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Victoria Arruda

Dr. Cutter

GEB-2112

04/13/2020

7 Lessons From “Innovation and Entrepreneurship” By Peter F. Drucker: Article Response.

In the article titled, “Innovation and Entrepreneurship” we learn different important

lessons that famous businessman and writer Peter F. Drucker taught in one of his books. This

brief summary includes many lessons that every entrepreneur should adopt and practice in order

to be successful. By reading this article I picked three takeaways that I thought were more

impactful, those being, seek outside advice, seven sources for innovative opportunity, innovation

is a gradual process, and it involves constant learning and adaptation

The first takeaway seek outside advice teaches something that can be difficult for most

people to apply it. This lesson talks about business asking for advice and opinions from people

outside of the business. The author considers this as an investment that can bring great results. I

believe this is an important lesson because it’s something most business people would never

consider. Asking advice to different individuals outside of business doesn’t seem too worthy.

Entrepreneurs usually only follow their ideas and are not open to hearing about ideas of others,

especially those unrelated to their business. This lesson shows that business men should be open

to advice especially from outside of their business. I believe in this idea o openness and giving

credit to others.

The second takeaway is in the seven sources for innovative opportunity, more precisely

the category called the unexpected. I believe this word unexpected is a synonym of

entrepreneurship. The author talks about being able to keep going., even though there are new
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patters to your business. The takeaway for me here was, as an entrepreneur be able to work

around obstacles and changes that show up. Not being afraid of those changes and to recognize

when you make a mistake and being able to adapt to those changes. The unexpected contains all

those factors, and an entrepreneur must be comfortable with the unexpected in order to succeed

and innovate.

The last takeaway from the article in the lesson called, innovation is a gradual process,

and it involves constant learning and adaptation. This lesson talks about taking baby steps when

it comes to innovation. This secret of going slowly towards your goal will allow you to have a

larger impact later on. I consider this a takeaway because it helps entrepreneurs understand the

best way to innovate. Most people when they come up with a new innovation they want to

implement as fast as they can which is a mistake according to the author. By gradually applying

and working with this innovation more impact it will have. This is an big lesson since most

entrepreneurs want to innovate.

In all, this article teaches valuable lessons every entrepreneur should implement in their

business life. I selected three of the biggest takeaways I believe people should be aware of. Some

of them surprised me since I didn’t know about the right conduct to succeed in certain situations,

but all lessons are important and impact an entrepreneurs life.