CMS BUSINESS SCHOOL JAIN UNIVERSITY

A BOOK REPORT ON INNOVATION AND ENTREPRENEURSHIP WRITTEN BY - PETER F. DRUCKER

PRESENTED BY:RISHAB R MEHTA

Introduction to the author:

AUTHOR- PETER FERDINAND DRUCKER BORN-1909 in Vienna, Austria EDUCATION- in Austria and England and doctorate in public and international law at Frankfurt University in Germany. ACHIEVEMENTS Written 41 books on economics, politics, society, and management. Wrote a regular column in the Wall Street Journal for 20 years. Received the Presidential Medal of Freedom, the U.S.s highest civilian honor, and orders from the governments of Japan and Austria. Holds 25 honorary doctorates.

Innovation in 1980s Abundance of young risk takers who were willing to endure the ruthlessly long hours required by entrepreneurial opportunities. Job seeker and not job provider. Corporate executives required their people to learn the disciplines of innovation and entrepreneurship

Primary focus is on the actions and behavior of entrepreneurs, presents innovation and entrepreneurship as a practice and a discipline. In Part 1, Peter Drucker defines innovation as a means by which entrepreneurs may exploit change in order to create new service and business opportunities. Entrepreneurial enterprises by their nature create a market niche and fill a consumer need. These enterprises include small businesses, large enterprises, and nonbusiness service institutions. Sources for innovative opportunities in enterprises include new knowledge (scientific and non-scientific) and changes in industry structure, demographics, and perceptions.

Part 2 focuses on managerial strategies for the new venture, the existing business, and the public service institution. All organizations must acquire entrepreneurial competence to keep pace with changes in economy and society. Leaders in the three types of organizations must become skilled in entrepreneurial management. Part 3 examines practices and policies that entrepreneurs should follow in the marketplace. Druckers strategies involve aiming for leadership and/or dominance of a new market or existing market, finding and occupying a specialized niche, and changing the economic characteristics of a product, market, or industry.

Explore successful new ways of doing things. Practical Understand world economy and helps to start up new venture. Expansion Mistakes not to be repeated and come up with new ideas to sustain in business Exposure and motivation book for young entrepreneurs to extract

THANK YOU