NCERT Class 12 Biotechnology Biotechnology: Chapter 13 — 1 Concept of Entrepreneurship
This chapter introduces the concept of entrepreneurship, emphasizing its role in societal prosperity and economic development. It defines an entrepreneur as an individual who undertakes business opportunities, organizes resources, and bears risks. The chapter highlights three key roles of an entrepreneur: innovator, organizer, and risk bearer. It also includes definitions from prominent figures like Howard Stevenson and Bruce Bachenheimer, stressing the importance of innovation, problem-solving, and value creation. The text underscores entrepreneurship's significance in driving economic growth, citing examples from countries like the USA and Japan, and its role in introducing new products to the market. This foundational understanding is crucial for students of Biotechnology, particularly in the context of launching science-based enterprises.
Quick info
| Board | CBSE / NCERT |
|---|---|
| Class | Class 12 |
| Subject | Biotechnology |
| Book | Biotechnology |
| Chapter | Chapter 13 — 1 Concept of Entrepreneurship |
| Language | English |
| PDF type | NCERT Textbook |
| Session | CBSE 2026 |
| Reading time | 3 minutes |
| Word count | 428 |
Learning outcomes
- Define entrepreneurship and identify the core roles of an entrepreneur.
- Understand the significance of entrepreneurship for economic development.
- Recognize the innovative and risk-bearing aspects of entrepreneurial activities.
- Appreciate the contribution of entrepreneurs in bringing new products to market.
Vocabulary
| Word | Meaning |
|---|---|
| Entrepreneur | An individual who undertakes an activity foreseeing business opportunity, organizes resources, and bears risk. |
| Enterprendre | French root word for 'entrepreneur', meaning 'to undertake'. |
| Innovator | A person who brings out new products into the market. |
| Organizer | One who organizes factors of production to take advantage of market opportunities. |
| Risk bearer | One who shoulders uncertainties associated with a venture. |
| Economic development | The process by which a nation's wealth increases over time. |
| Scientific temperament | An attitude of inquiry and logical thinking based on scientific principles. |
| Biotechnology | The application of scientific discoveries to create enterprises, especially in this context, based on biological processes. |
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Practice questions
- What is the root word for 'entrepreneur' and what does it mean? Answer: The root word is the French word 'enterprendre', meaning 'to undertake'.
- What are the three prominent roles of an entrepreneur? Answer: The three prominent roles are innovator, organizer, and risk bearer.
- How does an entrepreneur contribute to economic development? Answer: An entrepreneur creates employment and introduces new products, driving innovation and economic growth.
- According to Howard Stevenson, what is entrepreneurship? Answer: Howard Stevenson defined entrepreneurship as the process by which individuals pursue opportunities without regard to the resources they currently control.
Practice MCQs
Q1. The French root word for 'entrepreneur' is:
Explanation: The text explicitly states that the root word for 'entrepreneur' is the French word 'enterprendre'.
Q2. Which of the following is NOT a prominent role of an entrepreneur mentioned in the text?
Explanation: The text identifies innovator, organizer, and risk bearer as the three prominent roles of an entrepreneur.
Q3. An entrepreneur who brings out new products into the market is acting as a/an:
Explanation: The chapter defines an innovator as the person who brings out new products into the market.
Q4. According to the text, entrepreneurs contribute to economic development by:
Explanation: The text highlights that entrepreneurs create employment and contribute to economic development by introducing new products.
Q5. Debbie Roxarzade defines entrepreneurship as:
Explanation: Debbie Roxarzade's definition emphasizes persistent progression towards an innovative solution and a hunger for making things better.
Frequently asked questions
What is an entrepreneur?
An entrepreneur is an individual who undertakes an activity foreseeing business opportunity, organizes the necessary resources, and bears the risks involved in starting and running an enterprise.
What are the main roles of an entrepreneur?
The three main roles of an entrepreneur are being an innovator (bringing new products), an organizer (arranging factors of production), and a risk bearer (shouldering uncertainties).
How does entrepreneurship benefit society and the economy?
Entrepreneurs contribute to economic development by creating employment opportunities and introducing new products and innovations to the market.
What does the French word 'enterprendre' mean in relation to entrepreneurship?
'Enterprendre' is the root word for 'entrepreneur' and it means 'to undertake'.
Why is entrepreneurship considered important for economic growth?
Entrepreneurs are seen as prime movers of innovation and are crucial for introducing new products, thereby augmenting the growth of an economy.
Related resources
Important topics
Topics covered
NCERT Class 12 Biotechnology — Biotechnology — Chapter 13 — 1 Concept of Entrepreneurship. Verified by NCERT Help Editorial Team. Reviewed on 29 Jul 2026. Last updated 10 Aug 2026.