Question

Which of the following statements does not clearly distinguish between entrepreneurship and management?

Options

• Entrepreneurs are the founders of the business and their managers operate it 

• Entrepreneurs are the owners of their business; managers are employees

• Entrepreneurs earn profits; managers earn salaries

• Entrepreneurship is once for all activity; management is a continuous activity

Answer 1

Entrepreneurship is once for all activity; management is a continuous activity

Explanation - 

'Entrepreneurship is a once-for-all action; management is an ongoing activity,' says one line that does not properly distinguish between entrepreneurship and management. It's commonly believed that after a business is up and running, the entrepreneur's role ends and the manager takes over to run and stabilise it. Even once the business is founded, however, entrepreneurs remain involved in the day-to-day operations. They also take on supervisory responsibilities as needed. In other words, just as managers are expected to take on entrepreneurial roles when needed, entrepreneurs are expected to take on managerial roles as well.