Difference between Entrepreneurial ability and Managerial ability:Are both important for entrepreneurs?

Entrepreneurial ability is the ability to recognize an opportunity and acquire the necessary resources to exploit it while the managerial ability is the ability to maintain the profitability of a business.

The successful entrepreneurs need both abilities as they determine the destiny of their businesses.They enable the entrepreneur to recognize a business opportunity,acquire necessary resources to exploit it and then formulate a business while ensuring that the business is making profit.

Reference

Firtzsimons J.R & Douglas E.J.,(2005).Entrepreneurial attitudes and entrepreneurial intentions cross cultural of potential entrepreneurs in India,Thailand,China and Australia. Babson-Kaufman Entrepreneurial Research conference,Wellesley MA