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This is part five of an audio recording of a class on entrepreneurship and innovation taught by Peter Drucker. In this section he focuses most of his discussion on innovation. Drucker states that it is very important to have both management and innovation. It is commonly believed that entrepreneurship just means starting a new business, but few new businesses are innovative. A big challenge for the future is to make existing institutions capable of effective innovation. The size of an organization doesn’t necessarily dictate how innovative they can be. Drucker uses specific examples of innovation such as the building of a railroad between Vienna and Paris, fax machines, and the origins of W.R. Grace & Co.
Drucker, Peter F. (Peter Ferdinand), 1909-2005 Sales Sales personnel Hospitals Women Administration Nurses Quality control Pasadena (Calif.) Church Endowments Master of business administration degree Entrepreneurship Citibank (New York, N.Y.) Johnson & Johnson E.I. du Pont de Nemours & Company Philosophers Judaism Engineering Education Military Napoleon I, Emperor of the French, 1769-1821 Universities and colleges Japan Technology Business Management World War I Railroads Austria France Opera London (England) Dickens, Charles, 1812-1870 Fax machines Spain Germany Life insurance World War II W.R. Grace & Co Sloan, Alfred P. (Alfred Pritchard), 1875-1966 Engels, Friedrich, 1820-1895 Innovation
MiniDisc: P.D. INE 1/27/90 part 5; 1/27/90; Box 89, minidiscs and floppies