DARPA’s Role in Radical Innovation

F. L. Fernandez

In a recent Forbes magazine article, Peter Drucker1 reviewed the business world and concluded that major, previously held “truths of management” will need to be abandoned if institutions are to survive and grow. Arguing that institutions are most affected by externally generated forces and not their own knowledge base, Drucker notes that to survive, institutions must adopt an entrepreneurial attitude and essentially pursue the “organized abandonment of products and markets” that are no longer optimal allocations of resources. Institutions must realize that entrepreneurialism and management are merely two different parts of the same task. The entrepreneur who cannot manage will not last long, nor will the manager who cannot innovate.