Creative Destruction: Business Survival Strategies in the Global Internet Economy
Books / Hardcover
Books › Business & Economics › Forecasting
ISBN: 026213389X / Publisher: The MIT Press, March 2001
Schumpeter's framework of creative destruction applied to the rapidly changing telecommunications and related Internet industries.
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More than fifty years ago, Joseph Schumpeter stated that processes intrinsic to acapitalist society produce a "creative destruction," whereby innovations destroy obsoletetechnologies, only to be assaulted in turn by newer and more efficient rivals. This book askswhether the current chaotic state of the telecommunications and related Internet industries isevidence of creative destruction, or simply a result of firms, governments, and others wastingvaluable resources with limited benefits to society as a whole. In telecommunications, for example,wireless, IP, and cable-based technologies are all fighting for a share of the market currentlydominated by older, circuit-switched, copper-terminated networks. This process is accompanied bymergers, acquisitions, bankruptcies, and investment and divestment in worldwide markets.Theselections discuss the primary challenge facing firms, governments, and other players: how toexploit the opportunities created by such destructive dynamics. They highlight the importance ofnational regulations promoting competition and nonmonopolistic market structures, as well as therole of new technologies such as the Internet in driving down the price and speeding the diffusionof innovative products and services in telecommunications, media, electronic retailing, and other"new economy" industries.
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