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For courses in Small Business Management, Entrepreneurship, New Venture Creation, and New Venture Management. Essentials of Entrepreneurship and Small Business Management, 5/ e is the practical, how- to guide that gives students the tools to launch a new venture and the knowledge for entrepreneurial success. The main difference between entrepreneur and manager lies in their standing, i. while an entrepreneur is the owner of the organization and so he is the one who bears all the risks and uncertainities in the business, the manager is an employee of the company. Comparison Chart. Essentials of Entrepreneurship. In developed countries, the Small & Medium Enterprises ( SMEs) are the key factors which bring economic growth, employment opportunities and prosperity to the society. Flourishing SME sectors are the healthy sign that the economy and the society is growing and sustaining. The difference between small business managers and entrepreneurs lies in the scope of their work. One can perform both roles over a business' lifetime, but distinct skills will enhance the ability to fulfill each role.

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