Lesson 4: History of Innovation and Entrepreneurship in a Global Economy

Lesson 4: History of Innovation and Entrepreneurship in a Global Economy

When Peter Drucker wrote about innovation and entrepreneurship in the mid 1980’s (Innovation and Entrepreneurship Principles and Practices, 1985), America employed 10 million more people than had been predicted, and its dynamic economy was headed toward a primarily entrepreneurially inspired, innovative business culture. There was an abundance of young risk takers who were willing to endure the ruthlessly long hours required by entrepreneurial opportunities, especially because of the potential success they offered. At the same time, big business dominated the corporate world and benefitted from a highly loyal workforce.

 

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