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Respond 1:
” It
is often said that business development is a major driving force behind the
success of a community or a region or even a state. The owners of a small
business venture are viewed as the single most important factor in the
organization’s success. These owners have both the opportunity as well as the
responsibility to lead their respective teams. Many times, however, the debate
has arisen as to what the business owner’s original role is: an inventor or an
entrepreneur. On a continuing basis, more and more ideas are being converted
into successful opportunities that create a certain amount of value for the buying
public. Consumers will say on one hand that they need individuals/business
owners to think of and create new ideas and inventions but then indicate that
these new ideas and inventions will need to be converted into a strong and
successful business opportunity. An inventor and an entrepreneur each are able
to independently generate new ideas for products and/or services; however, the
main difference is that inventors are wholeheartedly focused on the actual
invention where the entrepreneur is more concerned with the business
opportunity and how it can positively impact their community or a surrounding
society.
An entrepreneur is similar to an inventor in the respect that they must always
keep their business relevant in whatever industry they are a part of. To do this,
the entrepreneur must conceptualize new products and/or services to offer to the
buying public on a continual basis. This may also involve removing poor
performing products and/or services from their current offering lineup and
replacing them with these newer introductions in an effort to maintain or improve
the buying experience for their own clientele.
An inventor, on the other hand, loves being creative and a problem solver. They
are more of a freethinker and enjoy creating something that solves an issue that
is problematic to the general public. They might not be so focused on the
financial success their idea might have but more of the practical application of the
idea and knowing the fact that something is being done for the greater good.
In my opinion, inventors are able to conceptualize tangible inventions while
entrepreneurs have the ability to be more technologically innovative.
Advancements in technology are normally derived from entrepreneurs rather
than inventors (i.e., Larry Ellison and Oracle, Steve Jobs and Apple, Mark
Zuckerberg and Facebook). These innovations are, most times, limitless in their
boundaries while physical inventions may prove to be a bit more difficult in
flexibility.”
Respond 2:
“An entrepreneur is an inventor because they are trying to create something that has
not been done yet. They look for concepts that are unique and that will bring people
together to be entertained. Both inventors and entrepreneurs want to build things
and without inventors an entrepreneur can not attract people to invest. An
entrepreneur is more than an investor because they are able to work in groups and as
a team. To become more like an entrepreneur an inventor must commercialize their
ideas. They need to be able to take their ideas and make them into a product that
works and that would be sold to people everywhere. Entrepreneurs are able to think
beyond an idea. They are able to create it, produce it, and market it which makes
them money. ”
Respond 3:
“I watched an older episode of Shark Tank a couple nights ago. A man was looking
for investors for his product that he had invented. The product design was a great
craftsmanship and received praise from all of the “sharks”. However, one shark made
a statement that surprised me. They told the man that he was a great inventor yet he
was a bad entrepreneur. This statement seem to set the tone for all of the turndowns
he received.
The difference between an inventor and an entrepreneur is that an inventor comes
up with the new ideas and creates a new product. The entrepreneur is the one who
takes the product and makes it successful. An entrepreneur is more than an inventor
because his work doesn’t stop with just creating a product. Entrepreneurs also invent
ideas for different businesses and ways to make it successful.
An inventor focuses solely on the project at hand. Very few are able to take the actual
product and make it successful. Most inventors fail to look beyond what has been
created. All inventors are not entrepreneurs, but all entrepreneurs are inventors.
Kapeleris, J. (2011, June 21). The Difference between an Inventor and an
Entrepreneur – The Entrepreneurial Mind. Retrieved January 14, 2016,
fromhttp://johnkapeleris.com/blog/?p=1165”
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