Difference Between Entrepreneur And Entrepreneur

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INTRODUCTION Both small businesses and entrepreneurs are key for the economic growth and development for any given economy (Lucky & Olusegun, 2012). It is common to get the two mixed up, as they tend to achieve the same goal, however they differ considerably and hence, it is important to distinguish between a small business and an entrepreneur (Darren & Conrad, 2009). Oxford English Dictionary defines an entrepreneur as “a person who sets up a business or businesses, taking on financial risk in the hope of profit.” Small businesses (SB) can be described as any business that employ less than a 100 people, according most countries around the world. Therefore entrepreneurs and small business owners are synonymous (Martin, 2012). They differ…show more content…
Recognize new opportunities 2. Manage resources to take advantage of those opportunities 3. Provide new and improved goods or services 4. Earn a profit as a reward for taking risk (Lucky & Olusegun, 2012) Whilst it can be argued that a small business owner may be responsible for almost all the same roles, the key difference is that entrepreneurs have an ambition to grow (Martin, 2012). Small business owners are used to working with the same business processes and do not expand. The first stage of establishing a small business or an entrepreneurship is the same but successful entrepreneurial firms must distinguish themselves after above-average growth to achieve global leadership in the future. Most start-ups remain small businesses, as their owners are more comfortable operating a steady, small business. (Martin, 2012) (Martin,…show more content…
He bought a studio in Hollywood in 1923 and soon became known for Mickey Mouse from “Steamboat Willie” which was the cornerstone of their company (Editors, 2015). Constant innovation and capitalizing on risky opportunities are what made him a great. Taking such high risks translated into high profits for Disney and hence he was able to expand his empire. Disney than started working on animated films and was acclaimed for his work. By 1940’s Disney had opened up more studios and was introducing more animated films and TV specials. Disney’s dream of a children’s theme park came true in 1955 with the opening of Disneyland. It was the first amusement park of its kind in the world. Today the multi-billion dollar Disney empire includes multiple TV networks, motion picture studios, theme parks and record labels. Even though he started off as a small business owner in 1923 he is known as an entrepreneur by achieving immense growth of his business. SMALL BUSINESS OWNER: BAKER STREET
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