Friday, November 9, 2018
Assignment 21A--Reading Reflection No.2
In essence, the theme of Innovation and Entrepreneurship by Peter Drucker is that innovation is the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or a different service. A way I feel the book correlated to our learning in this course was that the book outlines the arguments that entrepreneurs, by definition, shift resources from areas of low productivity and yield to areas of higher productivity and yield. This is something Professor Pryor mentioned in lectures. An assignment I could make for this course that ties in with the book is to have students write down a list of some of the riskiest things they've ever done, which is a reference to the book. The biggest surprise I had reading this book was that Drucker considers the word "innovation" as an economic term rather than a technical one.
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Change is the thing that can really make or break ideas based on how people can adjust and adapt. I believe those who can exploit during change as you said are innovators and the ones who will come away on top. Dr. Pryor has mentioned this many of times in our lectures and it's a fundamental part of the course. I never thought of innovation as an economic term but after reading this reflection I would second guess myself.
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