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

25 May 2021, 7:46 PM

Answer all questions

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

The similarities between entrepreneurs and businessmen are they both are decision makers, have managing abilities and can project forward. The difference between entrepreneurs and businessmen in terms of idea generation is that an entrepreneur starts a business from his own unique idea or concept but a businessman starts a business from an existing idea or concept. Next, the entrepreneur's type of business is innovative and revolutionary while businessmen are the traditional type. Entrepreneur is a risk taker and accountable but a businessman always stays safe. In addition, an entrepreneur is a market leader while a businessman is known as a market player. Lastly, an entrepreneur gives life to his business but a businessman’s business gives him living. 

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

The similarities between an entrepreneur and a manager are both of them make a decision in the organization and have a decent communication skill. Meanwhile, the difference between an entrepreneur and a manager is their role in organization. An entrepreneur is a visionary that converts an idea into a business but a manager, on the other hand, works for a salary. Next, an entrepreneur focuses on starting and expanding the business but a manager focuses on business’s daily smooth functioning. The key motivation of an entrepreneur is achievements but a manager got motivated from the power originated comes with their position. Last but not least, an entrepreneur can be casual as well as informal in his role but a manager’s approach is formal all the time.

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

Yes, indeed I have an entrepreneurial mindset because I am a decisive person. I have the ability to make a decision for my own success. To avoid something such as business failure, we are not encouraged to be indecisive. Next, I have the ability to act with confidence. It is one of the most important characteristics of an entrepreneur. We can gain other people’s trust easily based on our confidence in handling a situation. In addition, an entrepreneurial mindset requires accountability. I am able to take control of any kind of outcome. Also, I have the ability to deal with failures. Resilience helps me to think and act wisely. All in all, entrepreneurs are not born. They are driven to it. Having an entrepreneurial mindset will assist us to identify problems and provide solutions.