Innovation and business



What’s the difference between an inventor and an entrepreneur?

Make a two-column table where you list and compare motives, characteristics, flaws, and competencies.

Try to write a definition of entrepreneurship.

Try to write a definition for innovation.

Read this first.

3 reaktioner till “Innovation and business”

  1. entrepreneurship: The skill to Design and run a business.
    To understand what the market wants, and being able to capitalize on that.
    ”Timmy is a really good entrepreneur, he started a small business and now he’s selling cars left and right.”

    Innovation: The skill to see possibilities where other see none.
    Often Original and unique instead of a improvement of something else.
    ”Timmy is really innovative he manage to create a alternative to rocket fuel from broccoli.”


  2. What the diffrent between an inventor and entrepreneur?

    We live in a time where more and more ideas are converted into successful outcomes that create value for society. We need people who come up with ideas and new inventions (inventors), but also the people who are able to convert these ideas into successful products, services and businesses (entrepreneurs).

    Generally both inventors and entrepreneurs are able to come up with new ideas, and share some common characteristics, however, the key difference is that inventors are usually focused on the tangible invention, while entrepreneurs are more focused on the business opportunity.

    Make a two-column table where you list and compare motives, characteristics, flaws, and competencies.
    Entrepreneurship: Innovation:
    Motives: High risk, High reward. Being special.

    Characteristics: Hard working. Being creative.

    Flaws: High risk of going bankrupt. Dosen’t have the creavtivity.

    Competencies: leadership,confident,risk-taking Creativity,Forecasting,Enterprising

    Try to write a definition of entrepreneurship.

    The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit.

    Try to write a definition of innovation.

    An act or instance of creating or producing by exercise of the imagination, especially in art, music, etc.


  3. Entrepreneur.
    An entrepreneur is a person who finds a opportunity in the market and invents stuff to sell and makes his business bigger and richer. It takes an entrepreneur to convert the idea of an inventor into something of value thus generating profits for the entrepreneur. Typical example of this is Thomas Alva Edison who took patent on ideas from inventors thus claiming to be the greatest inventor there ever been.

    An inventor invents stuff to improve our society. Coming up with an idea is what interests you, you probably are more of an inventor. A example of a great inventor is Nikola Tesla who invented high voltage and made it the standard electrics type.
    inventor are often a bit crazy and usually don’t have any spear time because they are obsessed with inventing stuff



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