I fully concur: 1st book to present innovation & entrepreneurship as a purposeful & systematic discipline!

books:

	• Innovation and Entrepreneurship Peter F. Drucker Collins, 1993 - 288 pages average customer review:based on 26 reviews view larger image
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highly recommended

Innovation and Entrepreneurship

Drucker always seemed to be years, if not decades, ahead of anyone in his field, and Innovation and Entrepreneurship was the first book to treat the subject in a systematic, non-sensational way. Drucker is clear that his book is not about the psychology or character of entrepreneurs. It is not the mysterious "invention", or `flash of genius' so often ascribed to the wealth creator that interests him, but actions and behaviour - how innovation and entrepreneurship can be boiled down to a system that can be applied by anyone. By 1914, the time World War I broke out, "invention" had become "research," a systematic, purposeful activity, which is planned and organized with high predictability both of the results aimed at and likely to be achieved. Something similar now has to be done with respect to innovation. Entrepreneurs will have to learn to practice systematic innovation.

Successful entrepreneurs do not wait until having a "bright idea"; they go to work. Altogether, they do not look for the "biggie," the innovation that will "revolutionize the industry," create a "billion-dollar business," or "make one rich overnight." Those entrepreneurs who start out with the idea that they'll make it big--and in a hurry--can be guaranteed failure. They are almost bound to do the wrong things. Drucker states that a management team should be already built before the business will grow mid-side; otherwise it would be too late. He gives the examples when the founders of Ford Motor and Honda Motor to not start the venture until they have found a reliable partner who will run administration, finance, distribution, marketing, sales, and personnel.

Drucker somewhat envisioned the I.T. bubble of 2001. Many new ventures, especially high-tech, fail because they ignore the basic principles that were known for centuries. He states that high-tech is not intrinsically risky. It is not riskier than any other business, if properly applied. Entrepreneurship is only risky, he observes, when so-called entrepreneurs `violate elementary and well-known rules.' It is not risky when it is systematic, managed, and purposeful.

Accroding to Drucker, Innovation does not have to be technical, does not indeed have to be a "thing" altogether. Wherever introduced, it changes the economy from supply-driven to demand-driven, regardless almost of the productive level of the economy. "Innovation," then, is an economic or social rather than a technical term. It can be defined as changing the yield of resources.

The book consists of three sections.

In the first section, Drucker describes seven sources of innovative opportunity: The Unexpected, Incongruities, Process Need, Industry and Market Structures, Demographics, Changes in Perception, and New Knowledge. He debunks the believe that innovation is "a bright idea" and maintains that dependable innovative ideas come from systematic exploration of the seven sources of innovative opportunity.

The second section covers entrepreneurship and especially the development of an entrepreneurial culture within an organization. Along with suggestions for things to do, there are a couple of suggestions of things that will probably fail such as buying an entrepreneurial company in order to help a non-entrepreneurial company change.

The third section covers four major entrepreneurial strategies ("fustest with the mostest", "hit them where they ain't", ecological niches, and changing values and characteristics) with a discussion of some derivatives of each strategy and a look at the advantages and pitfalls of each.

I highly recommend the book "The Effective Executive" by Peter Drucker, in addition to this book.

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An oppurtunity for you to read!

The title of this book says it all and I am very happy the book is here to read. Being a business owner with constant innovation within the company, I found this book really helpful. Don't think entrepreneurs are innovative by nature, this is something you choose to do yourself.

Drucker has put together a story that catches your imagination and encourages you to go and seek opportunities. As famous Hollywood director David Lynch ones put: "Creativity is out there and like an aquarium full of fish... you just have to catch one". And that's what this book is about.

Apart from being a great read, the book encourages action and makes you pursue opportunities. It has helped me in building and growing my company. I think that stands for a good testimonial.

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I fully concur: 1st book to present innovation & entrepreneurship as a purposeful & systematic discipline!

I am very gratified to note that this wonderful book is still around & is being re-released as a new print. I read it when it was first published in the mid-80s. I remember that I had reread it during the early 90's when I had just started my own consultancy business.

I fully concur that this book is the first book to present innovation & entrepreneurship as a purposeful & systematic discipline. The book concists of three major parts:

- Part I: The Practice of Innovation;
- Part II: The Practice of Entrepreneurship;
- Part III: Entrepreneurial Strategies;

According to the author, entrepreneurial strategies are as important as purposeful innovation & entrepreneurial management. Together, they make up innovation & entrepreneurship.

What I like most about the book is the author's clear definition & concise elaboration of innovation as a disciplined business practice. He makes a very clear distinction: "Business, because of its purpose, has just two functions, & only two: MARKETING & INNOVATION. Marketing & Innovation make money. Everything else is a cost."

Best of all, he also provides some general guidelines for identifying innovative opportunities.

As a matter of fact, in Part I of the book, he describes the seven sources for innovative opportunities. Each of these seven sources are systematically covered in a specific chapter. For all entrepreneur-wannabes out there, understanding these 'innovative secrets of success' alone is worth the price of the entire book.

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The understanding of why any business or organization will prevail.

Absolutely Druckers best! This is one of three Books that are fundamentally important for existing in business. This is the understanding necessary for helping leaders,management and future leaders make decisions. This should be a text book for anyone starting a business,all business schools,all business decision makers,or anyone that wants(or has)to make decisions in any enterprise. You will BE better for reading this book. Take your time, because it is all here.

reviews: page 1, 2, 3, 4, 5, 6

The first book to present innovation and entrepreneurship as purposeful and systematic discipline which explains and analyzes the challenges and opportunities of America's new entrepreneurial economy. A superbly practical book that explains what established businesses, public survey institutions, and new yentures have to know, have to learn, and have to do in today's economy and marketplace.

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