Forums | GRADUATE SUCCESS ATTRIBUTES UHMT1012 SEM 2 SESION 2020/2021

25 May 2021, 3:30 PM

1. What are the similarities and differences between entrepreneurs and businessmen?

Similarities between entrepreneurs and businessmen

• Both of them are driving for effective business modeling which can gain good feedback on their projects for instance like having a direct sale, franchising, advertising-based such as a business that combines internet retail with sporting organizations like NBA and football.
• Both of them are trying to create companies for the general public by making an initial public offering (IPO) to be successful and they can keep selling the stock to the public.

Differences between entrepreneurs and businessmen

• Businessmen always choose a profitable business idea and currently the idea already existing idea which makes them need to compete in the market meanwhile entrepreneurs are creating their products which inspired and originates by themselves.
• Businessmen often work for making a profit, target their products can be a demand in market and monopoly the business meanwhile entrepreneurs are passionate and enjoy to do their work. They also do not prioritize several profits but more to gain experience and see further about the world.
• Businessmen will hire employees and workers to help them in running the company which provides a specific department in the company and they will ensure that employees will follow all instructions that given by them and achieve their target. So, they always maintain as workers and boss’s relationship. Entrepreneurs treat their employees as a friend and a leader, they will have a verbal communication which everyone can express their own opinions and ideas before proceeding to their projects.

      2.  What are the similarities and differences between entrepreneur and manager?

Similarities between entrepreneur and manager

• Both of them play their roles in the organization to manage their projects and become decision-makers.

Difference between entrepreneur and manager

• An entrepreneur needs to combine his skills with courage and business idea to become a reality which he also must take a risk on his decision while the manager is employed to manage the operations and resources of the business and trying to achieve the target based on company demand.
• An entrepreneur can be informal and casual in his role. His time to work and on duty also more flexible compares to the manager. The manager has to approach everything in a very formal way because he needs to follow the company’s policy.
• An entrepreneur gains the profit from the enterprise or company meanwhile, the manager is an employee, so he always depends on a salary draws by the company.

     3. Have you ever think that you have an entrepreneurial mindset? 

No, I think I am still not can reach that stage as many things that I need to improve such as my thinking skills, communication skills, and entrepreneurial skills.