Innovation and Entrepreneurship, Peter Drucker
1) What was the general theme or argument of the book?
1) What was the general theme or argument of the book?
The general theme of the book is to exercise innovation and entrepreneurship in the most effective way possible for the customer. You need to stay on top of new trends to keep yourself in line with what your customer wants, but also innovate new ideas with different market trends, demographic trends and emotional driven trends to interest your customer and stay ahead of your competitors.
2) How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?
In ENT3003, we learn about connecting with our customer and putting ourselves in their shoes so we, as entrepreneurs, can relate and make a product that fits their niche needs to the best of our ability. In the book,
Innovation and Entrepreneurship by Peter Drucker, he talks about knowing the customer's needs but enhances it to change with the customer. Being an innovative entrepreneur means you can adapt to your ever-changing environment and helping your customer change as well. This lesson can also be taken into consideration when dealing with evolving market structures. When you are mixing innovation with entrepreneurship, you must be able to take an idea and reinvent the product to better the customer. This is finding the incongruities, or the diamond in the rough, despite the source. I especially enjoy how the book went into detail of different human emotional desires to stay ahead of trends by being innovative.
3) If you had to design an exercise for this class, based on the book you read, what would that exercise involve?
I would exercise taking a popular product and then reinventing it to make it ahead of its competitors and keeping the customer interests in mind. For instance, if I would take iPhones and creating a new feature to the phone to interest and help customers.
4) What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?
My biggest aha moment was realizing that simplicity will win you your golden ticket. If your cleverness takes over your product and its too complex for different audiences to understand, then it will hurt your product. I found this to be eye-opening because to be innovative, you must be different, but you have to also make it understanding to your customer. Its almost like when people have to explain jokes; it ruins the joke.
Hi Emma! I particularly liked your first part of your post, where it gives the general overview of the book. I found that I could relate right away! I find that nowadays, businesses that are more millennial and modern oriented, grab people's attention. That's where people want to go, that's where people want to be. The old-age and classical ways to go about managing a business are starting to die out, and I think in order to catch the young people's attention, we need to have more business influenced in a more laid back and casual manner. That is what the millennial want to be involved in, that is what they want to part take in.
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