"Opportunity focused"
"Are you a risk taker?"
I am told an innovator would always respond "no".
As ever the answer is about perception. If your company defends its market using strategies that were defined some years ago then is it taking a risk? How well do your strategies hold up in today's or even tomorrows market place?
Surely a better approach is to define what risks you face and confine them.
This could be part of a systematic approach of exploring potential innovations, pinpoint the opportunity and exploit it.
Innovators are therefore more focused on their opportunities, becoming "opportunity focused", future orientated, and aware of what is in front of them.
ref: Drucker - Innovation and entrepreneurship
I am told an innovator would always respond "no".
As ever the answer is about perception. If your company defends its market using strategies that were defined some years ago then is it taking a risk? How well do your strategies hold up in today's or even tomorrows market place?
Surely a better approach is to define what risks you face and confine them.
This could be part of a systematic approach of exploring potential innovations, pinpoint the opportunity and exploit it.
Innovators are therefore more focused on their opportunities, becoming "opportunity focused", future orientated, and aware of what is in front of them.
ref: Drucker - Innovation and entrepreneurship
1 Comments:
Hi
I believe the best entreprenuers take only very calculated risks. They understand their market so well that it is almost a forgone conclusion that whatever the venture it will succeed.
As an observer and on a couple of occasions a participant I have been involved in innovation. In all cases the innovation related to looking at established models and tweaking them slightly to create new ways of doing business. Either, quicker, more convenient, or reducing costs. (Although not cheaper for the end user).
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