PROPRIETARY

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1 : one that possesses, owns, or holds exclusive right to something specifically : proprietor
sense 1.
Proprietary is an adjective, the adverb form is proprietarily. Propitiatory describes
something offered in conciliation, an action meant to appease someone or something, an
attempt to make amends or pacify someone through an act, attitude, or gift.
An entrepreneur is a person, who establishes the industry and undertakes risks, whereas
capitalist is the person who provides capital for the industry. If the capitalist also
undertakes risks, along with providing capital, then he will be called as the entrepreneurs.

Meaning
An entrepreneur is a person or group of persons, who carries out activities relating to
the establishment of industry and innovations.

A capitalist is a person who provides capital for any industry.

STATUS

The entrepreneur is the owner of the industry.

The status of the capitalist in the industry is that of a debt provider.

Nature of Functions
The function of the entrepreneur (owner) is to undertake risks.

The function of the capitalist is to make capital available.

4. Reward
The entrepreneur gets profits as a reward for his services and risks.

The capitalist gets interested as a return on the capital invested by him.

5. Policy Formulation
Normally, the entrepreneurs perform the functions of policy formulation for the industry.

Normally, capitalists do not formulate the policies. Although, presently board of

directors of the companies includes the representatives of the finance providing
institutions.

Even then, Financial Institutions are not recognized to be an entrepreneur.

6. Undertaking of Risks
The entrepreneur faces several risks and uncertainties in the establishment of industries
and activities of innovations.

The function of the capitalist is to invest capital.

7. Certainty of Income
The income of the entrepreneur is uncertain. He may or may not earn profits.

The interest receivable by the capitalist on investment is certain. Hence, his income is

certain.

8. Status of Industries
The status of capitalists and entrepreneurs may be normally the same, in small
businesses and industries.

In large scale businesses and industries, normally, it is not so.

In companies, the shareholders are in the status of entrepreneurs and creditors are in
the status of the capitalist.

To do so, companies must understand the different activities that are

performed every day. At the simplest level, we can say that within a business
there are orthodox activities and unorthodox activities. The orthodox activities
are those the business must undertake just to be a business. For example, a
business needs a payroll system, an accounting department, a break room for
employees, etc. These things are necessary but create very little value with
the customer. Executing these activities at the highest level is a waste of
resources. For these orthodox activities, good is good enough.

The unorthodox activities are a different animal. These are the activities the
customer truly values. These are the activities that must be top of mind for
every employee and execution of these activities must be flawless. An
operations failure on an unorthodox activity can result in upset customers, lost
business, and a general degradation of the company’s brand. For these
unorthodox activities, operational excellence is not only warranted, it is
necessary for the business to survive.

Character and Trait are two words in the English dictionary that is
often reciprocated as synonyms. However such conclusion is not
true. Character refers to the distinctive qualities that a person
exhibits. Such qualities can either be inherited or acquired over a
period of time, with interaction between intrinsic and extrinsic
environment. Hence character refers to a behaviour exhibited by a
person which varies from situation to situation.
On the other hand trait indicates the inherent qualities that are
present in an individual from birth. Traits can either signify a
behavioural pattern or a disease pattern. For example, certain
genetic diseases like sickle cell anaemia are referred to as “trait”
while extrovert or introvert feature of an individual is referred to
as “character”.

By referring to “character” we define the sense of quality

behaviour exhibited by a person in real time scenario. A person
may be identified with a “good character”, if he or she exhibits the
qualities of honesty, kindness, integrity, helpfulness and co-
operation.  On the other hand, a person may be identified with a
“bad character”, if he or she exhibits such attributes like
deception, dishonesty, deception, manipulation and cheating.
Character develops in an individual right from birth and becomes
modified in various ways till his or her death.

Such development of character depends upon one’s interaction

with the socio-economic environment in which an individual
grows up or spends time as a part of their profession. Character is
something that is learnt by experiential learning. For example,
schooling and good parental support helps an individual to
generally exhibit good moral character. On the other hand
economic poverty and parental constraints deviates the character
of an individual child. However, such observations are not true
always. Due to the want and need for financial independence,
people tend to sway away from moral character as their actions
are influenced by others or by a particular situation.

Trait is something that is genetically determined and is present

within an individual right from birth and does not change over a
period of time. For example, a person with sickle cell trait or trait
for colour blindness will always continue to suffer, from sickle cell
anaemia and have a difficulty in identifying the hues of colour.
Such defects are inherent within their genes caused due to
inheritance from paternal allosomes or autosomes. Allosomes
refer to the chromosomes other than the sex chromosomes which
constitutes 22 pairs of chromosomes. On the other hand
allosomes refer to the sex chromosomes which are the 23rd pair of
chromosome in human beings.

Trait is not changed through association and dissociation, with

surrounding environment or societal situations. Different
members of a family or a pedigree might have the same trait. For
example, a person carrying a dominant gene for color blindness
will exhibit color blindness, however if he contains the recessive
gene, he will still carry the trait for color blindness but will not
exhibit the same.

The major differences between character and traits are tabulated

below:

Features Character

Represents behavioural pattern of an individual which is

Definition
subjected to change under socio-economic conditions

Genetically
No
determined

Expericiential
Present
Learning

Influenced by External environments

Inherited No

Mediated by Neuro-physiological factors

Manipulated by Counseling and Medications

Dominant or
Not expressed with such definitions
Recessive

Acquired Over
Yes
Time

Changes with time Yes

Read more: Character and Trait-Do they Differ ? | Difference

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