Assignment 27A - Reading Reflection No. 3

Assignment 27A

Innovation and Entrepreneurship by Peter Drucker

1)       What was the general theme or argument of the book?

Drucker’s main argument revolves around innovation and entrepreneurship as something that must be honed-in upon and practiced, as a disciplined entrepreneur who understands the balance between taking financial risks and fiscal responsibility and can combine that skill with managerial traits that lead to group cohesion garner successful legacies.

2)       How did the book, in your opinion, connect with and enhance what you are learning in ENT 3003?

While this class has shown the foundation of business practices and explained most in slight detail, my mind expanded with possibility when it comes to each of those practices with the detail that Drucker goes into throughout the book. As one of the major philosophical pillars of modern business practice, Drucker explains markets, business growth and opportunity in ways that involve collaboration and management techniques that connect to the general public and go far beyond the weekly teachings of ENT3003.

3)       If you had to design an exercise for this class, based on the book you read, what would that exercise involve?

The exercise would most likely be a multi-step project, in which students would have to pick a specific industry, and after selecting that industry, would have to create a thought-out business plan and select which managerial skills would best be used in that situation to help sustain success. The reason I would design this project is that this is almost identical to Drucker’s psychology regarding the growth of successful businesses.

4)       What was your biggest surprise or 'aha' moment when reading the book? In other words, what did you learn that differed most from your expectations?

I was most surprised when Drucker broke down how changing the financial aspect of a product or service can be a way to change the outside perception without making many physical alterations. Whether it be the cost structure or business plan itself, enhancing the view of the outside public that previously rejected a product can be a way to change the fortune of the entire business. I was previously unaware of this tactic and would often believe that a full makeover of a product/business would have to take place to achieve the most success in the future.