Entrepreneur vs Manager: Understanding the Characteristics and Success Factors

ENTERPRENURSHIP AND
SMALL BUSINESS
MANAGEMENT

Table of Contents
Task 3 - Essay..................................................................................................................................1
REFERENCES................................................................................................................................5

Task 3 - Essay
Entrepreneur is known as owner of a company, who integrates the skill and knowledge into
launching a new venture in unique way (Honeyman and Jana, 2019). Therefore, they are also
called as initiator or leader who has the potential of bringing the business idea for innovation.
While manager is only an employee of a firm whose main role is to manage and optimise the
entire resources into systematic manner. So, person on management position is responsible to
administer the entire business and mainly accountable for smooth operational functions.
Achievements for an entrepreneur is key motivation, while for a manager, they believe that
motivation is only come from position and power to manage. Thus, entrepreneur is said to be
risk-taker, whereas managers are risk-averse (Bereczki, 2019). The characteristics which makes a
person to become good entrepreneur in future, includes creativity, persuasiveness, vision,
versatility and risk tolerance etc. Hereby, vision refers to be strategic planning that aid an
entrepreneur to able to make a better workplace having talented employee. By sharing vision,
entrepreneurs can provide specific direction to workers to contribute their talent and efforts in
achievement of business (Khyareh, Khairandish and Torabi, 2019). Similarly, versatility shows
that an entrepreneur can adapt easily the changing business environment and run operations
accordingly. Having this characteristics, such a person can easily handle the business related
problems easily, like how to implement new technology in organisation with sufficient skills and
management of employee resistivity. In addition to this, as every employer aims to grow
business continuously, that often involves a number of risks like product development, therefore,
in such case, entrepreneurs do not afraid to take the risks (Amaliawati, Martono and Indrawati,
2019). This shows that every entrepreneur possesses risk-taking abilities that aid them to get high
success in business. Other than this, skills that make an employer a good entrepreneur includes
strategic thinker, efficient, persistence and flexibility. Here, having a curiosity shows that an
effective entrepreneur always engages in discovering new ideas to solve real world problems,
like Mark Zuckerberg who has invented the Facebook to connect entire people on internet with
each other (Choi, Lee and Hwang, 2019). Similarly, strategic thinker makes entrepreneur to
create innovations and make a history.
In context with Step Croft Simon, who is known as founder of Nom Food, has become a
good entrepreneur by creating innovation in food section. She has made a simple innovation in
Popcorn but making organic food has made her a good entrepreneur (Q And A With Nom Foods
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