Drucker's seven sources of innovation

Jeffrey Muldoon and Douglass Smith

Chapter 8 in Elgar Encyclopedia of Innovation Management, 2025, pp 27-30 from Edward Elgar Publishing

Abstract: The management guru and scholar, Peter Drucker, developed the seven sources of innovation, which first appeared in his book, Innovation and Entrepreneurship. Based on his discussions with managers for over 30 years, Drucker discovered how the seven sources allowed for the creation of new products. The seven sources are the unexpected success or failure, the incongruity, process need, changes in industry, demographics, perception, and new knowledge. Their importance is they are the means through which entrepreneurs (either individuals or organizations) create new products and services. This entry will include a discussion of the seven sources, with examples, and how business leaders have utilized them to launch new initiatives.

Keywords: Innovation; Entrepreneurship; Creative destruction; Technology; Attitudes; Peter Drucker (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035306442
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