Thought-provoking article on TechCrunch about innovation and entrepreneurship here.
Peter Drucker's quote is most compelling:
“Not every new small business is entrepreneurial or represents entrepreneurship… entrepreneurs innovate. Innovation is the specific instrument of entrepreneurship.”
The debate hinges on whether entrepreneurship must be based on innovation or not.
My take is that it's not mandatory to start a business on an innovative idea or concept, franchises are proof of point, but the key is that innovation is essential to differentiating the company or idea in the marketplace. This can be done by product or service, processes or operational methods.
What are your thoughts?
Tim Andren is the founder of Guideas, Inc. an innovation and marketing company.
