Innovation and Entrepreneurship

This is the only book I came across which deals with entrepreneurship at theoretical as well as practical level. The book gives practical methods, strategies to keep in mind while innovating and going for new ventures. It has very clear about everything. It has listed down step by step sources of Innovation, Principles of Innovation and Also about Entrepreneurship. Great Book by Father Of Modern Management.

WOW it was Elsevier publications i had a copy from other publisher but this was :)

I liked the examples which this book shares. This was the first book on innovation therefore, don't expect too much from this book, but you can read it if you are desperate fan of Peter Drucker.

Great

Nice book

Quiet complicated issues classified, affordable for the one who does this as major subject.

Must read...

The printing, pages and cover is below average quality, it seems like road side seller book who sale mostly duplicate books.

Peter Druker's books are worthy and full of knowledge and information

Takeaways from reading the book: What are examples of innovation in education? - Page 30: It was the textbook that made universal education possible. After the textbook was developed many more people had the possibility to learn. - Page 177: The Prussian diplomat Wilhelm von Humboldt founded the University of Berlin in 1809. He was an outsider. What are examples of innovation in healthcare? - Page 15: From 1930 to 1980, it was widely believed in the USA and Western Europe that the hospital was the best place for anyone, who was not quite well. We now increasingly believe that the longer we can keep patients away from the hospital, and the sooner we can get them out, the better. It is a reaction against centralization. - Page 31: The hospital - in its modern form a social innovation of the enlightenment of the 18th century - has had greater impact on healthcare than many advances in medicine. What do entrepreneurs do? - Page 22: Entrepreneurs create something new or something different. Thereby they help change values people have. - Pages 21, 26 and 27: When the term entrepreneur was coined about the year 1800 by the French economist J. B. Say, it was a declaration of dissent. The entrepreneur upsets and disorganizes. Change is seen as normal and healthy. The entrepreneur searches for change, responds to it and exploits it as an opportunity. - Page 27: Entrepreneurs shift resources from low productivity and yield to areas of higher productivity and yield. - Page 30: Entrepreneurs find a use for something. Thereby, that something becomes a resource. - Page 33: Entrepreneurs try to create value and make a contribution. - Page 152: Entrepreneurs recognize that all existing products, services, distribution channels, processes and technologies have limited life expectancies. - Page 154: Focus as much on opportunities as on problems. When brainstorming about opportunities, they question everything and develop ideas. - Pages 188 to 193: Entrepreneurs focus on the market. What you think users need may differ from what users actually need. Find out the real needs of users, for example by trying out things / testing, observing and asking questions. A product or service is defined by the customer - not by the producer. The customer knows what a great customer experience is. - Page 193: Entrepreneurs plan for cash flow. - Page 196: Entrepreneurs start building a team before you need it. - Page 199: Entrepreneurs find out what they do well. - Page 200: The entrepreneur decides on her / his own role, area of work and relationships. - Page 201: Entrepreneurs ask themselves what they really believe are the right things to do. - Page 202: Polaroid founder Edwin Land invited others to manage Polaroid. He created a lab where he could work on creating scientific innovations. - Page 202: McDonald's founder Ray Croc invited others to manage McDonald's. He focused on visiting stores every week to check quality - including cleanliness and friendliness. - Page 204: Entrepreneurs get objective coaching from from people with whom they can discuss decisions. What can you do to innovate? - Page 87: A simple strategy has a better chance of succeeding than a complicated one. - Page 135: To innovate, look at figures. - Page 135: To innovate, observe, ask and listen to people. Find out what they need and what their values are. - Page 135: Effective innovations are simple and obvious. - Page 135: Effective innovations start small. - Page 136: Do not try to be clever. Innovations have to be handled by ordinary human beings. - Page 136: Focus. - Page 136: Innovate for the present - not for the future. Example: From the first day the computer was useful, for example for calculating numbers through Microsoft Excel. How can the unexpected inspire innovation? - Page 35: The unexpected success has relatively low risk and uncertainty. The innovations arising from this typically have the shortest time between start and results. - Page 45: If an unexpected problem / mistake happens, try to dig into it to find out reasons and needs. How can differences between a) reality and b) what people think ought to be inspire innovation? - Page 57: Differences between what users need / value and what an industry or company is doing. - Page 67: Before the "Scott spreader" was developed, no supplier of lawn care products gave the customer a tool to control the process. How can needs in a process inspire innovation? - Page 69: Replace a task / service in the process that does not create the required output. - Page 69: Redesign an old process to make it satisfy needs better. Example: Perhaps some services can be done at the same time. Or a service need to be done before or after another service. - Page 69: Create a link that is missing in the process. - Page 72: Create a prototype, so people can see what is needed. Example: Edison who created lightbulbs. - Page 73: Innovations based on process need to be tested against five criteria: 1. Is there a process? 2. Is there a weak or missing link? 3. Is there a clear goal? 4. Are there clear specifications for the solution? 5. Is there a widespread realization that there ought to be a better way? How can changes in population inspire innovation? - Page 88: What is changing in terms of the size of the population, the age of people, education, employment or income. - Page 88: What products / services will be bought by whom in which quantities? - Page 94: Increase in the number of elderly people. - Page 96: How do which people want to learn / re-educate themselves? How can changes in perception inspire innovation? - Page 101: How will the changing roles of women and men open up for innovation? - Page 101: How will the increasing importance of diversity open up for innovation? How can new knowledge inspire innovation? - Pages 107 and 112: Much knowledge came together to make the computer possible. In fact, the computer required that 5 different types of knowledge came together: 1. The audio tube, a scientific innovation. 2. The binary theorem, a mathematical discovery. 3. A new logic. 4. The design concept of the punchcard. 5. The concepts of program and feedback. - Page 110: There is a potential to help people learn in better ways. - Page 115: In Japan, Shibusawa Eichii started a bank by carefully analyzing the knowledge available and the knowledge needed. In contrast to J.P. Morgan and Georg Siemens, Shibusawa published his papers. - Page 118: Joseph Swan's lightbulb was better than Edison's. However, Edison worked on more than just developing the product. For example, Edison worked on developing the distribution system, so he could sell and install electric power. - Page 126: A cure for cancer will be received very well by people, who have cancer. With most knowledge-based innovation, however, we cannot know who it will be received. Example: When the computer came, many experts did not think that businesses wanted it. - Page 128: Market research does not work. One cannot do research on something that does not exist. How can a bright idea inspire innovation? - Page 130: 7 or 8 out of 10 patents were created based on a bright idea. A large proportion of new businesses are built around bright ideas. - Page 131: Innovators improve if they base their work on a systematic analysis of the sources of innovative opportunity.

What hindsight shows overlaps with PD's foresight in so comprehensive a fashion that one seems to be sitting today in a classroom attending a lecture of his. I do find his text hilarious in its tone in certain places but hair-raising at the same time.

fast delivery & received in good order. good reference book to keep. thank u! 😄

Un capolavoro, in alcuni punti di un'attualità quasi sconcertante considerato quanto tempo fa è stato scritto. Grande Drucker.