Distinguish between the following.
Entrepreneur and manager.
ANSWER:
Basis of Difference
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Entrepreneur
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Manager
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Status
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Is the owner of a business.
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Is not the owner of any business but works as an employee in the organisation.
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Qualification required
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Should be hardworking and optimistic.
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Educational or technical skills are required.
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Motive
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The motive of an entrepreneur is to successfully run the organisation.
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The motive of a manager is to give services to the organisation.
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Benefits
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Earns profit.
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Earns a fixed salary.
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Risk bearing
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The risk related to the business is borne by the entrepreneur.
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The manager does not bear any risk of the business.
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Decision making
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Has the power to take decisions on the organisation's behalf.
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Does not have the authority to take decisions on the organisation’s behalf.
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