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Entrepreneur refers to that person who adopts oppertunities, take calculated risk and develop his/her business being an employerof the business. The Intraprenuer may perform same tasks being an employee of the organization.
True entrepreneur will never be an employee. Characteristics of entrepreneurship extends the capabilities of a Super Employee. Sooner or later this employee will leave the organization to build his own dream unless he feels it is his small baby. The best reward is to merge her/him in the company by providing partnership.
Well,reward is very relative...it means diferent things to different people.While some people(majority) take monetary compensation(salary/pay hike/bonuses/Shares etc) as most important,others regard respect,recognition,titles,education grants,leave days,holidays etc as important.That said and done,the company's culture must be first defined as it then would attract talent that believes in the rewards mechanisms of the company.If this is already in place,then the individual already has an idea of what to expect.For example,I once worked in a bank which rewarded Treasury staff with generous bonuses and pay rise while the retail sales staff competed to win either houses or cars.The operations departments were rewarded by paid air tickets and hotel accomodation to holiday destination of their choice while managers gave certificate of recognition to those who showed exceptional service.Others were flown to the UK to meet the Chairman of the Bank where they received trophies while to some just saying thank you would do :-)
The point is,understand the company's values and culture then learn the individual's background,culture and level of satisfaction(maslow's order of needs) and from that you will have a relatively goo idea of what to reward him/her with.