5 Questions
What is a key difference between a businessman and an entrepreneur?
Businessmen start a company to bring a product to the market, while entrepreneurs franchise and retail.
Which trait is more associated with entrepreneurs?
Pursuing passion over profit.
What is a common characteristic of businessmen according to the text?
Seeing every minute as an opportunity to help people.
How do entrepreneurs differ from businessmen in terms of product/service development?
Entrepreneurs take time to perfect their product, while businessmen see every minute as an opportunity.
Which skill is highlighted as important for both businessmen and entrepreneurs?
Ability to make wise decisions.
Study Notes
Businessman vs Entrepreneur
Businessman
- A businessman is an individual who makes a business out of an unoriginal idea, such as franchising and retailing.
- Their primary goal is to make a profit and become their own boss.
- They take calculated and managed risks to avoid losses.
- They see every minute as an opportunity to help people.
Entrepreneur
- An entrepreneur is an inventor who starts a business with limited resources.
- They are willing to risk loss in order to make money.
- They start a company with the purpose of bringing a product or service to the market.
- They are excellent at planning, efficient at communicating, and have the ability to make wise decisions.
- They are passionate about their product and take time to perfect it, even if it means losing time.
Test your knowledge on the differences between a businessman and an entrepreneur. From making a business out of existing ideas to starting a company with limited resources, this quiz covers various aspects of these roles.
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