Entrepreneurs are change agents; Managers are maintainers.
When you compare managers and entrepreneurs you need to first look at the definitions of both titles. A manager is someone who directs a team and an entrepreneur is someone who organizes, manages, and assumes the risks of a business or enterprise. With these definitions you can surmise that an entrepreneur can be a manager but a manager cannot be an entrepreneur. The reasons for this are plentiful, but it basically comes down to the type of person you are. If you like to control all aspects of a situation then you are generally a manager, but if you are someone who works through problems with people then you are more likely an entrepreneur.
The terms Entrepreneur and Manager are considered one and the same. But the two terms have different meanings.
The following are some of the differences between a manager and an entrepreneur.
The main reason for an entrepreneur to start a business enterprise is because he comprehends the venture for his individual satisfaction and has personal stake in it where as a manager provides his services in an enterprise established by someone.
An entrepreneur and a manager differ in their standing, an entrepreneur is the owner of the organization and he bears all the risk and uncertainties involved in running an organization where as a manager is an employee and does not accept any risk.
An entrepreneur and a manager differ in their objectives. Entrepreneur’s objective is to innovate and create and he acts as a change agent where as a manager’s objective is to supervise and create routines. He implements the entrepreneur’s plans and ideas.
“An entrepreneur could be a manager but a manager cannot be an entrepreneur”. An entrepreneur is intensely dedicated to develop business through constant innovation. He may employ a manager in order to perform some of his functions such as setting objectives, policies, rules etc. A manager cannot replace an entrepreneur in spite of performing the allotted duties because a manager has to work as per the guidelines laid down by the entrepreneur.