DEPARTMENT OF MECHANICAL

ENGINEERING

ASSIGNMENT

THERMODYNAMIC II

SUBMITTED TO:
Dr. SALMAN ABBASI

SUBMITTED BY:
Hassan Zahid
2021-ME-427
 Distinction between Entrepreneur and a Manager

Entrepreneur

 An entrepreneur is a person who starts and manages a new business venture

with the aim of creating and growing a successful company. They are risk-
takers, who often have innovative ideas and are willing to invest time and
resources to turn their vision into a reality.
 They create their own business model and develop their own product or
service with the goal of achieving profits and financial success.
 Entrepreneurs often have to invest their own capital and take risks to
develop their business.
 that the entrepreneur is responsible for creating and leading the business
 An entrepreneur is a person who starts, organizes and manages a new
business venture in order to make a profit. They take calculated risks to
bring an idea to life and are focused on innovation and growth.
 An entrepreneur is a risk-taker who starts and manages a business with the
aim of generating profits. They are innovative and often have a vision for a
product or service that they believe will meet a market need. Entrepreneurs
are responsible for creating a new business or developing an existing one,
and they often make significant investments of time and money in their
ventures.
 Entrepreneurs have to be creative and take risks to develop successful
businesses, while managers have to create and follow processes and
procedures, and stay within the bounds of their organization. Finally,
entrepreneurs typically have more control over the scope of their business,
while managers usually remain within the confines of the company policies
and structures.

 Entrepreneurs typically focus on launching and growing the business while

managers take charge of making sure that operations run smoothly by
leading personnel and developing strategies. Entrepreneurs often juggle
multiple tasks at once while managers ensure efficient running of existing
processes. They have specialized roles that can add value to their respective
businesses in different ways but overall, they share one common goal:
achieving organizational success.
Manager

 A manager is an individual who is responsible for managing the daily

operations of a business, such as making operational decisions, hiring
employees, overseeing budgets and dealing with customer relations.
 Managers are typically responsible for the day-to-day running of the
business and ensuring the success of the organization.
 They may also use their business experience to lead teams and make
strategic decisions about the company’s future.
 The person who determines the goals and objectives of an organization and
sets strategies to achieve them.
 The person who evaluates the performance of others and makes decisions
about their advancement.
 The person who ensures the organization's success through determined effort
and sound judgment.
 Managing a business requires different skill sets and knowledge than
establishing one from the ground up. Although both roles are critical for the
success of a business, entrepreneurs and managers have distinct roles to play
in terms of day-to-day operations and decision making
 On the other hand, a manager is someone who is responsible for overseeing
and directing a team or an organization to achieve specific goals and
objectives. Managers typically work within existing businesses or
organizations, and their focus is on effectively leading their team and
optimizing the performance of their department or company.
 A manager, on the other hand, is responsible for overseeing and directing a
department or organization to achieve specific goals and objectives. They
typically work within established companies and focus on optimizing
operations and ensuring the efficient use of resources.
 On the other hand, a manager is responsible for the day-to-day operations of
a business, ensuring that it runs smoothly and effectively. Managers work
within existing businesses, and their focus is on improving efficiency,
productivity, and profitability. They plan, organize, and coordinate the
activities of employees, and they are accountable to the business owner or
higher-level management.