Difference between manager and entrepreneur 01
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An entrepreneur starts and owns a business, taking on financial risks to earn a profit. A manager works for the entrepreneur and is responsible for overseeing the day-to-day operations and long-term growth of the business. While a manager receives a salary, the entrepreneur invests capital and can demote the manager if performance is poor. An entrepreneur may also replace a manager for their own benefit rather than performance reasons. For a business to succeed, the manager must be selected based on merit rather than family ties.
Difference between manager and entrepreneur 01
- 1. Difference between Manager and Entrepreneur Basically entrepreneur and manager are different positions but people take them as the same usually. Manager is the one who is responsible for the management of the organization. Manager is not the owner of organization but he works under the entrepreneur. Entrepreneur is the one who sets up a business and takes risks in the hope to earn profit financially. Entrepreneur is really concerned about his business because he invests a lot of his money in it and expects more profit than his investment for which he change, replace or substitute managers just for progress. We can say that entrepreneur is materialistic person in some way. Entrepreneurial management is known for very quick and sudden actions for new business options. And entrepreneur knows very little about his products, communications, marketing, sales, insurance and finance so on. And Chinese proverb is “A that is full is useless” so an entrepreneur cup must never be full. On the other hand manager is the one who provides his services to the business and free man. He is responsible for management and growth of the business. He doesn’t invest anything in business and he has to study in the business school and get trained for this post through his life. A manager owns the job and gets his reward in form of salary, bonus, office promotion etc. Entrepreneur can demote the manager as well if he is performing not well and in some cases entrepreneur demote the manager for his own benefit whether manager is working good or bad. In the movie night shift Chuck (Henry Winkler) worked for 6 years in the night and when he was about to get the morning shift his boss gave his shift to his nephew. in organizations someone can be treated like chuck by his entrepreneur. Because entrepreneur can make manager to someone he likes or to someone from his family. But an organization like this can never make profit and do well for anyone. If the manager is not going to be selected on merit then sure that organization will fall. Chuck (Henry Winkler) and Bill his partner make an organization of strippers and make money from it. A new entrepreneur can start organization like chuck (Henry Winkler) and if he organized it well and become loyal with his staff he can earn profit and make progress by it. He just has to manage it well and his business will run smoothly. But he become materialistic and stops thinking about his workers and staff then the economy, reputation and its revenue will fall.