Difference Between Entrepreneur and Intrapreneur

Who is an Entrepreneur?

An Entrepreneur is an individual who introduces an innovative idea, develops a suitable business strategy, and takes the required risks to establish a new business. They are more motivated by creativity and original ideas than by working with already existing business strategies. For those interested in this path, pursuing a career as Entrepreneur allows you to build creativity and strategic thinking abilities. Also, enrolling in Entrepreneurship Courses is highly useful to develop key skills to succeed in this field.

Essential Entrepreneurial Skills:

• Innovative and creative

• Takes high risks

• Creates new market opportunities

Who is an Intrapreneur?

Entrepreneurs work and use their entrepreneurial skills in an already established business organisation. They are not the founder, but they actively use their entrepreneurial insights for the benefit of the organisation they are working for. This clearly portrays the difference between Entrepreneur and Intrapreneur with examples.

Key qualities of an Intrapreneur:

• Proactive

• Strategic and collaborative

• Organised and dependable

Key Differences Between an Entrepreneur and Intrapreneur

There are a few major areas where the difference between entrepreneur and intrapreneur exists. Their goals and approaches vary significantly. Below, we discuss the major difference between Entrepreneur and Intrapreneur with examples.

1. Concept

There is a significant difference between Entrepreneur and Intrapreneur besides the similarities.

• An entrepreneur is a person who is ready to introduce innovative ideas and to establish a new business. The individual’s goal is to expand and maintain a successful business by incorporating strategic measures and plans.

• An intrapreneur is someone with entrepreneurial skills and they work to improve the business of the organisation they are working for.

2. Goals

The difference in goals contributes to the difference between entrepreneur and intrapreneur as well as shapes their duties.

• The main goal of an entrepreneur is to introduce new marketing opportunities through creative ideas and innovative products and services.

• They conduct market research to understand various aspects affecting their business and design tactics and strategies to effectively manage their business. A business is always conducted by calculating risks to mitigate potential crises.

• Intrapreneur's goal is to work for the company and gain appraisals, appreciation and promotions.The individual is highly involved in the company and takes responsibility for driving the business forward.

3. Ownership and risk-taking ability

Their risk-taking ability also leads to the difference between entrepreneur and intrapreneur. The Entrepreneur takes only calculated risks as the owner. But on the other hand, intrapreneurs do not bear any personal risks as they work within the organisation. Thus creating an intrapreneur and entrepreneur difference.

• An entrepreneur owns the business and is responsible for the profit and losses that come

• On the other hand, an Intrapreneur works within the company and does not possess ownership of the business

• An entrepreneur can take financial and personal risks, while an intrapreneur faces limited risks as they are working with the company's resources

4. Freedom and Control

The degree of freedom they experience also varies, constituting the difference between entrepreneur and Intrapreneur. An entrepreneur owns the business and experiences the highest degree of freedom. But an intrapreneur works within the rules and regulations of the company.

• Every aspect of a business is supervised by the entrepreneur, who is also the owner. He exerts absolute freedom and control over the company and ensures that it functions according to its objectives.

• An intrapreneur experiences a limited sense of freedom and works under a defined environment in the company.

5. Funding

Additionally, concerns of funding also influence the difference between entrepreneur and entrepreneur.

• As the owner, the entrepreneur has the authority to raise capital from company funds, investors and more.

• On the contrary, an intrapreneur utilises the company resources to implement business strategies.

Conclusion

While the terms, businessman, and entrepreneur are similar to each other in their approach to business, their goals and mindsets set them apart. Understanding this entrepreneur and entrepreneur difference can enable an individual to choose whether to engage in a traditional business model or introduce innovative ideas to the market.

You may also check: Difference Between an Entrepreneur and Businessman