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Innovation and Entrepreneurship (Routledge Classics) Paperback – 9 Sep 2014
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'Drucker now adds Innovation and Entrepreneurship to the remarkable series of books about management that he has been writing since 1939. Any book by Drucker is rewarding, and it is impossible to read the man without learning a lot'.
About the Author
Peter F. Drucker (1909-2005) was one of the most famous management theorists, educators and writers of the twentieth century. His many influential books have shaped the form of the modern business corporation and continue to be studied by students of management and business professionals throughout the world.
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Top customer reviews
Entrepreneurship rests on the theory that change is normal. Innovation should be less risky then optimization, but it's not so in reality, because most entrepreneurs don't know what they are doing.
Systematic innovation is the methodical search for change and for opportunities.
There are 7 sources of innovation:
1- The unexpected
2- The incongruity
3- The innovation based on process
4- Changes in industry or market structure
6- Changes in moods
7- New knowledge.
The principles of innovation are:
1- Begin with an analysis of all the opportunities
2- Go out to look, ask, listen
3- An innovation must be simple and focused on a specific need
4- Effective innovations start small
5- It aims at leadership.
After a second part dedicated to the management of enterprise, the 3rd part is dedicated to entrepreneurial strategies. They are 4:
1- Fustest with the mostest (become leader of the market)
2- Hit them where they ain't
3- Entrepreneurial judo
4- Ecological niches.
According to Drucker, who is willing to use marketing as the base for strategy, and focus on customer needs, is likely to acquire leadership in every market.
This book lays out some simple (some would say obvious) guidelines for identifying and exploiting opportunities and ideas that come your way. Some of the examples are quite dated now, and Drucker is not infallible. For instance there is a cringe-worthy paragraph explaining that computer games are a passing fad (in 1984). Not even Drucker could see that gaming would become the massive industry that it is now!
However, it's still a valuable book.
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It is written as a study on innovation.Read more