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The Practice of Innovation

Simply understanding the source of innovative opportunities is not enough. People must understand the principles of innovation and how to use new ideas successfully. The principles include several do’s and don’ts. The do’s include:

*Thinking through the sources of innovation.

*Going out to observe, seek, and listen to the trends of public opinion.

*Producing innovations that are clear and simple.

*Starting small.

*Aiming toward leadership. If innovations do not aim at leadership from the beginning, they will unlikely be innovative or capable enough to establish themselves in the market.

The don’ts of innovation include:

*Trying too hard to be clever.

*Being unusable without necessary training.

*Diversifying into too many things at once.

*Innovating for the future. Unless there is an immediate application of a product or system, it is unlikely to be successful.

The last piece of advice Drucker offers on the subject of learning the skill of innovation is the importance of three conditions:

  1. Innovation requires work, ingenuity, focus, and talent to be successful.

  2. To succeed, innovators must build on their strengths.

  3. Innovation must be focused on and driven by the market.

By combining these principles and sources of opportunity, everyone can be innovative leaders in their industries, despite whether they are private or public.

PRISM
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