- When you compare managers and entrepreneurs you need to first look at the definitions of both titles. A manager is someone who directs a team and an entrepreneur is someone who organises, manages, and assumes the risks of a business or enterprise. With these definitions you can surmise that an entrepreneur can be a manager but a manager can not be an entrepreneur
- Each person is given their assigned tasks in a company and a manager will get the work done. Whereas a leader or an entrepreneur will inspire others to do better work.
- Qualities of a manager: 1)Time 2)Resources (Manpower) 3)Budgeting Qualities of a leader: 1) Deep understanding of the Business 2) Interpersonal Skills 3) Innovation 4)Motivate people for change 5)Setting up of Goals and mission
- Entrepreneur gives manager tasks and a deadline and generally leave them alone until it is completed. They will trust people to get the job done without having to constantly look over their shoulder. When they hire someone they believe that they have hired someone who is qualified to handle the tasks before them, so they don't think they should have to ask for status reports on an hourly basis.
- Both of them are leaders in their own ways. Manager controls a specific set of team whereas the entrepreneur has a birds eye view of the whole business
A manager's role is to make sure what happens today will be successful. An entrepreneur utilises today's functions to way to plant seeds for tomorrow's success.
- The values of an entrepreneur are different than a manager. People are misled if they think making money is the leading driving force behind what the entrepreneur wants. Although making money has importance, the most important value, according to survey that drives entrepreneur is the independent decision making.
- The mission of the manager and the entrepreneur are also quite different. A manager works with the organisation's mission and his business plan for the year is dictated by his boss or if in a motivating environment it is set mutually with the boss.The entrepreneur is independent and sets his own mission without the need for approval or discussion
- There is more amount of satisfaction associated with entrepreneur compared to manager when things fall into place and the company does really well. But when a business plan flops and incurs losses entrepreneur is the one who feels the pinch the most.
- Contribution to Society: Entrepreneur employs several people and their livelihood depends on him whereas the manager only works for him so though the manager plays an important role entrepreneur's contribution to the society is more.