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Innovation and Entrepreneurship Paperback – May 26, 1993

4.5 out of 5 stars 119 customer reviews

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Editorial Reviews

Review

"A remarkable book about the economic futre of the United States." -- --National Review

"A remarkable book about the economic future of the United States." -- National Review

"By far the most trenchant analysis of a phenomenon that, if the author is correct, may be the key to our economic growth and continued prosperity." -- New Times

"Drucker believes entrepreneurship is not only possible in all institutions, it is essential to their survival. Just how to manage entrepreneurship is what thisnew book is all about." -- Venture

"Far from being dated, Peter Drucker's Innovation and Entrepreneurship has survived the past decade in considerably better shape than many Fortune 500 companies that ignored its lessons...Thoughtful, concise and useful." -- Technology Review

"If you read only one book on management this year make it Innovation and Entrepreneurship by Peter F. Drucker." -- D & B Reports

"Our most enduring commentator on the practice of management and the economic institutions of society." -- Business Week

About the Author

White House Honors Drucker with Presidential Medal of Freedom

On June 21, Dr. Peter Drucker, author of The Effective Executive and Management Challenges for the 21st Century, received the Presidential Medal of Freedom from President George W. Bush.
"Dr. Peter Drucker is the world's foremost pioneer of management theory. Dr. Drucker has championed concepts such as privatization, management by objective and decentralization. He has served as a consultant to numerous governments, public service institutions and major corporations. Dr. Drucker is a Professor of Social Sciences and Management at the Claremont Graduate University in Claremont, California, which named its Graduate School of Management after him. He helped establish and continues to serve as the Honorary Chairman of the Peter F. Drucker Foundation for Nonprofit Management in New York City, which awards the Peter F. Drucker Award for Nonprofit Innovation. He is currently applying his expertise to the management of churches and other faith-based institutions and to the reorganization of universities worldwide." - White House Web site
The Presidential Medal of Freedom is the Nation's highest civilian honor. It was established by President Truman in 1945 to recognize civilians for their service during World War II, and it was reinstated by President Kennedy in 1963 to honor distinguished service.

Also among the honorees were Hank Aaron, Bill Cosby, Placido Domingo, Katharine Graham, Nancy Reagan, and A.M. Rosenthal.


Peter F. Drucker is an author of more than thirty-five books, and his ideas have had an enormous impact on shaping the modern corporation. In 2002, he was awarded the Presidential Medal of Freedom. He is a writer, teacher, philosopher, reporter, consultant, and a professor at the Peter F. Drucker and Masatoshi Ito Graduate School of Management at Claremont Graduate University. He lives in California.

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Product Details

  • Paperback: 288 pages
  • Publisher: Collins; 1st edition (May 26, 1993)
  • Language: English
  • ISBN-10: 0887306187
  • ISBN-13: 978-0887306181
  • Product Dimensions: 5.3 x 0.6 x 8 inches
  • Shipping Weight: 8 ounces
  • Average Customer Review: 4.5 out of 5 stars  See all reviews (119 customer reviews)
  • Amazon Best Sellers Rank: #1,347,305 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

By Lee Say Keng on September 30, 2006
Format: Paperback
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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Format: Paperback
This is my pick for the best business book of the 20th century. I have read this book three times, have taken extensive notes on it, and still learn a great deal with each re-reading. Peter Drucker has written many excellent business books, but this one shines. Unlike other books with "entrepreneurship" and "innovation" in their titles, this book does not go through the mechanics of setting or running up a business, but instead focuses on the essence of good business planning and practice.
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Format: Paperback
Innovation and Entrepreneurship is a good resource for categorizing and identifying sources of innovation. Drucker does an excellent job of organizing the key elements involved in innovation and there is a fair amount of real world examples that help the reader understand the concepts. However, most books on this topic usually leave me asking for more concrete examples of the execution of the topics laid out here, and this book is no exception. Innovation and Entrepreneurship is more about creating a framework for innovation that can be used to compartmentalize current practices and shed light on their origins. Drucker accurately points out that the least likely sources of innovation are from new knowledge and bright ideas. The insight into this alone, makes the book well worth reading. If you are looking for a way to categorize and identify the most effective sources of innovation in an effort to budget the research efforts in you corporation, I highly recommend this book. If you are an entrepreneur looking for new sources, you might me better off looking elsewhere, such as Clayton Christensen's The Innovator's Dilemma.
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Format: Paperback
This is the book on how to make a business WORK! I am president of a small company and immediately took the ideas and practices out of this book and applied them to great success. This is not a quick read, and every item will not pertain to each individual person, but the observations presented explained a huge number of obstacles I was facing. If you are trying to manage any form of modern organization, buy this book and spend the time reading it. It made me a huge Drucker fan.
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Format: Paperback
I had originally rented this book from the library with an intention of zipping through it to obtain a general idea and feel for the concepts presented. I found myself constantly stopping to take notes and unable to finish the entire book during the loan period. After renewing twice and hardly making it a quarter of the way through I decided I would have to purchase the book.

As the General Manager of a small business with no formal training and little prior experience in managing a company this was the best investment I could have ever made. I'd recommend you take notes as you read in order to get the most of this book. Read it a second time a year after you finish it.
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Format: Hardcover
Domain specific know-how is obviously essential to effective management. In this book, Peter Drucker discusses non-domain-specific know-how for management. Even though the book is long at 861 pages, it is NOT wordy and he makes every sentence count.

Insightful, practical, straight-forward and meaningful (to me) discussion topics included job design, organizational design, growing and selecting managers, improving organizational productivity, strategy, and managing innovation.
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Format: Paperback
Drucker's thesis: "Systematic innovation consists in the purposeful and organized search for changes, and in the systematic analysis of the opportunities such changes might offer for economic or social innovation."
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.
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