Innovation and Entrepreneurship
Innovation & Entrepreneurship
This sort essay is what I captured after I read Innovation and entrepreneurship, author by Peter Druker.
Innovation is essentially importance for business growth. Innovation can only be exploited by high entrepreneurship. The better business percept to market and learn from it changes the better opportunities of innovation. Basically Innovation starts from the identifying opportunities and how it integrated into company and managed properly. Below are some examples of innovation, which categories as internal and external sources of innovation.
Unexpected success and unexpected failures. Business opportunities begin from a success or a failure in industry or markets. And it smartly identified as great innovation opportunities. For example; Matsushita did great innovation on TV marketing for farmer. It was stimulated by wrong perception of Toshiba and American that TV only for rich communities. Next example is incongruity. A medical salesman William Corner did great opportunity catch on cataract surgery. During the surgery, he was learned that surgeon has to cut a ligament, which involved high risk. He saw an incongruity on it surgery. And he realized that there was an enzyme may help this incongruity. After Corner did some research, finally he got the answer that the enzyme dissolved this ligament. Quickly he captured great market for it enzyme. Another Innovation source is based on process need and industry perception. An innovation of Linotype on printing industry is the example. It was living for many decades as left old technology and slowly for letter setting in printing industry. Until innovation on linotype answered all it process needs. And it changed industry perception as well.
External source like demographics may also provide opportunities. Most entrepreneurs ignored focus on it. They tend more on market. But growing and changing in population may also offer innovative opportunities.
This sort essay is what I captured after I read Innovation and entrepreneurship, author by Peter Druker.
Innovation is essentially importance for business growth. Innovation can only be exploited by high entrepreneurship. The better business percept to market and learn from it changes the better opportunities of innovation. Basically Innovation starts from the identifying opportunities and how it integrated into company and managed properly. Below are some examples of innovation, which categories as internal and external sources of innovation.
Unexpected success and unexpected failures. Business opportunities begin from a success or a failure in industry or markets. And it smartly identified as great innovation opportunities. For example; Matsushita did great innovation on TV marketing for farmer. It was stimulated by wrong perception of Toshiba and American that TV only for rich communities. Next example is incongruity. A medical salesman William Corner did great opportunity catch on cataract surgery. During the surgery, he was learned that surgeon has to cut a ligament, which involved high risk. He saw an incongruity on it surgery. And he realized that there was an enzyme may help this incongruity. After Corner did some research, finally he got the answer that the enzyme dissolved this ligament. Quickly he captured great market for it enzyme. Another Innovation source is based on process need and industry perception. An innovation of Linotype on printing industry is the example. It was living for many decades as left old technology and slowly for letter setting in printing industry. Until innovation on linotype answered all it process needs. And it changed industry perception as well.
External source like demographics may also provide opportunities. Most entrepreneurs ignored focus on it. They tend more on market. But growing and changing in population may also offer innovative opportunities.