Wednesday, February 11, 2026

Entrepreneurship in the Digital Age


7.1 Exploring Entrepreneurship in the Digital Age

7.1.1 Explain entrepreneurship and its importance in the economy.

7.1.2 Explore famous entrepreneurs and their success stories.

7.2 The Digital Landscape

7.2.1 Explain market trends, consumer needs, and emerging industries.

7.2.2 Apply various idea generation techniques to identify business opportunities.

7.2.3 Analyse the components of a Business Model Canvas (BMC).

7.2.4 Design business models using the Business Model Canvas (BMC).

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7.1 Exploring Entrepreneurship in the Digital Age

7.1.1 Explain entrepreneurship and its importance in the economy.

✅ What is Entrepreneurship?

Entrepreneurship means starting a new business using your own idea to earn profit.

A person who starts and manages a business is called an entrepreneur.

An entrepreneur:

  • Thinks of a new idea 💡

  • Takes risk

  • Invests money and time

  • Tries to earn profit

  • Solves people’s problems

✅ Example of Entrepreneurship

If a student notices that classmates need affordable study notes, and starts selling printed notes at low price, that student becomes an entrepreneur.

If someone creates a mobile app for online tutoring, that is also entrepreneurship.

✅ Types of Entrepreneurship

  1. Small Business Entrepreneurship

    • Small shops

    • Home bakery

    • Tuition center

  2. Digital Entrepreneurship

    • Online store

    • YouTube channel

    • Freelancing

    • App development

  3. Social Entrepreneurship

    • Business that helps society

    • Example: Company that makes eco-friendly bags to reduce plastic

✅ Importance of Entrepreneurship in the Economy

Entrepreneurship is very important for a country.

1️⃣ Creates Jobs

When businesses grow, they hire workers.

Example:
A clothing brand hires:

  • Designer

  • Tailor

  • Delivery person

  • Social media manager

This reduces unemployment.

2️⃣ Increases National Income

Businesses produce goods and services.
When people buy them, money moves in the economy.

More businesses = more income = stronger economy.

3️⃣ Encourages Innovation

Entrepreneurs bring new ideas.

Example:

  • Foodpanda changed food delivery.

  • Online banking changed payment systems.

4️⃣ Improves Standard of Living

When people earn more money, they:

  • Buy better products

  • Get better education

  • Live better lives

5️⃣ Promotes Competition

When many businesses exist, they compete.
Competition improves:

  • Quality

  • Price

  • Customer service

7.1.2 Explore famous entrepreneurs and their success stories.

✅ What Can We Learn From Entrepreneurs?

Successful entrepreneurs:

  • Worked hard

  • Faced failure

  • Did not give up

  • Took risks

  • Used technology

1️⃣ Bill Gates (Microsoft)

  • Loved computers from childhood.

  • Started Microsoft.

  • Made Windows software.

  • Helped computers reach homes and offices.

🔹 Lesson: Follow your passion.

2️⃣ Steve Jobs (Apple)

  • Started Apple company.

  • Created iPhone, iPad, MacBook.

  • Focused on design and innovation.

🔹 Lesson: Think differently.

3️⃣ Jack Ma (Alibaba)

  • Failed many times.

  • Rejected from jobs.

  • Started Alibaba (online shopping platform).

  • Became billionaire.

🔹 Lesson: Failure is part of success.

4️⃣ Pakistani Example – Airlift / Bykea / Careem

  • Used mobile apps.

  • Solved transport and delivery problems.

  • Used digital technology.

🔹 Lesson: Technology creates new business opportunities.

7.2 The Digital Landscape

7.2.1 Explain market trends, consumer needs, and emerging industries.

✅ 1. Market Trends

Market trend means what is becoming popular in the market over time.

Trends change with:

  • Technology

  • Fashion

  • Customer behavior

Examples:

  • Online shopping is increasing.

  • Digital payments are replacing cash.

  • Healthy food is becoming popular.

Businesses must follow trends to survive.

✅ 2. Consumer Needs

Consumers are customers.

Consumer needs are:

  • What customers want

  • What problems they want solved

Types of Consumer Needs:

  1. Basic Needs – Food, clothes, shelter

  2. Comfort Needs – Fast delivery, easy payment

  3. Emotional Needs – Brand trust, good service

👉 Example:
Students need affordable internet packages for online study.

✅ 3. Emerging Industries

Emerging industries are new and growing industries.

Because of technology, many new industries are growing:

  • E-commerce (Daraz)

  • Digital marketing

  • Freelancing (Fiverr, Upwork)

  • Artificial Intelligence

  • Online education

  • Content creation (YouTube, TikTok)

These industries create many new job opportunities.

7.2.2 Apply various idea generation techniques to identify business opportunities.

To start a business, we need a good idea.

✅ 1. Brainstorming

Think of many ideas freely.
Write all ideas without judging.

Example:

  • Selling snacks

  • Online tutoring

  • Graphic designing

  • Handmade crafts

✅ 2. Identify Problems

Every business solves a problem.

Ask:

  • What problem do people face?

  • How can I solve it?

Example:
Students cannot find affordable notes → Start selling notes online.

✅ 3. Study Market Trends

Observe what is popular.

Example:
If skincare products are trending → Start organic skincare business.

✅ 4. Improve Existing Products

Take an old product and make it better.

Example:
Instead of normal water bottles → Sell temperature-control bottles.

✅ 5. Survey Customers

Ask people:

  • What do you need?

  • What problems do you face?

Their answers can give business ideas.

7.2.3 Analyse the components of a Business Model Canvas (BMC).

Business Model Canvas is a planning tool that explains how a business works.

It has 9 building blocks.

1️⃣ Customer Segments

Who will buy your product?

Example:
Teenagers, working women, students.

2️⃣ Value Proposition

What special value are you giving?

Example:
Affordable, high-quality school bags.

3️⃣ Channels

How will you sell?

Example:
Instagram, website, shop.

4️⃣ Customer Relationships

How will you keep customers happy?

Example:
Fast replies, discounts, loyalty cards.

5️⃣ Revenue Streams

How will you earn money?

Example:
Selling products, subscription fees.

6️⃣ Key Resources

What do you need?

Example:
Money, machine, staff, website.

7️⃣ Key Activities

What work will you do daily?

Example:
Manufacturing, marketing, delivery.

8️⃣ Key Partners

Who will help you?

Example:
Suppliers, delivery companies.

9️⃣ Cost Structure

What are your expenses?

Example:
Rent, salaries, electricity.

7.2.4 Design business models using the Business Model Canvas (BMC).

Let’s design a simple business.

Example: Online Study Notes Business

Customer Segments:

Grade 9 and 10 students.

Value Proposition:

Affordable, easy-to-understand notes.

Channels:

WhatsApp, Instagram, Google Drive.

Customer Relationship:

Quick response, free sample notes.

Revenue Streams:

Selling PDF notes.

Key Resources:

Laptop, internet, printer.

Key Activities:

Writing notes, marketing, sending PDFs.

Key Partners:

Printing shop, internet provider.

Cost Structure:

Printing cost, internet bill.

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