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Innovation and Entrepreneurship (Classic Drucker Collection) Paperback – May 24, 2007
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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.
The book is divided into three sections: The practice of innovation (where to look to find indicators of opportunity for innovative change); The practice of entrepreneurship (managing so to foster innovation); and Entrepreneurial strategies (competitive strategies).
Drucker provides a detailed analysis of the sources of innovation and strategies for the implementation of innovation-based changes. He shows, with many real-world examples, how systematic innovation can be applied to business, government, politics, non-profit and service organizations.
The analysis is thorough, well structured and easy to understand. He finishes with an interesting discussion of why innovation is so necessary today, and gives some good examples of areas of society operating on dated assumptions and suggests some insightful innovations.
Even though the book was written some years ago, his methodology remains applicable. In terms of contribution to strategy development I rank Innovation and Entrepreneurship up there with Michael Porter's Competitive Strategy.
My only criticism of Drucker is his sometimes awkward writing style and his tendency to wordiness. However, I give the book full marks for being a well-researched and logically presented work.
Using a plethora of available case studies, Drucker shows how many companies large and small, known and unknown, have successfully implemented entrepreneurial practices. Drucker tells the reader how to go about implementing an entrepreneurial culture, and more importantly, what not to do when trying to develop such an outlook and culture in the organization.
Drucker identifies seven sources of innovation, and explains very clearly how to go about sowing the seeds of and nurturing an innovation. He then lays down the principles of entrepreneurship, and gives the reader some entrepreneurial strategies. Throughout the text, he gives both the pluses and the minuses of his ideas.
This book, first published in 1985, was way ahead of the curve. It literally predicted the profound effects of the IT revolution, coined the concept of lifelong learning, and identified the pivotal role of sound managerial practices in entrepreneurship and the new venture. Those of us who are active participants in the 'New Economy' should sit up and take notice of this book.
These days, it is very fashionable to call oneself an 'entrepreneur', but only Drucker has a clear concept of what an entrepreneur really is. Any person who wants to practice serious entrepreneurship, whether they work for a big company or are involved in a new venture, must read this book.
Most Recent Customer Reviews
I started to study Peter Drucker’s books in the seventies of the last century.
I read this book in 1988. Read more
Thank you its a great book and i am loving it. Nice doing business with you.Published 3 months ago by ksb34
If you want something practical because you are trying to bootstrap a young or new business, steer clear of this book. Read morePublished 6 months ago by Kirk O.
Not as detailed as it could have been, but a good foundation for innovation and entrepreneurship.Published 7 months ago by Katie Sipos
Simply outstanding! This book needs to be known more. From a small business owners standpoint I very much wish I would of read this book years ago. Read morePublished 8 months ago by David Whitfield