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Zusammenfassung von Innovation and Entrepreneurship

Name: Innovation and Entrepreneurship
Rating: 4.3 (66 reviews)
Author: Peter Drucker

Peter Drucker

Discover how anybody in any job can be an entrepreneur

4.3 (66 Bewertungen)

21 Min.

Kurz zusammengefasst

'Innovation and Entrepreneurship' by Peter Drucker highlights the importance of entrepreneurship as a tool for economic and social development. It offers insights on how to generate new ideas, assess opportunities, and create successful businesses.

Themen

Unternehmertum Innovation

Inhaltsübersicht

Innovation and Entrepreneurship
in 9 Kernaussagen verstehen

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Kernaussage 1 von 9

What’s in it for me? Learn how to be an entrepreneur.

Contrary to popular belief, there is no “entrepreneur personality.” The truth is, anyone can be an entrepreneur. All it takes is knowing how to employ the right strategies and understanding the key to being a successful entrepreneur – innovation. This doesn’t have to mean inventing something – you can also be innovative in the way you do things.

In this book, you will find out:

How and where to look for innovative strategies;
How IBM profited from their rival’s idea;
Why business strategies are like launching a rocket to the moon.

To innovate, you must look for sources of innovation.

How do entrepreneurs become successful? Some say luck, others say hard work. But the truth is – to be a successful entrepreneur you must always be on the look-out for sources of innovation. That is, events that offer the impetus for innovation.

These sources can be internal – occurring within a business, market or industry – or they can be external, from a field such as politics, academia or science.

Let’s take a look at the internal sources of innovation.

The first internal source is the unexpected.

This happened to Macy’s, New York’s largest department store, when customers started buying more and more appliances. Macy’s hadn’t planned this – the trend just happened.

When the unexpected happens, a clever company or entrepreneur will exploit it.

Macy’s wasn’t so slick, however. When confronted by this unexpected success, they actually tried to curb the sales of appliances, as it wasn’t normal. As a result, they lost a lot of their market share.

Other department stores such as Bloomingdale’s also experienced the same phenomenon. In contrast to Macy’s, though, they took advantage of the trend and invested money in marketing their appliance departments, which led to increased profits.

Another internal source of innovation comes from changes or development in an industry or market.

For instance, in the 1960s the automobile industry suddenly changed from a market where each country was led by local companies to an international market dominated by multinationals.

Companies like Volvo took advantage of this change and aggressively marketed themselves globally. Consequently, Volvo went from a small manufacturer that was barely able to break even to a worldwide success.

Other companies like Citroen, however, didn’t adapt to the changes and lost out as a result.

So the more you can utilize the unexpected and know how to leverage a changing market, the more you will benefit.

If you can identify a weak link in a process or a misdiagnosis in a situation, you can innovate.

So far we have talked about two internal sources of innovation. But there are two more – process need and incongruities – which we will explore in this blink.

Process need focuses on finding a weak link in a process, because a weak link is a perfect opportunity for an entrepreneur to innovate.

Entrepreneurs can innovate outside of an industry, market or company.

Not all the opportunities for innovation come from within an industry, market or business. Some come from the outside world, like social, political and academic fields. These are known as external sources of innovation. Let’s take a look at them.

One external source of innovation comes from understanding demographics, because when the population changes, so does the market.

Entrepreneurship is not just for start-ups – big businesses can also be innovative.

It is often thought that innovation is a phenomenon limited to small, hungry entrepreneurs, but this isn’t true. Businesses can also be innovative. However, in order to do so they must follow certain steps.

The first is to have standardized policies that create an environment where innovation can flourish.

New enterprises need to know where they are headed in order to thrive.

All new enterprises need to have a plan. Specifically, they need to plan what they are doing now so they can continue in the right direction. To build an effective business you need to follow four steps.

The first step is to focus on finding a market.

Being the first to enter a market yields huge advantages.

When you enter a market as an entrepreneur, you need to find a way of securing yourself a market share. In order to stand the best chance of doing this, you should adopt an entrepreneurial strategy.

One such strategy is to be the “Fustest with the Mostest,” meaning the aim to be the first in your field and then exploit that advantage.

You can achieve massive success by exploiting the market gaps your competitors don’t see.

The next entrepreneurial strategy involves finding the gaps that your rivals ignore. The author defines this as a “Hit Them Where They Ain’t” strategy. There are two ways to do this: creative imitation and entrepreneurial judo.

Creative imitation is where an entrepreneur imitates a pre-existing idea but applies it in a way that is more appealing to customers.

Entrepreneurs can succeed by finding a niche position in a market.

Quite often, an entrepreneur can be successful if they specialize in one particular area. The author defines this strategy as ecological niches, and there are various ways to discover them.

The first is that you can follow a toll-gate strategy, where you gain market control through a product or service which is a vital aspect of another product or service.

Entrepreneurs can become successful by creating increased demand for an existing product.

In this final strategy, the innovation isn’t a product or a service, but the strategy itself. It centers on taking an established product and creating a new customer demand for it.

Let’s look at two ways of doing this.

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Worum geht es in Innovation and Entrepreneurship?

Innovation and Entrepreneurship (2006) demonstrates how to be innovative and reveals strategies that create customers for your innovation. It shows how entrepreneurship can be learned and implemented by anyone and how entrepreneurial skills can be used not just in new ventures but in established corporations.

Wer Innovation and Entrepreneurship lesen sollte

Entrepreneurs and anyone interested in entrepreneurship
Senior managers in large companies
Anyone with a great idea for a new product or service

Über den Autor

Peter Drucker (1909–2005) was considered one of business management’s top thinkers. He was a management consultant, educator and author. He published over 35 titles – a substantial body of work that contributed to the foundation of modern business thinking. Drucker was awarded the Presidential Medal of Freedom by George W. Bush in 2002.

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