Difference between Entrepreneur and Employee

Date : 11.5.2020
Sub  : Entrepreneurship
Day  : 1
Time : 7.30am -8.10am 
Period : 1 
Class    : 11

Learning Outcome

• Students realise that there is a major difference between an Entrepreneur and an Employee.
• Students come to know that there are certain advantages and disadvantages in both.
• It helps them to decide in future what career they would like to choose

A very good morning students

Thankyou for logging in

We have  almost come to the end of Chapter 2.

After todays class ,we will have just one more topic to go through.

Today we will be learning the diferrence between an Entrepreneur and an Employee

An Entrepreneur is the owner of an Enterprise( Business) and an Employee is in service of the Enterpriseand both work in the interest of the Enterprise.

You need to still know the difference between both.

The following is the difference between Entrerpreneur and Employee

1.MOTIVE : An Entrepreneurs moyive is to start a business by setting up an Enterprise.He does this for his personal satisfaction

While an Employee's job is to give service in an Enterprise set up by someone else.

2. STATUS : An Entrepreneur is the owner of the Enterprise While the Employee is the servant in the Enterprise owned by the Entrepreneur.

3. RISK BEARING : An Entrepreneur being the owner of the Enterprise takes all risks and uncertainity involved in running the Enterprise.While an Employee being the servant does not bear any risk.The only risk he has is that if he does not work properly he may lose his job.He has to think about his job only till he is in the Enterprise.

4.REWARDS : The reward that an Entrepreneur can get is Profits and at certain times Profits beyond his expectation. While in the case of Employee an Employee gets a salary which is fixed in the appointment letter. Some times he may get a Bonus, as per rules . He may also get a reward for his good performance.

5. INNOVATION : As the owner he has to think of how to produce goods and services. He has to keep in mind the changing Demands of the consumers.While an Employee works according to set Plans as per given Schedules.He has to meet targets decided by the Entrepreneur.

6. QUALIFICATION : The qualification an Emtrepreneur needs is of high achievement, originality in thinking, farsightedness, risk bearing, While an Employee needs to possess qualifications as per the status in the Enterprise which are pre-set. like CA, M.COM, MBA,etc

He needs to have the qualification that the Enterprise requires.

Please go through the video links given below to underatand the topic better.

https://www.youtube.com/watch?v=jhT_UnTqCjU

https://www.youtube.com/watch?v=JTdkbad5Cwg

Your assignment would be to learn up my notes .learn the headings well and you can answer them in your own words.