- Entrepreneurship means risk bearing, desire to establish industrial unit, creativity and innovative ability shown in an enterprise
While self employment means to establish a business or industrial unit by own self, organize it and manage for profit motive.
2. Size of unit
Entrepreneurship leads entrepreneur from small scale industry to large scale industry. In self employment, generally, the rise of unit is comparatively small
3. Creation of new opportunities
By entrepreneurship, new opportunities can be created continuously while in self employment, there is lower probability of creating new opportunities continuously.
| Entrepreneur | Entrepreneurship |
| 1. It’s a person | 1. It’s a process |
| 2. Is an organizer | 2. It’s the organized form of initiative |
| 3. Is a risk taker | 3. It’s a risk taking activity |
| 4. He is an innovator | 4. It’s the process of innovation |
| 5. Is a good planner | 5. It’s the planning for successful
performance |
| 6. Is a decision maker | 6. It’s a decision making activity |
| 7. Is a visualize | 7. It’s the vision itself |
| 8. Is an administrator | 8. It’s the administration |
| 9. Is an initiator | 9. It’s the initiative |
| Entrepreneur | Entrepreneurship |
| 1. It’s a person | 1. It’s the business unit |
| 2. It’s a risk take | 2. Unit involved in risk and uncertainty |
| 3. He is a decision maker | 3. Serves as the framework within which decisions are made e.g. what to produce, |
| how much
produce etc |
to | produce | and | where | to | ||||
| 4. Engages himself selling the product | in | producing | and | 4. Involves harmonious interrogation,
function and purpose of making or selling the products/services |
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| 5. Procure raw materials and other input
of production |
5. Utilizes the raw materials and other
inputs in the process of production |
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| Entrepreneur | Manager |
| 1. Its an innovator | 1. Makes decision on established
rules, policies, and procedure |
| 2. Is a moderate risk taker | 2. Does not undertake any risk |
| 3. Are not guided by the motive of profit of all time. They continuously put
efforts of achieving the goals |
3. Are interested in salary which is fixed and certain |
| 4. Is self employed and is his own boss | 4. Is salaried and is dependent on his
employer |