Quite often an entrepreneur and a manager are considered similar. The roles of two may overlap in many cases. In small firms, the owner himself acts often as the manager. But there are important differences between a entrepreneur and a manager.

1.    Venture Creation: An entrepreneur often sets up a new venture while a manager only runs an existing venture.

2.    Innovation: An entrepreneur introduces new ideas to increase profits and is, therefore, an innovator. On the other hand, a manager runs the business on established lines and often maintains the status. An entrepreneur is a change agent whereas a manager is the product of change. Entrepreneurship involves combining to initiate changes in production whereas management involves combining to produce.

3.    Bearing of Risk: An entrepreneur assumes risk of economic uncertainties involved in the enterprise. A paid manager, on the other hand, undertakes no risk.

4.    States: An entrepreneur is his own boss and enjoys an independent status. In contrast, manager is an employee and dependent on the owner.

5.    Reward: For bearing risks, an entrepreneur earns profits which may fluctuate widely from one time period to another. But the reward of a manager is the salary which is relatively fixed and regular.

6.    Continuity: Management refers to the ongoing co-ordination of the production process whereas entrepreneurship is a discontinuous phenomenon appearing to initiate change in the production process and then disappears until it reappears to initiate another change.

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