Entrepreneurs vs Innovators: Strategies and Market Impact Analysis

This essay explores the distinction between entrepreneurs and innovators, clarifying that while both contribute to business growth, they operate with different motives and approaches. Innovators focus on introducing new creations to the market, while entrepreneurs excel at refining and adapting existing strategies for profit and expansion. The essay uses the example of Flipkart, which successfully modified Amazon's strategies for different geographical markets, to illustrate how entrepreneurs capitalize on existing innovations. It concludes that while innovation can be a part of entrepreneurship, it is not a mandatory component, as entrepreneurs primarily focus on identifying and exploiting market opportunities through strategic refinement and resource management. Desklib provides access to similar essays and study resources for students.

Entrepreneur
s are not
innovators

Introduction
Entrepreneur is on who create a new
business plan either by discovery
something new or redefining the
existing strategies in the purpose of
achieving profit and growth in the
market place (Eisenach, 2018).
They work on capitalizing the
resources by taking risks.

Entrepreneurs and innovators
are different
Both the terms are different from
each other. Innovators have the
motive to bring new things n the
market (Visser, 2018). On the other
hand, entrepreneurs work on
refining or modifying the existing
strategies.

Continuing
In many cases, entrepreneurs start
their business by their own innovation
but it is not necessary that
entrepreneurs are the innovators
always (Hmieleski and Sheppard,
2018). There objective is to bring up
new opportunity in the market so that
it can uplift the overall growth.

Continuing
Considering the case of Flip kart, they
didn’t innovated they own idea but
worked on the strategy that was
developed by Amazon (Puccio, Cabra and
Schwagler, 2017). They worked on
understanding the market demand and
then modifying the innovated technology
that is used by innovation (Chavez,
Stinnett, Tierney and Walsh, 2017). Flip
kart used amazon strategies and then
succeed in many different geographical
market.

Refrences
 Visser, A. (2018). Who are the entrepreneurs
in your business?. finweek, 2018(29 March),
pp.44-45.
 Hmieleski, K.M. and Sheppard, L.D. (2018).
The Yin and Yang of entrepreneurship: Gender
differences in the importance of communal
and agentic characteristics for entrepreneurs'
subjective well-being and
performance. Journal of Business Venturing.

Eisenach, J.C. (2018). The Role of Medical Societies and Their
Foundations in Supporting Entrepreneurs: A View From
Anesthesiology. In Medical Innovation (pp. 231-233).
Chavez, V.A., Stinnett, R., Tierney, R. and Walsh, S. (2017). The
importance of the technologically able social innovators and
entrepreneurs: A US National Laboratory
Perspective. Technological forecasting and social change, 121,
pp.205-215.
Puccio, G.J., Cabra, J.F. and Schwagler, N.
(2017). Organizational Creativity: A Practical Guide for
Innovators & Entrepreneurs. SAGE Publications.

Thank You