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Basis of Differentiation
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Entrepreneurship
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Management
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Focus
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Business start-up
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Ongoing operations of an existing business
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Resource orientation
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The entrepreneur does not feel the constrained by resource. Entrepreneur mobilizes the resources
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A manager is constrained by his resources at his disposal.
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Approach to the task
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Informal
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Formal
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Primary motivation
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Achievement
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Power
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Status vis-a vis the enterprise
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Owner
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Employee
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Primary economic reward
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Profit
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Salary
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Innovation orientation
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Challenges the status quo i.e. the existing
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Maintains the status quo i.e. the existing
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Risk orientation
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Risk-taker
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Risk-averse
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Approach to decision-making
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Driven by inductive logic and personal courage and determination
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Driven by deductive logic and research
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Scale of operations
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Small business
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Large business
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Primary skill requirement
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Opportunity spotting, initiative, resource negotiation
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Organising, systems design and operating procedures, people management
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Specialisation orientation
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Generalist has to know and do all the trades by himself
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Specialist
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