The main difference between entrepreneur and manager lies in their position, that is, while an entrepreneur is the owner of the organization and therefore he is to bear all the risks and uncertainties in the business, the manager is an employee of the company.
|Sense||The entrepreneur refers to a person who creates a business, taking financial risks in order to make a profit.||Manager an individual who takes responsibility for controlling and administering the organization.|
|Focus||Starting a business||Operations in progress|
|Approach to the task||Informal||Formal|
|Driving force||Creativity and innovation||Preserve the status quo|
|Risk orientation||Risk lover||Risk averse|
Definition of entrepreneur
The term "entrepreneur" is a French origin meaning "to go in the middle" or "among the borrowers". An entrepreneur is a person who creates a new business by assembling inputs (ie land, labor and capital) for production purposes. It assumes all the risks and uncertainties in order to achieve the profit and growth of the business venture, identifying new opportunities and combining resources in order to capitalize on them. Innovate new ideas and business processes.
They are classified as an innovative entrepreneur, imitating the entrepreneur, the fabian entrepreneur, the drone entrepreneur. In addition, they can be classified based on business, technology, motivation, area, development stages, etc. Following are the characteristics of a successful entrepreneur: Risk lover
- Commitment and Conviction
- Ability to analyze
- Initiative and independence
- High personal efficiency
- High need for success
Definition of Manager
By the term "manager" we mean a person who gets things through his subordinates, with the aim of achieving business objectives efficiently and effectively. The five main functions of a manager are planning, organization, direction and motivation, coordination and control.
The manager responsible for the particular division, unit or department of the company. It can command workers directly, or direct supervisors, who will command workers. Therefore, he is the one under whose supervision his subordinates work and report to him. Managers can be top level managers, middle level managers, low level managers.
Key differences between entrepreneur and manager
The difference between entrepreneur and manager can be clearly traced for the following reasons:
- A person who sets up a business, taking a financial risk to make a profit, is called an entrepreneur. An individual who takes responsibility for controlling and administering the organization known as manager.
- An entrepreneur focuses on starting the business, while the main objective of a manager is managing ongoing operations.
- The results work as a motivation for entrepreneurs. On the other hand, the main motivation is power.
- The manager's approach to the formal task, which is exactly the opposite of an entrepreneur.
- An entrepreneur is the owner of the company while a manager is only an employee of the company.
- A manager gets wages as compensation for the work he does. Conversely, profit is the reward for the entrepreneur.
- The decisions of an entrepreneur are guided by inductive logic, courage and determination; this is why the intuitive decision-making process. On the contrary, the decision-making process of a calculation manager, as guided by deductive logic, collection of information and advice.
- The main driving force of an entrepreneur is creativity and innovation. On the contrary, a manager maintains the current state of affairs.
- While the entrepreneur at risk, the manager averse to risk.
After examining the previous points, it is quite clear that the entrepreneur and the manager are two different people within an organization. So they can't be juxtaposed. While managers deal with the management of available resources, the entrepreneur focuses on identifying and capitalizing on opportunities.