Final answer:
Thomas Edison valued the Phonograph for both its business and entertainment potentials, recognizing its wide-ranging applications quickly after its invention. His methodical work and the efficient production of inventions such as the Phonograph solidified his status as a leading innovator of his time.
Step-by-step explanation:
Thomas Edison's attitude towards the Phonograph was initially based on its practical applications, such as the potential business uses in recording and playback of sound. However, Edison soon realized the entertainment potential of the Phonograph. It was not long before Phonograph recordings were used in conjunction with still photographic images to create the predecessors of motion pictures. Edison's creativity and methodical approach led him to continuously refine and market his inventions efficiently using a factory-oriented assembly line process. The invention of the Phonograph stood amongst his string of innovative devices that have had a lasting impact.
Despite Edison's prolific career as an inventor, holding a record number of patents, his earlier invention such as an automatic vote counter did not find buyers. Nevertheless, this did not deter him. Edison's laboratory, Menlo Park, became world-famous, echoing his belief in the power of organized research and fostering the development of numerous inventions. His Phonograph was one among these innovations that reflected not only his business acumen but also his contribution to the entertainment industry.