I am about three days into Peter Drucker’s book, Innovation and Entrepreneurship. It’s a good read provided you skip the introduction that consists almost entirely of understated 1984 prophesy’s about the future of the tech space.
Drucker approaches entrepreneurship as a science centered on confronting new frontiers rather than establishinga new businesses or owning a business. The argument is that a person starting a new hamburger stand where there is a market need for a hamburger stand is not an entrepreneur. The entrepreneur would open a beatnik hamburger bar that plays old movies instead of sports in a part of town that already has hamburger stands, coffee shops and sports bars.
He goes so far as to make the point that companies like DuPont, 3M and Apple (I added Apple to his list) have proven that well established companies can be entrepreneurial. Whenever a person, partnership or company takes a risk by forging into a new frontier, entrepreneurship has taken place. Read the rest of this entry →