Managers and Entrepreneurs are the most important parts of any firm, what is the difference in their role, we will know in this article.
First of all, we will know who are managers and who are entrepreneurs.
Who are Managers?
The managers are the ones who are responsible for the duties of management.
A manager is someone responsible for overseeing an employee or department to ensure that employees perform their tasks according to the requirements.
Based what the dimensions of the organization, there could be a single, double, or triple management layer.
According to Peter Drucker, “managers are accountable for the application and execution of knowledge.”
In extensive companies, management is divided into three tires: Upper management, Mid-management, and lower management.
Lower management includes a manager who operates at the primary level of commerce are functions middle-level management.
Mid-management overseas lower management and generate reports for the senior leadership.
Senior upper management commonly consists of a board of directors or shareholders who own the company and make kids’ seasons that affect the company.
Any manager position of any type is more responsible than an ordinary employee and usually pays a more significant.
Managerial positions that are more advanced typically require a college degree and some expertise, even though different companies differ in structure and their requirements.
Who are Entrepreneurs?
Entrepreneurs are the ones who recognize the gap in need and capitalize on the same.
Entrepreneurs grab such innovative ideas came up with it and pursued its success with unflagging enthusiasm.
Thus, these individuals are succeeding in their business and are true entrepreneurs in the sense.
Therefore, entrepreneurs are self-starters and doers who are organized and created successful companies.
However, we can’t call them entrepreneurs and an opportunist as it isn’t just egocentric interests that drives him, but also he meets the demands of the population.
I hope now you have a clear year understanding of entrepreneur and manager.
Here I am presenting a chart which is based on basic comparison let’s have a look.
|Basic Of Comparison||Managers||Entrepreneurs|
|1) Primary Motives||Promotional and other Traditional corporates Rewards like offices, Staff, and power.||Independence, opportunity, and money.|
|2) Time Orientation||Short Term- meeting quotes and budgets, W/M/Q, and annual planning horizon||Survival and achieving 5-10 years growth of business|
|3) Activity||Delegates and supervises rather than Direct involvement||Direct involvement|
|4) Risk||Careful||Moderate Risk Taker|
|5) Status||Concerned about status Symbols||Not Concerned about Symbols|
|6) Failures and Mistakes||Tries to avoid mistakes and surprises||Deals with Failures and Mistakes|
|7) Decisions||Usually agrees with those in an upper management position||Follow Dreams and Decisions|
|8) Who Serves||Others||Self and Customers|
|9) Relationship with others||Hierarchy as basic relationship||Transactions and deal-making as basic relationship|
|10) Family History||Family members worked with the organization.||Entrepreneurial small business, professional, or farm background.|