Drucker According to peter drucker (1970), entrepreneurship deals with risk taking.

The behavior of the entrepreneur is reflective the type of individual prepared to stake his or her financial security as well as career in the name of an idea, and spend a lot of capital and time on uncertain venture. Uncertainties have been classified by drucker as follows. Risk that can be statistically measured (e.g., the probability that a blue pen will be drawn from a box which contains five blue and five black pens) Ambiguity or that which cannot be easily measured in statistical terms True uncertainty or knightian uncertainty, which cannot be estimated or statistically predicted Drucker has also aptly observed that innovation is the specific tool of entrepreneurs the means by which they exploit change as an opportunity for different business or a different service. It is a capable of being presented as a discipline, capable of being learned and practiced. Entrepreneurs need to search purposefully for the source of innovation the changes and their symptoms that indicate opportunities for successful innovation. And they need to know and to apply the principles of successful innovation.

Systematic innovation according to him has to do with searching for changes in an organized and purposeful manner and systematically analyzing the opportunities offered by such changes in terms of social and economic innovation. This turn leads to economic development.

According to Drucker three conditions have to be fulfilled for an innovation to be successful. This are:

1. Innovation at work. It requires knowledge and ingenuity.it make great demands on diligence, persistence and commitment 2. Innovators need to build on their own strength in order to succeed 3. It is necessary for innovation to be close the market, focused on the market and indeed market-driven.

Specifically systematic innovation refers to 6sources being monitored for innovative opportunities. Of these, the first three are contained within the enterprise itself ,be it the service sector, an industry, a public service institution or a business enterprise. They are there for visible primarily with people with in that industry. These source are basically symptoms. Nevertheless they prove to be very reliable in indicating the alteration that have taken place to take place without too much effort. These source areas are as follows:

1. Market structure innovation that is likely to catch the other unawares. 2. The incongruity between actual and assumed reality. 3. The unexpected- unexpected outside events and unexpected success and failures. 4. The second set of three sources for innovative opportunity has to do with alteration that are external to the industry:

New knowledge, both non scientific and scientific Shift in meaning, mood and perception Demographics