Beware creative destruction
In the May issue of Risk, David Rowe discussed the importance of resisting unnecessary change. This month, he cautions against the tendency to avoid confronting fundamental threats to an organisation's established position
"This process of creative destruction is the essential fact about capitalism... Every piece of business strategy acquires its true significance only against the background of that process... [and] cannot be understood irrespective of it or, in fact, on the hypothesis that there is a perennial lull…"
Joseph Schumpeter in Capitalism, Socialism and Democracy, 1942
While Joseph Schumpeter's predictions about the future course of capitalism have proven to be flawed, his diagnosis of its essential
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