Innovation and Entrepreneurship

Innovation and Entrepreneurship

Peter F. Drucker

Language: English

Pages: 288

ISBN: 0060851139

Format: PDF / Kindle (mobi) / ePub


Peter Drucker's classic book on innovation and entrepreneurship

This is the first book to present innovation and entrepreneurship as a purposeful and systematic discipline that explains and analyzes the challenges and opportunities of America's new entrepreneurial economy. Superbly practical, Innovation and Entrepreneurship explains what established businesses, public service institutions, and new ventures need to know and do to succeed in today's economy.

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at a high rate and the popular condemnation of interest and dividends as “unearned income” and “capitalist,” if not as sinful and wicked. But one way or another any country that wants to remain competitive in an entrepreneurial era will have to develop tax policies which do what the Japanese do by means of semi-official hypocrisy: encourage capital formation. Just as important as tax and fiscal policies that encourage entrepreneurship—or at least do not penalize it—is protection of the new

birthrate. But it will survive only if the entrepreneurial economy succeeds in greatly raising productivities. We may even still make a few minor additions to the welfare edifice, put on a room here or a new benefit there. But the welfare state is past rather than future—as even the old liberals now know. Will its successor be the Entrepreneurial Society? Suggested Readings Most of the literature on entrepreneurship is anecdotal and of the “Look, Ma, no hands” variety. The best of that

produce something. Innovation therefore always has to be close to the market, focused on the market, indeed market-driven. THE CONSERVATIVE INNOVATOR A year or two ago I attended a university symposium on entrepreneurship at which a number of psychologists spoke. Although their papers disagreed on everything else, they all talked of an “entrepreneurial personality,” which was characterized by a “propensity for risk-taking.” A well-known and successful innovator and entrepreneur who had

relates innovation and entrepreneurship to the economy, and by a Conclusion that relates them to society. Entrepreneurship is neither a science nor an art. It is a practice. It has a knowledge base, of course, which this book attempts to present in organized fashion. But as in all practices, medicine, for instance, or engineering, knowledge in entrepreneurship is a means to an end. Indeed, what constitutes knowledge in a practice is largely defined by the ends, that is, by the practice. Hence

politicians.” It is a very old litany—in fact, it was already hoary when Machiavelli chanted it almost five hundred years ago. The only thing that changes is who intones it. At the beginning of this century, it was the slogan of the so-called liberals and now it is the slogan of the so-called neo-conservatives. Alas, things are not that simple, and “better people”—that perennial panacea of reformists—are a mirage. The most entrepreneurial, innovative people behave like the worst time-serving

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