Peter Drucker Quotes About Innovation
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There are only two things in a business that make money - innovation and marketing, everything else is cost.
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The best way to predict the future is to create it.
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Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.
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But innovation is more than a new method. It is a new view of the universe, as one of risk rather than of chance or of certainty. It is a new view of man's role in the universe; he creates order by taking risks. And this means that innovation, rather than being an assertion of human power, is an acceptance of human responsibility.
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The enterprise that does not innovate ages and declines. And in a period of rapid change such as the present, the decline will be fast.
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People who don't take risks generally make about two big mistakes a year. People who do take risks generally make about two big mistakes a year.
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An established company which, in an age demanding innovation, is not able to innovation, is doomed to decline and extinction.
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Above all, innovation is not invention. It is a term of economics rather than of technology.
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Effective innovations start small. They are not grandiose. They try to do one specific thing.
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There are companies that are good at improving what they're already doing. There are companies that are good at extending what they're doing. And finally there are companies that are good at innovation. Every large company has to be able to do all three - improve, extend, and innovate - simultaneously.
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Making changes to better appeal to customer is INNOVATION.
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Knowledge is the source of Wealth. Applied to tasks we already know, it becomes Productivity. Applied to tasks that are new, it becomes Innovation.
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Innovation opportunities do not come with the tempest but with the rustling of the breeze.
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What we need is an entrepreneurial society in which innovation and entrepreneurship are normal, steady and continuous.
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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. It is capable of being presented as a discipline, capable of being learned, capable of being practiced. Entrepreneurs need to search purposefully for the sources of innovation, the changes and their symptoms that indicate opportunities for successful innovation. And they need to know and to apply the principles of successful innovation.
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Whenever anything is being accomplished, it is being done, I have learned, by a monomaniac with a mission.
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If you want something new, you have to stop doing something old
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Since we live in an age of innovation, a practical education must prepare a man for work that does not yet exist and cannot yet be clearly defined.
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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.
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Marketing and innovation produce results; all the rest are costs.
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Because its purpose is to create a customer, the business enterprise has two - and only these two — basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are 'costs'.
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Innovation requires us to systematically identify changes that have already occurred in a business - in demographics, in values, in technology or science - and then to look at them as opportunities. It also requires something that is most difficult for existing companies to do: to abandon rather than defend yesterday.
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It is commonly believed that innovations create changes - but few ever do. Successful innovations exploit changes that have already happened.
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Providing more desirable products, services, and customer experiences is vital to the continued existence of any business. And that is INNOVATION.
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Marketing and innovation make money. Everything else is a cost.
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Managing innovation will increasingly become a challenge to management, and especially to top management, and a touchstone of its competence.
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Thus, for those who are willing to go out into the field, to look and to listen, changing demographics is both a highly productive and a highly dependable innovation opportunity.
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No other area offers richer opportunities for successful innovation than the unexpected success.
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Business has only two basic functions - marketing and innovation.
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