Creative Destruction In Entrepreneurship

1064 Words5 Pages
The book that I have read has two parts – social entrepreneurship and social change. It has its concepts and context in real life. There are real life cases and scenarios for the need of social change through entrepreneurship.
CONCEPTS OF SOCIAL ENTREPRENUERSHIP
Creative Destruction. This idea is simply destroying old ideas to create a new and more innovative one. In a liberated sense, it is the meaning that when there is entrepreneurship, there should be a social change that will happen. The book explained creative destruction is similar to the theory of entrepreneurship. Another terminology that is similar to it is the industrial mutation where opening up new business has its own development within the organization. Creative destruction comes in where the economic structure of new business became incessantly destroying the old one (business model), incessantly creating a new one. Incessantly is synonymous to constant, meaning that change (old to new) is constant. Creative destruction is a type of change wherein that kind of change is self – adaptation of the organization – change from within the economic sphere. Economic Sphere is consists of the production, consumption and assumption of consumers. The book has also mentioned “the perennial gale of creative destruction” that can be found in the context of capitalism. Capitalism is perennial in a sense that it is long and infinite and a continuous economic change and never be a stable one. The argument that “the perennial
Open Document