ENTREPRENEUR

ENTREPRENEUR
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Do things that are not generally done in the

ordinary course of business
Some entrepreneurs become celebrities…
others become ridiculed for their failed
dreams.
All contribute to the spirit of free enterprise.
 Evolution
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Derived from a French word in 17th Century –

Entreprendre means the individual who undertook
the risk of a new enterprise…. “to undertake”.

Entrepreneur is a person who creates an

enterprise. The process of creation is called as
entrepreneurship.
 Definitions
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 “Essai sur la nature du commerce en general” describes an

entrepreneur as a person who pays a certain price for a
product to resell it at an uncertain price, thereby making
decisions about obtaining and using resources while
consequently assuming the risk of enterprise – 1755

 Robert Schwartz – “The entrepreneur is essentially a

visualizer and an actualizer. He can visualize something
and when he visualizes it he sees exactly how to make it
happen.”

 Peter F Drucker – “He searches for change, responds to it

and exploits opportunities. Innovation is the specific role
of an entrepreneur.
 Entrepreneur Vs Manager
Point of Entrepreneur Manager
Difference
Motive To start a venture by setting up an To render his service in an
enterprise. He understands the enterprise already setup by
venture for his personal gratification. someone else

Status Owner of the enterprise He is an employee

Risk bearing An entrepreneur being the owner of A manager does not bear
the enterprise assumes all the risks any risk involved in the
and uncertainty enterprise.

Rewards Profits – and are directly proportional Salary – which is certain

to risk and fixed

Innovation He acts as an innovator and also Execution of plans

called as change – agent prepared by the
entrepreneur

Qualification & Needs to possess qualities and A manager needs to

Qualities qualifications like high achievement possess distinct
motive, originality in thinking, qualifications in terms of
foresight, risk bearing ability etc. sound knowledge in
management theory and
practice.
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