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Innovation and Entrepreneurship: Practice and Principles Audio CD – Nov 1 2011


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Product Details

  • Audio CD
  • Publisher: Blackstone Audiobooks; Unabridged edition (Nov. 1 2011)
  • Language: English
  • ISBN-10: 1455127574
  • ISBN-13: 978-1455127573
  • Product Dimensions: 17 x 15.8 x 3 cm
  • Shipping Weight: 181 g
  • Average Customer Review: 4.7 out of 5 stars  See all reviews (16 customer reviews)


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2 of 2 people found the following review helpful By Peter Hupalo on Aug. 16 2001
Format: Paperback
Drucker's recurring theme is that good entrepreneurship is usually market-focused and market-driven.
Drucker gives us guidelines for identifying innovative opportunity. For example, unexpected successes or unexpected failures within an industry often point to opportunity. Drucker also suggests that innovative opportunity exists where there is "an internal incongruity within the rhythm or the logic of a process" or a process need.
As a great example, Drucker tells us the story of William Conner, a salesman to the medical industry who decided he wanted to start his own company. Conner went out and spoke with surgeons about the problems and difficulties the surgeons faced.
While talking with surgeons, Conner learned that the process for cataract surgery was generally routine and easy, except there was one incongruity making the surgery difficult and unpleasant for physicians. During the surgery, surgeons had to cut one ligament which involved some risk.
With research Conner learned that there was an enzyme that dissolved this ligament. Conner also learned that new methods of storage could preserve this enzyme allowing it to be used in surgery. After patenting his compound, Conner quickly captured a niche market providing his compound to surgeons performing cataract surgery. No longer did they need to cut the ligament. They could dissolve it. With process need, the market already exists for the innovation. Drucker notes this is a relatively low-risk type of entrepreneurship.
While process need is a great area of entrepreneurial innovation, Drucker also suggests demographics may provide opportunities. I'm more dubious of this. Even though we may know how the population will change in ten years, capitalizing on this change isn't easy.
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1 of 1 people found the following review helpful By Gregory McMahan on Aug. 30 2000
Format: Paperback
With the publication of this book, which goes all the way back to the mid-eighties, Drucker has set the standard for serious entrepreneurship. Drucker tells the reader that innovation and entrepreneurship go hand in hand, and that both innovation and entrepreneurship can be practiced by large and small companies.
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.
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1 of 2 people found the following review helpful By Denis Benchimol Minev on Feb. 13 2003
Format: Paperback
I enjoyed reading this book, especially because it focuses so much on anecdotes. I definitely understood Drucker's point that innovation and entrepreneurship come out of changes in the environment.
However, I believe Drucker missed the most important point, which is: What makes someone more able to exploit an opportunity than someone else? For example, he tells a story about how Ray Krok found out about McDonalds, bought it, and made it great. However, I thought he should have focused on why it was Ray Krok, and no one else, who saw the opportunity, rather than how he bought and made McDonalds. It is an entertaining read, but do not expect any lessons on how to be an entrepreneur.
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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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