Potential Sources of Innovation

Peter Drucker, one of the best management thinkers, said that innovation rarely comes from inspiration, but instead from analyzing potential sources of innovation such as:

  • Unexpected outcome - simply discover what you can learn from failure
  • Incongruities - examine the differences between assumptions and reality
  • Process needs - look to apply an existing process solution to a different problem
  • Market changes - industries shift in how they conduct business, be on the look-out for new trends. If a competitor is growing at a significantly higher rate than an industry overall, then new market conditions are emerging.
 Read the article relating to Innovation Business Models.

Quote of the day

The man who does not work for the love of work but only for money is not likely to make money nor find much fun in life.
Charles Schwab (entrepreneur).




Imagine career success and a balanced lifestyle. This blog is dedicated to the people in a business-related field who are willing to make an investment of their time and minds to on-going personal and career development. How?

1) Start here to find weekly postings to stay informed of the most significant business news with a brief analysis.

2) Learn additional how-to skills complementary to what is taught in business school, experienced on the job, or received in job training. Written by practicing business professionals to support your life-long learning.

3) Get connected with some of the best potential employers and share critical information with each other that gives you an edge in a career search.

4) Learn from the best business leaders by reviewing summaries of their management experiences and lessons.

5) Think in terms of the big picture and imagine the macro technology innovations, management and economic trends.

6) Find a few business opportunities to gain experience to improve your skills for the first or next job.
Innovation Business Models
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Innovation Business Models
Beijing and the Forbidden City




Innovation Business Models
Amsterdam

Creative Destruction

Creative destruction is an economic concept essentially saying that industries come and go over time due to the evolutionary process of new technologies displacing old technologies. For example, Smart Phones with advanced computing features are displacing some key functions and uses of the Personal Computer, which displaced some key functions and uses of the Mainframe computer. What is the role of technology and innovation in the economic system? Read the article

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