What is Entrepreneurship?
Destructive innovation, Female entrepreneurship, and Rocky.
In the late sixties, Peter Drucker foresaw the “age of discontinuity”, predicting the onset of constant change. In 1997 Beckhard and Harris presented a formula to establish the probability of change. Here’s the formula:
= (Dissatisfaction) x (Vision) x (First Step) > Resistance
This is a simple metric tool is used to derive the likelihood of change, innovation or an appetite to create a Startup.
The importance of a Vision is evident, deemed to be a crucial element in the process, implying that in its absence change is unlikely to occur. Dissatisfaction, however, is the element that truly captures the essence of Entrepreneurship.
Derek Abell wrote about the existence of this ingredient, Dissatisfaction, in his article entitled Strategic Windows, highlighting the importance of timing strategies (Abell, 1978). Abell proposed that individuals must employ a flexible approach to adapt in a constantly changing environment, to identify and exploit new opportunities — by Bootstrapping!
