Weekly Assignment2
Distinguish Between the following:
1. Entrepreneur and Manager
Title Entrepreneurs
Definition A business entrepreneur is a person
who tries to transform an idea into
reality by making use of the
opportunity and resources available to
him.
Status The entrepreneur is in the status of the
owner.
Responsibilitie The responsibility of the entrepreneur
s is much more because policies are
determined by him and he is also the
owner of the industry or business
Control The final control of various activities of
the industry is of the entrepreneur.
Mistake An entrepreneur is allowed to make
mistakes as his mistakes can educate
him better in his upcoming decisions
Education It is not necessary that each
entrepreneur who owns a successful
leading business needs to be well
educated in their work.
Risk-Taking As a nature of work is concerned an
entrepreneur’s job is to take risks in
their business so that the company can
reach better heights of its own
dimension.
Manager
Managers, on the other hand, are very
much different from entrepreneurs on the
basis of their work culture and style of
task execution.
The manager or organizer is the status of
the employee.
The responsibility of the manager is much
lesser than that of an entrepreneur
because his function is to implement the
policies formulated by the entrepreneur
and that too in the capacity of an
employee.
Control of the managers is on activities
related to management, provided powers
have been delegated properly.
Manger is not supposed to make any
mistakes as he is one of the best in his
field of work.
Manager cannot afford to risk his
educational background for the sake of
the job.
Most managers like to preserve the
integrity of the organization by avoiding
taking risks.
 2. Innovative Entrepreneur and Imitative Entrepreneur
Title Innovative Entrepreneurs
Definition Innovative entrepreneur is a person who
brings forth all factors of production.
Strategy It is an overall strategic approach in
which a firm seeks to do something that
is very different from what others in the
industry are doing
Product With innovation, comes a greater sense
range of creativity and a greater ability to build
a product range.
Technique Such an entrepreneur formulates new
combinations enthusiastically, collects
the necessary information and new facts
Risk taking An entrepreneur takes relatively high
risk
Imitative Entrepreneurs
Imitative Entrepreneur is a person who
brings forth all factors of production
together to start off from being cautious.
It is an overall strategic approach in which
the entrepreneur does more or less what
others are already doing.
There is few range of product as it is
already available in the market.
They copy the successful innovations of
innovative entrepreneurs, like products,
raw material, and technique, etc.
These entrepreneurs take relatively lower
risks.