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.
More from Peter Drucker
All quotes βIn the Western tradition, we have focused on teaching as a skill and forgotten what Socrates knew: teaching is a gift, learning is a skill.
Peter DruckerRead
We now accept the fact that learning is a lifelong process of keeping abreast of change. And the most pressing task is to teach people how to learn.
Peter DruckerRead
The basic economic resource - the means of production -_x000D_ _x000D_ is no longer capital, nor natural resources, nor labor._x000D_ _x000D_ It is and will be knowledge.
Peter DruckerRead
Unless commitment is made, there are only promises and hopes... but no plans.
Peter DruckerRead
The strength of the computer lies in its being a logic machine. It does precisely what it is programed to do. This makes it fast and precise. It also makes it a total moron; for logic is essentially stupid.
Peter DruckerRead
Similar quotes
I think frugality drives innovation, just like other constraints do. One of the only ways to get out of a tight box is to invent your way out.
Jeff BezosRead
I just invent, then wait until man comes around to needing what I've invented.
R. Buckminster FullerRead
Competition is one of the most important drivers of innovation because you have to stay in the race. You have to think of something new, and if you don't, well, of course you should leave the market.
Margrethe VestagerRead
Innovation is not born from the dream, innovation is born from the struggle
Simon SinekRead
Predicting innovation is something of a self-canceling exercise: the most probable innovations are probably the least innovative.
P. J. O'RourkeRead
Optimism is an essential ingredient of innovation. How else can the individual welcome change over security, adventure over staying in safe places?
Robert NoyceRead