5.4 Stakeholders in innovation

Core Text: Stakeholders in innovation

Invention and innovation involve different roles and stakeholders. Designers work together to create new knowledge and share information, which helps organizations become diverse and reliable. Inventors often take on the roles of product champion and entrepreneur, learning how to turn their ideas into successful products and sell them. Working in teams with people from different fields has both advantages and disadvantages.

A lone inventor is someone who works alone and faces challenges such as resistance to new ideas and lack of support and funding. On the other hand, a product champion is someone who works within a company and becomes an advocate for a new idea or invention. They understand how a product meets customer needs and convince others of its importance.

An entrepreneur is someone who brings an invention to the market by financing its development, production, and selling. While some individuals can fulfill all these roles, most products today require a team of people with different skills. James Dyson is an example of someone who excels as an inventor, product champion, and entrepreneur.

Working in a team has its advantages and disadvantages. It allows for the sharing of ideas and expertise, leading to problem-solving and new innovations. However, some individuals prefer working alone because it gives them more control over their work. Both approaches have their positives and negatives to consider.

Overall, invention and innovation involve collaboration, diverse roles, and the ability to adapt to different circumstances. Whether working alone or in a team, the goal is to create something new and make it successful in the market.