Innovation and Entrepreneurship: Practice and Principles

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Innovation and Entrepreneurship Practice and Principles is a Kindle Far from my previous post about Perkins Peter Drucker s book Innovation and Entrepreneurship was a paradoxical reading The firs

Innovation and Entrepreneurship: Practice and Principles is a Kindle Far from my previous post about Perkins, Peter Drucker’s book Innovation and Entrepreneurship was a paradoxical reading. The first chapters were painful even if brilliant. I understood there that innovation is a process which will be successful if carefully planned and managed. Fortunately, chapter 9 completely changed my perception when the author dealt with knowledge-based innovation, which includes innovations based on science and technology. So let me summarize the main points of this chapter:1- the characteristics of knowledge-based innovation:a. the time span between the emergence of the technology and its application is long, 20 to 30 years,b. it is a convergence of several knowledge and until all the needed ones are available, this innovation can not succeed,2- the requirements:a. a careful analysis of the required factors, i.e. the available knowledge and the missing ones,b. a clear focus on the strategic position, i.e. you have to be right the first time or others will take your place,c. learn and practice entrepreneurial management, because most tech. innovators lack management skills ,3- the risks:a. first, even after a careful analysis, knowledge-based innovation remain unpredictable and turbulent (see also Moore’s books about the chasm and the tornado), and this is linked to its characteristics above; this has two important implication:i. time plays against innovators,ii. survival rate is low,b. there is a limited window where new ventures start, and when it closes, there is a general shakeout, where few survive; who survives is also unpredictable. The only chance of surviving is to have a strong management and resources,… and luck;c. there is also a receptivity gamble. Even market research does not work with these innovations and the reason why an innovation is accepted or not is also unpredictable.I have to admit this confirms an intuition I had since my VC years: you have to make a bet and then work hard. But there is no way, you can really plan the success of knowledge-based innovations.The end of the book is quite good, in particular its conclusion: “The first priority in talking about public policies is to define what will not work: Planning is actually incompatible with an entrepreneurial society and economy. Innovation has to be decentralized, ad hoc, autonomous, specific. It had better start small, tentative, flexible. […] It is popular today [1983!], especially in Europe, to believe that a country can have “high-tech entrepreneurship” by itself. But it is a delusion. In fact a policy which promotes high-tech and high-tech alone will not even produce high tech. All it can come with is another expensive flop, another Concorde. […] The French are right, economic and political strength requires high tech but there must be an economy full of innovators with vision and entrepreneurial values, with access to venture capital, and full of economic vigour.”. The first book to present innovation and entrepreneurship as a purposeful and systematic discipline, this classic business title explains and analyzes the challenges and opportunities of America s entrepreneurial economy.. Popular Ebook Innovation and Entrepreneurship: Practice and Principles As always, Peter Drucker is one of my favourites on the subject. A book from the 80s that still a great read today, on a very changing and challenging subject such as entrepreneurship, is a sole indicator of how great the book is.
Innovation and Entrepreneurship The book starts by letting you know the the deep relationship between innovation and entrepreneurship, it even starts by using examples which make the entire book much easier to understand Innovation Entrepreneurship World Bank Oct , Innovation and entrepreneurship are recognized as key building blocks of competitive and dynamic economies. Innovation and Entrepreneurship Bessant, John R Tidd Innovation and Entrepreneurship rd edition is an accessible text on innovation and entrepreneurship designed specifically for students studying business and management studies, but also those on engineering Innovation and Entrepreneurship OIE U.S Economic Established by the America COMPETES Reauthorization Act of and housed within the Economic Development Administration EDA , the Office of Innovation and Entrepreneurship OIE aims to empower communities so that entrepreneurs Innovation and Entrepreneurship IE MIT News Sep , Innovation and Entrepreneurship IE Download RSS feed Displaying of news articles related to this topic Show News Articles In the Media Helping robots What is Innovation in Entrepreneurship Vlerick Business Journal of Innovation and Entrepreneurship Home page Sep , The Journal of Innovation and Entrepreneurship is dedicated to exchanging the latest academic research and practical findings on all aspects of innovation and entrepreneurship

About Author

  • Peter F. Drucker Post author

    Peter Ferdinand Drucker was a writer, management consultant and university professor His writing focused on management related literature Peter Drucker made famous the term knowledge worker and is thought to have unknowingly ushered in the knowledge economy, which effectively challenges Karl Marx s world view of the political economy George Orwell credits Peter Drucker as one of the only writers to predict the German Soviet Pact of 1939.The son of a high level civil servant in the Habsburg empire, Drucker was born in the chocolate capital of Austria, in a small village named Kaasgraben now a suburb of Vienna, part of the 19th district, D bling Following the defeat of Austria Hungary in World War I, there were few opportunities for employment in Vienna so after finishing school he went to Germany, first working in banking and then in journalism While in Germany, he earned a doctorate in International Law The rise of Nazism forced him to leave Germany in 1933 After spending four years in London, in 1937 he moved permanently to the United States, where he became a university professor as well as a freelance writer and business guru In 1943 he became a naturalized citizen of the United States He taught at New York University as a Professor of Management from 1950 to 1971 From 1971 to his death he was the Clarke Professor of Social Science and Management at Claremont Graduate University.

One thought on “Innovation and Entrepreneurship: Practice and Principles

  • Far from my previous post about Perkins, Peter Drucker s book Innovation and Entrepreneurship was a paradoxical reading The first chapters were painful even if brilliant I understood there that innovation is a process which will be successful if carefully planned and managed Fortunately, chapter 9 completely changed my perception when the author dealt with knowledge based innovation, which includes innovations based on science and technology So let me summarize the main points of this chapter 1 [...]


  • As always, Peter Drucker is one of my favourites on the subject A book from the 80s that still a great read today, on a very changing and challenging subject such as entrepreneurship, is a sole indicator of how great the book is.


  • Even though this book is relatively old, its principles apply in every era Drucker presents innovation as an ageless art form, in which all that changes is the approach Any business owner, or out of the box thinker, should definitely read this book.


  • Most people probably think that innovation and entrepreneurship is something that happens by chance or by magic Reading this book by Peter Drucker should dispel this notion totally Not only is innovation and entrepreneurship something that can be measured but it is something that can be learned.The book initially provides definitions of what innovation and entrepreneurship is, what the different types and aspects of each are and where they are most likely to occur Drucker then continues on with [...]


  • Peter Drucker is awesome.He turns innovation into a discipline I need to read of this guy.Drucker lists the seven places where innovation takes place and then goes into detail for each one The interesting thing is that few of them are what people normally think of as innovation.Quotes Entrepreneurs are a minority among new businesses They create something new, something different they change or transmute values Entrepreneurship is thus a distinct feature whether of an individual or of an instit [...]


  • This is the first book by Drucker that I ve read, but definitely not the last.Drucker is erudite he reaches back hundreds of years and across continents to identify first introduction of one thing or another Although Drucker s seminal contributions have shaped how large corporations in the US and Japan are managed, this work looks at a full spectrum of companies from large to small, and describes the kinds of innovation that succeed.Drucker delights at debunking conventional wisdom or frequent m [...]


  • Long before the Innovator s Dilemma was written, here is Drucker with the same insights about why innovation must be treated as a special child by management, and the challenges faced by it in existing corporations This review was written after I read the book for the second time I had read it previously a few years back , and it is incredible how the contents seem meaningful and relevant on the second reading.


  • This is a very authoritative introduction to the subject of innovation It is very well written, although a bit heavy at points Drucker has made an important contribution, as usual The part on sources of innovation is very good and also exists as an HBR article.


  • Honestly a bit boring, but nevertheless it is smart, some stories and examples are really make you interested The material just need to be presented better.



  • Although an old by my own standards book still has many principles that continue to apply todayWith Innovation just changing the way we go about creating something new or better.I personally think we do not have to be an entrepreneur in order to become innovator but I agree that if you want to start innovation is a great way to do so We already know how many started and where they are now so, we do have much to choose from.Many business some of them with that 100 years of experience have disap [...]


  • This is one of those seminal landmark business books that need to be read and digested Although the book is somewhat outdated in its examples, the principles are still relevant to today s entrepreneurs and innovators Many of the companies cited in this 1986 book are either no longer with us and newer companies like Apple are barely mentioned But, that said, Drucker spells out the principles of innovation and entrepreneurship and how to go about practicing it Take notes.He also recommends other b [...]


  • Great Great book.Simple and based on principles.Peter Drucker is about principles And it is very much exciting to hear from Peter Drucker, What he thinks about innovation and entrepreneurship.It is very helpful for managers and budding entrepreneurs to understand some basic principles.Book is little heavy as it is written by the father figure in management But it serves the great purpose of educating one self with the basic knowledge of new ventures.Old, but good examples are cited by Drucker It [...]


  • I picked this up with the intent to read it and have it under my belt so I could say I ve read it just because it is a classic I expected a lot of out of date references and antiquated principles of innovation I did find A LOT of out of date references to companies that are no longer the innovation powerhouses that they once were which just highlights the transient nature of being an innovation factory , but the principles and practices seem as true as ever and I don t think it is too bold to sa [...]


  • While one may no longer agree with everything in the book, Drucker s classic has withstood the passage of 30 years since its initial publication incredibly well A highly recommended read whether one works in a large organization or startup setting, as an owner or manager Thought provoking and provides a good methodical framework for identifying and exploiting new markets.


  • Fascinating, rigorous book Very detailed and dense in a good way In spite of this book being slightly old, there are numerous very useful insights on entrepreneurship and innovation here I will definitely be going back to reference this book for many years into the future Also looking forward to reading of Drucker s work.


  • May be the first ever book to take the route of practicing entrepreneurship, making policies and putting innovation into the roots of the company it is needed in 21st Century



  • Another great book from the prophet of management A good read even with the benefit of hindsight, because you can contrast and compare old methods and theories with current practices.


  • This is an incredible book The data and examples may be dated, but this is a must read for anyone starting a business A framework for entrepreneurship.


  • It s the first management book I give a 5 stars to I have been refusing innovation and entrepreneurship books just because of the same reasons Drucker sanctions them in his book they are pretentious and of little practical use if you are to try replicating any of the ideas Drucker got me on his side from that moment all the read through.The major achievement of this book is to present innovation as a management practice rather than any imposed threat to the business It also solves the what innov [...]



  • Cu n s ch l m t ch ng minh h ng h n cho kh i ni m c b n Kh i nghi p l i m i, l mang l i m t gi i ph p h u ch cho th tr ng, c ng nh , thay i l t t y u, ai bi t n m b t s thay i s g t h i th nh c ng Kh i ni m n y c th ai c ng bi t ho c nghe t i r i, nh ng ph n t ch hay v s u nh cu n s ch n y th qu th c kh v hi m M t n a u cu n s ch c t c gi u i s d ng a ra nh ng ch d n r r ng v c ch th c v ngu n g c t m ki m c s cho s i m i cho qu tr nh kh i nghi p K t lu n l n u kh ng t nh n 10% nh ng ng i kh i n [...]


  • It s a bit odd to read a book about innovation that s thirty years old, but Peter Drucker s definitive work holds up reasonably well More than that, I think the main thrust of the book has not really been fully appreciated The idea that entrepreneurship is a business activity that can be organized and managed in the same way as any other activity accounting, say, or manufacturing is still rather unorthodox today Companies that systematically search for opportunities for change are few and far be [...]


  • I sure wish there was a recent version This book would have earned another star if of the examples had been drawn from the recent past There were enough timeless examples from the past couple hundred years to make it a worthwhile read, though.Some useful points Look for the surprise successes and exploit them Don t turn your nose up at unexpected uses for your product if it s selling It doesn t matter if your happy customers are not the ones you wanted intended Company founders need to stick t [...]



  • Reading Drucker is like reading the source that every other business author seems to go to He has basically distilled Innovation and Entrepreneurship to a management science The effective strategies to use and the different types of innovations that are possible Not all of them have to be high tech and not all of them have to be based on new knowledge They can be boring like coming up a mechanism for a farmer to pay for a tractor in installments also known as an installment plan In the book Druc [...]


  • Though about innovation and entrepreneurship in business, the topics in this book can be applied to non profit, gov t, schools, etc even one s personal life The days of one employer for life and being guided in your career are over Information and methods change so rapidly these days Today, the best careers are FULLY self directed Amazing, Drucker pointed this out 30 years ago I appreciate Drucker s viewpoint of innovation and entrepreneurship as disciplines and systems vs rare gifts and persona [...]


  • Peter Drucker is seen by many as the father of management and after reading this book I obtained a better understanding of why that is the case.The book itself is an interesting read, especially with the interesting real life examples that occur throughout the book The book changed some of my assumptions on entrepreneurship and the management of innovation within companies of all size innovation is a systematic activity similarly to corporate processes done on a systematic basis within the compa [...]


  • Wish I could give it a higher rating It s dense with brilliant, seminal ideas And that s the problem It s dense, it makes for a deliberate effort to read Or maybe I just need to read Drucker and raise the intellectual bar Definitely on the re read list, but not for a couple of years methinks.


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