Assignment 27A Reading Reflection No 3

Assignment 27A Reading Reflection No 3 Innovation and Entrepreneurship by Peter F. Drucker

• What was the general theme or argument of the book?

• Peter F. Drucker, in his 1985 book Innovation and Entrepreneurship, argues that the purposeful and intentional practice of innovation is carried through the institution of entrepreneurship. These are not simply the flash of genius that strikes like lightning only once at the outset of a venture but must be constantly and actively facilitated principals within an organization. These can and must be achieved in order for a business to be successful. This approach is what offers the entrepreneurial company the agility to embrace change as an opportunity for innovation.   
• How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?
• I learned in this class through repetition that skills around entrepreneurship and innovation can be learned, practiced, and developed. This is not a matter of chance or luck. One need not be born as “entrepreneurial” or “innovative”. These are things that we all can become. This is exactly what Drucker establishes early in his book and then proceeds to draw a roadmap for that practice. I was immediately reminded of the BUG LIST that we were assigned early in the semester, which could be a page torn directly from Drucker’s book.
• If you had to design an exercise for this class, based on the book you read, what would that exercise involve?
• I would have a student work from Drucker’s list of seven sources in which opportunities for innovation can be found:

                                               i.     The unexpected – the unexpected success, failure, or outside event

                                             ii.     The incongruity – between reality as it actually is and reality as it “ought to be”

                                           iii.     Innovation based on process need

                                            iv.     Changes in industry structure or market structure 

                                             v.     Demographics

                                            vi.     Changes in perception, mood, or meaning

                                          vii.     New knowledge, both scientific and nonscientific

• For each of these, I would have them identify one event/ fact/problem/etc. that falls within each category
• I would then have them brainstorm an innovative response to the opportunity that they have observed.

• What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?

"Entrepreneurial businesses treat entrepreneurship as a duty. They are disciplined

about it they work at it, they practice it."- Innovation and Entrepreneurship, page 150

·      I was struck by this quote from Drucker’s work. I was of the mindset that entrepreneurship and innovation were attitudes that simply infused all processes within an organization. His devotion to the effort and commitment around E and I show up in his assertion that they can’t be sacrificed in the name of putting out daily fires or prioritizing everyday operations. E and I need to be treated like separate but essential practices and policies. E and I should be a division apart from management, but as essential as finance or human resources. This has made me consider how and where I must inject Entrepreneurship and Innovation into the regular operations of my small business.