Tags: innovation

Innovation Opportunities. Part 2

Three additional sources of opportunity exist outside a company: demographic changes, changes in perception and new knowledge. Drucker uses an excellent example to explain changes in perception. He notes that whereas Americans’ health has improved in the last 20 years (newborn mortality rates, survival rates for the old, incidence of cancers, etc.), there has never […]

Innovation Opportunities. Part 1

Innovation, according to Peter Drucker, is “the effort to create purposeful, focused change in an enterprise’s economic or social potential.” It is the means, he says, “by which the entrepreneur either creates new wealth-producing resources or endows existing resources with enhanced potential for creating wealth.”