An Entrepreneur — Entrepreneurship STD 11 Commerce — Question

The motive of an entrepreneur is to start a venture by setting up of an enterprise. One undertakes the venture for his personal gratification.

The motive of an the employee’s job is to render one's service in the ongoing or new enterprise set up by someone else.

An Entrepreneur is the owner of the enterprise.

Employee is the servant in the enterprise owned by entrepreneur.

An entrepreneur being the owner of the enterprise assumes all risks and uncertainty involved in running the enterprise considers and thinks about one’s business 24 hours

An employee being servant does not bear any risk, all that, can happen is one may lose one’s job with or without some compensation. One thinks of one’s enterprise that one is working on duty for certain hours only.

An entrepreneur gets, for bearing risks involved in the enterprise is profit or at times handsome profit, which is uncertain.

An employee gets rewarded for one’s services rendered in the enterprise as salary which is fixed and certain as per appointment letter issued. In addition, one gets a bonus as per prescribed rules and festival tokens etc. in cash or kind, sometimes on performance.

The entrepreneur himself/ herself thinks over what and how to produce goods and services. One has to bear in mind about meeting the changing demands of the customers. Hence he acts as an innovator as well as a change agent.

Employee executes the set plans as per given schedule. Thus one’s job gets to meet up the targets decided by one’s employees.

An entrepreneur needs to possess qualities and qualifications like high achievement motive, originality in thinking, farsightedness, risk bearing abilities and much more.

An employee needs to possess qualification as per the status in the enterprise which are pre-set and detailed in black and white, like an accountant can be C.A/ M.Com etc. and a manager may be an M.B.A. in Marketing/ Finance or Human Resource etc as per the nature of the enterprise.