Sometimes the word entrepreneur and manager are used as synonyms. In fact there are some differences between them. They are described below
Entrepreneur and Manager
Motive: Thinking function. His main motive is to start a new venture by setting up an enterprise.
Doing function: His main motive is to render service to the organization already established.
Status: Entrepreneur is the owner of the enterprise. Manager is the service holder or servant of the enterprise.
Risk bearing: Being owner of the enterprise assume all risk and uncertainty involved in the enterprise. As the servant don’t take or bear risk and uncertainty involved in the organization.
Reward: Reward is profit which is highly uncertain. Get salary as a reward which is fixed and certain.
Innovation: An entrepreneur is an innovator. A manager is not an innovator in that sense he implements the plan prepared by the entrepreneur.
Qualification: They are not highly qualified but have extraordinary experience forecasting. They are highly qualified (institutional education). After the above discussion we can say that at a time an entrepreneur can be a manager but a manager cannot be an entrepreneur.