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Sustainable Innovation (Creative Destruction)

Sustainable Innovation (Creative Destruction). Professor Ray Amtmann. Joseph Schumpeter 1934. Defined Creative Destruction

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Sustainable Innovation (Creative Destruction)

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  1. Sustainable Innovation (Creative Destruction) Professor Ray Amtmann

  2. Joseph Schumpeter 1934 • Defined Creative Destruction • INNOVATION by the entrepreneur, argued Schumpeter, leads to gales of “CREATIVE DESTRUCTION” as innovations cause old inventories, ideas, technologies, skills, and equipment to become obsolete.

  3. Entrepreneurs Create • They use • New technology • New opportunity • New Markets • Which often supplants older established businesses and products

  4. Sustainability Defined • The innovative and potentially transformative corporate activities that generate new products and processes that challenge existing practice.

  5. Sustainability • Innovation • Environmental Management • Sustainability • Exploit market inefficiency and create future products • Can happen in new businesses as well as existing businesses • Three views to motivating technology innovation and the environment • Public Policy / Regulation • Voluntary Standards • Resource based considerations

  6. Many reasons for motivations toward environmental actions • Environmental Regulation • Customer Demand • Supply Chain Demand • Worker Protection • Personal Desires

  7. Works Cited • Library of Economics and Liberty , http://www.econlib.org/library/Enc/bios/Schumpeter.html , recovered 9 June 2009 • Larson, Andrea. Sustainable Innovation through an Entrepreneurship Lens, Business Strategy and the Environment 9, 304-317, 2000

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