1. DEMONSTRATE UNDERSTANDING OF WHO AN ENTREPRENEUR IS

1.1. 1.1 Distinguish between entrepreneurs and business Persons

. Distinction between Entrepreneurs and Business person

 

 

Entrepreneur

Business person

 

An entrepreneur is an investor and the first creator of a product. He invests time, energy and money on his own idea. He doesn’t start business from an unoriginal idea.

 

A business person can make a business out of an unoriginal business or product idea. He enters into existing business, such as franchising and retailing. He chooses a hot and profitable business idea regardless of

whether it is original or a borrowed idea.

Entrepreneurs   are   more   concerned   on

changing the world. They want to pursue their passion and achieve an ultimate goal.

Most business persons are doing business

for profit, livelihood, for reaching their own boss.

Entrepreneurs takes crazy risks, and don’t care of losing time and money just to pursue their passion.

Businesspersons take calculated and managed risks. They cannot afford to lose money or suffer from bankruptcy.

An entrepreneur is a friend and a leader. He finds peers and people whom he will never

treat as machines.

A businessman is an employer and a manager. He hires to help his business

grow.

An entrepreneur sees customers as his

source of duty and fulfillment.

Businessperson sees   customers   as   his

source of sales and revenues.

Entrepreneurs try hard to beat his worst

competition.

A businessperson tries harder to beat his

competitors and win the competition

Entrepreneur sees the world as duty rather than an opportunity.

Works as   an   artist   his   product   is   a

masterpiece.

Businessmen    sees    the                         world as      an opportunity.

Businessmen doesn’t waste any time