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It is one of the very good question for thought, according to my experience there are mainly two types of Entrepreneurs, namely, Active entrepreneurs who will monitor daily activities and Non-active Entrepreneurs who will monitor biweekly or monthly growth ratio and profits rates in line to avoid financial risks.
Here, active entrepreneurs always look for change which is constant in business where they can make more profit and future growths. This type of entrepreneurs will not completely comply Management Principles or practices they will mainly focus on implementation of innovative management policies ( Change concept) and development of Entrepreneur processes and policies. They also mainly focus how to avoid more financial risks on present and future business process.
Whereas, Non-active Entrepreneurs would like to comply Management principles and practices and it could be easy to convince them by an expert and they will be silent in business and but looking for profits and financial cash flows.
Last but not least, in some situations non-active Entrepreneurs would be more active Entrepreneurs, when they will face more financial loses and more liabilities in businesses. It would be very crucial stage in any business process.
Startup's generally don't follow the typical corporate management structure in terms of:
Their focus is generally on a leaner structure, and multi-taskers' generally bask in such an environment.
As the startup gains momentum and becomes closer to becoming a SME, it can learn & apply the basic management principles and processes.
In order to answer your question let us talk about Entrepreneurial Management as it covers the topic.
Entrepreneurial management is:
“A set of principles and frameworks that help startups identify a sustainable business model with the least amount of waste possible.”
why is it important?
The rules for building a startup are constantly evolving and at a rapid rate, but there are many solutions and insights that will allow you to steer clear from known pathways to failure. It’s important to know that there is no one way to start a new company. “You do not need to just solve a pain or problem to be an entrepreneur,”. Startups can be formed around a technological breakthrough, a novel idea or, more simply, a passion for a particular market. It’s all about how to find what you’re passionate about and build a company around it.
Here are some key elements that are worth considering.
· Startups that have helpful mentors, that track their performance metrics effectively and that learn from thought leaders raise seven times more money and have 3.5 times better user growth than those that do not.
· Solo founders take 3.6 times longer to reach scale stage.
· Balanced teams with one technical founder and one business founder raise 30% more money, have 2.9 times more user growth and are 19% more likely to scale prematurely than technical or business-heavy founding teams.
· Most successful founders are driven by impact rather than by experience or money.
Remember “scaling successfully is what separates eventual industry leaders from long-forgotten startups in the deadpool.”
Thank You Mr Pravin for your invitation ... I will agree with the answers that really covered your question .. Nothing to add !
Therefore it is obvious that they are different from each other but they are dependent on each other i.e. unity of direction is a pre-requisite for unity of command. But it does not automatically comes from the unity of direction.
In the figure given, if D has to communicate with G he will first send the communication upwards with the help of C, B to A and then downwards with the help of E and F to G which will take quite some time and by that time, it may not be worth therefore a gang plank has been developed between the two.