Difference between an Entrepreneur and an Intrapreneur Assignment

Difference between an Entrepreneur and an Intrapreneur - Assignment Example Entrepreneurs are bold risk-takers. The new business may be profitable or may turn out to be loss-making. Their level of risk is extremely high as there is no-one else to share the burden, which can literally ‘make’ or ‘break’ them. Intrapreneurs are low-level risk-takers. In their role as employees of a business, their amount of risk-taking is limited by boundaries laid out in advance; they are not permitted to exceed those limits when conducting negotiations that could pose risks to the business. Entrepreneurs have clear visions for their new businesses; they are dogged, determined and rigid about their visions, and respond negatively to any alteration proposals. Intrapreneurs have their own visions about ways to develop the business, but such visions are flexible and adaptable in response to organizational shifts. Entrepreneurs are persons who possess a wide range of skills in different fields. They are termed as ‘generalists.’ Intrapreneurs are ‘specialists’ who possess highly trained managerial skills that enable them to concentrate on ways to improve and develop the business (Lifecollege.org). The three forms of management are autocratic, consultative and democratic. Autocratic managers are persons within the organization with total decision-making powers. They give dictatorial instructions to staff members without bothering to ask their opinion on the matter in hand. Consultative managers take final business decisions, but only after soliciting opinions of other employees and analyzing the matter in hand from the perspective of those views. Democratic managers hand over authority to staff members to finish a task allotted to them. The staff members then proceed to complete the given task on time by employing their own set of work techniques. The staff members are part of the decision-making process.