Innovation and Entrepreneurship By Peter Drucker.
The general theme or argument of this book is what companies and new ventures need to learn, do, and know to keep up with today's everchanging and modern world. Peter focuses on how entrepreneurship is broken down into three aspects, and he mentions that aspects are not stages. The three main aspects are the practice of innovation, the practice of entrepreneurship, and entrepreneurial strategies. Peter explains that this is a practical book and not a how-to book. He also states how we have become an entrepreneurial economy in the past ten to fifteen years.
I would say this book connects with what we learned in ENT3003 by having us practice entrepreneurship and the strategies we can use to try and make the venture better. Strategies can be talking with people and getting input from them about our product or service. An idea needs to meet the needs of others, or it will just remain an idea. People must have a need for what we are offering them. Feedback from others is what will make the new venture a success.
If I had to design an exercise based on this book I would have students identify something they think is obsolete or becoming obsolete and then use creativity and imagination to redesign the product or service. This would be an innovation exercise, and crazy or stupid ideas would be welcome. There would be no wrong ideas, and whatever your redesign looks would be fine. There would be no chance of any ideas failing.
I think my biggest surprise when reading this book was that Peter states planning is actually incompatible with an entrepreneurial society and economy. I would have thought that planning would play a major role in our society and economy. I also thought this book was hard to follow and understand with all the statistics he threw out in the beginning, but I did like how he made mention of well know companies and how they overcame warning signs about what was going wrong and moved forward.
Victor, I enjoyed reading your thoughts on the book. I really like your idea to create a exercise where students would have to re-modify a product or service that's already out there. For me, I would probably make drive thrus wider for cars because I've been through a couple of drive thrus where the corners are tight and I feel like I would hit my car.
ReplyDeleteMichelle Lam
I’m interested in what he means by entrepreneurial economy. I think the idea that there are more and more aspiring entrepreneurs is happening. Your exercise sounds like our buglist one, and I think it’d be cool. I really want to see some overview of the entrepreneurial strategies he mentions in the book. You basically covered all the points, great work!
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