Entrepreneurship versus self employment

Entrepreneurship-and-Communication-Skills-notes
  1. 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 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

5. Procure raw materials and other input

of production

5. Utilizes the raw materials and other

inputs in the process of production

 

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 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

 



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