With Welingkar announcing its shortlist, lets discuss the most "Hot favourite", topic at Welingkar last year.
I personally believe, that anybody who wish to get an MBA should be able to talk on this topic. Again, be informative and creative.
P.S.: Even if you are referring to other online stuff, be wise enough to re-write it in your own words, than just doing a "copy-paste".
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when comparing both them we will first look into the definations.The one who manages and directs their team are the managers. while the who manages, oraganise and invest their capital into their organisation and always willing to take the risk are the entrepreneurs. All entrpreneurs can be managers but all managers cannot be entrepreneur.Managers have control over their team and sees to it that the team works accordingly while the entrepreneurs have both control and responsibility how the team works and how further the business to be developed for future.Managers does have to invest capital into the organisation.They are risks free. they are being provided with the fixed salary.while entrepreneurs do have any type of salary their income depends upon the profit of their organisation.Entrepreneurs can make their own decision while managers have to depend upon their heiarchy for making the decisions.entrepreneur is generally considered as leaders as they direct the things while managers have to follow the command of their superior.thus entrepreneurs are onewho manages his firm as well as the managers while managers are the one who will complete the work assigned by the entrepreneur in a stipulated time.
ReplyDeletei would like to give some brief regarding these teo words.
ReplyDelete1) entrepreneur
He is the person who initiate the business from scratch(in most of the cses),with his own creative idea.
2) Manager.
Again he manages the things/work have responsibility but to some extent, i mean to say it is limited.
There are lots of entrepreneurs like Richard Branson, Bill Gate etc.
Lets take example of Richard Branson , who initially started 'STUDENT' magazine , then slowly slowly he expanded his business like he enterered in the aviation then telecom sector etc.
I mean he has utilized his own idea, his own plans and he was solely free to take descisions
and solely responsible as well.
In the case of manager if we see he has to organise his tasks effectively at the same time have to depend on others for approval on any descision . I mean to say is , he is not free to take descision.
Most important and funny as well.
entrepreneur is like more money in liquidity in the market.if he succeeds then he will be on top in terms of money otherwise a FLOP SHOW.
Manager is like money invested more in securities in the market.so its like he performs well he'll get bucks and still gets the same even when he flops.
But i personally feel that entrepreneur is better than manager bcos everyone has the skillset and he/she show by selecting entrepreneur as option.
I would like to add examples of Dhirubhai ambani & Narayan murthy.
ReplyDeleteDhirubhai ambani was born to a school teacher. At the age of 16, he moved to yemen to work with A.Besse & Co. at the salary of Rs.300. At the age of 30 years, he started Reliance Commercial Corporation with a capital of Rs.15,000. and converted it to crores of rupees. He haven’t been to any management school but he had entrepreneur characteristics inbuilt. His open door policy ,considerate nature and passion for work are few of the characteristics of a manager but he was a great entrepreneur.
Narayan murthy was an electrical engineer from maysore & he completed his degree of masters from IIT Kanpur. He worked for IIM-A , patni computers & then with 6 other software engineers he founded Infosys. These entrepreneurs have started their business by own ideas, they have taken risks aimed high to reach their goals. all happened cause they were inbuilt managers. So an entrepreneur can be a manager, but every manager can not be an entrepreneur. Because all manager holding a degree may not risk a constant income source to create something out of scrap.
To b a manager u need to have a qualified degree without which u cannot b posted to the manager's designation whereas to b an entrepreneur u dnt need to hav a big qualifying degree for that u jus need to hav the ability, skills, talent, passion to do sumthin different n ofcourse capital also. manager's dnt hav the sole decision power as they need to consult the top line authority n an entrepreneur is independent to take the decision on its own.Manager cant share the company profits but can get the bonus whereas entrepreneur dnt need to share his profit(unless the company isnt stock listed then has to share wid the stakeholders).Bill Gates was a school drop out n nw c where he is wich is a history......
ReplyDeleteas definition stated my frnd Anonymous, Janardan is correct. further on this topic:
ReplyDeleteAn entrepreneur is involved with the start-up process while A manager with running the business over a long period of time. An entrepreneur assumes financial,material and psychological risks wheres A manager does not have to bear ANY risks.
one of the BASIC IMP. diffrence is An entrepreneur is his own boss. While A manager is a hired employee.
An entrepreneur gets uncertain rewards as profits, wheres A manager gets fixed rewards as salary or might there b Commission on flexible time.
In short an entrepreneur is a person who
perceives opportunities, organizes the resources needed to exploit the opportunity
and sets up an enterprise and manager is a person who, works on tht enterprise in long run to make a successful enterprise.
Sorry friend, for Becoming manager its not required to Get degree, but its required to Possess commonsense which is very uncommon. take an example for Becoming an Engineer u need to get BE from university, for CA need to get degree from ICAI, for doctor need to get medical degree from University. but for becoming managers its not reqired degree from university.
ReplyDeleteManager is the person who is responsible for well being of organisation, if he is incompetent then the whole organisation suffers.
Entrepreneur is the Person who is responsible for building an Organisation, at the early age of organisation Entrepreneur plays role of Manager as well as his own.
Entrepreneur directs his organisation, while manager follows his leader.
Every person who is working is manager of his own. If every one does his own role efficiently then Post of manager is not required. then new post will emerge "Work Co-ordinator" who will distribute the work to everyone.
entrepreneur:
ReplyDeletean entrepreneur is a person who starts a new business venture.However, we tend to think of entrepreneurs as people who have a talent for seeing opportunities and the abilities to develop those opportunities into profit-making businesses.we know that entrepreneurs are wild risk-takers. Entrepreneurs do take risks, but only calculated ones. One of the abiliities successful entrepreneurs share is the ability to evaluate risks.
managers:
A Manager is the person responsible for planning and directing the work of a group of individuals, monitoring their work, and taking corrective action when necessary.Managers may direct workers directly or they may direct several supervisors who direct the workers. The manager must be familiar with the work of all the groups he/she supervises, but does not need to be the best in any or all of the areas
managers as compared to entrepreneur are not risk takers