Chapter 2

Foundation for the Entrepreneurial Model

Plans are only good intentions unless they immediately degenerate into hard work.

—Peter F. Drucker

The environment of the 21st century is about innovation and change. The focus of strategic management is to adapt to change and more importantly it is about initiating change. At one time General Motors (GM) was the largest corporation in the world and it failed because it did not recognize this very simple dictum. Firstly, they did not listen to the customer, the source for much change. In 1970 U.S. auto manufacturers owned 87% of the American light trucks and car market and by 2005, their market share had fallen to 57%. They had lost almost one third of their market to foreign competitors and ...

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