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Answer» Following is the table of differences between entrepreneurship and Management: | Basis of Difference | Entrepreneurship | Management | | 1. Centralised | Centralised in establishing new enterprises. | Centralised planning of business. | | 2. Attitude | Formal attitude of doing work. | Formal attitude of management | | 3. Risk | Bears risk. | Doesn’t bear risk. | | 4 Prize | Share profits | Get Salary. | | 5. Position | Owner. | Employee | | 6. Requirement | Huge amount of resources are required. | Limited resources are required. | | 7. Inspiration | Inspired to achieve objectives. | Inspired to get the task completed | | 8. Specialisation | Perform all tasks whether specialized or not. | Specialised in a respective field | | 9. Decision Making | Making decision in every circumstances. | Making decision on the basis of experience. | | 10. Scale of operating enterprise | Establishing enterprises on small scale. | Run big enterprises. | | 11. Utilisation of resources | Entrepreneurs are not worried about resources. They manage them as and when required. | Management uses the available resources. | | 12. Important basic quality | Identifying business opportunities and using them to the optimum. | Setting up of organisation and maximum utilization of resources. |
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