From scholarship to action and innovation

In his seminal book, Innovation and Entrepreneurship, Drucker (1985) argued that the only way to sustain business enterprise and wholesale economic benefit to society was to base innovation and entrepreneurship on systematic management principles. Drucker traced the principles of innovation to the 1920s when managers began to talk about ‘new management’ and where collective experiences of managers began to add useful knowledge to the management discourse. New management developed as a practical occupation before coming to be recognized as a discipline in its own right in the 1950s.