St.

Mary’s university
Department of Management
Entrepreneurship and Small Business Management
Individual Assignment

Name-BETHELHEM KIFLU

Section- U

Id- Rad/2895/2010

Summited to-DEMELASH SHALOW

April 2020
Answer

1) Ali is non enterprenur,b/c he is an inventer he create new products but entrepreneurs build
companies around these products.Ali is more focused on the end product but not on business idea with
the out come of his invention.inventors are usually focused on the tangible invention, while
entrepreneurs are more focused on the business opportunity.Inventors are interested in developing a
novel product but not necessarily bringing it to market (i.e. commercialising it). Entrepreneurs procure,
organise and manage resources (human, capital and other) through a new venture to bring a product to
market, without necessarily having invented the product.

Another way of looking at this is that entrepreneurship involves the conversion of ideas into money,
because an entrepreneur makes money from his/her ideas by capitalising them. On the other hand,
invention is the conversion of money into ideas, because an inventor spends money to create his/her
inventions and may be unable to monetise them.

2)The business characteristic that is used by Ato Ali is creative and dynamic

3)It might be that keeping your invention secret may keep competitors at bay more effectively. Applying
for a patent can be a very time-consuming and lengthy process (typically three to four years) - markets
may change or technology may overtake your invention by the time you get a patent.

4)
- Be discreet. Do not talk about your invention with people who are not bound by a confidentiality
agreement .

-Don't do too much work on your invention until you get a good idea of whether it will sell well.

-Assess whether you will be able to get a patent on your invention.