The Difference Between An Entrepreneur And A Business Owner

Every entrepreneur was started as a small business owner. The economy was founded by numbers of small business and by time, some business owners seek a room on growth, and some are satisfied with the current condition. Today, as the phenomenon of globalisation, an interesting idea could transform itself to be a business opportunity if an entrepreneur is keen to. In fact, an entrepreneur could be a small business owner (SBO); however, not every SBO could be seen as an entrepreneur. This essay develops the understanding of the difference between an entrepreneur and a business owner as well as entrepreneurial self-efficacy and its relations of one’s performance. The study of entrepreneurship was first brought out by Schumpeter (1934), his work had sum up a brief description of an entrepreneur. Entrepreneurs are those who continuously seeking opportunities on economic development or growth of the business. They are keen on commercialising an idea, product or service and embrace innovation to start up a business venture. Zhang and Zhang (2016) also see entrepreneurs are keen on opportunities recognition, resource co-optation and using an innovative approach to archive the organizational goals. Entrepreneurship is not necessarily corresponding to small business, Sahut and Peris-Ortiz (2014) clearly illustrate the relationship between small business; entrepreneurship and innovation. In fact, these three topics are closely related and yet discrete. Harvard Business SchoolShow MoreRelatedEntrepreneurship1228 Words   |  5 PagesSimilarities and differences between a manager, a business owner and an entrepreneur Date: 12/8/2011 Version: 1.0 Student Number: 110369257 Module: BUS1004 Similarities and differences between a manager, a business owner and an entrepreneur By Henry Amm Introduction The public perception of entrepreneurs today is almost legendary. 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