Innovation and Entrepreneurship: Practice and Principles
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Innovation and Entrepreneurship: Practice and Principles

4.01 of 5 stars 4.01  ·  rating details  ·  3,440 ratings  ·  46 reviews
The first book to present innovation and entrepreneurship as a purposeful and systematic discipline, this classic business title explains and analyzes the challenges and opportunities of America's entrepreneurial economy.
Paperback, 288 pages
Published January 1st 1993 by HarperBusiness (first published April 1st 1985)
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Herve
Far from my previous post about Perkins, Peter Drucker’s book Innovation and Entrepreneurship was a paradoxical reading. The first chapters were painful even if brilliant. I understood there that innovation is a process which will be successful if carefully planned and managed. Fortunately, chapter 9 completely changed my perception when the author dealt with knowledge-based innovation, which includes innovations based on science and technology. So let me summarize the main points of this chapte...more
Robert
Most people probably think that innovation and entrepreneurship is something that happens by chance or by magic. Reading this book by Peter Drucker should dispel this notion totally. Not only is innovation and entrepreneurship something that can be measured but it is something that can be learned.

The book initially provides definitions of what innovation and entrepreneurship is, what the different types and aspects of each are and where they are most likely to occur. Drucker then continues on wi...more
Nicholas
This review has been hidden because it contains spoilers. To view it, click here.
Jacob Mclaws
I picked this up with the intent to read it and have it under my belt so I could say I've read it just because it is a "classic". I expected a lot of out of date references and antiquated principles of innovation.

I did find A LOT of out of date references to companies that are no longer the innovation powerhouses that they once were (which just highlights the transient nature of being an innovation factory), but the principles and practices seem as true as ever and I don't think it is too bold...more
Babak
This is a very authoritative introduction to the subject of innovation. It is very well-written, although a bit heavy at points. Drucker has made an important contribution, as usual. The part on sources of innovation is very good and also exists as an HBR article.
David Garza
Jul 02, 2008 David Garza rated it 5 of 5 stars  ·  review of another edition
Recommended to David by: Pepperdine Business Program
Even though this book is relatively old, its principles apply in every era. Drucker presents innovation as an ageless art form, in which all that changes is the approach. Any business owner, or out of the box thinker, should definitely read this book.
Ramy Khodeir
The necessary link between to essential disciplines required for the 21st century business enterprise
Maura
I sure wish there was a more recent version. This book would have earned another star if more of the examples had been drawn from the recent past. There were enough timeless examples from the past couple hundred years to make it a worthwhile read, though.

Some useful points:
*Look for the surprise successes and exploit them.

*Don't turn your nose up at unexpected uses for your product if it's selling. It doesn't matter if your happy customers are not the ones you wanted/intended.

*Company founders...more
S
Interesting read, many examples to illustrate what Drucker is trying to convey.
Given that it was published awhile back, it is understandable that some examples have become irrelevant.
And ironically, companies in some of the examples for success have failed.
But c'est la vie!
Faisal Hoque
Most Impactful Business Book I Read.

“This defines entrepreneur and entrepreneurship – the entrepreneur always searches for change, responds to it, and exploits it as an opportunity.” ― Peter F. Drucker
Jomana Ismail
A must read for any one in business field. I would have rated it 5 if the examples are more recent but it is a book from 85 and the concepts are still valid.
Karthikeyan Somasundaram
Great book and gives a clear thought of how innovation is important for success in Entrepreneurship. Enjoyed reading this book
Max Ong Zong Bao
Great wisdom and insight on entrepreneurship and innovative from one of the founder of modern management
Mark Polino
25 years later Innovation and Entrepreneurship holds up just fine. The older examples still translate well. Drucker's idea of a window of entry for firms in knowledge based industries is a perfect fit for the search engine industry, even though Drucker cites railroads as a example since Google didn't exist when this book was written.

In short, it's still excellent and still relevant.
Gregg B. Jensen
It was a good read; it talks about different ways to find innovation, primarily by examining the unexpected. What I really like is how it talks about how big business is losing jobs, and how entrepreneurs and new business are driving the majority of new jobs today. Also, how companies must continuously innovate to survive.
Bernie May
Wish I could give it a higher rating. It's dense with brilliant, seminal ideas. And that's the problem. It's dense, it makes for a deliberate effort to read. Or maybe I just need to read more Drucker and raise the intellectual bar. Definitely on the re-read list, but not for a couple of years methinks.
Jim
The examples are a little (okay, very) dated, but the concepts are spot on. Drucker nailed it - and did so way ahead of the pack. 25 years later his call to build innovation and constant positive change into our organizations is still relevant, and dare I say needed in the business culture of 2010.
Frederick
High tech companies: "They still believe in Benjamin Franklin's dictum: 'If you invent a better mousetrap, the world will beat a path to your door.' It does not yet occur to them to ask what makes a mousetrap 'better' or for whom?"
Justus
Theoretical approach to the problem, most likely great for execs and not a bad read for ideas to keep in mind, but not really geared to startups. Maybe dated, but even so, I really think its a good read even if not the most useful.
Polej
Hearing that book as audiobook gave me a boost towards really really deep changes of the most basic theory/schematics in my life. "All action comes from theory. To change action you have to change the theory" (or something like that)
Eddie
If you learn only one thing, it's that there are no "eureka!!" moments. Archimedes lied to us. Genius does not strike like lightning. Innovation is an iterative process, and there's no way around the fact that it's just hard work.
Joshua Steimle
Phenomenal! If you enjoy reading Clayton Christensen or Geoffrey Moore, you'll find this book to be one of the original sources of the thinking of those two bright men.
Brian
too dense and not very applicable to a wide range of businesses. Drucker is great for the corporate exec world but doesn't translate well to small businesses.
Fernando
Just a must. You should read this only if you aré into entrepreneirship. IT is a little bit dull. And maybe not as timeless as IT should be
Bjorn Hardarson
"Probably a must read for all studying the science and practice of Entrepreneurship by the Dean of Entrepreneurship "
Erwin
EXCELLENT.

Drucker is classic, but not stale.
If you are planning to be an entrepreneur, then you need to read this.
Rohan
This book is so good that I never quite realized the original publishing year was 1985. Highly recommended.
Lance Wiggs
Still the best business book ever in my opinion. Worthy of skipping your next conference and reading instead.
Georgi
Great book. It's old but up to date information is share on it. Same situations different tools.
Mike Mayer
This is a great book. Solid wisdom on where to look and how to pursue purposeful innovation.
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Peter Ferdinand Drucker was a writer, management consultant and university professor. His writing focused on management-related literature. Peter Drucker made famous the term knowledge worker and is thought to have unknowingly ushered in the knowledge economy, which effectively challenges Karl Marx's world-view of the political economy. George Orwell credits Peter Drucker as one of the only writer...more
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“This defines entrepreneur and entrepreneurship - the entrepreneur always searches for change, responds to it, and exploits it as an opportunity.” 26 likes
“Entrepreneurship rests on a theory of economy and society. The theory sees change as normal and indeed as healthy. And it sees the major task in society - and especially in the economy - as doing something different rather than doing better what is already being done. That is basically what Say, two hundred years ago, meant when he coined the term entrepreneur. It was intended as a manifesto and as a declaration of dissent: the entrepreneur upsets and disorganizes. As Joseph Schumpeter formulated it, his task is "creative destruction.” 8 likes
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