Jagran Josh
CBSE Class 11 MSME and Business Entrepreneurship Revision Notes: Free PDF download link for Revision Notes of Class 11 Business Studies Chapter 9 has been attached here. Students can also find links to important resources for the preparation of the annual examinations in 2024.
MSME and Business Entrepreneurship Class 11 Notes: Study materials play a crucial role in determining the performance of a student in an examination. The better and well-prepared study materials you have, the better your performance will be in examinations. Preparing study materials can be a hell of a task, it can consume a lot of time. Thus, students can always refer to study materials available online.
Here, we have presented Revision Notes for CBSE Class 11 Business Studies Chapter 9, MSME and Business Entrepreneurship. Students can find attached links to revision notes of other chapters as well. Also, find attached links to other study materials like MCQs and Mind Maps.
Related:
Mind Maps for CBSE Class 11 Business Studies 2023-2024(PDF)
MCQs for CBSE Class 11 Business Studies 2023-2024(PDF)
Revision Notes for CBSE Class 11 Business Studies Chapter 1
Revision Notes for CBSE Class 11 Business Studies Chapter 2
Revision Notes for CBSE Class 11 Business Studies Chapter 3
Revision Notes for CBSE Class 11 Business Studies Chapter 4
Revision Notes for CBSE Class 11 Business Studies Chapter 5
Revision Notes for CBSE Class 11 Business Studies Chapter 6
Revision Notes for CBSE Class 11 Business Studies Chapter 7
Revision Notes for CBSE Class 11 Business Studies Chapter 8
Revision Notes for CBSE Class 11 Business Studies Chapter 9 are presented below:
What are MSMEs?
MSMEs stand for Micro, Small, and Medium Enterprises. It indicates the size of a business, according to national standards. Several parameters can be used to measure the size of business units. These include the number of persons employed in the business, capital invested in the business, turnover of the business, etc.
Role of MSMEs
- They assist in the balanced regional development of the country. Small industries in India account for 95 percent of the industrial units in the country.
- MSMEs are the second largest employers of human resources, after agriculture. They are more labor intensive and less capital
- MSMEs in our country supply an enormous variety of products.
- They depend on locally available resources both material and labour which can be set up anywhere in the country.
- MSMEs provide ample opportunity for entrepreneurship
- MSMEs also enjoy the advantage of low-cost of production
- Due to the small size of the organisations, quick and timely decisions can be taken.
Problems associated with MSMEs
- Non-availability of adequate finances.
- Difficulty in the procurement of raw materials
- Lacks managerial skills since it is mostly operated and managed by a single person.
- Low level of marketing due to lack of skills, resources, finance, and manpower.
- They lack quality since the focus is on cutting costs and keeping prices low.
- Due to a lack of marketing skills or lack of demand, many firms have to operate below full capacity due to which their operating costs tend to increase.
- These enterprises face competition not only from medium and large industries but also from multinational companies which are giants in terms of their size and business volumes.
Characteristics of Entrepreneurship
- Systematic activity
- Lawful and purposeful activity
- Innovation
- Organization of production
- Risk-taking
Intellectual Property Rights
(IP) refers to the creations of the human mind, like inventions, literary and artistic works, symbols, names, images, and designs used in business. They can be protected by the Government of India. Legal rights conferred on such products are called ‘Intellectual Property Rights’ (IPR).
Types of IPs
- Copyright– The copyright is an exclusive right of the creator to prohibit the unauthorized use of the content which includes reproducing and distributing copies of the subject matter. Literary, artistic, and dramatic works are protected under Copyright.
- Trademark– A trademark is any word, name, or symbol that helps us identify a brand. Trademarks also let us differentiate the goods of one company from another. A trademark helps in distinguishing similar products in the market from its competitors. Trademarks are categorized as conventional and non-conventional. Conventional trademarks are as follows: Words, color combinations, labels, logos, packaging, shape of goods, etc. Those trademarks that are not distinctive previously but start getting recognition with the passage of time are non-conventional trademarks, such as sound marks, dynamic marks, etc.
- Geographical Indication– GI is primarily an indication that identifies agricultural, natural, or manufactured products (handicrafts, industrial goods, and food stuffs) originating from a definite geographical territory, where a given quality, reputation or other characteristic are essentially attributable to its geographical origin. Goods protected and registered as GI are categorized into agricultural products, natural, handicrafts, manufactured goods, and food stuff.
- Patent– A ‘patent’ is an exclusive right granted by the Government which provides the exclusive ‘right to exclude’ all others and prevent them from making, using, offering for sale, selling, or importing the invention. For a product to be patent, it must be new, non-obvious, and must be capable of industrial application.
- Design– A ‘design’ includes shape, pattern, and arrangement of lines or colour combination that is applied to any article. The term of protection of a design is valid for 10 years, which can be renewed for further 5 years after the expiration of this term, during which a registered design can only be used after getting a license from its owner and once the validity period is over, the design is in the public domain.
- Plant variety– Plant Variety is essentially grouping plants into categories based on their botanical characteristics. This helps in conserving, improving, and making available plant genetic resources.
- Semiconductor Integrated Circuits Layout Design– A semiconductor is an integral part of every computer chip.
For complete Revision notes of Class 11 Business Studies Chapter 9, click on the link below.
Also find:
CBSE Class 11 Syllabus 2023-24 (All Subjects)
CBSE Class 11 Deleted Syllabus 2023-24 (All Subjects)
NCERT Class 11 Rationalised Content 2023-2024 (All Subjects)
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