Friday, June 10, 2011

What are the differences between the entrepreneurs?

Make a table identifying the differences between teh entrepreneurs and managers. or,
What are the differences between the entrepreneurs?

Differences between the entrepreneurs and managers:
There are some differences between the entrepreneurs and the managers. The following table will be helpful in understanding the differneces between the entrepreneurs and managers:-


The main motive of an entrepreneur is to start a venture by setting up an enterprise. He understands the venture for his personal gratification.
The main motive of a manager is to render his services in an enterprise already set up by someone else.

An entrepreneur is owner of the enterprise
A manager is the servant in the enterprise owned by the entrepreneur.

An entrepreneur being the owner of the enterprise assumes all risks and uncertainty involved in running the enterprise.
A manager as a servant does not bear any risk involved in the enterprise.

The reward an entrepreneur gets for bearing risks involved in the enterprise is profit which is highly uncertain.
A manager gets salary as reward for the services rendered by him in the enterprise. Salary of a manager is certain and fixed.

Entrepreneur himself thinks over what and how to produce goods to meet the changing demands of the customers. Hence, he acts as an innovator also called a ‘change-agent’
But, what a manager does is simply to execute the plans prepared by the entrepreneur. Thus, a manager simply translates the entrepreneur’s ideas into practice.

An entrepreneur needs to possess qualities and qualifications like high achievement motive, originality in thinking, foresight, and risk-bearing ability and so on.
On the contrary, a manager needs to possess distinct qualifications in terms of sound knowledge in management theory and practice.

Source: Here

Pirates of the Caribbean Trilogy (Seven-Disc Blu-ray)Harry Potter and the Deathly Hallows, Part 1Tangled

No comments:

Post a Comment