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Thursday, October 3, 2013

HBR Innovation: Post #7--Discipline of Innovation

The Discipline of Innovation by Peter Drucker (originally published in May 1985).  Innovation is about the effort “…to create purposeful, focused change in an enterprise’s economic or social potential.” Entrepreneurs innovate…whether they’re in small companies, big ones or startups. Commitment to a search for useful ideas is what entrepreneurs share—not some genius. At its heart innovation’s about “the disciplined effort to improve a business’s potential.” Entrepreneurs find innovation opportunity in seven areas: 1. Unexpected occurrences, like failure; 2) Incongruities; 3. Process needs; 4. Industry and market changes; 5. Demographic Changes; 6. Changes in perception; and, 7. New Knowledge.

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