Though both the terms entrepreneur and entrepreneurship are almost similar they possess several differentiating terms with them. The differences between the entrepreneurs and entrepreneurship are as follows:-
Entrepreneur | Entrepreneurship |
An entrepreneur one who undertakes and operates a new enterprise and assumes some accountability for the inherent risks. | Entrepreneurship is the practice of starting new organizations, particularly new businesses generally in responses to identified opportunities. |
Entrepreneur is often synonymous with founder. | Entrepreneurship ranges in scale from solo projects to major undertakings creating many job opportunities. |
The person who starts and operates a business enterprise is an entrepreneur. | The process in which an entrepreneur starts and operates his business enterprise is entrepreneurship. |
The entrepreneur is a coordinator as he coordinates all the three elements of production i.e. land, labor and capital. | Entrepreneurship is the coordination maintained by an entrepreneur. |
The person who innovates something new is an entrepreneur. | The innovation of something new or the process of innovation is entrepreneurship. |
He who leads an enterprise towards its vision thorough leadership, motivation is an entrepreneur. | The way in which an entrepreneur leads his manpower, motivates them for the achievement of the firms goal is entrepreneurship. |
He who bears risk of the firm for the sake of making a reasonable profit is an entrepreneur. | The risk bearing practice that is done by an entrepreneur is entrepreneurship. |
From the above table we can easily distinguish between these two terms entrepreneur and entrepreneurship as they are far different from each other.
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