies employed, and expected response to entry? You likely want to conduct a classic SWOT analysis (Strengths Weaknesses Opportunities Threats) and complete a competitive-strength grid or competitive matrix. Outline your company’s competitive strengths relative to those of the competition in regard to product, distribution, pricing, promotion, and advertising. What are your company’s competitive advantages and their likely impacts on its success? The key is to construct it properly for the relevant features/benefits (by weight, according to customers) and how the startup compares to incumbents. The competitive matrix should show clearly how and why the startup has a clear (if not currently measurable) competitive advantage. Some common features in the example include price, benefits, quality, type of features, locations, and distribution/sales. Sample templates are shown in Figure 11.17 and Figure 11.18 . A competitive analysis helps you create a marketing strategy that will identify assets or skills that your competitors are lacking so you can plan to fill those gaps, giving you a distinct competitive advantage. When creating a competitor analysis, it is important to focus on the key features and elements that matter to customers, rather than focusing too heavily on the entrepreneur’s idea and desires.

Operations and Management Plan

In this section, outline how you will manage your company. Describe its organizational structure. Here you can address the form of ownership and, if warranted, include an organizational chart/structure. Highlight the backgrounds, experiences, qualifications, areas of expertise, and roles of members of the management team. This is also the place to mention any other stakeholders, such as a board of directors or advisory board(s), and their relevant relationship to the founder, experience and value to help make the venture successful, and professional service firms providing management support, such as accounting services and legal counsel.

Table 11.6 shows a sample operations and management plan for La Vida Lola.

Marketing Plan

Here you should outline and describe an effective overall marketing strategy for your venture, providing details regarding pricing, promotion, advertising, distribution, media usage, public relations, and a digital presence. Fully describe your sales management plan and the composition of your sales force, along with a comprehensive and detailed budget for the marketing plan. Table 11.7 shows a sample marketing plan for La Vida Lola.

Financial Plan

A financial plan seeks to forecast revenue and expenses; project a financial narrative; and estimate project costs, valuations, and cash flow projections. This section should present an accurate, realistic, and achievable financial plan for your venture (see Entrepreneurial Finance and Accounting for detailed discussions about conducting these projections). Include sales forecasts and income projections, pro forma financial statements ( Building the Entrepreneurial Dream Team , a breakeven analysis, and a capital budget. Identify your possible sources of financing (discussed in Conducting a Feasibility Analysis ). Figure 11.19 shows a template of cash-flow needs for La Vida Lola.

Entrepreneur In Action

Laughing man coffee.

Hugh Jackman ( Figure 11.20 ) may best be known for portraying a comic-book superhero who used his mutant abilities to protect the world from villains. But the Wolverine actor is also working to make the planet a better place for real, not through adamantium claws but through social entrepreneurship.

A love of java jolted Jackman into action in 2009, when he traveled to Ethiopia with a Christian humanitarian group to shoot a documentary about the impact of fair-trade certification on coffee growers there. He decided to launch a business and follow in the footsteps of the late Paul Newman, another famous actor turned philanthropist via food ventures.

Jackman launched Laughing Man Coffee two years later; he sold the line to Keurig in 2015. One Laughing Man Coffee café in New York continues to operate independently, investing its proceeds into charitable programs that support better housing, health, and educational initiatives within fair-trade farming communities. 55 Although the New York location is the only café, the coffee brand is still distributed, with Keurig donating an undisclosed portion of Laughing Man proceeds to those causes (whereas Jackman donates all his profits). The company initially donated its profits to World Vision, the Christian humanitarian group Jackman accompanied in 2009. In 2017, it created the Laughing Man Foundation to be more active with its money management and distribution.

• You be the entrepreneur. If you were Jackman, would you have sold the company to Keurig? Why or why not?
• Would you have started the Laughing Man Foundation?
• What else can Jackman do to aid fair-trade practices for coffee growers?

What Can You Do?

Textbooks for change.

Founded in 2014, Textbooks for Change uses a cross-compensation model, in which one customer segment pays for a product or service, and the profit from that revenue is used to provide the same product or service to another, underserved segment. Textbooks for Change partners with student organizations to collect used college textbooks, some of which are re-sold while others are donated to students in need at underserved universities across the globe. The organization has reused or recycled 250,000 textbooks, providing 220,000 students with access through seven campus partners in East Africa. This B-corp social enterprise tackles a problem and offers a solution that is directly relevant to college students like yourself. Have you observed a problem on your college campus or other campuses that is not being served properly? Could it result in a social enterprise?

Work It Out

Franchisee set out.

A franchisee of East Coast Wings, a chain with dozens of restaurants in the United States, has decided to part ways with the chain. The new store will feature the same basic sports-bar-and-restaurant concept and serve the same basic foods: chicken wings, burgers, sandwiches, and the like. The new restaurant can’t rely on the same distributors and suppliers. A new business plan is needed.

• What steps should the new restaurant take to create a new business plan?
• Should it attempt to serve the same customers? Why or why not?

This New York Times video, “An Unlikely Business Plan,” describes entrepreneurial resurgence in Detroit, Michigan.

• 48 Chris Guillebeau. The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future . New York: Crown Business/Random House, 2012.
• 49 Jonathan Chan. “What These 4 Startup Case Studies Can Teach You about Failure.” Foundr.com . July 12, 2015. https://foundr.com/4-startup-case-studies-failure/
• 50 Amy Feldman. “Inventor of the Cut Buddy Paid YouTubers to Spark Sales. He Wasn’t Ready for a Video to Go Viral.” Forbes. February 15, 2017. https://www.forbes.com/sites/forbestreptalks/2017/02/15/inventor-of-the-cut-buddy-paid-youtubers-to-spark-sales-he-wasnt-ready-for-a-video-to-go-viral/#3eb540ce798a
• 51 Jennifer Post. “National Business Plan Competitions for Entrepreneurs.” Business News Daily . August 30, 2018. https://www.businessnewsdaily.com/6902-business-plan-competitions-entrepreneurs.html
• 52 “Rice Business Plan Competition, Eligibility Criteria and How to Apply.” Rice Business Plan Competition . March 2020. https://rbpc.rice.edu/sites/g/files/bxs806/f/2020%20RBPC%20Eligibility%20Criteria%20and%20How%20to%20Apply_23Oct19.pdf
• 53 “Rice Business Plan Competition, Eligibility Criteria and How to Apply.” Rice Business Plan Competition. March 2020. https://rbpc.rice.edu/sites/g/files/bxs806/f/2020%20RBPC%20Eligibility%20Criteria%20and%20How%20to%20Apply_23Oct19.pdf; Based on 2019 RBPC Competition Rules and Format April 4–6, 2019. https://rbpc.rice.edu/sites/g/files/bxs806/f/2019-RBPC-Competition-Rules%20-Format.pdf
• 54 Foodstart. http://foodstart.com
• 55 “Hugh Jackman Journey to Starting a Social Enterprise Coffee Company.” Giving Compass. April 8, 2018. https://givingcompass.org/article/hugh-jackman-journey-to-starting-a-social-enterprise-coffee-company/

As an Amazon Associate we earn from qualifying purchases.

This book may not be used in the training of large language models or otherwise be ingested into large language models or generative AI offerings without OpenStax's permission.

Want to cite, share, or modify this book? This book uses the Creative Commons Attribution License and you must attribute OpenStax.

Access for free at https://openstax.org/books/entrepreneurship/pages/1-introduction

• Authors: Michael Laverty, Chris Littel
• Publisher/website: OpenStax
• Book title: Entrepreneurship
• Publication date: Jan 16, 2020
• Location: Houston, Texas
• Book URL: https://openstax.org/books/entrepreneurship/pages/1-introduction
• Section URL: https://openstax.org/books/entrepreneurship/pages/11-4-the-business-plan

© Jan 4, 2024 OpenStax. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution License . The OpenStax name, OpenStax logo, OpenStax book covers, OpenStax CNX name, and OpenStax CNX logo are not subject to the Creative Commons license and may not be reproduced without the prior and express written consent of Rice University.

Entrepreneurial Planning class 12 Notes (PDF) - NCERT Entrepreneurship

• Download file

Welcome to Witknowlearn, where we provide in-depth and insightful notes for Class 12 Entrepreneurship, focusing on Chapter 2 - Entrepreneurial Planning. This chapter is a crucial component of the Class 12 Entrepreneurship curriculum, offering students comprehensive knowledge about the intricacies of planning in the entrepreneurial world. Our Class 12 Entrepreneurship Chapter 2 notes are meticulously designed to cater to the needs of young entrepreneurs and students who are eager to understand the core of business planning and strategy.

In this chapter, students will dive into the realms of entrepreneurial planning for Class 12, where they'll learn about the strategic steps involved in starting and sustaining a business. The notes cover a wide range of topics from the basics of business planning to advanced strategies crucial for budding entrepreneurs. These detailed Class 12 notes on entrepreneurial planning are not just informative but also engaging, making the learning process both enjoyable and effective.

We at Witknowlearn understand the importance of having a solid foundation in entrepreneurial planning for Class 12 students. Therefore, our notes are crafted to ensure clarity and comprehensiveness, helping students grasp the essential concepts and techniques in business planning. Whether you're looking for a quick revision or a thorough study guide, our entrepreneurial planning Class 12th notes are the perfect resource.

Join us at Witknowlearn to explore the exciting world of entrepreneurship and equip yourself with the knowledge and skills required for successful business planning and strategy. Unlock your entrepreneurial potential with our expertly curated Class 12 Entrepreneurship notes today!

Entrepreneurial planning is a multifaceted process crucial for any business venture, encompassing various types of activities like manufacturing, trading, and service provision. At its core, business represents a state of being engaged and occupied, primarily with economic activities aimed at earning monetary benefits. In contrast, non-economic activities are driven by love and affection, without the intent of monetary gain.

Business enterprises can be categorized into three main forms: public sector, private sector, and joint sector. A partnership, often seen as beneficial due to the collaboration of multiple minds, is a common form of business organization. Central to entrepreneurial planning is the business plan, a comprehensive document that integrates various sub-plans from different business areas such as marketing, finance, operations, human resources, and legal aspects. This plan is typically developed by an entrepreneur with the help of experts from various fields.

The business plan encompasses several key components, including an executive summary, industrial analysis, venture description, production plan, operational plan, organizational plan, financial plan, marketing plan, and manpower plan. The executive summary is especially crucial as it concisely highlights the main points of the plan, aiming to engage potential investors.

Furthermore, the production plan focuses on efficient work planning, ensuring each step is executed at the right time and place. The operational plan, often referred to as the soul of the business plan, and the organizational plan details the venture's ownership structure. The financial plan projects the financial aspects and investment needs of the new venture, assessing its economic feasibility.

Human resource planning is vital for building a loyal and efficient workforce, while the marketing plan outlines the objectives, strategies, and activities for enterprise promotion. Starting a business also involves various formalities like obtaining a PAN number, registering the business, and complying with tax, duty, and legal requirements.

Key terms in entrepreneurial planning include economic and non-economic activities, organizational and financial plans, marketing strategies, proforma income statements, break-even analysis, target market identification, TAN (Tax Deduction and Collection Account Number), elevator pitch, production planning, and PAN (Permanent Account Number). These elements collectively form the backbone of successful entrepreneurial planning, guiding entrepreneurs through the complex process of establishing and running a business.

• Entrepreneurial planning class 12 notes
• All CBSE notes
• All ENTREPRENEURSHIP notes
• All 12 COMMERCE notes

You may like these also

NCERT Solutions for Class 7 Chapter 1 - The Tiny Teacher: Your Key to Scoring High

चिट्ठियों में यूरोप: NCERT Solutions for Class 8 Hindi Chapter 3

Fractions Class 6 - Extra Questions and Answers, Notes & MCQs

A Comprehensive Guide to Heat Class 7 Printable Notes, MCQs and Answers

Teaching resources, test generator, worksheet generator, classroom activities, customize question paper, elearning for students, practice question paper, mock test series, happy parenting, elearning for child, worksheet for child, mock test series for child, activities for development, career guidance, counselling, witknowlearn, privacy policy, terms and condition, refund/cancellation policy.

Or login with Google

Notification

Upgrade to better learning opportunities.

CBSE Class 12 Entrepreneurship Revision Notes Chapter 2 Entrepreneurial Planning

Revision notes for cbse class 12 entrepreneurship chapter 2 -free pdf download.

Free PDF download of Best CBSE Class 12 Entrepreneurship Chapter 2 Entrepreneurial Planning Quick Revision Notes & Short Key-notes prepared by our expert Entrepreneurship teachers from latest edition of CBSE(NCERT) books.

Class 12 Entrepreneurship Quick Revision notes Chapter 2 Entrepreneurial Planning

1. Entrepreneurial activities are of three major categories:  Manufacturing, trading and service providing. 2. Business  is ‘A state of being busy or occupied’. 3. Activities  undertaken to earn monetary benefits are called economic activities. 4. Activities done out  of love and affection and not to earn monetary benefits are called non¬economic activities. 5. There are three main forms of enterprises:  Public Sector, Private Sector, Joint Sector, etc. 6. Partnership:  Two heads being better than one. 7. The Business Plan  is a comprehensively written down document prepared by the entrepreneurship. 8. Business plane  is sub-plans from diverse avenues of business, related to: — Marketing — Finance — Operations — Human — Legal 9. Business plan  is prepared by an entrepreneur with the assistance of experts & professionals from diversified fields. 10. Four C’s of credit are:  Character, Cash Flow, Collateral and Contribution (equity) 11. Depending  upon the entrepreneurs experience, knowledge and purpose, following are the basic components/parts of a Business Plan. — Executive summary — Industrial analysis — Description of venture — Production plan — Operation plan — Organisational plan — Financial plan — Marketing plan — Manpower plan 12. Executive summary  highlights in a concrete and convincing manner, the key provisions in the Business Plan, yet stimulating the potential investors that the entire plan is worth reading. 13. Objective of production plan  is to plan the work in a manner that each step to be taken in the right place, right degree, right time and efficiently. 14. Operations plan  is the soul of business plan. 15. Organizational plan  is that part of business plan which describes to proposed venture’s form of ownership. 16. Financial plan  is a projection of the financial data about the potential investment commitment needed for the new venture and economic feasibility of the enterprise. 17. In order to build  up loyal, efficient and dedicated personal, entrepreneurs needs to pay adequate and proper attention to human resource planning. 18. Marketing plan  is a guideline regarding the marketing objectives, strategies and activities to be followed by any enterprise. 19. Formalities for starting a business: — Obtain PAN Number from Income Tax Department — Open a Current Account — Register a Limited Liability Partnership (LLP) — Register Your Company (Pvt. Ltd/Public Limited Company) — Register For Service Tax — Register for VAT/Sales Tax — Excise Duty (Check Applicability) — Shop & Establishment Act — Customs Duty — File Entrepreneurship Memorandum at DIC (Optional) — Apply for TAN — Find State Specific Guidelines & Procedures — Permissions Required at the Construction Stage Employee’s Provident Fund — Employees State Insurance (ESI) Scheme Words That Matter 1. Business:  Business is ‘a state of being busy or occupied’. 2. Economic activities:  Activities undertaken to earn monetary benefits are called economic activities. 3. Non-economic activities:  Activities done out of love and affection and not to earn monetary benefits are called non-economic activities. 4. Organisational Plan:  Organizational plan is that part of business plan that describes to proposed venture’s form of ownership. 5. Financial Plan:  Financial plan is a projection of the financial data about the potential investment. 6. Marketing plan:  Marketing plan is a guideline regarding the marketing objectives, strategies & activities to be followed by any enterprise. 7. Proforma income statement:  Proforma income statement is a projected net profit calculated from estimated revenue minus projected costs and expense. 8. Break even analysis:  The Break even analysis is a process of determining a point where firm neither makes profit nor a loss. 9. Target market:  Target market refers to the specific group of potential customers whose needs the enterprise aims to fulfil. 10. TAN:  TAN or Tax Deduction and Collection Account Number is a 10 digit alpha numeric number required to be obtained by all persons who are responsible for deducting or collecting tax. 11. Elevator pitch:  Elevator pitch is a three minute summary of the business plan’s executive summary. 12. Production Plan:  Production plan is the planning of industrial operations involves four considerations, namely, what work shall be done, how the work shall be done and lastly, when and by whom the work shall be done. 13. PAN:  Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued by the Income Tax Department.

• school Campus Bookshelves
• menu_book Bookshelves
• perm_media Learning Objects
• login Login
• how_to_reg Request Instructor Account
• hub Instructor Commons
• Download Page (PDF)
• Download Full Book (PDF)
• Periodic Table
• Physics Constants
• Scientific Calculator
• Reference & Cite
• Tools expand_more
• Readability

selected template will load here

This action is not available.

1.1: Chapter 1 – Developing a Business Plan

• Last updated
• Save as PDF
• Page ID 21274

• Lee A. Swanson
• University of Saskatchewan

Learning Objectives

After completing this chapter, you will be able to

• Describe the purposes for business planning
• Describe common business planning principles
• Explain common business plan development guidelines and tools
• List and explain the elements of the business plan development process
• Explain the purposes of each element of the business plan development process
• Explain how applying the business plan development process can aid in developing a business plan that will meet entrepreneurs’ goals

This chapter describes the purposes, principles, and the general concepts and tools for business planning, and the process for developing a business plan.

Purposes for Developing Business Plans

Business plans are developed for both internal and external purposes. Internally, entrepreneurs develop business plans to help put the pieces of their business together. Externally, the most common purpose is to raise capital.

Internal Purposes

As the road map for a business’s development, the business plan

• Defines the vision for the company
• Establishes the company’s strategy
• Describes how the strategy will be implemented
• Provides a framework for analysis of key issues
• Provides a plan for the development of the business
• Helps the entrepreneur develop and measure critical success factors
• Helps the entrepreneur to be realistic and test theories

External Purposes

The business plan provides the most complete source of information for valuation of the business. Thus, it is often the main method of describing a company to external audiences such as potential sources for financing and key personnel being recruited. It should assist outside parties to understand the current status of the company, its opportunities, and its needs for resources such as capital and personnel.

Business Plan Development Principles

Hindle and Mainprize (2006) suggested that business plan writers must strive to effectively communicate their expectations about the nature of an uncertain future and to project credibility. The liabilities of newness make communicating the expected future of new ventures much more difficult than for existing businesses. Consequently, business plan writers should adhere to five specific communication principles .

First, business plans must be written to meet the expectations of targeted readers in terms of what they need to know to support the proposed business. They should also lay out the milestones that investors or other targeted readers need to know. Finally, writers must clearly outline the opportunity , the context within the proposed venture will operate (internal and external environment), and the business model (Hindle & Mainprize, 2006).

There are also five business plan credibility principles that writers should consider. Business plan writers should build and establish their credibility by highlighting important and relevant information about the venture team . Writers need to elaborate on the plans they outline in their document so that targeted readers have the information they need to assess the plan’s credibility. To build and establish credibility, they must integrate scenarios to show that the entrepreneur has made realistic assumptions and has effectively anticipated what the future holds for their proposed venture. Writers need to provide comprehensive and realistic financial links between all relevant components of the plan. Finally, they must outline the deal , or the value that targeted readers should expect to derive from their involvement with the venture (Hindle & Mainprize, 2006).

General Guidelines for Developing Business Plans

Many businesses must have a business plan to achieve their goals. Using a standard format helps the reader understand that the you have thought everything through, and that the returns justify the risk. The following are some basic guidelines for business plan development.

As You Write Your Business Plan

1. If appropriate, include nice, catchy, professional graphics on your title page to make it appealing to targeted readers, but don’t go overboard.

2. Bind your document so readers can go through it easily without it falling apart. You might use a three-ring binder, coil binding, or a similar method. Make sure the binding method you use does not obscure the information next to where it is bound.

3. Make certain all of your pages are ordered and numbered correctly.

4. The usual business plan convention is to number all major sections and subsections within your plan using the format as follows:

1. First main heading

1.1 First subheading under the first main heading

1.1.1. First sub-subheading under the first subheading

2. Second main heading

2.1 First subheading under the second main heading

Use the styles and references features in Word to automatically number and format your section titles and to generate your table of contents. Be sure that the last thing you do before printing your document is update your automatic numbering and automatically generated tables. If you fail to do this, your numbering may be incorrect.

5. Prior to submitting your plan, be 100% certain each of the following requirements are met:

• Everything must be completely integrated. The written part must say exactly the same thing as the financial part.
• All financial statements must be completely linked and valid. Make sure all of your balance sheets balance.
• Everything must be correct. There should be NO spelling, grammar, sentence structure, referencing, or calculation errors.
• Your document must be well organized and formatted. The layout you choose should make the document easy to read and comprehend. All of your diagrams, charts, statements, and other additions should be easy to find and be located in the parts of the plan best suited to them.
• In some cases it can strengthen your business plan to show some information in both text and table or figure formats. You should avoid unnecessary repetition , however, as it is usually unnecessary—and even damaging—to state the same thing more than once.
• You should include all the information necessary for readers to understand everything in your document.
• The terms you use in your plan should be clear and consistent. For example, the following statement in a business plan would leave a reader completely confused: “There is a shortage of 100,000 units with competitors currently producing 25,000. We can help fill this huge gap in demand with our capacity to produce 5,000 units.”

Entrepreneurial Planning

• CBSE Revision Notes
• Business Studies
• Chapter 13: Entrepreneurship Development

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.

Leave a Comment Cancel reply

Your Mobile number and Email id will not be published. Required fields are marked *

Request OTP on Voice Call

Post My Comment

• Share Share

Register with BYJU'S & Download Free PDFs

Register with byju's & watch live videos.

Entrepreneurial Planning, Entrepreneurship, Class 12 Revision Notes PDF Download

A business plan usually consists of the following elements.

• A general introduction about the venture
• Planning related to the Business venture
• Planning related to the Organization
• Planning related to the Production
• Planning related to the operations
• Planning related to the human resources
• Planning related to the Marketing and promotional activities
• Planning related to the Financing
• Any other miscellaneous planning elements and appendix

In your opinion who should prepare the business plan?

Ideally the business owner/the entrepreneur should prepare the business plan. They can consult other experts during the course of preparation. However, they should take the sole responsibility of preparing the business plan themselves.

What are the various formats available to present an effective business plan? Watch Video

The following are the various formats available for preparing an effective business plan.

• Elevator pitch: It is a precise summary of the business plan’s execution.
• Oral/In person presentation: The presentation containing the key elements of the business plan is presented to the potential investors.
• Written/Documented presentation: This is targeted for external customers.
• Operational plan: This is targeted for the internal management team. (not for external stakeholders)

How is shipping considered while preparing an operational plan?  

Shipping represents a sequence of steps to accomplish a business transaction. When properly planned for, it helps in completing a business trasaction with optimum efficiency and least expenses. Shipping primarly depends on the

• Nature of business
• Type of the product or service
• Whether the business is operating at a small scale or large scale
• Usage of technology

What is significance of proforma income statement?

Proforma income statement is used to provide the summary of all the profits earned by a new enterprise, in the first year. It projects the profit computed by subtracting projected costs and expenses from the projected revenue. Projected net profit = Projected Revenue – Projected cost. While preparing the proforma income statement, the first thing to be computed is the ‘sales by month’. Any of the following available forecasting techniques are used for this purpose.

• Consumer opinion Surveys
• Expert opinions
• Financial data available from start-up ventures in the same industry or sector.
• Industry sales
• Marketing research.
• Our own experience or others’ experience.

While preparing the proforma income statement one need not be conservative for the sake of initial planning. However if the estimates are conservative and result in substantial profits, it adds credibility to the bright future prospects of the enterprise.

Give an analysis of the break even point.  

Break even point occurs when the enterprise is earning an income equivalent to its expenses. In other-words, at break-even point represents a state of the business where in it is neither making profits nor incurring losses. Put it differently, the revenue and the cost are equal in magnitude. Break-even point is critical to any business due to the following reasons.

• It gives an estimate of minimum number products to be produced or services to be delivered.
• Any deviation in the output will directly affect the profits.
• It is used to determine the selling price of a product or amount to be charged for a service.
• Helps in determining which options or processes or methodologies in the production results in a profit.

Break-even analysis is used in deciding how much sales volume helps the business to break-even. The volume of sales thus computed help the business to get an estimate of the number of sales to be made to meet the total of variable and fixed expenses. You’ve already studied about break-even point in class xi. To refresh your memory refer back to the Business Finance and Arithmetic lesson

Give a brief of the “target market”.  

Target market refers to the group of specific potential customers who are interested in availing the products or services provided by the enterprise. Deciding the “target market” is a very complex task. Deciding on the target market involves

• Deciding the basis on which the entrepreneurs or general market pursue through market research or analysis of the industry. The industry analysis or market research need to be performed by the entrepreneurs themself or by highly experienced professionals.
• Geographic such as city, state, country
• Demographic such as age, gender etc
• Psycho-graphic such as life style, personality, education etc
• Buying conditions (time available etc)
• Desired features and specifications of a product
• Choosing the segment that need to be targeted
• Prepare a marketing plan based on the product, sale price, promotion, delivery logistics etc.

What is the significance of TAN?  

TAN is acronym for Tax deduction and collection Account Number. It is 10 digit long and is a combination of alphanumeric characters. Every one who are responsible or required for deducting or collecting the tax at source, on behalf of Income Tax Department, should apply for and obtain the TAN. It is mandatory to furnish TAN while filing the TDS or TCS returns either directly or online. It should be quoted while paying any TDS/TCS challan or certificate.

Give a very short definition of the business plan.

A business plan is a document, generally prepared by the entrepreneur himself/herself, documenting all the internal and external elements essential to setup an enterprise. The business plan projects

• The business goals
• The factors that favor the achievement of these goals
• The plans to achieve the goals
• Details of the organizations
• Details about all the team involved in achieving the goals.

What do you know about Elevator pitch?  

Elevator pitch is shorter version of the executive summary of the business plan. When presented to someone it is usually seen that the elevator pitch finishes in around 3 minutes. It is used to give a quick introduction about the enterprise to the potential investors, partners and even customers. The primary motive of elevator pitch is usually to grab the attention of the audience and attract them towards the upcoming venture.

Give a brief about the production plan.  

According to Alford and Beatty production planning is defined as The technique of forecasting or picturing ahead, every step in a long series of separate operations,

• in the right place
• of the right degree
• and at the right time
• and each operation to be done at maximum efficiency.

Production planning should give a clear picture of the following.

• Machinery, tools and equipment
• Manufacturing processes and techniques
• Production schedule and/or budget
• Plant layout
• Time, motion and word study

An enterprise which is not manufacturing any products can completely eliminate this from the business plan.

Which factors highly affect the operational plan?   The following factors highly affect the operational plan.

• Nature of product or service
• Whether the business is Small/Medium/Large scale
• Technology used.

What are the different sources of funds to finance an enterprise?  

There are typically two sources of funds available for an enterprise to finance its needs. They can be summarized into two types.

• Owners i.e. Owner’s funds
• Outsiders i.e. funds raised from the investors/financial institutions etc

An entrepreneur should not completely rely on on source of financing i.e. Along with their own funds they should invest the outsider funds so as to make up the complete capital. The ratio in which the owner funds and the outsider funds should be calculated so that

• the cost of capital and the financial risk is lowest
• Return on Investment (ROI) and the profits are highest

Which objectives does an operational plan deal with? 

The operational plan is prepared with due consideration to the following objectives.

• Planning for production well ahead of operations.
• Determine the exact route taken by each part or item in the assembly line.
• Come up with the timeline regarding the exact start date and ending date for each critical assignment or task.
• Controlling and ensuring that the goods are moving through the manufacturing cycle in systematic way. This will ensure that there is systematic approach followed right from the procuring of the materials to the distribution of the end product.

What does an organizational plan contain?  

The organizational plan consists of the following details documented in high clarity. By reading the organizational plan the potential investors can get a clear picture of the associated rights or authorities or roles and responsibilities of each member in the organization.

• Authority and responsibilities of each member of the new enterprise.
• Bio-data i.e. name, role, contact details and resume of each of the member
• Conflict/dispute (in case any arise in future) resolution procedure
• Delegated rights to each of the members. Rights related voting, management controlling etc fall into this category.
• Each member’s roles and responsibilities.
• Form of payment to all the members
• Gross stake of each member in the enterprise.
• High level details of terms and conditions

When you are asked to prepare the income statement which forecasting techniques do you use to prepare the ‘Sales by Month’? 

We have the following most popular forecasting techniques at our disposal for forecasting the income while preparing the ‘Sales by Month’ as part of proforma income statement.

What are all the various steps that should be considered while preparing the marketing plan.  

The following are the various steps that should be considered while preparing the marketing plan.

• Analysis of the business situation
• Broad identification the target market
• Conduct SWOT analysis
• Detailed goal establishment
• Enlist the marketing strategy
• Foolproof implementation and monitoring of the plan

Define PAN. What is its significance? 

PAN is acronym for Permanent Account Number. It is issued by the income tax department and consists of alphanumeric characters. It should be quoted in all the transactions performed by a person with the income tax department. For instance, it should be quoted in the following instances.

• tax payment
• TDS/TCS credits
• communication with income tax department
• Other mentioned transactions

All documents related to financial transactions should compulsorily include the PAN number. PAN number is issued to a person when they fall into one or more of the following categories.

• All existing assessee or persons or taxpayers who need to submit the income tax returns. They should possess PAN even if they are submitting these returns on behalf of others.
• A business man or a professional whose annual gross receipts or turnover or total sales is beyond 5 lakh rupees, in the previous year.
• When a person is dealing with the financial transactions where in it is mandatory to mention the PAN
• PAN can be issued to any person by an assessing officer, on his/her own decision. It can also be allocated to a person who has requested for PAN

Define operational plan.  

Operational plan can be defined as the planning and control of each and every operation in production, at every step of the manufacturing process to result in a coordinated and smooth completion of work withing a factory. Operational plan ensures that the final product is as per the plan.

The operational plan is a blueprint devised much before the actual operations begin. Justify this statement.  

The operational plan is indeed a blueprint of the actual operation and is produced well before the actual operations begin. The following facts support this statement.

• The operational plan ensures that there is an organized process flow from the starting (where the raw material is procured) to the final stage(where the end product is produced)
• continuous production
• less work-in-progress (WIP)
• less wastage
• Purchasing/Procuring
• Engineering
• Manufacturing/Production
• Inventory management
• Supply chain or distribution of goods from the plant to the consumer
• Ensures efficient quality control
• Adopting the more efficient/latest and cost effective manufacturing methods and policies

What is an organizational plan?  

The organizational plan is a part of the business plan that details the enterprise’s form of ownership. It provides detailed information about the who has what kind of authority in the enterprise and how each member of the enterprise deal with other while executing their managerial functions.

Into how many categories can you segregate the types of businesses? What are they?  

Businesses in general can be segregated into four basic categories. They are as follows.

• Manufacturing: Any business that produces a tangible product will fall into this category.
• Service: Any business that offers something that is intangible such as expertise (An accountant’s expertise) or time (a teachers time) or advice (a lawyer’s advise).
• Wholesale: Any business that purchases the products from the manufacturer in buld and then sells the product in small quantities to the retailers.
• Retail: Any business that sells a product directly to the end consumer whose need is satisfied by the product.

For an entrepreneur to start a business what type of business options are available.  

For an entrepreneur to start a business the following forms of business are available.

The following forms are business are available as a choice for a business man to start a new venture..

• Sole proprietorship: This form of business is owned, managed and controlled by a single person, responsible for procuring all the required funds. The business can not be transferred into others’ name. The owner is liable for all the losses and all the profits are enjoyed by the owner only. This kind of business is easier to start and shut down. It has very limited liability.
• Partnership: This form of business is owned, managed and controlled by two or more persons. These persons enter a mutual oral or on paper agreement to form the partnership and share the profits and losses together. This form of ownership has unlimited liability. Each partner enjoys implied authority. Each partner is liable for their and others’ actions. Partners can transfer their shares or sell them after getting a consent from other partners. Partners can discontinue the partnership by giving a notice. It continues as long as all the partners are willing to continue.
• Joint Hindu Family Business/firm (HUFs): Joint Hindu Family or Hindu Undivided Family Business is prevailing only in India. It is governed by Hindu law. This form of business is owned, managed and controlled by male members of a joint Hindu family. HUFs have been defined under Hindu law as a family comprising male who have a common ancestor, including their wives and unmarried daughters. This form of partnership is formed by the status or operation of Hindu law. Only members born in the family can become partners. Others can also become partners but only if they are adopted by someone in the family. Only the eldest male member has rights to manage or verify the accounts of the business. Liability is defined by the share a partner has in the business. However, the eldest member, also known as Karta, has unlimited liability. Any new born male can become the member. The business can be shut down only if all the members provide their consent.
• Cooperative: A cooperative form of business is formed by a society. Its primary object is mutual help. Profit is secondary objective. Members can join or leave at their own will. The members select the management committee which will be responsible for managing the affairs of the business. The capital is procured from the members. Shares can not be transferred. This form of enterprise is limited by the Cooperative societies act and the State cooperative societies act. Profits are limited to 9% of the share. Excessive profits are shared among members depending on their contribution to the society.
• Joint Stock Company: For a private company minimum two persons are required and for a public company minimum seven persons are required. In addition to this, the company exists as an individual and has its own personality. Thus the company will have a common seal which is used as a signature of the company. The company neither has any liability nor it can have any shares. The company is managed by the directors. The actions of the company are governed by The Indian Companies Act, Memorandum of Association, Articles of Association. The company can be liquidated through legal proceedings.

While preparing a financial plan, which areas should be giving at-most consideration for it to be effective?  

While preparing the financial plan, the following areas should be dealt with at-most consideration as they form the key areas.The following are the areas which need to be given due consideration while preparing a financial plan. The more the emphasis is laid on these areas the more will be the effectiveness of the financial plan.

• All the areas which require financing
• Sources from where the investments or funds can be procured.
• cash flow considerations
• inventory requirements
• loan and other investment options
• Timely procurement of funds.

What are the key components that should be part of the financial plan?  

The following are the key components that should be part of the financial plan.

• Break-even Analysis
• Proforma Balance sheet
• Proforma Cash flow
• Economic and social factors
• Proforma financing decisions
• Proforma income statements
• Proforma investment decisions

Define and describe the significance of the business plan.  

Business Plan: A business plan is formal document prepared by the entrepreneur consisting of all the extensive details of internal and external elements to be considered for starting a new business. The business plan covers

• A list of business goals.
• All the factors that support the fact that these goals can be realized.
• Road-map or plan for accomplishing these goals
• The background information of the enterprise
• The team involved to realize these goals.

Thus a business plan is a detailed document consisting of all the tasks performed as part of the business. Along this information it also serves as

• A means to understand the viability and feasibility of the proposed business.
• Helps in planning for bottlenecks and implementation of the idea.
• Gives an idea about risks associated and the possibility of successful establishment of the business.

Significance of business plan: A business plan is significant to all the stakeholders who are interested to get an insight of the

• business/venture
• and its objectives

The business plan is very handy to

• get a clear picture of the viability of the venture in a specific market sector.
• identification of the required resources
• Procure the license, depending on the need
• complete the legal formalities imposed by the government
• clarify the queries, issues or concerns of all the parties interested in the proposed venture.
• perform self-evaluation and self-assessment. This will enable the entrepreneur consider various alternate solutions to avoid/mitigate risk.
• identify the risk which can not be dealt with and drop off the plan. However this is very rare scenario.
• Contribution of equity

Thus it helps in convincing the investors/lenders and procure the required funds.

Specify the various components of an operational plan.  

The following are the various components of an operational plan.

• Routing: Routing deals with the work flow of a product or service from the stage the raw materials are procured to the stage the final product is produced/service is accomplished.
• Scheduling: Scheduling deals with the exact start and end time of each operation. Indirectly, scheduling is concerned with the duration required to complete each operation.
• information
• instructions
• and orders are issued thus giving the desired shape to the production plan.
• the materials
• work-in-progress (WIP)
• finished products
• Identify the steps to improve the performance of the poorly performing departments.
• suggesting alternate courses of action to overcome the obstacles in the production line.
• Inspection: Inspection deals with the established standards to ensures that these standards are maintained in the materials or product or performance. Inspection ensures that there are separate laboratories or processes established to ensure that the product or service is within the prescribed quality standards.
• Shipping: Shipping deals with the deliver of the finished product or service to the consumer.

What is a financial plan? Watch Video at the financial plan definition part

Financial plan is a representation of critical financial data related to

• The total possible funding required to establish the new enterprise
• Feasibility of the enterprise to become economically successful.  

at the objectives of financial plan part

What are the primary objectives of the financial plan?

The objective of the financial plan is to ensures that all the interested stakeholders get a clear idea of

• Total funds required for smooth running of all the business operations without any impact. This includes the funds required for purchasing assets, day-to-day expenses etc.
• Sources such as Banks, financial institutions, angel investors, equity financiers, venture capitalists from where the funds can be procured.
• Disbursement of funds. Give details of how the funds are managed effectively so as to minimize the expenses and maximize the profits.
• Liquid cash available at disposal
• An estimate of the possible revenue generation at least after completing a year. This section is very important as it plays key role to make the investors confident about the entrepreneur and gives them an idea about the returns on their investments.

Thus it facilitates the timely gathering of the funds and there by becoming a key factor in the success of the enterpreneur and enterprise. By reading the financial plan, the stakeholders can get detailed information regarding

• how all financial requirements are fulfilled
• how the enterprise can successfully generates good returns on all the investments made
• how the entrepreneur maintains liquidity to cover the debts

Thus with a well documented financial plan and executing it, the entrepreneur will be able to pu the critical resources i.e. materials, men, machines and methods to produce goods and services on time.

What are the investment decisions?  

Investment decisions under financial plan refers to the strategies with which the funds are wisely invested in various assets. A well planned and investigated investment decision can generate maximum income and thus contribute to maximum returns on all the investments. In the financial plan the investment decisions are documented under the proforma investment decisions section. The divestment of investment under the working capital and fixed assets is estimated and should be clearly documented in this proforma.

What is the priority in which the investments are distributed and documented in proforma investment decisions.  

The priority in which the proforma investment decisions are made is as follows.

• Investment on the Land and building
• Investment on the tools, machinery and plant
• Setup or installation expenses
• Initial or preliminary expenses
• Margin allocated for the working capital.
• Expenses for performing the research and development activities.
• Investments made on the short-term assets like raw material, level of cash etc.

A properly formatted investment decision gives an idea about the exact amount funds to be raised so as start the venture. This will be of great help for efficiently running the enterprise. Any insufficiency or surplus of funds can have an adverse impact on the success of the enterprise. So, proforma investment decision plays a critical role in estimating the exact amount of funds required and how they should be distributed based on the priority. For this reason due attention should be paid while preparing the proforma investment decisions.

• possess the desired skill set
• available at the right time
• available at the right place to perform the assigned job
• they do the work most appropriate for what they are paid for.

Why is the manpower critical for every enterprise?  

• Which type of human resources are required to perform the job.
• As the roles of the human resources vary, it should be clearly specified about the position for which the human resources are recruited for i.e., Unskilled employees, skilled employees, technicians, engineers, managers, administrators etc.
• The type of business determines the type of human resources required.
• the amount of work done
• work done by an individual in a given period.
• Number of leaves allocated
• The rate at which the manpower leaves the organization and the rate at which the new workforce is recruited (this is called attrition).
• The current size of the organization.
• Future growth and diversification
• Recruitment process
• Selection process
• Training the recruited or existing employees

Explain what you understood by the term ‘marketing plan’?  

• Brief history of the market place
• The strengths and weaknesses of the business in the market.
• Risks and opportunities
• Future direction: This section covers the goals and objectives of the enterprise to be achieved in the next 1 year.
• The strategies to be executed to reach the goals.
• Time frame to achieve the goals
• Delegation of the responsibilities to various personnel to take the ownership and monitor the progress.

Why is the marketing plan called as one of the the critical elements of the business plan? 

• It helps in convincing the investors regarding how the entrepreneur is going to drive the business towards success.
• It analyses the current business situation.
• It helps in identifying the target market and prepare the strategies to reach the target market.
• Contains the details of the SWOT (Strengths – Weaknesses – Opportunities – Threats) analysis details.
• It emphasizes the entrepreneur to establish the goals to be achieved in the next one year.
• Defines the marketing strategies to achieve the established goals.
• It helps in identifying the qualified personnel to delegate the marketing goals who in turn can take the ownership and start monitoring the progress.
• Apply for PAN: PAN can be obtained from the Income Tax Department. This is essential as the entrepreneur has to submit the PAN in all the documents dealing with financial transactions.
• ID Proof like Driving license or passport or voter Id card or PAN card
• Address proof: Any utiltity bill like telephone or electricity bill.

Private or public limited companies need to furnish the following documentation in addition to the above.

• Certificate of incorporation and starting of the business.
• Memorandum and Articles of Association
• Authorising document from the board resolution approving the opening and opertaing of the account.
• Filled in Form 60
• Name of the business or company
• e-filing through the MCA website for registration
• Apply for DIN
• Procure DSC
• Submit DSC in the MCA portal
• Submit the application for getting the approval for the name of the company
• Memorandum of Association
• Articles of Association
• Verification of all the forms needed for the incorporation of the company.
• Register for service tax: Need to register for service tax so as to authorize the company to collect service tax.
• Register for Sales tax/VAT: The company should register for VAT so as to procure authorization to collect VAT. Also, if the product is sold for the first time then the company should have registered for service tax and obtained the Sales tax Identification number.
• Excise duty: Where applicable the company should register for excise duty.
• Customs duty: This is applicable for import/export business.
• Submit the entrepreneurship memorandum at DIC: This is not mandatory and can be applied optionally.
• Apply for TAN: The business should apply for and procure TAN if the business requires deducting or collecting the tax.
• Submit the application for the plot/shed, offer letter, payment of earnest money deposit.
• Approval from the authorities regarding the allotment of plot/shed, balance payment, taking the possession
• Application to procure NOC/SSI
• Obtain lease agreement
• Approval for water connection during construction.
• Approval for power connection during construction.

After the construction is completed, the following approvals should be procured.

• Building completion
• Tree plantation
• Drainage completion.
• Approval for mortgage
• NOC from the pollution control board
• Fire clearance certificate
• NOC from the environmental department
• Industrial safety certification
• Issue of permanent power supply.
• Issue of permanent water supply and sewerage.
• Employee’s provident fund(EPF):  This is required for business who have a work force of 20 or more people.
• Employee’s state insurance scheme (ESI):  This is required for non-seasonal business units that have a workforce of 10 or more. However for businesses like shops, hotels, cinemas or preview theatres etc, this is required if the workforce is 20 or more.

FAQs on Entrepreneurial Planning, Entrepreneurship, Class 12 Revision Notes

Entrepreneurship, class 12 revision notes, objective type questions, shortcuts and tricks, entrepreneurial planning, past year papers, practice quizzes, mock tests for examination, extra questions, important questions, video lectures, previous year questions with solutions, semester notes, study material, viva questions, sample paper.

Revision Notes - Entrepreneurial Planning, Entrepreneurship, Class 12 Free PDF Download

Importance of revision notes - entrepreneurial planning, entrepreneurship, class 12, revision notes - entrepreneurial planning, entrepreneurship, class 12, revision notes - entrepreneurial planning, entrepreneurship, class 12 class 12 questions, study revision notes - entrepreneurial planning, entrepreneurship, class 12 on the app, welcome back, create you account for free.

Forgot Password

Unattempted tests, change country.

Entrepreneurial Planning – CBSE Notes for Class 12 Entrepreneurship

1. Entrepreneurial activities are of three major categories: Manufacturing, trading and service providing. 2. Business is ‘A state of being busy or occupied’. 3. Activities undertaken to earn monetary benefits are called economic activities. 4. Activities done out of love and affection and not to earn monetary benefits are called non¬economic activities. 5. There are three main forms of enterprises: Public Sector, Private Sector, Joint Sector, etc. 6. Partnership: Two heads being better than one. 7. The Business Plan is a comprehensively written down document prepared by the entrepreneurship. 8. Business plane  is sub-plans from diverse avenues of business, related to: — Marketing — Finance — Operations — Human — Legal 9. Business plan is prepared by an entrepreneur with the assistance of experts & professionals from diversified fields. 10. Four C’s of credit are: Character, Cash Flow, Collateral and Contribution (equity) 11. Depending upon the entrepreneurs experience, knowledge and purpose, following are the basic components/parts of a Business Plan. — Executive summary — Industrial analysis — Description of venture — Production plan — Operation plan — Organisational plan — Financial plan — Marketing plan — Manpower plan 12. Executive summary highlights in a concrete and convincing manner, the key provisions in the Business Plan, yet stimulating the potential investors that the entire plan is worth reading. 13. Objective of production plan is to plan the work in a manner that each step to be taken in the right place, right degree, right time and efficiently. 14. Operations plan is the soul of business plan. 15. Organizational plan is that part of business plan which describes to proposed venture’s form of ownership. 16. Financial plan is a projection of the financial data about the potential investment commitment needed for the new venture and economic feasibility of the enterprise. 17. In order to build up loyal, efficient and dedicated personal, entrepreneurs needs to pay adequate and proper attention to human resource planning. 18. Marketing plan is a guideline regarding the marketing objectives, strategies and activities to be followed by any enterprise. 19. Formalities for starting a business: — Obtain PAN Number from Income Tax Department — Open a Current Account — Register a Limited Liability Partnership (LLP) — Register Your Company (Pvt. Ltd/Public Limited Company) — Register For Service Tax — Register for VAT/Sales Tax — Excise Duty (Check Applicability) — Shop & Establishment Act — Customs Duty — File Entrepreneurship Memorandum at DIC (Optional) — Apply for TAN — Find State Specific Guidelines & Procedures — Permissions Required at the Construction Stage Employee’s Provident Fund — Employees State Insurance (ESI) Scheme

Words That Matter 1. Business: Business is ‘a state of being busy or occupied’. 2. Economic activities: Activities undertaken to earn monetary benefits are called economic activities. 3. Non-economic activities: Activities done out of love and affection and not to earn monetary benefits are called non-economic activities. 4. Organisational Plan: Organizational plan is that part of business plan that describes to proposed venture’s form of ownership. 5. Financial Plan: Financial plan is a projection of the financial data about the potential investment. 6. Marketing plan: Marketing plan is a guideline regarding the marketing objectives, strategies & activities to be followed by any enterprise. 7. Proforma income statement: Proforma income statement is a projected net profit calculated from estimated revenue minus projected costs and expense. 8. Break even analysis: The Break even analysis is a process of determining a point where firm neither makes profit nor a loss. 9. Target market: Target market refers to the specific group of potential customers whose needs the enterprise aims to fulfil. 10. TAN: TAN or Tax Deduction and Collection Account Number is a 10 digit alpha numeric number required to be obtained by all persons who are responsible for deducting or collecting tax. 11. Elevator pitch: Elevator pitch is a three minute summary of the business plan’s executive summary. 12. Production Plan: Production plan is the planning of industrial operations involves four considerations, namely, what work shall be done, how the work shall be done and lastly, when and by whom the work shall be done. 13. PAN: Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued by the Income Tax Department.

CBSE Notes CBSE Notes Entrepreneurship NCERT Solutions Entrepreneurship

• Bihar Board

SRM University

नए भारत का नया उत्तर प्रदेश.

• Bihar Board Result 2024
• UP Board Result 2024
• CBSE Board Result 2024
• MP Board Result 2024
• Rajasthan Board Result 2024
• Shiv Khera Special
• Education News
• Web Stories
• Current Affairs
• School & Boards
• College Admission
• Govt Jobs Alert & Prep
• GK & Aptitude

CBSE Class 12 Entrepreneurship Syllabus 2020-21: Download PDF

Check cbse class 12 entrepreneurship syllabus 2020-21 and download it in pdf. this syllabus is very important for the preparation of cbse class 12 entrepreneurship board exam 2020-21..

Check CBSE Class 12 Entrepreneurship Syllabus 2020-21 and download it in PDF. This syllabus is very important for the preparation of CBSE Class 12 Entrepreneurship board exam 2020-21. Important portion of CBSE Class 12 Entrepreneurship Syllabus 2020-21 is given below.

CBSE Class 12 Entrepreneurship Syllabus 2020-21:   COURSE CONTENT

Prescribed Books:

- Entrepreneurship - Class XI- C.B.S.E,Delhi

 - Entrepreneurship - Class XII - C.B.S.E.,Delhi

 - Udyamita (in Hindi) by Dr. MMP. Akhouri and S.P Mishra, pub. By National Institute for Entrepreneurship and Small Business Development (NIESBUD), NSIC-PATC Campus,Okhla

- Udyamita  Samachar  Patra  (Monthly,  Hindi),  Pub.  By  Centre  for  EntrepreneurshipcDevelopment, M.P. (CEDMAP), 60 Jail Road,Jhangerbad, Bhopal-462008.

- Science  Tec.  Entrepreneur  (A  Bi  Monthly  Publication),  Centre  for  EntrepreneurshipcDevelopment, M.P (CEDMAP), 60 Jail Road, Jhangerbad, Bhopal -462008

- Laghu Udhyog Samachar

- Project Profile by DCSSI

Get here latest daily, weekly and monthly  Current Affairs  and  GK  in English and  Hindi  for UPSC, SSC, Banking, Railway, Defence and exams. Download Jagran Josh  Current Affairs App . Check  Board Result 2024  for Class 10 and Class 12 like  CBSE Board Result ,  UP Board Result ,  Bihar Board Result ,  MP Board Result ,  Rajasthan Board Result  and Other States Boards.

• CBSE Class 10 Maths Question Paper 2024
• CBSE Class 10 Maths Exam Analysis 2024
• CBSE Class 10 Maths Answer Key 2024
• CBSE Class 12 Maths Question Paper 2024
• CBSE Class 12 Maths Answer Key 2024
• APPSC Group 1 Hall Ticket 2024
• SSC GD Answer Key 2024
• CTET July Notification 2024
• JKSSB SI Answer Key 2024
• SHS Bihar CHO Recruitment 2024

Trending Categories

• CBSE Syllabus
• CBSE Class 12 Syllabus
• CBSE Class 12

Latest Education News

Google Chrome Users Beware: Update Now to Protect Your Data!

Picture Puzzle IQ Test: Find the baby’s real mother in 6 seconds!

Karnataka Board 2nd PUC Class 12 Business Studies Paper Analysis 2024: Exam Review, Student Feedback and Expert View

SSC GD Constable Answer Key 2024 Soon: Direct Link to Download Response Sheet, Check Marks Calculation

Bihar Sakshamta Pariksha Answer Key 2024: बिहार सक्षमता परीक्षा उत्तर कुंजी लिंक कल होगा एक्टिव, यहां से कर सकेंगे डाउनलोड

JPSC Admit Card 2024: Direct Link for Jharkhand CSE Call Letter to Active at ccsc.digitalexamregistration.com

CAA News: मोदी सरकार ने जारी की नागरिकता संशोधन कानून की अधिसूचना, किसको होगा फायदा, पढ़ें

CBSE Class 10 Computer Applications Syllabus for Board Exam 2024, Download in PDF

TN Board Class 12 Chemistry Question Paper 2024 PDF with Answer Key & Exam Analysis

Optical Illusion Eye Test: Find a bird in the picture in 4 seconds!

GSEB Gujarat Board Class 12 Physics Model Test Paper 2024: Download FREE PDF

RSMSSB Junior Instructor Recruitment 2024 Notification Out, Apply Online for 1821 Vacancies

Bihar Board 10th Answer Key 2024 Out: Download BSEB Released Matric Answer Key At biharboardonline.bihar.gov.in

RRB Technician 2024 Cut Off: यहाँ चेक करें आरआरबी तकनीशियन की कट ऑफ

Bihar Board 10th Answer Key 2024 Released at biharboardonline.bihar.gov.in; BSEB Matric Results Expected in March

GK Quiz on Badminton: Can You Master Badminton Trivia?

Current Affairs One Liners: 11 March 2024- India's First Elevated Expressway

Bihar Board 10th Result 2024 Date: BSEB Class 10 Result Date and Time, Official Link biharboardonline.bihar.gov.in

SSC GD Answer Key 2024: एसएससी जीडी कांस्टेबल उत्तर कुंजी डाउनलोड लिंक ssc.gov.in पर, ऐसे कैलकुलेट करें मार्क्स

SRH IPL 2024 Schedule: Full Sunrisers Hyderabad Match List, Fixtures, Dates, and Timings

Talk to our experts

1800-120-456-456

• NCERT Solutions for Class 12 Business Chapter 13 - Entrepreneurship Development
• NCERT Solutions

Class 12 NCERT Solutions Business Studies - Entrepreneurship Development - Free PDF Download

NCERT Solutions for Class 12 Business Studies Chapter 13 by Vedantu contains expansive study material that establishes the necessary foundation in this chapter. Class 12 Business Studies Chapter 13 NCERT Solutions is a great resource that provides illustrative examples and statistical analysis. NCERT Solutions Business Studies Chapter 13 is all a student requires to achieve a high score in their board exams.  Students who depend upon NCERT Solutions Class 12th Business Studies for their exam preparations are guaranteed success. The study material devised is made easy to memorize and understand complex information written by our subject experts. These features are easily accessible.

NCERT Solutions Class 12 Business Studies Chapter 13 - Free PDF Download

Downloading the digital version of NCERT Solutions for Class 12 Business Studies Chapter 13 Entrepreneurship Development from the website and app is very handy. The detailed analysis of the chapter provides a fundamental base of the important concepts. This NCERT Solutions Class 12 Business Studies Chapter 13 provides solutions to mastering the skills of entrepreneurship and its applications. This is made easier by our subject experts. The solutions for Chapter 13 Entrepreneurship Development Class 12 NCERT Solutions are provided in a step-by-step format to guide a student of any calibre to ace their exams with flying colours. 

NCERT Solutions for Class 12 Business Studies Chapters

Chapter 13 - entrepreneurship development.

CBSE Business Studies Class 12 Chapter 13 - Entrepreneurship Development is a chapter of NCERT Business Studies prescribed textbook. It is used as a primary resource for this topic. NCERT Solutions Class 12th Business Studies Chapter 13 provides important descriptions, precise use of terminology and provides a strong grasp of the chapter. The chapter provides an exclusive analysis of the fundamentals of being an entrepreneur, its characteristics, importance and relationship to management skills. Along with this core information, certain statistics are utilized in the field. Our subject experts provide the reader with a plethora of information in terms of real-world applications of the concepts. 

The terminology, statistical charts and schematics are written in simple language to establish a strong base of the topic. Our subject experts have prepared these NCERT Solutions to provide the overall groundwork for the chapter.

Class 12 Business Studies Chapter-wise Marks Weightage

Class 12th Business Studies Chapter 13 has a weightage of 15 marks and is one of the fundamental topics covered in exams. Questions on terminology, differences, and statistical concepts keep repeating in the Board exams, for which preparing from this study material is simplified.

Here is more detail about the contents of Chapter 13 Entrepreneurship Development Class 12.

Why are NCERT Solutions For Class 12 Microeconomics Chapter 5 Important?

NCERT Business Studies Class 12 Chapter 13 comes with important terminology about the topic and illustrative examples that can be used for simplified revision before exams.

NCERT Solutions for Class 12 Business Studies Chapter 13 Entrepreneurship Development is prepared by a team of experts with years of experience in the field.

Our simplified answers provide an easy understanding and a solid foundation of the subject.

These solutions are composed of concise points, graphs, tables, discussion forums and analysis of specific topics.

For better understanding, the material provides a systematic overview of all the important points.

FAQs on NCERT Solutions for Class 12 Business Chapter 13 - Entrepreneurship Development

1. How Does Entrepreneurship Play a Creative Role in the Industry?

Entrepreneurship is defined as setting up an individual enterprise and promoting your skillset. Entrepreneurship is a creative activity and adds potential clientele interested in your product or service. An entrepreneur is a person who builds a bridge between utilizing raw resources producing a product as per the requirements of the community. It involves introducing new technology and products into the market and replacing old versions. This is because using old techniques in a new way requires creativity. Thus, creativity can be called the essence of entrepreneurship.

2. What is the Correlation Between Achievement Motivation and Entrepreneurship?

Traditionally, an entrepreneur is born. However, in reality, an entrepreneur is a hardcore aspiration acquired. Men and women who are the ones capable of being a potential source of entrepreneurship carry a sense of self-efficacy. Achievement motivation plays an important role. This drives the wheels of achieving one’s lifelong passion. Achievement and competitive situations act as motivating factors. The platform to fulfil these passions is provided by entrepreneurship. Entrepreneurship drives an individual to overcome obstacles. It enhances individuals' self-development. Achievement motivation thus has an important role to play in entrepreneurship.

3. How much does it cost to download NCERT Solutions Class 12 Business studies Chapter 13 PDF?

You do not need to pay a penny for this. The NCERT Solutions by Vedantu for Class 12 Business Studies Chapter 13 can easily be availed on the website or app of Vedantu, and that too for free! The solutions are created by experts and are fully reliable. If the student requires more information and help in understanding and grasping the basic concepts, then he or she can visit the Vedantu site and even talk to mentors to clear their doubts. 

4. Where can we download NCERT Solutions Class 12 Business studies Chapter 13 PDF?

The student can simply go and visit the website of Vedantu and download the PDF for NCERT Solutions of Class 12 Business Studies Chapter 13, and that too for no cost at all! The students can now easily refer to these and solve the doubts that they were having while solving the questions regarding this chapter and its topics.

5. Who is an entrepreneur?

An entrepreneur can be best described as a person who invests in a new business, bearing the majority of the risks and reaping the majority of the rewards. The process of starting a business is referred to as entrepreneurship. The entrepreneur is frequently regarded as an innovator, as innovation is a crucial quality that plays a significant role in this area of interest.

6. Is the Chapter 13 Class 12 Business Studies tough?

Most students find this chapter in Class 12 difficult because there is a sudden change in the difficulty level of education from Class 11 to 12 and a large leap from Class 10 to Class 11. What makes it more difficult is the transition. But this is an interesting chapter, and going through the NCERT Solutions can make it simple. Finally, good practice is essential.

7. Where can I look for guidance regarding Business Studies Chapter 13 of Class 12?

For any proper guidance or aid, you can look up the modules and the help available on the Vedantu site and connect with their experts for more material and sessions in order to learn this chapter to the best of your ability. It will be crucial for you to practice well and understand each concept well to get good grades.

NCERT Solutions Class 12 Business Studies

Cbse study materials, jee study materials, neet study materials.