CBSE Class 11 Entrepreneurship Chapter 7: Resource Mobilization NCERT Solutions
This chapter focuses on Resource Mobilization for Class 11 Entrepreneurship students. It delves into the fundamental concept of resources, defining them as tangible and non-tangible assets crucial for organizational activities and goal achievement. The solutions explain why entrepreneurs require these resources for setting up and operating a business. It elaborates on the process of resource mobilization, which involves acquiring resources from various providers like financiers and laborers through different mechanisms to implement organizational plans. The chapter also highlights state-level organizations that offer information on infrastructural facilities and discusses various professional assistance arrangements. The solutions provide detailed answers to textbook questions, covering the definition and examples of physical resources, factors determining resource requirements, basic resources for commencing an enterprise, expert professional assistance for starting a school, and considerations for selecting physical resources. These solutions are designed to help students understand the practical aspects of resource management in entrepreneurship and prepare effectively for their exams.
Quick info
| Board | CBSE |
|---|---|
| Class | Class 11 |
| Subject | Entrepreneurship |
| Session | 2026 |
| Language | English |
| Type | NCERT Solutions |
| Chapter | Chapter 7 |
Chapter summary
Chapter 7, Resource Mobilization, for CBSE Class 11 Entrepreneurship, covers the essential aspects of acquiring and managing resources for a business venture. It defines resources, explains their necessity for entrepreneurs, and details the process of mobilization. The solutions address textbook questions on physical resources, factors influencing resource needs, basic requirements for starting an enterprise, and professional assistance. It also touches upon state-level organizations aiding entrepreneurs and criteria for selecting physical resources, providing a foundational understanding of resource management.
Learning outcomes
- Understand the definition and importance of resources in entrepreneurship.
- Explain the process of resource mobilization.
- Identify different types of resources and their sources.
- Recognize state-level organizations that provide infrastructural information.
- Analyze factors influencing the determination of required resources.
- List basic resources essential for commencing an enterprise.
- Describe various forms of professional assistance for business operations.
Topics covered
Paper topics
- Definition of Resources
- Need for Resources in Business
- Process of Resource Mobilization
- Types of Resources
- Physical Resources
- Factors Determining Resource Requirements
- Basic Resources for Enterprise
- Expert Professional Assistance
- Contractual Arrangements
- Third Party Arrangements
- Captive Unit Arrangements
- State Level Organizations for Infrastructure
Important topics
- Definition and Importance of Resources
- Resource Mobilization Process
- Physical Resources and Selection Criteria
- Factors for Determining Resource Needs
- Basic Resources for Starting an Enterprise
- Professional Assistance and Arrangements
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Questions and Solutions
Question 1
Answer in not more than 15 words:
(i) Define the term 'resources'.
(ii) Why do entrepreneurs need resources?
(iii) What do you mean by 'mobilisation of resources'?
(iv) Name two state level organisations, which provide information about the infrastructural facilities.
(v) How can a professional assistance?
Solution:
(i) Resources are anything, tangible or non-tangible, required to support organizational activities and achieve goals.
(ii) Entrepreneurs need resources to establish and operate their business organizations to meet objectives.
(iii) Resource mobilization is the process of acquiring resources from providers to implement organizational work and achieve goals.
(iv) Two state-level organizations are: (1) DIC (District Industries Centre) (2) EB (Electricity Board).
(v) Professional assistance can be arranged through various mechanisms like contractual arrangements, third-party arrangements, or captive units.
Question 2
Answer in not more than 50 words:
(i) What are physical resources? Give two examples.
(ii) What factors help in determining the resources required?
(iii) What basic resources are required to commence any enterprise?
(iv) Enlist any four expert professional assistance required to start a school.
(v) Name any four factors to be kept in mind while selecting physical resources.
Solution:
(i) Physical resources are tangible assets created by human effort, such as buildings, plants, and machinery, which are essential for running an enterprise.
(ii) Determining required resources involves considering the right type, timely procurement, right price, and ensuring optimum utilization of acquired resources.
(iii) The most basic resources required to commence any enterprise are labor, capital, and land.
(iv) Four types of expert professional assistance for starting a school include: teachers, transport services, administrative staff, and legal/financial advisors.
(v) Four factors to consider when selecting physical resources are: capital cost, availability, suitability for the purpose, and maintenance requirements.
Common mistakes
- Confusing the definition of resources with specific examples.
- Not clearly distinguishing between mobilization and mere acquisition of resources.
- Overlooking the importance of timely and cost-effective procurement of resources.
- Failing to consider the full utilization of acquired resources.
Revision tips
- Clearly define 'resources' and 'resource mobilization' in your own words.
- List the basic resources needed for different types of enterprises.
- Understand the role of professional assistance and contractual arrangements.
- Review the examples of state-level organizations that support entrepreneurs.
- Focus on the factors that determine the quantity and quality of resources needed.
Practice MCQs
Q1. What is the primary purpose of resources in an organization?
Explanation: Resources are essential means that support an organization's activities and help it achieve its predetermined goals.
Q2. Which of the following is a key aspect of resource mobilization?
Explanation: Resource mobilization involves obtaining necessary resources from various providers through different mechanisms to implement organizational work.
Q3. Which of these is an example of a physical resource?
Explanation: Physical resources are tangible assets created by human effort, such as buildings, plants, and machinery, used for running an enterprise.
Q4. What is a crucial factor to consider when procuring resources?
Explanation: The right time for procurement is a critical factor to ensure resources are available when needed for the enterprise's operations.
Q5. Which state-level organization is mentioned for providing information about infrastructural facilities?
Explanation: The District Industries Centre (DIC) is a state-level organization that provides information about infrastructural facilities to entrepreneurs.
Frequently asked questions
What are resources according to the Entrepreneurship textbook?
Resources are defined as anything, tangible or non-tangible, that is required to support the activities of an organization and help achieve its predetermined goals.
Why is resource mobilization important for entrepreneurs?
Entrepreneurs need resources to set up and run their business organizations effectively to achieve their objectives and goals. Resource mobilization is the process of obtaining these essential resources.
What are some examples of physical resources?
Physical resources include tangible assets like buildings, plants, and machinery, which are created by human effort and are necessary for running an enterprise.
What are the basic resources required to start any enterprise?
The most basic resources required to commence any enterprise are labor, capital, and land.
Can you name two state-level organizations that provide information about infrastructural facilities?
Yes, two such organizations mentioned are the District Industries Centre (DIC) and the Electricity Board (EB).
What does 'mobilisation of resources' mean?
It refers to the process of obtaining resources from providers like landlords, financiers, and laborers using various mechanisms to implement the organization's work and achieve its goals.
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