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All schools: A buddha is a being who has attained enlightenment without a teacher, e.g.
Siddhartha Gautama (S.G.). They have to discover the dharma themselves.
This can only happen when the belief in Buddhism has completely died out.
To properly see the Buddha as the Buddha, one needs to have a complete
understanding of his teachings.
All groups see S.G. as a spiritual leader, teacher, historical figure and
founder of the religion.
Followers are expected to abstain from all kinds of evil, accumulate good,
and purify their minds.
They believe there is only a buddha when the teachings have been lost and
therefore the Buddha helps many people by discovering the truth and
showing them the dharma.
There will be a new buddha like S.G. when the teachings of the dharma
have been lost from the world; the next buddha will be called
Matteya/Maitreya.
Mahayana Buddha as embodiment of qualities and enlightenment – concept of
Buddhism ‘Buddha nature’ in all of us (so anyone can become enlightened, not just by
being a monk – in contrast with the Theravadins). This is the key difference.