In his book, Innovation and Entrepreneurship, Peter Drucker presented how innovation and entrepreneurship can be a purposeful and systematic discipline. That discipline is still as relevant to today’s business environment as when the book was published back in 1985. The book explains the challenges faced by many organizations and analyzes the opportunities that leaders can leverage for success.
In the book, Peter Drucker discussed the Do’s of innovation. They are the critical imperatives that need to be done.
- Purposeful, systematic innovation begins with an analysis of opportunities.
We should systematically analyze and study all sources of innovation outlined in the book. We also need to carry out the analysis and study on a regular basis.
- Innovation is both conceptual and perceptual.
Innovation does not just happen. Being purposeful is to go out to look, to ask, and to listen for signals that can help us discover opportunities.
- Effective innovations should not be complicated.
In fact, an effective innovation should be simple, or it will not work. Effective innovation is also a focused effort on a specific need or a specific result.
- Effective innovations start small.
Drucker warned about implementing an innovation that is too grandiose. Most innovations will require many adjustments along the way to succeed. When an initiative starts small, it is much easier to make the changes along the way.
- Successful innovation aims at leadership.
Successful innovation does not need to aim to be the “biggest.” Leadership does not always equate to the biggest size. Leadership does need to project and communicate vision, an end-state where people can buy into the journey.