the process of industrial mutation, associated with Joseph Schumpeter, that revolutionizes the economy through new innovations and new businesses disrupting and displacing established ones.
— Project to Product, Mik Kersten
Creative Destruction
2 of our books define this term — and their definitions are worth reading side by side.
The economist Joseph Schumpeter proposed that economic cycles occur as large enterprises introduce innovations that displace what they had offered before, in a continual process of creative destruction. His economic theory was largely based around entrepreneurial activity by large firms. It is interesting in today’s digital economy, in that large enterprises that want to survive disruption by new entrants have to find ways to continually put aside what has worked for them in the past and innovate anew.
— War and Peace and IT: Glossary, Mark Schwartz
See also A/B testing · Age of Software · Business Model disruption · Deployment Period · digital disruption · Discovery-driven planning
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