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The Profile of Entrepreneurs: Characteristis Traits

The document outlines the key characteristics and traits of entrepreneurs as well as distinguishing entrepreneurs from managers. Some of the main characteristics of entrepreneurs include drive, self-confidence, risk-taking ability, being task and result oriented, mental ability, leadership behavior, human relations skills, originality, and communication ability. An entrepreneur is defined as the owner of an enterprise whose main target is to start a new venture, makes all strategic decisions, bears all risks, is innovative, and earns profits as a reward. In contrast, a manager is an employee of an existing enterprise owned by an entrepreneur, makes operational decisions, does not bear risks, implements entrepreneur's plans, and earns a monthly salary as compensation for services rendered.

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59 views2 pages

The Profile of Entrepreneurs: Characteristis Traits

The document outlines the key characteristics and traits of entrepreneurs as well as distinguishing entrepreneurs from managers. Some of the main characteristics of entrepreneurs include drive, self-confidence, risk-taking ability, being task and result oriented, mental ability, leadership behavior, human relations skills, originality, and communication ability. An entrepreneur is defined as the owner of an enterprise whose main target is to start a new venture, makes all strategic decisions, bears all risks, is innovative, and earns profits as a reward. In contrast, a manager is an employee of an existing enterprise owned by an entrepreneur, makes operational decisions, does not bear risks, implements entrepreneur's plans, and earns a monthly salary as compensation for services rendered.

Uploaded by

Shaira Nicole Vasquez
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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The Profile of Entrepreneurs

According to khan (2006). It seems reasonable to have a look on the working profile of
entrepreneurs. The following is the list of characteristics and traits to show a working profile of
entrepreneurs.

CHARACTERISTIS TRAITS
1. Drive Responsibility, vigor, initiative, persistence,
ambition
2. Self-confident Confident. Independence, optimism,
individuality
3. Risk Risk taking ability, likes challenges
4. Task result oriented Profit-oriented, need for achievement, profit-
oriented, energetic
5. Mental ability Overall intelligence, analytic thinking ability,
creative thinking.
6. Leadership behavior Gets along with others, responsive to
situations, and criticism
7. Human relations Emotional stability, healthy personal relations
8. Ability Sociability, thankfulness, consideration
9. Originality Innovative, creative, resourceful
10. Communication ability Perceptive, future oriented, has foresight

Distinction between an Entrepreneur and Manager


Generally, the two terms, entrepreneurs and manager are used interchangeably but they differ
in their meaning.

BASIS OF DISTINCTION ENTREPRENEUR MANAGER

1. Status An entrepreneur is the owner A manager is just an employee


of his enterprise. in the enterprise which is
owned and run by an
entrepreneur.
2. Target The main target of an The main goal or motivation of
entrepreneur is to start his a manager is gives his services
venture by setting up a sole to an enterprises established
trader of a firm or company. by an entrepreneur.
3. Decision making All of policies, strategies and All managerial operational
decisions like those comprising decision which would have
of expansion, diversification, impact on the short. And
take overs, mergers, medium-term result are taken
Capital budgeting affairs, by managers.
pricing policy etc. are made by
entrepreneur.

4. Rectification of wrong The wrong decisions taken by The wrong decisions taken by
decision the entrepreneur may not be manager can be amended and
rectifiable and may result in rectified by the entrepreneur.
losses or even closure of the
unit.
5. Innovation An entrepreneur innovates A manager is merely an officer
and exploits his innovation of an executive who is
commercially. appointed for the promotion
of the unit. He simply
implements the plans
prepared by entrepreneur.
6. Caring An entrepreneur undertakes A manager does not bear any
all risk and uncertainly of risk because he is a paid
running his enterprise. employee.
7. Skills The skill expected from an A manager depends on public
entrepreneur is in the form of dealing abilities and
creativity, innovation, desire conceptual abilities.
for high achievements,
intuition, etc.
8. Qualification The entrepreneurs does not A manager now a days need to
need to have distinct degree possess a degree in the stream
from a reputed university, of management theory and
practice.
9. Reward The reward of an entrepreneur A manager gets his monthly
is the profit he earned. salary as his reward for the
servicers he rendered.

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