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

25 May 2021, 11:00 PM

Answer all questions.

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

The similarities between an entrepreneur and a businessman are that both are leading the project or business they are running and the head in the decision-making part.

The differences between entrepreneurs and businessmen are that entrepreneurs start a business from their idea or concept and businessman starts a business from an existing idea and concept. Next, the type of business for an entrepreneur is that is innovative and revolutionary while for a businessman it is traditionally. Moreover, the risk propensity for entrepreneurs is a risk-taker and accountable and for a businessman, it stays safe. Entrepreneurs are market leaders and businessmen are market players. Lastly, entrepreneurs give life to their business while business gives the businessman a living.

2. What are the similarities and differences between entrepreneurs and managers?

The similarities between an entrepreneur and business managers reveal that they are both decision-makers and have managing abilities and can project forward.

The main difference between entrepreneurs and managers is that their role in the organization where an entrepreneur is the owner of the company while a manager is the employee of the company. An entrepreneur is a risk-taker, they take financial risk for their enterprise. A manager usually works for a salary and does not have to bear any risks. Other than that, entrepreneurs always focus on starting and expanding the business ideas and managers focus on the daily smooth functioning of the business. In addition, the key motivation for an entrepreneur is achievements meantime manager's motivations come from the power that comes with their positions. In closing, the reward for all the efforts for entrepreneurs is the profit he earns from the enterprise and as for managers remuneration is the salary he draws from the company.

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

I think that maybe I do have a bit of an entrepreneurial mindset since I kind of have the interest to produce and invent a product that can benefit a lot of people but also at the same time I still need to seek and explore more knowledge so that the product will be truly beneficial, long-lasting and environmentally friendly for the usage of the people now and the next generation.