Here is a some key points from a chapter in The Essential Drucker by Peter Drucker.
Institutions, systems, policies eventually outlive themselves. They do it when they accomplish their objectives and they do it when they fail to accomplish their objectives. The mechanisms may still tick. But the assumptions on which they were designed have become invalid.
Theories, values and all the artifacts of human minds and human hands do age and rigidify, becoming obsolete, becoming afflictions.
Innovation and entrepreneurship are needed in society, in the economy, in public service institutions, and in businesses.
They are not planned but focused on this opportunity or that need. They are tentative and will disapper if they do not produce the expected and needed results. They are pragmatic rather than dogmatic, modest rather than grandoise.
They promise to keep any society, economy, industry, public service or business flexible and self-renewing.
Planning is incompatible with an entrepreneurial society and economy. Innovation has to be decentralised, ad hoc, autonomous, specific and microeconomic. It has to start small, tentative, flexible.
The opportunity for innovation has to be found way down and close to events.
Conclusion: Innovation is needed to keep a society relevant. Planning is incompatible with an entrepreneurial society.
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05/13 - 05/20
- MiniBond Series
- Yields on money market fund
- Difference between personal and group plan
- Yield on life insurance policies
- Contribute to my blog
- A versatile two letter word
- Avoid triple insurance
- Selecting a good whole life plan
- Modest cost of land in America
- High monthly subscription to golf clubs
- Discount for seniors in USA
- My stay in Deseret
- Bushes and Clintons
- A country house
- The tulip bubble
- Higher interest on Money Market Fund
- Anticipation policy
- Start Maths at five months
- Creative message
- Subway system in Philadelphia
- Poor return on a whole life policy
- Next "Core Fund" of Vanguard
- A restricted blog for a traveller
- Restricted Blog for networking
- How to select the Vanguard ETFs
- Penn's Landing
- Visit to Vanguard Mutual Fund Group
- Raising a baby
- Whole life a cash payment every 5 years
- Advice on real life issues
- The coming of the entrepreneurial society
- Congestion on the Central Expressway
- Promotional rates for bank deposits
- Use Skype and SkypeOut
- Blog - keep in touch
- Transport Operators make good profits
- Historic district in Philadelphia
- Make an interesting blog
- Mr Tan, your blog is boring
- Visiting Vanguard on May 14
- Try to negotiate a fair settlement
- Invest in a life annuity?
- Interview: My blogging experience
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