The term ‘entrepreneur’ is usually compared with the term ‘manager’, as they are the chief personalities in an enterprise that help in the management, organisation, control and administration of the enterprise. An entrepreneur is a person with abilities, idea and energy to take any peril to attempt that idea, to turn it into reality.
The principal difference between entrepreneur and manager lies in their standing, i.e. an entrepreneur is the owner of the company and the manager is an employee of the organisation.
Both modes have their own merits and demerits, here, the students can learn the meaning of entrepreneur and manager.
An entrepreneur is a person who builds a new organisation by gathering data (i.e. land, labour and capital) for manufacturing purposes. He understands all risk and risk, in order to gain profit and growth of the company venture by recognising new possibilities and consolidating resources for the purpose of benefiting them.
Also Read: What is Entrepreneurship?
By the term ‘manager’ we mean a person who gets the things done through his assistants, with the purpose of achieving business goals efficiently. The 5 principal functions of a manager are planning, organising, directing and motivating, coordination and control.
This article is a ready reckoner for the students to learn the comparison between entrepreneur vs manager.
|Meaning||An entrepreneur is a person who builds a new organisation by gathering data (i.e. land, labour and capital) for manufacturing purposes.||By the term ‘manager’ we mean a person who gets the things done through his assistants, with the purpose of achieving business goals efficiently.|
|Focus||Starting up a business||Ongoing operations|
The above mentioned is the concept, that is elucidated in detail about ‘Difference between entrepreneur and manager’ for the Commerce students. To know more, stay tuned to BYJU’S.