Entrepreneurial Innovation

Anyone getting tired of my Peter Drucker inspirations, yet? Well, I’m thoroughly enjoying them. I have finished the Practice of Management, well within my timed goal, I might add. Now, I’ve moved on to his book dedicated to Innovation and Entrepreneurship. Makes sense as an entrepreneur, right? I will have you know that this is not assigned reading. No, no, no. I asked for these books for Christmas, and I love them; but back to the wisdom of the management master.

If you recall, Drucker calls on all managers to be innovative, those in non-tech fields even more so that high-tech fields. In this book, he suggests 7 key sources of innovation. We’ll spend the next few days talking about these areas. Here’s just a little teaser:

The Unexpected Unexpected failures, successes, and outside occurrences that can serve as reasons for innovation

Incongruities Realities and assumptions about an industry, actions of an industries and the expectations/values of its consumers, and inconsistencies in process

Process Inefficiencies, a missing link, and comments that there “must be a better way”

Industry and Market Structure History and opportunities

Demographics Changes across time in demographics, lifestyles, and beliefs

Changes in Perceptions Timing and consumer values

New Knowledge New findings, experiences, occurrences

I hope you’re looking forward to the upcoming posts and learning all about the process of innovation!


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