Difference between Entrepreneur and Entrepreneurship

Entrepreneur and entrepreneurship both are related are related to managing a company which is owned by the individual. While many people consider both as same but there are many differences between the two, if being an entrepreneur is the start of the journey then entrepreneurship is the goal or end of that journey. Let’s look at some of the differences between entrepreneur and entrepreneurship –

Entrepreneur and Entrepreneurship Differences

  1. Entrepreneur refers to a person who starts a new company with his or her own funds or takes debt and then starts the company while entrepreneurship refers to having a set of qualities which are required in order to run a successful business over a long period of time.
  2. While it is easy to become an entrepreneur as anyone who has small business or company can be called an entrepreneur but in order to achieve entrepreneurship, one has to be successful in running a company. In simple words, an entrepreneur can be either successful or failure while entrepreneurship is usually associated with running a successful business.
  3. All Entrepreneurs cannot be said to have entrepreneurship skills but all people who have entrepreneurship skill should necessarily be entrepreneurs. In other words, one cannot have entrepreneurship skill without becoming an entrepreneur while one can be an entrepreneur without having entrepreneurship skills.
  4. Entrepreneurship is much broader term having a wider scope and apart from entrepreneurs, it includes many other activities while the entrepreneur is narrow in scope and it is only a part of entrepreneurship.
  5. A person can become entrepreneur overnight but in order to achieve entrepreneurship, one needs years of experience and expertise as it is a long term process and it cannot be taught in business schools rather a person himself or herself learn it through years of experience.

As one can see from the above that both entrepreneur and entrepreneurship are very different from each other and one should keep above points in mind before using these words interchangeably.

0 comments… add one

Leave a Comment

Related pages

why we prepare trial balancecheque crossed generallydifferent elasticities of demandbarter trading systemdisadvantages of importingdirect quotation exchange ratedefinition of inferior goodsdemerits of online shoppingexample of cash inflowfmcg fullformppf advantagescomparison between socialism and capitalismwhat is crossing a chequeperpetual sucessionwhat is the difference between accounts payable and bills payabledefinition of inferior goods in economicslimitations of zero based budgetingdisadvantages of living in rural areasconsignor and consignee meaningmerit and demerits of internetadvantages of lifopositives of capitalismdisadvantage of vertical integrationthe downside of globalizationsubstitute goods and complementary goodsadvantages of merger and acquisition pdfmeaning of merits and demeritsdemand loan interest rateadvantages and disadvantages of debit card and credit cardselling shares advantages and disadvantagesunearned revenue accountexamples of unitary demanddisadvantages of cost based pricingwhat is an example of a vertical mergershareholding meaningcarriage inwardswhat is fund flow and cash flowcommercial paper pptbhel company in indiarrbs bankdifferentiate between socialism and capitalismwhat is the difference between accounts payable and bills payablewhat is a consignerdefinition of durable goodcharacteristics oligopolyexamples of consumer goods and capital goodsglobal warming advantages and disadvantagesvertical analysis accountingwhat is the difference between demat account and trading accountunearn revenuedefine fictitious assetsauthocratic leadershipdisadvantages of a monopolyconsignor consignee definitionwage push inflationdisadvantages of mixed economic systemcommand economy prosdisadvantage of advertisementbrs statementcross currency calculationdisadvantages of mixed economy systemcapital account convertibility indiapure competition marketexample of diminishing marginal utilityperfect pure competitionpurchased goods on credit journal entriesdemand push inflationdifference between inferior and superior goodsmsf full formdistinguish between explicit cost and implicit costasset vs liability definitioneffects of advertising in monopolistic competitionbenefits of convertible bondsadvantages and disadvantages of decentralisationwhat is the difference between tariff and quota