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Innovation and Entrepreneurship

Book by Peter Drucker · 30 quotes · Innovation, Opportunity, Entrepreneur

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Innovation and Entrepreneurship Quotes

“Innovation is the specific tool of entrepreneurs, the means by which they exploit change as an opportunity for a different business or a different service. It is capable of being presented as a discipline, capable of being learned, capable of being practiced. Entrepreneurs need to search purposefully for the sources of innovation, the changes and their symptoms that indicate opportunities for successful innovation. And they need to know and to apply the principles of successful innovation.”

“Quality in a product or service is not what the supplier puts in. It is what the customer gets out and is willing to pay for. A product is not quality because it is hard to make and costs a lot of money, as manufacturers typically believe. This is incompetence. Customers pay only for what is of use to them and gives them value. Nothing else constitutes quality.”

“The entrepreneur always searches for change, responds to it, and exploits it as an opportunity.”

“Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.”