Difference between entrepreneur and intrapreneur is an important subject area to be aware of. Entrepreneur and intrapreneur are two different people who come under business terms. In the present day, everyone would have heard the term ‘entrepreneur’. But, ‘intrapreneur’ might sound new. Before going into their differences, it is better to know the definition of entrepreneur and intrapreneur. Most probably, both of them are leaders and innovators. They have the traits like leadership, intelligence and adaptability. Let’s focus more precisely on each term.
Who is an entrepreneur?
An entrepreneur is someone, who starts a business with their own idea and individuality. The person has to be willing to take risks for their business. They are the investors who provide the capital funds for the company or business. Entrepreneurs become the principal decision makers of every need and demand of the business. More than that, they are the leaders, initiators and innovators of any new ideas. Entrepreneurs hold the highest power of their business. They make the choice of everything. But there is a difference between entrepreneur and intrapreneur. There are more than five types of entrepreneurship and their definitions will help you to define your style.
Who is an intrapreneur?
While learning about entrepreneur, know that there is difference between entrepreneur and intrapreneur. An intrapreneur is more likely an employee or a worker of a company or an organization. Intrapreneurs work for companies or organizations. They are under the control of their heads but they have responsibilities to lead a project. These intrapreneurs work to scale up the growth of products, services or the company itself. They take all sorts of risks to improve the performance and profit of companies. However, they are the idea makers and change makers of the company. This explains the importance of intrapreneurship for a business.
Difference between entrepreneur and intrapreneur
As the roles and responsibilities of entrepreneur and intrapreneur are discussed above. It is time to know the difference between them. There are several key difference between entrepreneur and intrapreneur. Entrepreneurs establish new company or organization with unique ideas and concepts. Whereas, intrapreneurs are employees, working for the innovation and improvement of ideas, products and services of the company. Entrepreneurs are decision makers. On the other hand, intrapreneurs are idea makers and developers. Their decisions will depend only on their particular projects.
Entrepreneurs are independent with respect to all aspects of business. But, intrapreneurs are dependent on the decision of their company. It is obvious in the first place that entrepreneurs are the founders of their company. In fact, they are the boss. Hence, the intrapreneurs are the employees of the companies of entrepreneurs. The responsibility lies higher with entrepreneurs since they take whole charge of their companies. But it is opposite to intrapreneurs, as they solely take responsibility of their project only. Thus, entrepreneurs have lots of work to monitor and are completely occupied to plan everything. The same goes for taking risks in a business. Entrepreneurs have to be bold and consistent in taking risks.
When it comes to money, entrepreneurs use their own for investing. They have to be financially stable for starting a business. It is straight opposite that entrepreneurs provide the salary for intrapreneurs. On purchasing, it is entrepreneurs’ money is used and intrapreneurs use them for the company. Overall, the difference between entrepreneur and intrapreneur makes it clear that entrepreneur is the owner and intrapreneur is an employee. This makes it clear that both of them have different roles to perform.