Management v Enterprise
If the entrepreneur is the “ideas” person who spots the gap in the market and sets up the business, then the manager carries out the daily tasks by using the management activities of Planning, Organising and Controlling.These tasks are performed by people. Therefore the management skills of Leadership, Communications and Motivation are used.
The entrepreneur is the risk taker who has shown the original initiative whereby the manager also shows initiative (Intrapreneruship) but a core element for a manager is communicating with the various parties in a business. In a small firm the entrepreneur is the manager whereas entrepreneurs like Michael Smurfit or Richard Branson employ managers to run daily operations while they dream up their next venture.