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Innovation and Entrepreneurship: Practice and Principles

4.07  ·  Rating details ·  8,941 ratings  ·  123 reviews
The first book to present innovation and entrepreneurship as purposeful and systematic discipline which explains and analyzes the challenges and opportunities of America' s new entrepreneurial economy. A superbly practical book that explains what established businesses, public survey institutions, and new yentures have to know, have to learn, and have to do in today' s eco ...more
Paperback, 288 pages
Published January 1st 1993 by HarperBusiness (first published January 1st 1985)
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Sep 21, 2011 rated it really liked it
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
Jurgen Appelo
Oct 03, 2019 rated it really liked it
Shelves: _startups, innovation
Amazing read for entrepreneurs with countless examples of innovative ideas and strategies.
David Garza
Jul 02, 2008 rated it it was amazing  ·  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.
Jacob McLaws
Jul 03, 2014 rated it really liked it
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 I expected a lot of out of date references and antiquated principles of innovation.

I did find A LOT of out of date references to companies that are no longer the innovation powerhouses that they once were (which just highlights the transient nature of being an innovation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
Mohammad Shaker
Mar 05, 2016 rated it it was amazing
As always, Peter Drucker is one of my favourites on the subject. A book from the 80s that still a great read today, on a very changing and challenging subject such as entrepreneurship, is a sole indicator of how great the book is.
Goktug Yilmaz
Sep 01, 2018 rated it really liked it
Shelves: audio
3 Keys:

- The test of an innovation, lies not on its novelty, its scientific content, or its cleverness. It lies in its success in the marketplace.
- Quality in a product or service is not what the supplier puts in. It is what the customer gets out and is willing to pay for. A product is not “quality” because it is hard to make and costs a lot of money. That is incompetence. Customers pay only for what is of use to them and gives them value. Nothing else constitutes quality.
- All economic activity
Adam McNamara
Mar 15, 2018 rated it really liked it
Shelves: business, nonfiction
Innovation and Entrepreneurship is about how to find opportunities to innovate, how to manage entrepreneurship within an organization, and how to manage entrepreneurial strategy in the market.

In each of these three major sections, Drucker presents frameworks that help organize your thoughts. For example, he proposes seven sources of innovation opportunities, like The Unexpected, Process Needs, and New Knowledge. He's quick to provide relevant case studies for each, helping to make the classifica
Jul 26, 2008 rated it really liked it
Shelves: business
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
Aug 18, 2008 rated it it was amazing  ·  review of another edition
Shelves: business, economics
This review has been hidden because it contains spoilers. To view it, click here.
Ehsan Choudhry
Aug 14, 2020 rated it really liked it
Peter Drucker was way ahead of his time. Published 35 years ago in 1985, the book is still so relevant today. Innovation does not come about by random fluke, or a random work of genius, as most people wrongly tend to believe. It is a systematic science, like all sciences, backed by compensation plans, structure, and strategies etc. A company needs to build in its DNA a system which promotes innovation and entrepreneurship. Furthermore, a society which aims at promoting entrepreneurship culture, ...more
Jan 04, 2019 rated it liked it
Glad that this book was an easy to read but i believe the book can be less than half of the volume to explain everything
Timothy Chklovski
Oct 29, 2014 rated it it was amazing
Shelves: mgmt
This is the first book by Drucker that I've read, but definitely not the last.
Drucker is erudite; he reaches back hundreds of years and across continents to identify first introduction of one thing or another. Although Drucker's seminal contributions have shaped how large corporations in the US and Japan are managed, this work looks at a full spectrum of companies from large to small, and describes the kinds of innovation that succeed.
Drucker delights at debunking conventional wisdom or frequent
Mar 17, 2013 rated it liked it
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
Apr 12, 2018 rated it it was ok
I found it dated. Lean Startup is a more modern view of the topic.
Krishna Kumar
May 03, 2015 rated it it was amazing
Long before the Innovator's Dilemma was written, here is Drucker with the same insights about why innovation must be treated as a special child by management, and the challenges faced by it in existing corporations. This review was written after I read the book for the second time (I had read it previously a few years back), and it is incredible how the contents seem more meaningful and relevant on the second reading. ...more
Nov 16, 2011 rated it it was amazing
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.
Ramy Khodeir
Sep 28, 2012 rated it it was amazing
The necessary link between to essential disciplines required for the 21st century business enterprise
Dmitri Pavlov
Jul 27, 2015 rated it really liked it  ·  review of another edition
Honestly a bit boring, but nevertheless it is smart, some stories and examples are really make you interested. The material just need to be presented better.
Beale Stainton
Mar 31, 2019 rated it it was amazing
Drucker concludes Innovation and Entrepreneurship with the words “will the successor be the entrepreneurial society?” - in regards to the decline of the welfare state in the latter 1970s. Published in 1984, (retrospectively the year I was born), his finishing words do foretell a hint of truth, if I am to speak for my home country New Zealand at least. State subsidies to primary agricultural industries declined, and capital investment into innovative ventures increased. My own father would profit ...more
Apr 16, 2020 rated it it was amazing
This review has been hidden because it contains spoilers. To view it, click here.
Grace Cao
Sep 08, 2020 rated it really liked it
Great insights. Not a five start because it was hard to stay awake reading through the repetitions.

The main idea of the book is that innovation is organized, systematic, rational work. It is not a bright idea that pops up in one's head suddenly and naturally. It is small-steps, tedious, work, effort. Especially the high-confidence short-lead-time ones.

"The entrepreneur shifts economic resources out of an area of lower and into an area of higher productivity and greater yield".

How does he do th
Richard Thompson
This is my first time reading Drucker. I can see why many people think that he is so good. His writing is very analytical and seems smart. The most interesting high level point that he makes is that one of the least important bases for innovation is the bright world changing idea. More often innovation comes from noticing and taking advantage of an unexpected change in the market or discovering a previously unoccupied niche or some other minor or seemingly mundane thing that can have important i ...more
Rhonda Sue
Aug 07, 2017 rated it it was amazing
This is one of those seminal landmark business books that need to be read and digested. Although the book is somewhat outdated in its examples, the principles are still relevant to today's entrepreneurs and innovators. Many of the companies cited in this 1986 book are either no longer with us and newer companies like Apple are barely mentioned. But, that said, Drucker spells out the principles of innovation and entrepreneurship and how to go about practicing it. Take notes.

He also recommends oth
Leonardo Alfonseca
Mar 11, 2020 rated it really liked it
The book is really helpful in showing how innovation and entrepreneurship can be implemented in different industries. I believe the author makes some great points in demystifying the process of innovation and showing that innovation can thrive without a big personality that "innovates." I also believe the author did a pretty good analysis of the different schools of thought that were prevalent in his day. I firmly believe that if the concepts outlined in this book are applied the results would b ...more
AC Slater
Jun 01, 2020 rated it really liked it
In Innovation and Entrepreneurship, Drucker forms a unified theory of entrepreneurship, something that has long escaped economists. Contrary to the conventional wisdom of innovation, predicated on the ethereal minds of geniuses, Drucker believes that innovation is deliberate, systematic, and managed. Indeed, as he demonstrates through numerous examples, innovation often arises from what seems like common sense in hindsight.

Much of Drucker's wisdom holds true today. I highly recommend this book
Nov 02, 2017 rated it it was amazing
Great Great book.
Simple and based on principles.
Peter Drucker is about principles. And it is very much exciting to hear from Peter Drucker, What he thinks about innovation and entrepreneurship.
It is very helpful for managers and budding entrepreneurs to understand some basic principles.
Book is little heavy as it is written by the father figure in management. But it serves the great purpose of educating one self with the basic knowledge of new ventures.
Old, but good examples are cited by Drucker.
Fascinating, rigorous book. Very detailed and dense in a good way. In spite of this book being slightly old, there are numerous very useful insights on entrepreneurship and innovation here. I will definitely be going back to reference this book for many years into the future. Also looking forward to reading more of Drucker's work. ...more
Sy. C
Feb 07, 2018 rated it it was amazing
While one may no longer agree with everything in the book, Drucker's classic has withstood the passage of 30+ years since its initial publication incredibly well. A highly recommended read whether one works in a large organization or startup setting, as an owner or manager. Thought provoking and provides a good methodical framework for identifying and exploiting new markets. ...more
May 20, 2019 rated it it was amazing
You would struggle to write a better book on innovation but it still feels under theorised. Maybe our analytical category of "innovation", namely anything unusually productive in a novel way, only makes sense as a semantic category. There is no common thread to what we consider innovative, beyond us considering it so. ...more
Erik R.
Mar 10, 2020 rated it really liked it
Though published in 1985, the core concepts surrounding innovation catalysts and how to manage them remain relevant. I found some of the chapters on Entrepreneurship particularly useful in shaping the way we run innovation today. Some of the examples are dated, of course, especially given the progress in the technology sector.
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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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