Difference between Entrepreneur and Entrepreneurship, Role of Entrepreneur in Economic Development

1. ENTREPRENEURSHIP
DEVELOPMENT
Mrs. RACHANA PRADEEP
Assistant Professor

5. BASIS OF COMPARISON MANAGER ENTREPRENEUR
MOTIVE Render services in an
enterprise already started by
others.
Start a venture by setting up
enterprise for personal gain
and satisfaction.
STATUS He is servant in an enterprise
owned by some other
entrepreneur.
He is the owner of the
enterprise maintained by him.
RISK BEARING He does not undertake to bear
the risk as he is a mere
servant.
He undertakes to bear the risk
of loss of all kinds as he is the
owner.
REWARDS He gets SALARY as reward. It
is fixed and certain.
He gets PROFIT as
consideration.It is uncertain
and not fixed.
INNOVATION He is not responsible for
innovation .He simply
translates the entrepreneurs
ideas into practices.
He is innovator. He is planner
QUALIFICATIONS Must possess a distinct
qualification.
He need not possess distinct
qualification
COMMITMENT He should be loyal to the He is committed in the

6. ROLE OF ENTREPRENEUR IN
ECONOMIC DEVELOPMENT

7.  PROMOTESCAPITAL FORMATION
 CREATES EMPLOYMENT OPPURTUNITIES
 PROMOTES BALANCED REGIONAL
DEVELOPMENT
 REDUCES CONCENTRATIONOF ECONOMIC
POWER
 WEALTH CREATIONAND DISTRIBUTION

8.  INCREASING GROSS NATIONAL PRODUCT
AND PER CAPITA INCOME
 IMPROVEMENT IN STANDARDOF LIVING
 PROMOTESCOUNTRY’S EXPORTTRADE
 MOBILAIZATION OF LOCAL RESOURCES.
 CONSUMER DEMANDS
 GROWTH OF INFRASTRUCTURE
 DEVELOPMENT OFTRADE

9.  MECHANISATIONAND STANDARDISATION
 INCREASE IN GOVERNMENT INCOME
 CREATING INNOVATION.
 “ECONOMIC DEVELOPMENT ISTHE EFFECT
FORWHICH ENTREPRENUERSHIP ISTHE
CAUSE”