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your web page. textbook site quizes for ch 1-4
What is the difference between traditional and entrepreneurial management?Second, entrepreneurial functions focus on the long-term performance of the enterprise, while the traditional management functions focus on short-term control needs.
What is the difference between an entrepreneur and manager?An entrepreneur is the owner of the company whereas a Manager is the employee of the company. Entrepreneur is a risk taker, they take financial risk for their enterprise. The entrepreneur has a vision and focuses on achievements and profit. 2.1 Who is an Entrepreneur?
What are the differences between entrepreneurship and business?Businessmen run their business for the primary purpose of making profits. Entrepreneurs intend to make profits but with a purpose of making a difference. They want to change the world by addressing a problem. They are passionate about providing unique solutions for problems in the community.
What are the major differences between traditionally managed firms and entrepreneurially managed firms?Unlike entrepreneurially managed firms, traditionally managed firms focus on minimizing the resources needed to initially pursue an opportunity. Entrepreneurially managed firms are more likely than traditionally managed firms to invest in a potential opportunity on a large scale.
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