CBSE Class 11 Entrepreneurship Chapter 7: Resource Mobilization NCERT Solutions
This chapter, "Resource Mobilization," for CBSE Class 11 Entrepreneurship, delves into the fundamental aspects of acquiring and managing the necessary resources for a business venture. It begins by defining what constitutes 'resources' and explains why entrepreneurs critically need them for both establishing and operating an enterprise. The solutions cover the process of 'resource mobilization,' which involves obtaining resources from various providers like financiers and laborers through different mechanisms to achieve organizational goals. It also highlights key state-level organizations that offer information on infrastructural facilities and discusses various forms of professional assistance and contractual arrangements an entrepreneur might utilize. The chapter emphasizes the importance of procuring the right resources at the right time and price, ensuring their optimal utilization. These solutions are designed to provide students with a clear understanding of resource management, aiding in their exam preparation by covering all textbook questions with detailed explanations.
Quick info
| Board | CBSE |
|---|---|
| Class | Class 11 |
| Subject | Entrepreneurship |
| Session | 2026 |
| Language | English |
| Type | NCERT Solutions |
| Chapter | 7. Resource Mobilization |
Chapter summary
Chapter 7, "Resource Mobilization," of the CBSE Class 11 Entrepreneurship NCERT Solutions focuses on understanding and acquiring the essential elements for starting and running a business. It covers the definition and necessity of resources, the process of mobilization, and the types of assistance available, including professional and contractual arrangements. The solutions explain how to determine resource requirements and select physical resources, providing examples and key considerations for entrepreneurs.
Learning outcomes
- Understand the definition and importance of resources in entrepreneurship.
- Explain the process and mechanisms of resource mobilization.
- Identify state-level organizations providing information on infrastructural facilities.
- Recognize different types of professional assistance and contractual arrangements.
- Determine the factors involved in selecting and procuring physical resources.
- List basic resources required to commence an enterprise.
Topics covered
Paper topics
- Definition of Resources
- Importance of Resources for Entrepreneurs
- Concept of Resource Mobilization
- State Level Organizations for Infrastructure
- Types of Professional Assistance
- Contractual Arrangements
- Physical Resources
- Basic Resources for Enterprise
- Factors in Determining Resource Requirements
- Selection of Physical Resources
Important topics
- Definition and Importance of Resources
- Resource Mobilization Process
- Physical and Basic Resources
- Factors for Resource Procurement
- Professional and Contractual Assistance
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Questions and Solutions
Question 1
(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 be obtained?
(i) Resources are tangible or non-tangible means 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 DIC (District Industries Centre) and EB (Electricity Board).
(v) Professional assistance can be obtained through various contractual or third-party arrangements based on the entrepreneur's needs.
Question 2
(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.
(i) Physical resources are tangible assets created by human ability and skills, essential for running an enterprise. Examples include buildings and machinery.
(ii) Determining resources requires considering the right type, procurement at the right time and price, and ensuring optimum utilization of acquired resources.
(iii) The basic resources required to commence any enterprise are labor, capital, and land.
(iv) Expert professional assistance for a school includes: teachers (regular/part-time), transport services (contractual/lease), land and building (lease/third party), and unskilled staff (contractual).
(v) Factors to consider when selecting physical resources include: capital cost, availability, suitability for the purpose, maintenance requirements, and expected lifespan.
Common mistakes
- Not clearly defining 'resources' beyond tangible assets.
- Underestimating the importance of timely and cost-effective resource procurement.
- Failing to consider the optimal utilization of acquired resources.
- Overlooking the role of professional assistance in resource assessment.
Revision tips
- Focus on the definitions of 'resources' and 'resource mobilization'.
- Memorize the examples of physical resources and basic enterprise resources.
- Understand the different types of contractual and professional arrangements.
- Review the factors influencing resource determination and selection.
- Identify key state-level organizations mentioned for infrastructural support.
Practice MCQs
Q1. What is the primary role of resources in an organization?
Explanation: Resources are essential means, tangible or non-tangible, required to support an organization's activities and achieve its predetermined goals.
Q2. Which of the following is an example of a physical resource?
Explanation: Physical resources are tangible assets created by human ability and skill, such as buildings, plants, and machinery, required for running an enterprise.
Q3. Resource mobilization involves:
Explanation: Resource mobilization is the process of obtaining necessary resources from providers like landlords, financiers, and laborers through different mechanisms to implement organizational work.
Q4. Which factor is crucial for procuring resources?
Explanation: The procurement of resources should be done at the right time, at the right price, and ensuring their fuller utilization.
Q5. DIC stands for:
Explanation: DIC, or District Industries Centre, is a state-level organization that provides information about infrastructural facilities available to entrepreneurs.
Frequently asked questions
What are resources in the context of entrepreneurship?
Resources are 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. Mobilization ensures these resources are acquired.
What are some examples of physical resources?
Physical resources include tangible assets like buildings, plants, and machinery, which are created by human abilities and skills and are essential for running an enterprise.
What does 'mobilisation of resources' mean?
It refers to the process of obtaining resources from providers like landlords, financiers, and laborers through various mechanisms to implement the organization's work and achieve its goals.
Can you name two state-level organizations that provide information on infrastructural facilities?
Yes, two such organizations are DIC (District Industries Centre) and EB (Electricity Board).
What are the basic resources needed to start any enterprise?
The most basic resources required are labor, capital, and land.
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