Entrepreneurs and businessmen are both essential parts of the business world, each with a different thought process. They create two distinct but significant values in the market. Entrepreneurs are more likely involved in innovation by creating new business ideas. They are more interested in startups or technology-based innovative businesses and want to explore different places for experience.
Businessmen, on the other hand, are more likely to operate within an established idea or business, focusing on growing the existing business. Entrepreneurs enjoy the flexibility of their workspace, whereas businessmen prefer a controlled environment. Entrepreneurs are willing to take risks to pursue out-of-the-box ideas, often going beyond their comfort zones to innovate in the business market. Conversely, businessmen tend to avoid risks and stay within their comfort zones.
Entrepreneurs have a growth-oriented mindset, focusing on innovation, flexibility, and adaptability. In contrast, businessmen have an efficiency-oriented mindset, emphasising reliability and consistency. Both businessmen and entrepreneurs create value in the market in different ways. Entrepreneurs differentiate themselves by generating potential business ideas and fostering competition in the market, while businessmen maximise profit and market share in existing businesses.
To remain competitive, organisations need both businessmen and entrepreneurs to fulfill different aspects of the market.
Nabiha Hassan
Student
North South University
nabiha.hassan@northsouth.edu