An owner-manager of a firm can also be called an "entrepreneur". An entrepreneur is someone who starts and runs their own business, taking on financial risk in the hopes of making a profit.
As an owner-manager, the entrepreneur has a personal stake in the success of the firm. They have invested their own money, time, and effort into building and growing the business. This is different from someone who is just a shareholder or investor in the company, as they are not involved in the day-to-day operations of the business.
The owner-manager is responsible for making key decisions about the direction of the company, such as which products or services to offer, how to market them, and how to manage finances. They are also responsible for managing employees, setting goals and objectives for the company, and ensuring that the business is profitable.
Overall, the term "entrepreneur" is a fitting label for an owner-manager because it captures the idea of someone who takes on risk in order to create and grow a business, while also highlighting the importance of innovation, creativity, and hard work in the world of business.