Difference between Entrepreneur and Entrepreneurship

Top Differences between Entrepreneur and Entrepreneurship

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Entrepreneur and Entrepreneurship may refer to same category, but they have a lot of difference. Entrepreneur and Entrepreneurship comes under business category. Entrepreneur is the person who starts an Enterprise and the process of managing is called Entrepreneurship.

Entrepreneur:

An entrepreneur is a person who organizes the enterprise bearing most of the risk and enjoys most of the reward. The process of setting up a business is known as entrepreneurship. An entrepreneur is a person who takes risks in starting a new business venture. There are so many definitions for an entrepreneur and one of the definitions is a person who attempts to make profit by starting a company or by operating alone in the business, especially when it involves taking risk is the definition according to the Cambridge University dictionary.

Some of the characteristics of an entrepreneur are: He should be visionary, he should be adaptable, undertake and understand the procedure of the business, understand the market, he should be organized and risk-taking, innovative and should possess leadership qualities.

Entrepreneurship:

Entrepreneurship means an organisation developed, managed and run by an entrepreneur for the motive of profit making is called Entrepreneurship. There are four types of entrepreneurship. Small business entrepreneurship, Scalable startup entrepreneurship, Large company entrepreneurship, Social entrepreneurship.

The characteristics of entrepreneurship are Innovation, Managerial skill, leadership, high achievement functions, understanding the political and economic structures, status withdrawal, organization building, gap filling function.

Difference between Entrepreneur and Entrepreneurship:

ENTREPRENEUR ENTREPRENEURSHIP
Meaning
An entrepreneur is an individual or group of individuals who are having a particular innovative idea and takes every step to turn that Idea into business and turn into profits while taking risks. Entrepreneurship is a risky activity of commencing a business or startup of a new business
Tangibility
Entrepreneur is a tangible Entrepreneurship is an intangible entity
Understanding
An entrepreneur is a person who has an idea and give shape to it Entrepreneurship is a process which gives shape to the idea.
Business Venture
An entrepreneur is the one who start the business and turns an Idea into reality Entrepreneurship is an activity which an entrepreneur undertakes to start a business.
Representation
Entrepreneur is an innovator who chase the dream till the dream becomes true Entrepreneurship as a process through which the process is done

Conclusion:

The basic difference between the Entrepreneur and Entrepreneurship is that an entrepreneur is a person who turns out the idea into a business and takes every risk for the motive of profit making. The process of starting the business and running it, managing the people and organizing every bit of the business is called entrepreneurship. An entrepreneur should be innovative rather than the competitors to make an enterprise successful and achieve its goals and objectives.

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