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

25 May 2021, 10:45 PM

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

The similarities between entrepreneurs and the businessman are that both are putting their effort into their career and work wholeheartedly to pursue their success. Both of them are running their company to earn the profit through their business. Both of them are managing the company based on their decision and sight and leading their company forward. 

The differences are the entrepreneurs have their own unique idea to run a startup company but the businessmen are running their idea based on an existing idea or concept. The entrepreneur runs the business in order to achieve their own vision, but the businessman is running their project to earn the profit for living. The entrepreneurs are having great passion and enthusiasm in achieving their targets. Next the entrepreneurs focus on exploring new markets or new business fields like the CEO and co-founder of Tesla, he is walking on a new road that has never been stepped by others before. He is leading the global manufacturing of the company’s electric vehicles, solar energy products which is searching for the possibilities of converting sustainable energy usage into salesable entrepreneurial products. At the same time, an entrepreneur needs to take the risk of failure but the businessman just repeats others' experience of success which bears a lower risk. 

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

The similarities include both having irreplaceable roles in making decisions for their company. Both need to manage their company as well. Both are equipped with well and effective communication skills to negotiate and also coordinate the progress of their project. Meanwhile both of them not only manage the sources but also manage the people. 

The differences are the entrepreneur has the ability to set a goal, a clear vision to convert an idea into an entrepreneurial product but the manager works for his higher authorities. The entrepreneur has the authority to conduct his business but the manager is required to follow the decision and order from the superiors. The entrepreneur works for his vision and dream but the manager works for his salary. Next the differences can be seen clearly on their way of solution. As I mentioned before, the entrepreneur can make his own decision totally without any constraints so he can have an informal and more casual way to approach a problem. The manager needs to solve the problem in an informal way which means they need to have a clear and rules by rules approach. 

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

I think I have the potential to become an entrepreneur in the future. I can always think outside of the frame and have a creative and innovative mindset. I am clear about my vision also, so that means I can identify and grab instantly the opportunities when they appear around me. But I think I need to practice more on tolerance to failure and train an optimistics mindset.