Differences between Entrepreneurship and Management - QS Study
QS Study

Differences between Entrepreneurship and Management

Entrepreneurship

  • An entrepreneur is the owner of the enterprise.
  • Focus on Business start-up.
  • The entrepreneur does not feel constrained by resource. Entrepreneur mobilizes the resources.
  • Informal approach to the task.
  • Scale of operations in Small business.
  • An entrepreneur being the owner of the enterprise assumes all risks and uncertainty involved in running the enterprise.
  • An entrepreneur needs to possess qualities and qualifications like high achievement motive, originality in thinking, foresight, risk -bearing ability and so on.

 

Management

  • A manager is the servant in the enterprise owned by the entrepreneur.
  • Focus on Ongoing operations of an existing business
  • A manager is constrained by the resources at his disposal
  • Formal approach to the task
  • Scale of operations in large business
  • A manager as a servant does not bear any risk involved in the enterprise.
  • A manager needs to possess distinct qualifications in terms of sound knowledge in management theory and practice.