The major point of distinction in between the entrepreneur can be well-understood from the points given below: - Basis of DistinctionEntrepreneurManagerMeaningAn entrepreneur is a person who starts a new venture by converting an idea into a business. The entrepreneur properly understands the venture for his own gratification.A manager is a person who renders his management services to the organization already set up by an entrepreneur. He has the responsibility of controlling and administering the organization.StatusAn entrepreneur is the owner of a business venture. He bears the whole financial risk for earning profits. He is just the employee of an organization who works on a salary basis. Managers do not have to bear the risk. FocusesHe pays attention to starting a business and expanding its operations.He focuses on the daily operations of the business for ensuring smooth functioning.RewardsAn entrepreneur gets profit which is uncertain as a reward for bearing the business risk.The manager gets a fixed salary as a reward for rendering his management services to the organization.Approach to taskHe can be casual and informal in his role. He needs to be formal to every problem. QualificationsAn entrepreneur needs to possess qualities such as foresight, risk-bearing ability, high achievement motive, etc.Managers possess a better knowledge of management theories and practices. InnovationHe brings in innovative ideas and he thinks about producing new products as per the changing demands of consumers. He is termed as an ‘innovator’.He is simply responsible for executing the ideas of an entrepreneur. The manager translates these ideas into business practices. Risk orientationRisk-takerRisk-averseDifference Between the Entrepreneur and Manager