ISC Class 12 Syllabus 2028 Entrepreneurship

ISC
INDIAN SCHOOL CERTIFICATE
EXAMINATION

YEAR 2028

ENTREPRENEURSHIP (859)

Developed by:
Research, Development and Curriculum Division (RDCD)
CISCE

January 2026
____________________________________________________________________________________________

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Minimum monitoring.
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Catering to the needs of the children.
Giving freedom to experiment with new ideas
and practices.
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experience.
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aspirations.

CLASS XII

There will be two papers in the subject:
Paper I - Theory: 3 hours ……70 marks
Paper II- Project Work ………30 marks

PAPER I (THEORY) : 70 Marks
S.No. UNIT WEIGHTAGE
1. Enterprise Formation and Business Set-up 15 Marks
2. Entrepreneurial Ecosystem 15 Marks
3. Finance and Business Arithmetic 10 Marks
4. Entrepreneurial Marketing 15 Marks
5. Enterprise Growth Strategies 10 Marks
6. Enterprise Exit Strategies 5 Marks
TOTAL 70 Marks

1. Enterprise Formation and Business Set-up
Forms of business organisations; The Entrepreneurial Life Cycle
(i) Forms of business organisations in the private sector: Meaning, features and distinction between Sole
Proprietorships, Partnership, Limited Liability Partnership (LLP), One Person Company (OPC), Private
Limited Company, Public Limited Company, Company limited by shares, Company limited by guarantee,
Hindu Undivided Family (HUF), Family Managed Businesses.
(ii) The Entrepreneurial Life Cycle: Purpose and characteristics of the four stages (Idea, Launch, Growth,
and Exit.)

2. Entrepreneurial Ecosystem
Entrepreneurship Opportunities; Bottom of Pyramid; Opportunities and challenges for entrepreneurs in the
impoverished socio-economic group; Entrepreneurial Environment; Current Entrepreneurship Trends; Indian
Startup Ecosystem
(i) Entrepreneurship Opportunities: Opportunity sensing, environment scanning, problem identification, idea
fields, trend identification, creativity and innovation, and choosing the best opportunity.
(ii) Bottom of Pyramid (BOP): Meaning and assumptions of BOP.
(iii) Opportunities for entrepreneurs in the impoverished socio-economic group: Affordable products and
services, product redesign and innovation - frugal/jugaad solutions, new market creation, inclusive
business models, and access to technology.
(iv) Challenges for entrepreneurs in the impoverished socio-economic group: Distribution in remote or
underdeveloped areas, adapting to local cultures and literacy levels, thin profit margins, and risk of
exploitation if not handled ethically.
(v) Entrepreneurial Environment: Political, economic, social, technological, legal, and environmental
(PESTLE).
(vi) Current Entrepreneurship Trends
(a) Niche Market
(b) The Gig Economy

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(c) Subscription-based Business
(d) Social Commerce.
(A basic understanding of the above concepts.)
(vii) Indian Startup Ecosystem: A basic understanding of the ecosystem comprising high innovation in frugal
and scalable solutions, focus on tier 2 and tier 3 cities for inclusive growth, strong presence in B2B and
B2C models, integration of social entrepreneurship, impact-driven startups, startup incubators, and
accelerators).

3. Finance and Business Arithmetic
Financial Literacy; Common Terminology in Finance; Sources of Finance: Business Arithmetic
(i) Financial Literacy: Meaning and importance of financial literacy to entrepreneurs - reducing financial
errors, achieving entrepreneurial goals, and enhancing financial health.
(ii) Common terminology in finance: Budgeting, cash flow management, return on investment, risk
management, credit management, break-even point, collateral, bootstrapping, unit economics, burn rate,
runway and zero balance account.
(A basic understanding of the above terminology).
(iii) Sources of Finance:
(a) Internal sources of finance/Owned Capital: Equity shares, preference shares, and retained profit.
(b) External sources of finance/Borrowed Capital: Financial institutions, commercial banks, family and
friends, overdrafts, venture capitalists, angel investors, crowdfunding, trade credit, factoring, public
deposits, debentures, government grants
(c) Non-banking financial companies (NBFCs)
(d) International Financing: Global Depository Receipts (GDRs) and American Depository Receipts
(ADRs)
(A basic understanding of the above sources of finance)
(iv) Business Arithmetic
(a) Working Capital
(b) Inventory Control and EOQ
(c) Return on Investment
(d) Return on Equity
(e) Inventory Turnover Ratio
(Simple arithmetical computation of the above financial metrics and ratios.)

4. Entrepreneurial Marketing
Entrepreneurial Marketing; Market Sizing; Market Positioning Tools; Marketing Strategies; Forms of
Entrepreneurial Marketing; Types of Digital Marketing; Marketing Promotional Tools.
(i) Entrepreneurial Marketing: Meaning only.
(ii) Market Sizing: Market potential, Total Addressable Market (TAM), Serviceable Available Market (SAM),
and Serviceable Obtainable Market (SOM).
(iii) Market Positioning Tools: Unique Selling Proposition (USP), Points of Parity (PoP), and Points of
Difference (PoD).
(iv) Marketing Strategies: Differentiation strategies, Blue Ocean, and Red Ocean.
(v) Forms of Entrepreneurial Marketing: Guerrilla Marketing, Buzz Marketing, and Viral Marketing.
(vi) Types of Digital Marketing: Email, Social media, Short Message Service (SMS), Search Engine
Optimisation (SEO), and Pay-per-click.

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(vii) Marketing Promotional Tools: Branding, Advertising, Sales Promotion, Public Relations, Direct
Marketing, and Customer Relationship Management (CRM).

5. Enterprise Growth Strategies
Franchising; Mergers and Acquisitions; Change Management
(i) Franchising:
(a) Concept of franchising; the franchisee and franchisor relationship; advantages and disadvantages
of franchising to the franchisee and the franchisor.
(b) Types of franchise models: Company Owned Company Operated (COCO), Company Owned
Franchise Operated (COFO), Franchise Owned Company Operated (FOCO), Franchise Owned
Franchise Operated (FOFO).
(A basic understanding of the above types of franchise models).
(ii) Mergers and Acquisitions:
(a) Mergers and Acquisitions: Meaning and distinction between mergers and acquisitions.
(b) Types of Mergers and Acquisitions: Horizontal, Vertical and Conglomerate.
(c) Motives for Mergers and Acquisitions: Unlocking synergies, higher growth, stronger market, power
diversification, and tax benefits.
(d) Advantages of Mergers and Acquisitions: Expanding market reach, diversification, economies of
scale, enhanced financial capacity, and access to new technologies and innovation.
(e) Disadvantages of Mergers and Acquisitions: Potential for culture clash, management issues,
regulatory hurdles, financial risks, loss of brand identity, and employee turnover.
(iii) Change Management
(a) Meaning of Change Management
(b) Reasons for resistance to change:
− Organisational reasons: fear of the unknown, costs involved, management’s lack of faith in
change, and constraints of organisational structure.
− Individual reasons: habits and conventions, fear of the unknown, zero tolerance to change, fear
of economic loss, redundancy of skills, egoistic attitude, peer pressure, and social displacement.
(c) Overcoming resistance to change: Brief explanation of Kurt Lewin’s model of change, ADKAR model
for change and Kotter’s Eight Step Process.

6. Enterprise Exit Strategies
Family succession, Management buyout (MBO), Initial Public Offering (IPO), and Liquidation.
(A basic understanding of the above exit strategies).

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PAPER II (PROJECT WORK) : 30 MARKS
Candidates are expected to complete any two of the given three assignments.
The project work/report will be assessed by the teacher and a Visiting Examiner appointed locally and
approved by CISCE.
ASSIGNMENT -1
Written Project Work
The hard copy of the project work should be submitted by the candidate to the subject teacher.
Marks allocation for the project [15 marks]:
Overall format 2 marks
Content 4 marks
Data Analysis and Interpretation 3 marks
Findings and Recommendations 3 marks
Viva-voce based on the Project 3 marks

A list of suggested Projects is given below:
1. Conduct a survey in the current market to identify consumer problems or unmet consumer needs. Propose a
new business idea that fills this gap by creating an entrepreneurial opportunity.
2. Conduct a comparative study of digital marketing platforms commonly used by small businesses or startups.
3. Research any two companies that have been classified as Unicorns/Indicorns. Prepare a report on the strategies
they adopted to achieve their exceptional goals.
4. Study the impact of the business environment on any two startups that failed. Research the factors that led to
their failure despite being considered “overnight stars” in the market.
5. Prepare a comparative study of any two entrepreneurial ventures with reference to their inventory ratios,
profitability ratios and return on investment.

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ASSIGNMENT 2
Report on a Field Visit / Study Tour
Marks allocation for the project [15 marks]:
Presentation of the Report 2 marks
Contents of the Report 5 marks
Findings and Recommendations 5 marks
Viva-voce based on the Project 3 marks

A list of suggested visits is given below:
1. Organise a campaign in a secondary school to raise awareness about business opportunities available in the
region/sector and to encourage aspiring entrepreneurs.
2. Visit a social entrepreneur/NGO and conduct an interview to learn about their journey from ideation to launch.
After the interview, students must present their observations to their peers in the presence of the subject
teacher. Photographs or a video clip of the interview must also be presented as evidence.
3. Visit any two popular franchises of companies and classify them as COCO, COFO, FOCO, FOFO. Evaluate
the characteristics of these forms of franchising along with their merits and demerits for both the franchisor
and franchisee.
4. Explore the local supermarket in the local area. Conduct market research on the following food categories:
- Ready-to-eat food
- Ready-to-cook food
Develop a business plan. Create a fictitious website and upload the brand name, slogan, logo, and the list of
products viz-a-viz your business plan.
5. Visit a business that has been part of a merger or acquisition. Study the impact of the merger or acquisition
on its leadership structure, growth, and customer experience.

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ASSIGNMENT 3
Internship
Student are expected to complete internship in an organisation that does not belong to their family during the
vacation period for a duration of 7 to 10 days.
They must follow the instructions given to them for any work assigned during that time and observe the working
of the organisation.
Students have to prepare a report based on their observations about the organisation and its various departments.
The feedback form that is provided in the annexure is to be certified an authorised representative of the
Company/Firm and submitted to the subject teacher.
The school may also certify the successful completion of the internship. The students may include this experience
in their CV.
Internship Evaluation Form
Name of Student:
Name of the Company/Firm:
Date of Internship From………………… To…………………
Performance Evaluation of the Candidate:
Parameter Excellent Very good Good Fair
Punctuality and
regularity
Communication
Skills
Quality of Work
Adaptability to Task
Initiative and
Proactivity

Observations apart from the above ________________________________________

Date:

Place: Seal of the Organisation Signature

Marks allocation for the Internship (15 marks)
Feedback from the Organisation 4 marks
Contents of the Report 4 marks
Findings and Recommendations 4 marks
Viva-voce based on the Internship 3 marks
(This is a suggestive format. The school may modify it to suit its requirements)
NOTE: No question paper for Project Work will be set by CISCE.

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SAMPLE TABLE FOR PROJECT WORK

S. Unique PROJECT/ASSIGNMENT 1 PROJECT /ASSIGNMENT 2 TOTAL
No. Identification MARKS
Number A B C D E F G H I J
(Unique ID) of Teacher Visiting Average Viva-Voce Total Teacher Visiting Average Viva-Voce Total (E + J)
the candidate Examiner Marks by Visiting Marks Examiner Marks by Marks
(A + B ÷ 2) Examiner (C + D) (F + G ÷ Visiting (H + I)
2) Examiner
12 12 Marks* 12 Marks 3 Marks 15 Marks 12 12 Marks* 12 Marks 3 Marks 15 Marks 30 Marks
Marks* Marks*
1

2

3

4

5

6

7

8

9

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*For breakup of the 12 Marks to be awarded separately by the Teacher and the Visiting Examiner, please refer to the table giving the criteria for mark allocation
for each project/assignment.

NOTE: VIVA-VOCE (3 Marks) for each Project/Assignment is to be conducted only by the Visiting Examiner, and should be based on the Project
only.

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