Difference Between Management Skills and Entrepreneurship Essay

What do you think is the difference between precaution skills and entrepreneurship?. How do they contribute to the economic success of a business? attention skills is about making an existing business work effectively and efficiently, organizing and organize the activities according to certain policies and achieving clearly defined objectives (i. e. vision, mission). Usually, the foundation of the business has been dictated and conventional.It involves planning, controlling, leading and directing and the managers are usually focused on managing and ontogeny the business Entrepreneurship is someone who transforms innovation into a business process peculiarly for market which never exists, often associated with uncertainties. An entrepreneur will look for changes, oppose to it and seize it as an opportunity. The next step is to assemble a team, position resources, raise the needed capital and start the new business idea.An entrepreneur is flexible in adapting to the rapid changi ng to the market conditions and ideas which are grand factors in developing strategies for a companys growth. The economy has break down more competitive and more demanding, thus the pressure of having the best vigilance skills and entrepreneurship skills are becoming more important. Management skills will ensure that an established organization is managed effectively and efficiently towards achieving clearly defined objectives.