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Innovation and Entrepreneurship by Mind Map: Innovation and Entrepreneurship
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Innovation and Entrepreneurship

Practice of Innovation

Systematic Entrepreneurship

Purposeful Innovation

7 Sources of Innovative Opportunity

The Unexpected, Unexpected Success, Unexpected Failure, Unexpected Outside Event

Incongruities, Incongruous Economic Realities, Incongruities between Reality and Assumptions about it, Incongruities between Perceived and Actual Customer Values and Expectations, Incongruity Within the Rhythm or Logic of a Process

Process Need, The Automobile story, The opportunity, When Industry Structure Changes

Industry and Market Structures


Changes in Perception, Meaning, and Mood, "The glass is Half-full", The problem of Timing

New Knowledge, The characteristics of Knowledge-based Innovation, Convergences, What Knowledge-based innovation requires, The unique Risks, The Shakeout, The Receptivity gamble

The Bright Idea

Principles of Innovation

DO's, Systematic search/analysis, Innovation is both conceptual and perceptual: go out to look, ask, and listen, Innovation has to be simple and focused, Effective innovation starts small, Successful innovation aims at leadership

DONT's, Don't try to be clever!, Don't try to do too many things at once!, Don't try to innovate for the future! Innovate for the present.

3 Conditions, Innovation is work, Innovators must build on their strengths, Innovation has to be market-driven: it is an effect in economy and society, a change in people's behavior or in a process

The Conservative Innovator

Practice of Entrepreneurship

Entrepreneurial Management

Entrepreneurial Business

Entrepreneurial Policies

Entrepreneurial Practices

Measuring Innovative Performance



DON'T's, Don't mix managerial and entrepreneurial units, Don't take existing business out of its own field (into innovative efforts), Avoid making one's own business entrepreneurial by "buying in" (acquiring small entrepreneurial ventures)

Entrepreneurship in the Service Institution

Challenges, Public-service institutions are based on a "budget" rather than being paid out of its results, A service institution is dependent on a multitude of constituents, Public-institutions exist after all to "do good" (they tend to see their mission as a moral absolute, rather than as economic and subject to cost/benefit calculus)

Entrepreneurial Policies, Clear definition of its Mission, Realistic statement of Goals, Clearly defined Objectives, used as measure of its performance, Built into Policies and Practices the constant search for Innovative Opportunity

The Need to Innovate

New Venture

needs to Focus on the Market

needs Financial Foresight (especially Cash Flow and Capital Needs)

needs to build a top Management Team long before the venture actually needs and affords one

needs a decision from the founding entrepreneur on role, area of work, and relationships, the Need for Outside Advice

Entrepreneurial Strategies

Being "Fustest with the Mostest"

"Hitting them where they ain't"

Creative Imitation

Entrepreneurial Judo

Finding and occupying a specialized Ecological Niche

the Toll-gate strategy

the Specialty Skill strategy

the Specialty Market strategy

Changing the economic characteristic of a Product, Market, or Industry

by Creating Utility

by Pricing

by Adaptation to Customer's Social and Economic Reality

by Delivering what represents True Value to the Customer

Entrepreneurial Society

What will not work

Social innovation Needed

Take care of Redundant Workers

Organize systematic abandonment of outworn social policies and obsolete public-service institutions

New Tasks

The Individual in the Entrepreneurial Society