The purpose of an organization is to enable ordinary humans beings to do extraordinary things.
Peter DruckerRead
Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.
Interpretation
What this quote means
Innovation is essential for entrepreneurship and creates new opportunities for generating wealth.
In this quote, Peter Drucker emphasizes the critical role of innovation in entrepreneurship. He suggests that innovation not only transforms resources but also enhances their ability to generate wealth, highlighting how creative thinking and new approaches are fundamental to establishing successful business ventures.
Themes
InnovationEntrepreneurshipWealthResourcesChange
In practice
Example use cases
In a business seminar, to illustrate the importance of creativity in growing a startup.
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Similar quotes
Most innovation is not done by research institutes and national laboratories. It comes from manufacturing - from companies that want to extend their product reach, improve their costs, increase their returns. What's very important is in-house research.
Vaclav SmilRead
Sometimes when you innovate, you make mistakes. It is best to admit them quickly, and get on with improving your other innovations.
Steve JobsRead
The company's most urgent task is to learn to welcome, beg for, demand - innovation from everyone.
Tom PetersRead
I believe innovation is the most powerful force for change in the world. People who are pessimistic about the future tend to extrapolate from the present in a straight line. But innovation fundamentally shifts the trajectory of development.
Bill GatesRead
My definition of 'innovative' is providing value to the customer.
Mary BarraRead
Because, you know, resilience - if you think of it in terms of the Gold Rush, then you'd be pretty depressed right now because the last nugget of gold would be gone. But the good thing is, with innovation, there isn't a last nugget. Every new thing creates two new questions and two new opportunities.
Jeff BezosRead