I read Innovation and Entrepreneurship by Peter F. Drucker.
1. What was the general theme or argument of the book?
This book breaks entrepreneurship down into three sections: "The Practice of Innovation," "The Practice of Entrepreneurship" and "Entrepreneurial Strategies." These sections help make sense of the process entrepreneurs go through from identifying an opportunity to managing one to highlight how it is an ever-changing practice. The three sections help make the argument that innovation is only one step in the direction of becoming a successful entrepreneur and without proper management to solidify your niche in the market, it could be a lost opportunity.
2. How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?
This book connected with and enhanced what we've learned in ENT3003 so far by reinforcing the idea that entrepreneurship is about constantly identifying and fulfilling unmeet needs in society. It also enhanced my interpretation of how innovation is crucial to the evolution of an opportunity and its position in the market place.
3. If you had to design an exercise for this class, based on the book you read, what would that exercise involve?
My exercise would involve giving students a made up business that already operates semi-successfully within their opportunity and market. Then, I would ask them to identify new areas of innovation within the opportunity to expand the current business and present new niches in the market.
4. What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?
I've always thought of starting your own business as a fairly risky venture, so I was a little surprised when I read that entrepreneurship shouldn't be associated with risk as much as it is. The reasoning in the book makes some good points as to why we shouldn't view entrepreneurship as risky because it could hindering us from reaching out peak success.
Hey Caelan,
ReplyDeleteI enjoyed reading your blog this week as it was very informative and very interesting. I thought it was interesting to listen to your point of view on the book you chose for your second reading reflection. Even though I didn't read the same book as you, I feel that I for sure got some knowledge out of your post. I will be checking out that novel and gaining a new view by reading it myself. Overall, great post and details, I thought this was well thought out.
Hey Caelan,
ReplyDeleteI wrote about the same book and had similar takeaways. The lessons taught were significant in that they educated the public about how to utilize opportunities in the market and how to approach entrepreneurial ideas. I really enjoyed reading about your idea for the class. Having students working with a current product to identify new opportunities would truly be a useful exercise.