Distinguish between entrepreneur and entrepreneurship

Distinguish between entrepreneur and entrepreneurship

Entrepreneurship is the process of setting up one’s own business as distinct from pursuing any other economic activity, be it employment or practising some profession. The person who set-up his business is called an entrepreneur. The entrepreneur is usually seen as an innovator, a source of new ideas, goods, services, and business/or procedures.

There are some differences between the entrepreneur and entrepreneurship. These are given below:

Entrepreneur:

  • Definition: An entrepreneur is a person who creates something new and assumes the risks and rewards associated with that innovation.
  • Subject: an Entrepreneur is a person.
  • Position: Entrepreneur is an organizer.
  • Innovation: Entrepreneur is an innovator.
  • Risk: Entrepreneur is risk-bearer.
  • Creation: Entrepreneur is a creator.
  • Preceding: Entrepreneur precedes entrepreneurship.

Entrepreneurship:

  • Definition: Entrepreneurship is the process of creating something new and assuming the risks and rewards.
  • Subject: Entrepreneurship is a process.
  • Position: Entrepreneurship is an organization.
  • Innovation: Entrepreneurship means innovation.
  • Risk: Entrepreneurship means risk-bearing.
  • Creation: Entrepreneurship means creation.
  • Preceding: Entrepreneurship is concerned with the performance and coordination of the entrepreneurial functions.

Thus, we can say that Entrepreneur and Entrepreneurship are different from each other but they are very much inter-related.

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