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Innovation and Efficiency in Industry Evolution

In: Dynamics of Entry and Market Evolution

Author

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  • Jati Sengupta

    (University of California)

Abstract

In modern times the evolution of high-tech industries has been profoundly affected by innovations in different forms, for example new product designs, new software applications and new organizational forms. Schumpeter stressed two key elements as sources of evolutionary growth: new innovations in technology through the process of creative destruction and the access efficiency which involves racing up the escalation ladder in the stronghold arena. By building barriers under a stronghold, the firms reap monopoly profits as a first mover, and these profits can be used to fund aggressive price strategies and R&D investments.

Suggested Citation

  • Jati Sengupta, 2007. "Innovation and Efficiency in Industry Evolution," Palgrave Macmillan Books, in: Dynamics of Entry and Market Evolution, chapter 2, pages 24-49, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-21101-8_2
    DOI: 10.1057/9780230211018_2
    as

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