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6977 Views @ December 27, 2013 Q No Comments
M Business Priya Jain
7 Differences Between
Entrepreneur and
Businessman
7 Differences Between Entrepreneur and Businessman
Often the words entrepreneur and businessman are used
interchangeably. But the fact is that the meaning they signify is
as different from each other as it can possibly be. In course of
ignorance, many businessmen label themselves as
entrepreneurs.
A businessman is any person that engages in a series of
economic activities to earn a profit. An entrepreneur, on the
other hand, is someone who conceives an idea or a solution to a
current problem that the society is facing, finds investors and
sets up an enterprise to offer his expertise to the general public.
There are many differences in the way both think, operate, and
do business.
1. A businessman starts his business with an already existing
and mostly a well-exploited area whereas an entrepreneur
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conceives a fresh concept/idea/solution to start his
enterprise.
The entrepreneur has an object to provide
a never-tried-before solution to an existing
problem instead of capitalizing on a tried-
and-tested idea.
2. A businessman is afraid to take risks whereas an
entrepreneur is always ready to plunge deep in.
A businessman is apprehensive of trying
new things. An entrepreneur is almost
habitual of taking risks.
3. A businessman is concerned with hiring people to increase
his business productivity whereas an entrepreneur brings
productivity in his employees.
An entrepreneur hires people and converts
them into a pool of resource which can be
easily and effectively tapped by the society.
4. A businessman shies away from changes, and often finds
him at the receiving end of turbulent business environment
whereas an entrepreneur is always eager to face challenging
business conditions.
A businessman is apprehensive of changes
whereas an entrepreneur embraces
changes.
5. A businessman, more often than not, sticks with his older
products and is afraid to innovate. An entrepreneur is
renowned for his knack of innovating and creating a better
product for the society.
An entrepreneur thrives on his risk taking
capabilities and strives to outshine all his
previous products each time.
6. A businessman stays with the more traditional way of doing
business whereas an entrepreneur is obsessed with
unconventional way of doing things.
Beginning from the product idea and going
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till after the product has been sold, an
entrepreneur makes an effort to be boldly
unconventionally different.
7. A businessman is known for making revenue whereas
entrepreneurs are focused on creating value.
Adding value to the society is the reason
entrepreneurs exist. Entrepreneurs want to
bring in a revolutionary change in the way
society thinks and works.
A businessman adopts an idea, starts a business and brings it to
life whereas an entrepreneur plants the seed, nourishes it over
years and creates a value-generating asset for the world, he
brings life to his business.
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