Key Differences between Entrepreneur and Manager
15 differences between an Entrepreneur vs Manager:
1) Meaning: An Entrepreneur is one who creates an Enterprise
Manager controls and administers the Enterprise
2) Focus: An Entrepreneur focuses on starting and establishing an enterprise.
Manager's focus area is ongoing operations of the existing business.
3) Resource Orientation: An Entrepreneur pursuits opportunity beyond resources controlled. He/She doesn't get constrained by resources.
A manager uses resources available to him/her. A Manager gets constrained by resources at disposal.
4) Primary Motive: An Entrepreneur'ss Primary motive is Achievement while Manager's Prime Motive is Power.
5) Approach to task: An Entrepreneur can afford to have an informal approach to the task but Manager should always approach task formally.
6) Status: An Entrepreneur is Owner of the Enterprise while Manager is an Employee.
7) Primary Econmic Reward: Profit is the main reward of an Entrepreneur while Manager work for Salary.
8) Decision Making: Entrepreurs can take decisions based on their Intutions but Managers can't afford to do that. They always take calculative decisions.
9) Risk Orientation: Entrepreneur is Risk-Taker while Manager is Risk-Averse.
10) Driving Force: Entrepreneur is driven by Creativity and innovation while Manager is driven by maintaining Status Quo. He is happy with maintaining existing affairs.
11) Specialization: An entrepreneur should know all the aspects of business. Manager needs to be specialized in his department.
12) Scale of Operations: An Entrepreneur starts a small business and when it gets larger he recruits Manager. Manager comes into play only when Organization grows.
13) Primary Skill requirements: Entrepreneurs should have creative and innovative mind, should be able to spot the opportunities. They should be able to mobilize resource and should have good negotiation skills. Manager should have good Organizing, System Design,Operating procedures and people management skills.
14) Approval: Entrepreneurs do not need anyone's approval to go ahead with his ideas while Managers needs approval from their bosses to implement their ideas.
15) Independence: Entrepreneur is an Independent person while Manager reports to his Boss. He can't reallly enjoy freedom of work as Entrepreneur does.