entrepreneur & manager

managerPeople who perform management can be designated as

managers.A manager performs work or achieves goal by, with, and

though the efforts of others.A manager is responsible for the work performance of

group members.They work with the wide variety of job- team leader,

department head, project manager and more.

Characteristics of managerGoal oriented Formal authority Responsibility Purpose Improves work environment

Manager’s job

Deciding what to do

Deciding how to do it

Functions of managersPlanning : planning is deciding in advance what to do and

how to do. It is one of the basic managerial functions. Planning therefore involves setting objectives and developing an appropriate course of action to achieve objectives.

Organizing: organizing is assembling and coordinating the human, financial, physical and other resources needed to achieve goals.it is building a dynamic organization.

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Staffing: staffing is the process of planning, recruiting, training and maintaining human resources in an organization. In staffing, a manager recruits and selects suitable personnel for manning the jobs.

Directing: directing is a complex managerial function consisting of all the activities that are designed to encourage subordinates to work effectively. It includes supervision, motivation, communication and leading.

Controlling : controlling means ensuring that activities in an organization are performed as per the plans . Also ensures that resources are to be used effectively and efficiently.

entrepreneur vs manager

Entrepreneur ManagerOwner – an entrepreneur is the

owner of his business.Profit – an entrepreneur earns

profit from his business which is uncertain & limited.

Full risk bearing- an entrepreneur is a person who takes high risk for running or starting venture.

Servant- a manager is a servant of his employer.

Salary – a manager earns salary is limited & certain.

No risk bearing – a manager takes less or no risk while performing his job.

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All functions: An entrepreneur has to look after all the functions of the organization.

Innovator: An entrepreneur is always an innovator, in the lookout for new product or services.

Selective functions: An manager looks after selective functions of an organization.

Executor: A manager is simply an executor who is responsible for executing the decisions of the owner and entrepreneur.