Site pages
Current course
Participants
General
26 February - 4 March
5 March - 11 March
12 March - 18 March
19 March - 25 March
26 March - 1 April
2 April - 8 April
9 April - 15 April
16 April - 22 April
23 April - 29 April
30 April - 6 May
4.1.3 Profile of an Entrepreneur
Joseph Schumpeter made a distinction between entrepreneur and manager. According to him, a manager is one who deals with day-to-day affairs of a going concern. But an entrepreneur attempts to change the factor combinations and thus increases productivity and profits. An entrepreneur launches a new enterprise whereas a manager operates an existing enterprise. The roles of entrepreneur and manager may, however, overlap in many situations. Entrepreneurs who start enterprises must use managerial skills to implement their innovative ideas successfully. Similarly, managers must use entrepreneurial skills in order to manage change and innovation to effectively deal with uncertain external environment of business. |