Entrepreneur Vs. Entrepreneurship
Difference Between Entrepreneurs and Entrepreneurship
Entrepreneurs Vs. Entrepreneurship
Before studying the difference between two (Entrepreneurs Vs Entrepreneurship) lets first understand the meaning of both terms.
The word “entrepreneur” is derived from the French verb “entreprendre”, which means ‘to undertake’. This refers to those who “undertake” the risk of new enterprises. An enterprise is created by an entrepreneur. The process of creation is called “entrepreneurship”.
Entrepreneur
Entrepreneur is a catalytic agent of change and works for the good of people and society. In the socio-economical change process entrepreneur is a critical factor. Not only he envisages new opportunities, new technologies, new processes, new lines of production and new products but also coordinates all other activities.
Entrepreneurship
Entrepreneurship is a process of actions of an entrepreneur who is a person always in search of something new and exploits such ideas into gainful opportunities by accepting the risk and uncertainty with the enterprise. It is the process of starting a business, a startup company or other organization. The entrepreneur develops a business plan, acquires the human and other required resources, and is fully responsible for its success or failure. Entrepreneurship operates within an entrepreneurship ecosystem.
Economists Ma and Tan (2005) recommend that entrepreneurship comprises the following four Ps:
1. Pioneer
Innovator or champion for innovation
2. Perspective
The entrepreneurial mindset
3. Practice
The entrepreneurial activities
4. Performance
The outcome of entrepreneurial actions and activities
Entrepreneurs Vs. Entrepreneurship
Entrepreneur |
Entrepreneurship |
Entrepreneur is a person. |
Entrepreneurship is a process. |
Entrepreneur is an organizer. |
Entrepreneurship is an organization. |
Entrepreneur is an innovator. |
Entrepreneurship is an innovation. |
Entrepreneur is a risk bearer. |
Entrepreneurship is risk bearing. |
Entrepreneur is a motivator. |
Entrepreneurship is motivation. |
Entrepreneur is a creator. |
Entrepreneurship is a creation. |
Entrepreneur is a visualizer. |
Entrepreneurship is a vision. |
Entrepreneur is a leader. |
Entrepreneurship is leadership. |
Entrepreneur is an imitator. |
Entrepreneurship is an imitation. |
For more study material on Entrepreneurship, visit the following link:
#Entrepreneurs Vs. Entrepreneurship
