Difference Between Entrepreneur And Intrapreneur:
The main difference between an entrepreneur and an intrapreneur is that intrapreneur is an employee, and an entrepreneur is an independent and chief operating officer. In other words, the difference between an entrepreneur and intrapreneur is that an entrepreneur refers to a person who starts his own business with a new idea or concept, and intrapreneur represents an employee who promotes innovation and ideas within the limits of the organization. In this excerpt from the article, we provide some other important points of distinction between the two.
As both the entrepreneur and the intrapreneur share similar qualities such as conviction, creativity, zeal and insight, the two are used interchangeably. However, the two are different, since an entrepreneur is a person who assumes a considerable risk to own and operate the business, in order to obtain benefits and benefits from that business. He is the most important person who visualizes new opportunities, products, techniques, and lines of business and coordinates all activities to make them a reality.
Entrepreneur: the term ‘entrepreneur’ is of French origin that means’ go-between or ‘between policyholders’. An entrepreneur is a person who creates a new company by assembling inputs (that is, land, labor, and capital) for production purposes. It assumes all risks and uncertainties, in order to achieve profits and growth of the commercial enterprise by identifying new opportunities and combining resources in order to capitalize on them. Innovate new ideas and business processes.
Intrapreneur: An Intrapreneur is nothing more than an entrepreneur within the limits of the organization. An intrapreneur is an employee of a large organization, which has the authority to initiate creativity and innovation in the company’s products, services, and projects, redesigning processes, workflows and the system with the aim of transforming them into a Successful company of the company.
Intrapreneurs believe in change and do not fear failure, discover new ideas, take risks, and seek opportunities that can benefit the entire organization, Intrapreneur promote innovation to improve performance and profitability, resources are provided by the organization. The work of an intrapreneur is extremely challenging, therefore, they are appreciated and rewarded by the organization accordingly.
|Basis of Comparison||Entrepreneur||Intrapreneur|
|Meaning||Entrepreneur refers to a person who set up his own business by taking financial risk with a new idea or concept to get profit||Intrapreneur refers to an employee of the organization who takes responsibility of controlling and administrating innovations in product and service in an organization|
|Work for||Entrepreneur works for creating a leading position in the market||Intrapreneur works for bring change and renew the existing organizational system and culture|
|Focus||The focus of entrepreneurs are business startups||Intrapreneurs focus on ongoing operations|
|Risk orientation||Entrepreneurs are risk takers||Intrapreneur are risk averse, and it is taken by the company|
|Reward||Entrepreneurs are rewarded by profits||Intrapreneurs are rewarded by increment in salaries|
|Resources||In case of entrepreneur, they use own resources||In case of intrapreneurs, the resources are provided by the company to use|
|Status||Entrepreneurs are the owner of the business||Intrapreneurs are the employee of the business organization|
|Approach||The approach of entrepreneurs is intuitive||The approach of intrapreneurs is restorative|
|Capital||Entrepreneurs raised capital by themselves||In case of intrapreneur the capital is financed by the company|
|Dependency||Entrepreneurs are independent||Intrapreneurs are dependent on organization|
|Enterprise||Newly established||An existing one|
Also read: Concept of entrepreneurship, Types of entrepreneur, Process of entrepreneurship, Need of entrepreneurship, Barriers of Entrepreneurship, Control process, Types of control, Control techniques, Theory of motivation