Innovation and Entrepreneurship

Peter Drucker's classic book on innovation and entrepreneurship

This is the first book to present innovation and entrepreneurship as a purposeful and systematic discipline that explains and analyzes the challenges and opportunities of America's new entrepreneurial economy.

Rigorously detailed, the volume outlines seven sources of innovative opportunity, analyzing symptoms of change that range from unexpected market successes to shifts in demographics.

Drucker draws on decades of consulting experience to dissect market strategies, showing how ventures secure leadership through creative imitation or specialized ecological niches.

Superbly practical, Innovation and Entrepreneurship explains what established businesses, public service institutions, and new ventures need to know and do to succeed in today's economy.

• Actionable Strategies: Establish a systematic policy of abandonment to put every product, process, and channel on trial every three years, starving yesterday to free resources for tomorrow.
• Case Studies: Analyze historical breakthroughs and missteps, from how the unexpected failure of Ford’s Edsel uncovered lifestyle segmentation to how McDonald’s turned routine food preparation into a scientific process.
• Entrepreneurial Finance: Master cash-flow forecasting and capital planning to prevent rapid sales growth from triggering sudden insolvency and managerial disarray.
• Disciplined Entrepreneurship: Target narrow ecological niches with toll-gate positions, where supplying an indispensable component like can-sealing compound or surgical enzymes provides enduring protection against competition.
• Also by This Author: Effective Executive, The Essential Drucker and The Daily Drucker.