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    Presentation On Characteristics of An Entrepreneur

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    Vibha Kirodiwal
    The document discusses the characteristics of entrepreneurs and differences between entrepreneurs and managers. Entrepreneurs take risks to start new businesses, are creative problem solvers, and work independently to achieve goals. They bear risks and rewards of business success or failure. In contrast, managers operate existing businesses, do not bear risks, and are paid fixed salaries rather than sharing in business profits. The document outlines seven key differences in roles and responsibilities between entrepreneurs who create change, versus managers who implement routine operations.

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    Presentation On Characteristics of An Entrepreneur

    Uploaded by

    Vibha Kirodiwal
    109 views13 pages
    The document discusses the characteristics of entrepreneurs and differences between entrepreneurs and managers. Entrepreneurs take risks to start new businesses, are creative problem solvers, and work independently to achieve goals. They bear risks and rewards of business success or failure. In contrast, managers operate existing businesses, do not bear risks, and are paid fixed salaries rather than sharing in business profits. The document outlines seven key differences in roles and responsibilities between entrepreneurs who create change, versus managers who implement routine operations.

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    Presentation on Characteristics of an Entrepreneur

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    The document discusses the characteristics of entrepreneurs and differences between entrepreneurs and managers. Entrepreneurs take risks to start new businesses, are creative problem solvers, and work independently to achieve goals. They bear risks and rewards of business success or failure. In contrast, managers operate existing businesses, do not bear risks, and are paid fixed salaries rather than sharing in business profits. The document outlines seven key differences in roles and responsibilities between entrepreneurs who create change, versus managers who implement routine operations.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    109 views13 pages

    Presentation On Characteristics of An Entrepreneur

    Uploaded by

    Vibha Kirodiwal
    The document discusses the characteristics of entrepreneurs and differences between entrepreneurs and managers. Entrepreneurs take risks to start new businesses, are creative problem solvers, and work independently to achieve goals. They bear risks and rewards of business success or failure. In contrast, managers operate existing businesses, do not bear risks, and are paid fixed salaries rather than sharing in business profits. The document outlines seven key differences in roles and responsibilities between entrepreneurs who create change, versus managers who implement routine operations.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 13

    Characteristics of an Entrepreneur

    &
    Difference Between Entrepreneur &
    Manager
    Entrepreneur

    A person who has decided to take control of his future & become self-employed-
    whether by creating his own unique business or working as a member of a “team”,
    as a multi-level marketing.

    An Entrepreneur is a person who organizes and manages a business undertaking,


    assuming the risk for the sake of profit. Any person who starts and operates a
    business is an entrepreneur.
    Characteristics
    • Entrepreneurial Characteristics
    • Risk Taker
    • Perceptive
    • Curious
    • Imaginative
    • Persistent
    • Goal-setting
    • Hardworking
    • Self-confident
    • Flexible
    • Independent
    •Entrepreneurial Characteristics
    Not everyone wants to be an entrepreneur and run their own business. Being an
    entrepreneur requires specific characteristics and skills that are often achieved through
    education, hard work, and planning.

    •Risk Taker
    Businesses face risk. Entrepreneurs minimize risk through research, planning, and skill
    development.
    •Perceptive
    Entrepreneurs view problems as opportunities and challenges.

    •Curious
    Entrepreneurs like to know how things work. They take the time and initiative to pursue
    the unknown.

    •Imaginative
    Entrepreneurs are creative. They imagine solutions to problems that encourage them to
    create new products and generate ideas.
    •Persistent
    True entrepreneurs face bureaucracy, make mistakes, receive criticism, and deal with
    money, family, or stress problems. But they still stick to their dreams of seeing the
    venture succeed.

    •Goal-setting
    Entrepreneurs are motivated by the excitement of staring a new business. Once achieved,
    they seek out new goals or ventures to try.

    •Hardworking
    Entrepreneurs need a great deal of energy to see a venture start and succeed. Yet they
    are not deterred by the long hours to achieve their goal.
    •Self-confident
    Entrepreneurs believe in themselves. Their self-confidence takes care of any doubts they
    may have.

    •Flexible
    Entrepreneurs must be flexible in order to adapt to changing trends, markets,
    technologies, rules, and economic environments.

    •Independent
    An entrepreneur’s desire for control and the ability to make decisions often makes it
    difficult for them to work in a controlled environment.
    Difference Between
    Entrepreneur & Manager
    Point of Difference Entrepreneur Manager
    1. Venture An entrepreneur sets up A manager does not take
    a new enterprise or a new venture and
    undertakes a venture for renders services in an
    his personal existing enterprise.
    gratification.

    2. Risk bearing An entrepreneur assumes A manager does not


    risk of economic assume or share any risk
    uncertainty involved in involved in the
    the enterprise. enterprise he is saving.
    3. Reward The reward of an The reward of a manager for
    entrepreneur for his risk rendering his services is salary
    bearing role is profits. which unlike profits is fixed
    It is not only uncertain and irregular and can never be
    and irregular but can at negative.
    times be negative also.
    4. Continuity Entrepreneurial Managerial activities are
    activities are mainly continuous involving an
    discontinuous appearing ongoing coordination of
    to initiate change in the business operation.
    production process and
    then disappearing until
    another change is
    initiated.
    5. Innovation In order to maximize On the contrary, a manager
    the profits, the simply keeps running the
    entrepreneur applies enterprise on already established
    innovation from time lines on a routine basis. That is
    to time in the why a manager is called the
    enterprise. Therefore; product of change brought about
    an entrepreneur is also by the entrepreneur.
    called a change agent.
    6. Status-Role An entrepreneur is his By contrast, a manager is a
    own boss and enjoys an servant i.e. salaried person
    independent status as serving in the enterprise of
    the owner of the someone else i.e. the
    enterprise. entrepreneur. Thus he is not
    independent but the dependent of
    the entrepreneur.
    7. Prerequisites In consonance with But, a manger needs
    the entrepreneurial distinct qualification
    role, an entrepreneur such as knowledge of
    needs pre-requisites human behavior,
    like mission, creative management theory,
    thinking, risk-bearing etc. Because, the
    ability, etc. managers are made
    not born.
    You
    an k
    T h

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