creative destruction

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Creative Destruction

A concept in capitalist theory stating that innovation causes failure, but that failure, in turn, creates more innovation. For example, suppose someone invents a better widget. If he/she markets this widget effectively, he/she will eventually drive all previous widget manufacturers out of business. However, this forces older widget manufacturers to create their own innovations that will either keep themselves in business or improve their financial situations in other ways. This is considered one of the most important concepts in capitalism.

creative destruction

see SCHUMPETER.
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These factors and the technology gap are interrelated.
Narrowing the technology gap will not be easy, as INDEX go pointed out.
The results of the Technology Gap Survey suggest a real wake-up call for today's senior management - the Boomer generation," said Mike Walsh, CEO of LexisNexis U.
Through our Closing the Technology Gap awards competition, we want to shine the spotlight on the educators who understand the importance of science, math, engineering and technology.
Meanwhile, several efforts are under way that will increase access to technology - some of them targeted specifically at Latinos, some of them more generalized efforts that will help all groups to bridge the technology gap.
Tuckett is considered an opinion leader in the industry and was invited to the summit to discuss with leaders of government, business, community groups and civil rights organizations the issues and challenges which must be addressed in order to close the technology gap.
The CAIA report takes the view that, "biotechnology will be the pillar industry of the 21st century," so, if the technology gap on certain traditional instruments has widened too far for China to catch up, "then it is in biochemical separations and analysis that Chinese manufacturers have an opportunity of becoming world class suppliers.
Despite this technology gap, almost 60 percent of respondents rank improving the accuracy of cash flow forecasting as their number one risk management goal, and Aberdeen predicts a sharp uptake in the implementation of treasury and cash management solutions in the next two years.
consumer appetite for future adoption of advanced service features suggests that the mobile technology gap will close in the years ahead," said Harald Braun, president, Networks Division, Siemens Communications Inc.
This places OIC in a perfect position to bridge the technology gap, bringing the best possible global resources to the doorsteps of regional countries.
If a technology gap does exist, Evergreen provides independent guidance and options to best address it.

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