16 August Exploiting Innovative Ideas (...mortality...)

[Paul Terlemezian]

Drucker asserts and I agree that there is no shortage of innovation in the world today. The real problem is the failure for innovation to get implemented and have its desired impact. I don't know how to measure or prove that last statement and I also don't know the trends.

 

I do however hear lots of "frustration" about the lack of innovation or the need for more innovation.

 

Drucker defines four entrepreneurial strategies to increase the likelihood of success. Each is defined here and will be the subject of the next four discussions:

 

1. "Fustest with the Mostest"

2. "Hitting them Where they Ain't"

3.  FInding and occupying a specialized "ecological niche"

4.  Changing the ecomomic characteristics of a product, market or an industry

 

Change is essential with each of these strategies and change is accompanied by vulnerability.

 

It's "safer" to avoid change in hopes of "escaping" vulnerability. How can training organizations embrace change for themselves while mitigating their own vulnerabilities?