Book: "Innovation and Entrepreneurship" by Peter F. Drucker
1. The theme of the book was that it presented innovation and entrepreneurship as a systematic discipline that explains and analyzes the challenges and opportunities of America's new entrepreneurial economy.
2. In my opinion it connected and enhanced what I'm learning in ENT 3003 as it provides me with more entrepreneurial strategies and provides real world examples of all the strategies and concepts that it talked about in the book.
3.I would design an exercise based on creative imitation and the exercise what have people attempt to find business just like the ventures they came up with and have them try to improve the already made product and try to find a new market for it while incorporating it into their business.
4. My biggest surprise is how Japan took American products and performed creative imitation to improve the products and take over the markets from the starting companies. I didn't know some companies just refuse to see other markets and by having products at high prices makes them vulnerable for other companies to come in and take over the market.
I'm not really sure if I understand fully what the book is about from this, but I always find it interesting when we compare our economy to that of those in the far east. Japan, China and South Korea, as well as other east Asian countries, are notorious for their rapid technological innovation and growing economies. Most of what they do is take the basic ideas of products and make them better! Automobiles, computers .... (Pop music)... history is all I need to look to to see that this is indeed true! Perhaps in America we could focus more on forms of improvement, rather than always being tasked with starting a completely new product in entrepreneurship. I know that I, for example, started my project off with an innovation I thought would help Starbucks, but upon realizing that it had to be a completely new product and service, I abandoned that idea. Nice to know that there's a book out there talking about this!
ReplyDeleteYeah I agree with the person above, Im not really sure what the book is about based on this post. But innovation and entrepreneurship is that this class is all about. Its using entrepreneurship to think outside the box about products, ideas, the target audience, etc. And to use innovation to come up with an idea or product that will benefit your target audience. Therefore, they play hand in hand with one another.
ReplyDeleteThis book is the precipice of innovation when it comes to the needs of a people and a past culminating in opportunity, and that by it's nature is a form of entrepreneurship. The Japensese saw the opportunity to recreate American products and services but at a more cost effective rate, thereby taking away market from competitors and giving themselves one in a single feel swoop.
ReplyDeleteI can't figure out what the book talks about but it seems relevant to this class. Creative imitation sounds significant in that a product is taken over and improved rather than built from scratch, and then finding a market for it. That's interesting how Japanese companies managed to take over American products and infiltrate markets that way. I wonder how an entrepreneur can take advantage of something like that by using it on a smaller scale.
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