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Seek opportunities for innovation

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in Leaders & Managers,Management Training

Innovation is firmly back in fashion these days, in part because it’s just cyclical and in part because business thinker and author Peter Drucker, who died in 2005, expounded on it years ago.

Here is Drucker’s assessment of where you can find opportunities for innovation:

The four areas within a company or industry are: (1) unexpected occurrences, (2) incongruities, (3) process needs and (4) industry and market changes.

Three other targets of opportunity lie outside organizations in the social and intellectual atmosphere: (1) demographic changes, (2) changes in perception and (3) new knowledge.

You’ll find only a handful of situations but plenty of examples. Go for it!

—Adapted from On the Profession of Management, Peter Drucker, Harvard Business School Publishing.

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