I is for Innovation

Posted by Pierre de la Fortune on September 09, 2015 @ 12:01 a.m.

Written by Peter Baskerville and Dr. Neil Flanagan

Innovation sets the entrepreneur apart from all of their other commercially engaged contemporaries. Entrepreneurs know how to add value by making a product better and getting a target market to demonstrate their appreciation of it by parting with their money. The management theoretician Peter F. Drucker in his book "Innovation and Entrepreneurship: Practice and Principles" describes innovation as what entrepreneurs do. For him, innovation represents "the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or different service ... innovation involves, changing the value and satisfaction obtained from resources by the customer" (p. 19-33).

An entrepreneurís core competency is to find new ways to solve problems and to come up with clever, workable solutions. They are naturally curious, inquisitive, bright and highly flexible in their thinking. They constantly scan their environment for new trends and are keen to spot a potential new venture opportunity. A very interesting aspect of the entrepreneurial mind-set is that having no money is not perceived by them as a barrier to 'making it happen'. They possess an almost naÔve belief that funds are the resources that naturally follow an opportunity whose time has come and where a balanced and experienced team has been gathered to exploit it. A surprising fact for many, but thatís how it works.

"Creativity is born of a passion to do it right and to do it better" PB

For more info please visit:http://knol.google.com/k/characteristics-of-an-entrepreneur#view

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Innovation is the key

Awe, we miss you Steve Jobs ;-( -Sue

Think Different

Innovation

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