Question

Compare and contrast the following:

• Innovation driven enterprise vs Small, Medium enterprise
• Sole proprietor, vs Corporations
• Intrapreneur vs entrepreneur
• Non-Profit vs For Profit
• Social Entrepreneurship vs Business Entrepreneurship
• Entrepreneur vs entrepreneurship vs entrepreneurial

Answer 1

1. Innovation driven enterprises are those enterprises who continuously evolve and innovate their products, machines, tools, techniques to get better productivity, quality and profits Whereas Small, Medium enterprises are those that have low productivity and revenues. They usually don't implement new methods and techniques.

2. Sole proprietor is an individual who is running a business. He takes all the risks, profits and decision makings etc, Whereas Corporations are large group of peoples who work together for common goals and objectives. They collectively share profits and take decisions.

3. Intrapreneur is an employee within an organisation who take new initiatives and innovations for the benefit of the whole organisation Whereas an Entrepreneur is a person who starts a new innovative business. He is free and takes decisions himself. He takes all the risks and profits.

4. Non Profit Organisations are those organisations that work for the benefits of the general public. For Example, Government Hospitals. Whereas Profit organisations are those that work for their own profits like private banks.

5. Social Entrepreneurship is that type of entrepreneurship that start a new venture to solve a social problem, The social Entrepreneurs innovate new ways and methods to solve social and environment issues. This include social NGOs.

Whereas Business entrepreneurship is the start of a new venture using innovative products, techniques and machines for the purpose of monetory benefits.

6. An Entrepreneur is an individual who start a innovative business for the purpose of personal benefits. Entrepreneurship is the act of starting a new innovative business or organisation and becoming an entrepreneur. Whereas Entrepreneurial is a person who thinks to become an entrepreneur but is not an Entrepreneur.