Both managers and entrepreneurs play an important role in every business. There are several common characteristics for these two roles but at the same time, there are some differences which are coming in terms of management.
When the overall goal of the business is concerned managers and entrepreneurs have different focusing elements. While an entrepreneur is concerned with the essential components for getting the business into full working wheeras managers are concerned with how to make the business sustain efficiently. A manager helps in getting things done within the limitations whereas entrepreneurs are more focused on doing further development of existing products to compete with the competitors.
Entrepreneurs usually have a long-term vision for planning about products being manufactured by the company. Entrepreneurs usually foresee the requirement in the market and plan developing product features according to it. In the case of managers, the vision of business owners will be executed with efficient ways. While entrepreneurs try new innovative methods for product development managers try methods which are often tried earlier in other business cases.
Most entrepreneurs are risk takers while managers usually carry out tasks according to the stipulated policies. The risk factor of an entrepreneur is also a calculated way of achieving outcomes which are planned ahead of time. In most of the cases, entrepreneurs will have to plan without any statistics to refer while managers tend to approach problems based on previous statistics. In the case of calculated risks taken by managers, more assurance will be given to the business owners.