Creative Destruction
From CasGroup
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:"The fundamental impulse that sets and keeps the capitalist engine in motion comes from the new consumers' goods, the new methods of production or transportation, the new markets, the new forms of industrial organisation that capitalist enterprise creates ... [This is a] process of industrial mutation – if I may use that biological term – that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one. This process of Creative Destruction is the essential fact about capitalism" | :"The fundamental impulse that sets and keeps the capitalist engine in motion comes from the new consumers' goods, the new methods of production or transportation, the new markets, the new forms of industrial organisation that capitalist enterprise creates ... [This is a] process of industrial mutation – if I may use that biological term – that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one. This process of Creative Destruction is the essential fact about capitalism" | ||
| - | In the economy this process of industrial transformation which accompanies radical innovation is usually triggered by small companies and individual entrepreneurs. | + | In the economy this process of industrial transformation which accompanies radical innovation is usually triggered by small companies and individual entrepreneurs. Often the small businesses go ahead with creative ideas and disruptive innovations, while the large companies cling to their old products and strategies. Innovation is more difficult for large organizations characterized by huge bureaucracy. |
== Links == | == Links == | ||
