ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A businessman aims for profit but an entrepreneur prefers to gain experience
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A businessman is involved in trading activity but an entrepreneur is involved in production
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An entrepreneur always has new ideas and tries to expand his business, but a businessman sells existing products
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An entrepreneur gives priority to quantity, but a businessman gives priority to quality
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Detailed explanation-1: -The significant difference between an entrepreneur and a businessman is that an entrepreneur comes up with a unique concept or idea, while a businessman sets up a business as a new entrant in an existing market on industrial or commercial grounds.
Detailed explanation-2: -Businessmen run their business for the primary purpose of making profits. Entrepreneurs intend to make profits but with a purpose of making a difference. They want to change the world by addressing a problem. They are passionate about providing unique solutions for problems in the community.
Detailed explanation-3: -The most prominent difference between the entrepreneur and manager is the position that they hold in an organisation. An entrepreneur is the owner of the business concern while the manager is an employee of the business concern.
Detailed explanation-4: -1. Employees seek direction while entrepreneurs create a path. Employees tend to seek help when a problem arises at work. Entrepreneurs create the solutions that keep the organization moving forward.
Detailed explanation-5: -An entrepreneur starts and builds a business enterprise. He is the leader of the company, the chief executive officer. An administrator is someone who manages a department, division, or functional area within an organization.