Entrepreneurs Beyond Innovation: An Executive Summary and Discussion

This essay delves into the core differences between entrepreneurs and innovators, arguing that entrepreneurs are not merely innovators but are driven by commercial interests and risk-taking. The essay uses examples like Yahoo and Google, and Flipkart and Amazon, to illustrate how entrepreneurs often adapt and improve existing ideas rather than creating entirely new ones. It highlights that while innovation introduces change, entrepreneurs focus on creating business opportunities and generating profits, taking on high risks to make their ideas a reality. The conclusion emphasizes that entrepreneurs are more than innovators, transforming ideas into successful ventures through strategic adaptation and market understanding, and they are essential for economic growth.

Entrepreneurship

Executive Summary
Entrepreneurs are far away from just being innovators they are more commercially
driven. Entrepreneur is process of creating and the opportunities by taking all the risk
regardless of the resources available. This is an essay that discussed the fact behind this topic
that is entrepreneurs are not innovators, they are far beyond this.

Table of Contents
Introduction................................................................................................................................2
Discussion..................................................................................................................................2
Conclusion..................................................................................................................................4
References..................................................................................................................................5

Introduction
Entrepreneurs are not innovators are not the synonymous terms; both these terms are
quite different. Innovators are those who simply work on introducing change in an
organisation. They innovate new things with the motive of driving commercial benefit by
adding values to the world. Innovators just think upon bringing up a need an idea in the
market whereas entrepreneurs think in way so that they can create a new business
environment.
Discussion
It is truly said, that entrepreneurs are not innovators as considering the case of yahoo
and Google. Yahoo search engine came in the market in 1995 and Google came in 1998, they
just copied the idea and terminology of yahoo and then modified the strategies and attained
the growth. Thus, it can be clearly said they are not the innovators always they just work on
the strategy to make better profits. . They basically look for the corporate venture creating
better opportunities for people (Chavez, Stinnett, Tierney and Walsh, 2017). They modify
the existing technology by adding more benefits so that they can capture larger audience.
Some of the entrepreneurs have started their business by their own innovation but it is not
necessary that entrepreneurs are the innovators always (Investopedia, 2018). There motive is
work on an idea while following all the directions and purpose.
It can be stated that innovators create change but it is not linked with the
entrepreneurship thing. Innovators just bring a new idea that could change the society but it is
not related with the motive to start or grow a business. Sometimes, entrepreneurs and
innovation overlap but it possess entire different framework (Partzsch, 2016). The case of
flip kart can also be considered as it came after Amazon and it copied the entire strategy on

which amazon is working. Flipkart didn’t innovate their ideas they just modified and worked
on amazon’s innovation. Thus, it can be said that entrepreneurs are not innovators. There are
only few entrepreneurs who followed their innovation rest worked upon cluster of imitators
that already exist in the market. Innovation transfers longevity by launching new products in
the market (Puccio, Cabra and Schwagler, 2017). Entrepreneurs not only see innovation as
there solution they extremely work on creating creativity in all the existing strategies.
Entrepreneurs are not all about generating new ideas but are expanding the business
consistently in a way that they engage more than customers in their business.
Entrepreneurs are successful by not just innovators; they are the one who take high
risk and work for betterment of the society. Entrepreneurs differ in term of degree as they
work for introducing economy to the world. Entrepreneurs are not innovators they are far
beyond that. Innovation of new things always work in the market but entrepreneurs are the
one who use the new innovation to make profit by starting a company so that they can make
place in the business world. Innovators do not have the challenge to take risk but for
entrepreneurs to be successful they need to be high risk takers (Slideshare, 2018). Innovators
do not need to be creative or energetic they don’t deal with approach to offer benefits.
Entrepreneurs are the one who change the idea into reality by bringing it in current scenario.
Entrepreneurs bring out an elite status in the market by bringing innovation in the global
scale. Like in the case of Flipkart, they used amazon strategies and innovation and succeed in
many different geographical market. They worked on understanding the market demand and
then modifying the innovated technology.
Entrepreneurs are not necessary the innovators as they are generally work on the ideas
that are developed by others (Joppe, Brooker and Thomas, 2015). Entrepreneurs use the tool
of innovation so that they can exploit change in the business world. Entrepreneurial venture
do not restrict them to just one innovation they are more driven towards success as it is the

combination of innovation. They generally give birth to new organisation by using the skills
of existing venture. They transform the organisation through using the ideas in the market or
by working on the strategies that are already present (Brillo, Kawamura, Dolan and
Fernández-i-Marín, 2015). They encourage innovation and creativity by maintaining some
degree of control. An entrepreneurial monitors all the opportunities that could help them to
grow their business and make better market place. They have the sense of urgency and have
detailed knowledge regarding the market and the abilities. Entrepreneurs basically identify
the products and values they offer to the customers so that they can accomplish could brand
value in the market. It is the development process that is not just about innovation.
Entrepreneurship is behaviour rather than a personality trait. Entrepreneurs are people who
take on the risk. They play a key role in increasing the economy of the country by working on
the new ideas in the market. They also face many obstacles while building their place in the
market (Thon and Karlsson, 2017). They look for the new venture that is going in the market;
they modify it by bringing in other medium.

Conclusion
Thus it can be concluded from the above research that it is rightly said that
entrepreneurs are not innovators. Many examples are also discussed, one such is flip kart and
amazon as Flip kart is one of the successful entrepreneurship business in the market. Though,
they have not innovative their key idea but have used the existing working model of amazon
to grow in the market and make their place. It can be stated that entrepreneurs are far beyond
just innovating. They convert their new idea or invention into an innovation.
Entrepreneurship is all about taking risk and deals and works on the form of incremental
innovation strategy. They refine or improve the existing design that is already in the market.

References
Brillo, J., Kawamura, K.M., Dolan, S.L. and Fernández-i-Marín, X. (2015). Managing by
Sustainable Innovational Values (MSIV): An Asymmetrical Culture Reeingineering Model of
Values Embedding User Innovators and User Entrepreneurs. J. Mgmt. & Sustainability, 5,
p.61.
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.
Investopedia, (2018). Entrepreneur. Available from
https://www.investopedia.com/terms/e/entrepreneur.asp Accessed on 29 july 2018.
Joppe, M., Brooker, E. and Thomas, K. (2015). Drivers of innovation in rural tourism: The
role of good governance and engaged entrepreneurs. Journal of Rural and Community
Development, 9(4).
Partzsch, L. (2016). Innovators for the Public—How Norm and Social Entrepreneurs Fulfill
the Promises of Democracy. Entrepreneurship in the Polis: Understanding Political
Entrepreneurship, p.171.
Puccio, G.J., Cabra, J.F. and Schwagler, N. (2017). Organizational Creativity: A Practical
Guide for Innovators & Entrepreneurs. SAGE Publications.
Slideshare, (2018). entrepreneurship, innovation, creativity. Available from
https://www.slideshare.net/monikaskarzauskaite/lecturers-presentation-entrepreneurship-
innovation-creativity?next_slideshow=1 Accessed on 29 july 2018.

Thon, J.N. and Karlsson, S. (2017). How Scientists Can Become Entrepreneurs. Trends in
biochemical sciences, 42(5), pp.327-329.