In simple terms, An Entrepreneur is a person who starts a business based on a novel idea or concept. An Intrapreneur is a company employee who is in charge of developing new products, services, processes, and so on.
In this article, you will know the difference between Entrepreneur and Intrapreneur
Meaning of Entrepreneur:
The word entrepreneur comes from the French language, which was first used to describe someone who organizes musical or other entertainment. The term “entrepreneur” is employed in a variety of ways and with different perspectives. These viewpoints are divided into three categories: risk-taker, organizer, and innovator. Thus, an entrepreneur is someone who strives to create something new, organizes production, takes chances, and manages the economic uncertainty that comes with running a business.
Characteristics of an Entrepreneur:
- Work hard
- A desire for high achievement
- He should be most optimistic
- Visualisation of changes
- Pooling of resources
Meaning of Intrapreneur :
In recent years, a new breed of entrepreneur has emerged in major industrial firms. They’re known as ‘intrapreneurs.’ They emerge from the confines of a pre-existing business. Top executives in large firms are urged to seize innovative ideas and convert them into products through research and development operations within the organization’s framework. In industrialized countries such as the United States, the concept of intrapreneurship has gained a lot of traction. It has been discovered that an increasing number of intrapreneurs are leaving their employment in large corporations to start their own businesses. Many of these intrapreneurs have had tremendous success with their businesses. The following are the differences between an Entrepreneur and Intrapreneur.
Difference between Entrepreneur and Intrapreneur:
|When it comes to business, an entrepreneur is self-reliant.||An intrapreneur is reliant on the proprietor.|
|Raising of funds|
|The money required for the business is raised by the entrepreneur himself.||The intrapreneur does not raise funds.|
|The risk of the business is borne by the entrepreneur.||An intrapreneur is not totally responsible for the enterprise's risk.|
|Operation of organization|
|An entrepreneur is someone who works from the outside.||An intrapreneur, on the other hand, works from within the organization.|
The value of the brand is determined by how inventive its business ideas are and how effective its leaders are at putting those ideas into action. The characteristics of entrepreneur and intrapreneur are quite important in this scenario.