Entrepreneurs
Are businessman but not All businessman are Entrepreneurs
Entrepreneurship Is designing,
launching and running a new business,
which is often initially The people who create these businesses are called
entrepreneurs. Entrepreneurship has been described as the "capacity and
willingness to develop, organize and manage a business venture along with any
of its risks in order to make a profit. While
definitions of entrepreneurship typically focus on the launching and running of
businesses, due to the high risks
involved in launching a start-up, a significant proportion of start-up
businesses have to close due to "lack of funding, bad business decisions,
an economic crisis, lack of market demand or a combination of all of these. (Wikipedia, 2000)
Intrapreneurship, Is An act of
behaving like an entrepreneur while working within a large
organization. Intrapreneurship is known as the practice of a corporate
management style that integrates risk-taking and innovation approaches, as well
as the reward and motivational techniques,that are more traditionally thought
of as being the province of entrepreneurship
Intrapreneurs
are the "secret weapon" of the business world. Based on these
definitions, being an intrapreneurs is considered to be beneficial for both
intrapreneurs and large organizations. Companies support intrapreneurs with
finance and access to corporate resources, while intrapreneurs create
innovation for companies. (Wikipedia, 2000)
Entrepreneur
are businessman but not all Business man Are Entrepreneur
It is true and in
order to justifies this statement there
are issues to be address first, through which the conclusion drawn from those
issues will answer the question to why entrepreneur are businessman but no all businessman
are entrepreneur. For the purpose of this assignment issue to be address first
is meaning of businessman and entrepreneur, followed with the differences and
similarities finally the conclusion.
Businessman, A person who is engaged in carrying out any activity, related to commercial and industrial purposes is known as Businessman. He sets up his business as a new entrant in the market as for the existing business. When it comes to originality of ideas, most of the businessmen go for a business which is highly in demand or which can make huge profits for them irrespective of uniqueness.
A businessman faces tough competition because there are
hundreds of rivals already existing in the market undertaking the same business.
Although the risk factor is low because he walks on a path that is already tested by the
rivals so the chances of failure are relatively low. The main objective
of a businessman for conducting the economic activities is to
generate revenue by employing the human, financial and
intellectual resources. By virtue
of this, customers are treated as the king of business by the businessman. (Surbhi, 2015)
An entrepreneur, Is a person who conceives a unique idea or concept
to start an enterprise and brings it into reality. He is the person
who bears risks and uncertainties of the business. The venture established
by the entrepreneur is known as Startup Company, which is
formed for the very first time regarding the idea, innovation or business
process. He/She is the ones who lead the market always no matter how many
competitors will come later, but their position will remain untouched. In
economics, the entrepreneur is considered as the most important factor of
production, which assembles and mobilizes the other three factors
of production i.e. land, labor and capital. Entrepreneurs are known for
their creative approach. They introduce innovation and coordinate the
resources. They offer such products and services which bring about a change in
the world.Some real life examples of such entrepreneurs are Bill
Gates (founder of Microsoft), Mark Zuckerberg (co-founder of Facebook), Larry
Page (co-founder of Google), Steve Jobs (co-founder of Apple) etc. (Surbhi, 2015)
KEY DIFFERENCES BETWEEN
BUSINESSMAN AND ENTREPRENEUR
- A person who brings his unique idea to run a
startup company is known as an entrepreneur. While A businessman is a person who
starts a business on an old concept or idea.
- As the businessman follows the footsteps of
other businessmen, the possibility of failure is very less which is just
opposite in the case of the entrepreneur.
- A businessman uses traditional methods to run
the business. Conversely, an entrepreneur applies unconventional methods
for the same.
- A businessman is oriented towards profit,
however, an entrepreneur is a people focused in essence, he gives more
importance to its employees, customers, and the public.
- The businessman faces extreme competition
because it is very difficult to gain a competitive position in an already
existing market, which is not in the case of an entrepreneur.
KEY SIMILARITIES BETWEEN
BUSINESSMAN AND ENTREPRENEUR
Entrepreneur and a businessman. They both don’t want to
be bossed by anyone so they will not work for anybody else. Even if they try to
work for a company, they cannot do it because they will get bored and not get
used to the lifestyle of working for a company. They want to run their own businesses
the way they want without having anyone who could tell them that they should
not do that or this because it is not efficient or effective. They like to run
their own shows.
Accountable
Entrepreneurs want to take
control and responsibility over their destiny. They want to start a business
and focus their effort and time on pursuing a goal close to their
heart. Businessmen are exactly the same. We want to take our money matters
into our own hands, and a great way to do that is by learning about investing.
Opportunistic
Both entrepreneurs and traders
see opportunity all around them. They have a keen sense of how to make lemonade
when life hands them lemons. Even in down markets, traders know there are
trades to be placed, just like entrepreneurs know there are opportunities to
seize.
Risk-Takers
Both they take risks
although the entrepreneur take the high risk than the businessman due to the
nature and attitude of them. Businessman know as much about risk as
entrepreneurs. We are consistently taking risks with our money in the trades
that we place the only difference is that tasty businessman
have more knowledge about options trading and the risk involved.
Innovative Thinkers
They both
think on make innovation if the business already exists in the market that the
thinking mind posses by all although Magnitude is differ.
Conclusion
In the long run, an entrepreneur becomes a businessman,
but there is a difference. Even the terms will sound same for a layman,
but there is a fine line amidst the two, in the sense that an entrepreneur is
always a market leader whereas a businessman is a market player.
Surbhi. (2015, 9 7). Retrieved 5 20, 2018, from Key
Difference:
https://keydifferences.com/difference-between-businessman-and-entrepreneur.html
Team, T. t. (2015, 4
14). Four Similarities Between Entrepreneurs and Traders. Retrieved 5
21, 2018, from Tastytrade:
http://tastytradenetwork.squarespace.com/tt/blog/2015/4/14/four-similarities-between-entrepreneurs-and-traders
Wikipedia. (2000). Wikipedia.
Retrieved 5 20, 2018, from Entrepreneurship: https://en.wikipedia.org/wiki/Entrepreneurship
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