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Essay / Research Paper Abstract
In 1942 Joseph Schumpeter described what he saw as the “gales of creative destruction”. This 4 page paper discusses what he meant and the way that this destruction can be seen to occur today as well as the way it is likely to impact on businesses in the future. The bibliography cites 5 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEshumpdest.rtf
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Unformatted sample text from the term paper:
would emerge and adapt. Firms have a lifecycle, some will renew, others will fade die as new competitors develop new products and ways of competing using new technology. The innovatiosn
he saw as lead primarily by new firm needing to compete, who will then prosper until they fall to other new firms with new technology. This theory fits in well
with other theories on competition, such as Porters ideas on competitive advantages, the change is the way that they are gained and the speed with which they are lost.
If we consider how this can be seen as a pattern to explain the way business will occur in the twenty-first century there are many supporting cases and arguments. Many
of todays most successful firms are those making use of new technology. Book shops have seen many changes over the years small local bookshops were pushed out by larger more
efficient book shops, in turn these are now suffering with the development and success of Amazon. Some have tried to compete but many have ended up failing, and one, Waterstones,
ended up developing a strategic alliance acting as a referral agent for online sales. A decade ago the phenomenon of Amazon.com was only a pipe dream. However, with its ability
to use technology to create a competitive advantage it is now a dominant internet supplier of many items, not only books Amazon was able to utilise new technology, but
it is only one example that shows how the gale of creativity can destroy businesses. If we look at the high technology business, such as communication and information technology companies
there is a well known patter that sees smaller entrepreneurial companies being the major innovators developing the idea and then other taking market share with the idea or being bought
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