According to Peter Drucker, the means by which the entrepreneur either creates new wealth-producing resources or endows existing resources with enhanced potential for creating wealth is
A) creativity.
B) innovation.
C) capital spending.
D) collaborating with competitors.

Question

Quizplus · Accepted Answer

According to Peter Drucker, innovation is the means by which entrepreneurs create new wealth-producing resources or enhance existing resources with the potential for creating wealth. Innovation involves finding new solutions or ways of doing things that create value for customers and society as a whole. While creativity is important for generating new ideas, it is the application of those ideas through innovation that drives the creation of wealth. Capital spending and collaborating with competitors are important strategies for businesses, but they do not define the means by which entrepreneurs create new wealth.

According to Peter Drucker, the Means by Which the Entrepreneur