Creative destruction and economic growth - 2
{"Image DocumentName": "Creative destruction and economic growth - 2", "Image ImageDescription": "Creative destruction implies that the isolating mechanisms that protect a firm\u2019s competitive advantage will not be permanent. The life expectancy of a competitive advantage shrinks as technology and tastes change rapidly. During the period of quiet firms that posses superior products and technology earn economic profits. Entrepreneurs who exploit the opportunities created by the shocks enjoy economic profits during the next period of quiet. Firms are said to enter a state of hypercompetition state when competitive advantages can only be sustained for very short periods. According to Richard D\u2019Aveni, several industries are in this state and firms in these industries can sustain their economic profits only by continually seeking new sources of competitive advantage. Krsto Pandza - Technology Management.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}