Innovation and Entrepreneurship-DEG-04.pptVIP

Text Drucker, P. F. (1986). Innovation and entrepreneurship. . Long career at Claremont College. What are the two functions of business? Marketing Innovation Managing a Business Profit is result, not a cause, of business activity 多算胜，少算不胜，而况于无算乎！ Preparedness ensures success, unpreparedness spells failure. Having a market plan can be the life and death of a business? Understand your market and competition Understand your customer Pick a niche Why ? The marketplace is packed with competition Set sales and Marketing goals Use SMART formula Set priortity 80/20 rules PRIORITIZE Rules for identifying priorities Pick the future instead of the past Focus on opportunity rather than problems Choose your own direction, rather than climb on the 5 Steps in Making Decisions Aim high for something that will make a difference rather than for something that is safe and easy to do 5 Steps in Making Decisions Define the Problem Analyze the Problem Develop Alternative Solutions Find the Best Solution Implement the Decision How to be innovative in your business Sources of Innovative Opportunity Systematic innovation consists in the purposeful and organized search for changes and in the systematic analysis of the opportunities such changes might offer for economic or social innovation. Principles of Innovation Begin with analysis of opportunities. Innovation as conceptual and perceptual. Simple and focused. Start small. Aims at leadership. Don’ts Don’t be clever. Don’t diversify. Don’t diversify for the future; diversify for the present. 3 Conditions Innovation is work. It builds on strength. Innovation is an effect in economy and society. Three Stonecutters “I am earning a living” “I am being the best stonecutter I can be” “I am creating a cathedral” 5 Steps in Making Decisions Define the Problem Analyze the Problem Develop Alternative Solutions Find the Best Solution Implement the Decision Conservative Innovator Tries to minimize risk (cf Vincenti). Not the usual stereoty