The work of the entrepreneur is to innovate and to successfully manage innovation.
—Joseph Maciariello, “Foreward to the Routledge Classics Edition,”
Peter Drucker’s Innovation and Entrepreneurship
Both innovation and entrepreneurship are widely touted as essential components of business and economic growth, as reflected in the epigraph. Discussion of the topics is almost unavoidable in business and government circles. Because growth in entrepreneurship and increased innovation are goals pursued simultaneously, a better understanding of the relationship between innovation and entrepreneurship has widespread practical implications for business. However, professionals and researchers from every facet of business continue to disagree on the precise definitions of both concepts, much less the relationship between them. Researchers also debate the overall impact of entrepreneurship and innovation and the factors that promote them.
Nonetheless, as more professionals engage in this debate, the academic and professional business communities gain valuable insights into this important relationship. These insights have implications not only for business and society as a whole but also for individual global change agent professionals who make decisions on an everyday basis.
To prepare for this Discussion, review this week’s Learning Resources and consider your personal and professional experiences with innovation and entrepreneurship.
By Day 3
Post an analysis of the relationship between global entrepreneurship and innovation within organizations. Your analysis should include the following:
- The implications of this relationship for individuals and global change agents within organizations
- Specifics about how this relationship affects your own approach as a global change agent to risk taking and the way your personal strengths may or may not reflect the relationship between global innovation and entrepreneurship
Be sure to support your work with a minimum of two specific citations from this week’s Learning Resources and one or more additional scholarly sources.
Ekore, J. O., & Okekeocha, O. C. (2012). Fear of entrepreneurship among university graduates: A psychological analysis. International Journal of Management, 29(2), 515–524.
Griffin, A., Price, R. L., & Vojak, B. A. (2012). Serial innovators. Research Technology Management, 55(6), 42–48. doi:10.5437/08956308X5506899
Hunter, M. (2012). On some of the misconceptions about entrepreneurship. Economics, Management, and Financial Markets, 7(2), 55–104.
Piva, E., Rentocchini, F., & Rossi-Lamastra, C. (2012). Is open source software about innovation? Collaborations with the open source community and innovation performance of software entrepreneurial ventures. Journal of Small Business Management, 50(2), 340–364. doi:10.1111/j.1540-627X.2012.00356.x