I chose the book “Innovation and Entrepreneurship” by Peter
Drucker and I found it very interesting. The book focused on the premises, “the
practice of innovation, the practice of entrepreneurship, and sound
entrepreneurial strategies” The overall theme of the book was how to be a
successful entrepreneur and how innovation, entrepreneurship and the strategies
of entrepreneurship work together in relation to society.
2) How did the book, in your opinion, connect with and enhance
what you are learning in ENT 3003?
This book encompasses all of what I have learned in ENT3003.
What stood out to me mainly were the ventures, which we learned about in this
class. Ventures such as, the existing business and the public service
institution. Drucker aims to dominate a new and existing market, which we also
learned about in this class. The market does not have to be created to be
successful.
3) If you had to design an exercise for this class, based on the
book you read, what would that exercise involve?
I would design an exercise that makes students in a group invent
a new product in their head on a random day. These students would then have to
come up with a market to which their product belongs. Then the students would
come up with how to make the product better and how to market the product to
the particular market. I believe that group work is very important and must be
done to get new ideas.
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?
My biggest ‘aha’ moment in “Innovation and Entrepreneurship” was
looking at outside of the enterprise. Looking at demographics, population
changes, the countries spoken about made me realize how right Drucker is. I was
not surprised by the fact that American teenagers want sneakers, but I was
simply informed. I realized that entrepreneurs must cater to specific
populations and the changing population.
Hi Amanda! I really enjoyed reading your reflection because I was really torn about what books to choose for my own reflections and this was one I was particularly interested in! It is so cool that the book really relates to this course and mirrors some of the concepts we have been learning about over the semester. It is so true that entrepreneurs must cater to specific markets and customers!
ReplyDeleteHi Amanda,
ReplyDeleteI like the idea that a market does not have to be created to be successful. I never that of that when starting a venture. I like the exercise you suggested! It would help the idea juices flow for future concepts. It would prepare them for their future product. I haven't read this book, but I agree with your aha moment. I would not have considered looking outside of the enterprise. That's smart and helps determine if there is any market you haven't covered that you wouldn't expect.
Hey Amanda,
ReplyDeleteWow, this book is extremely similar to what we have learned in class. Professor Pryor should have made this a mandatory book to read for the class. Catering to a specific market is how an entrepreneur succeeds with his or her venture. Customers will always be what makes a business grow. I liked your idea on the exercise you suggested involving team work.