Difference between Entrepreneur and Entrepreneurship

 2.10 Difference between Entrepreneur and Entrepreneurship

Aspect	Entrepreneur	Entrepreneurship
Meaning	An entrepreneur is someone who takes the initiative to create a new business venture.	Entrepreneurship refers to the process of creating and managing a new business venture to achieve financial success and make a positive impact on society.
Definition	An individual who initiates and operates a business venture	The concept, mindset, and process of creating and managing a business
Decision-Making	Entrepreneurs make critical decisions about their businesses. The decisions are focused on the initial creation and growth of their business.	Entrepreneurship involves the process of making informed decisions throughout the life of the business. It is mostly ongoing decision-making to ensure the long-term success of the business.
Motivation	Driven by personal vision, passion, and ambition	Driven by innovation, identifying opportunities, and solving problems
Role	Plays an active and hands-on role in the business	Represents the collective qualities and characteristics of entrepreneurs
Ownership	Entrepreneurs own and manage their businesses. They have a personal stake in the success of their business.	Entrepreneurship involves the process of starting and managing a business, regardless of who owns it. It is focused on the processes necessary to make a business successful, regardless of who owns it.
Risk-taking	Takes calculated risks to pursue business opportunities	Embraces uncertainty, takes risks, and adapts to changing circumstances
Creativity	Uses creativity and innovation to develop new ideas	Encourages and fosters creativity and innovation in business ventures
Leadership	Assumes leadership and decision-making responsibilities	Advocates for leadership, initiative, and taking ownership of ideas
Impact	Directly influences the success or failure of the business	Shapes industries, economies, and societal progress through entrepreneurial activities
Growth	Seeks growth and scalability for the business venture	Drives economic growth and job creation through entrepreneurial endeavours
Mindset	Possesses an entrepreneurial mindset and mindset traits	Reflects a culture of innovation, resilience, and adaptability
Personal Risk	Bears personal financial and professional risks	Encourages calculated risk-taking while managing potential risks
Innovation	Entrepreneurs are known for their ability to innovate and develop new products or services. Their primary focus is on developing new ideas and bringing them to market.	Entrepreneurship is focused on creating a business that can sustain that innovation. It includes the processes necessary to support innovation over the long term.
Responsibility	Entrepreneurs bear the responsibility for the success or failure of their businesses. So, they have the ultimate responsibility for their business.	Entrepreneurship involves various processes and activities involved in creating and managing a business. It includes broader responsibilities such as financial management, marketing, strategic planning, and leadership.
Focus	Entrepreneurs focus on identifying business opportunities and turning them into profitable ventures. They have a narrower focus on the initial creation of a business.	Entrepreneurship is focused on creating and managing a successful business. It includes the long-term management and growth of that business.