Creative Destruction, Technology Disruption and Growth

Clarke, T

Creative Destruction, Technology Disruption and Growth

Clarke, T

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Publisher:: Oxford University Press
Publication Type:: Chapter
Citation:: OXFORD RESEARCH ENCYCLOPEDIA OF ECONOMICS AND FINANCE, 2019, pp. ? - ? (26)
Issue Date:: 2019-05-31

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Field	Value	Language
dc.contributor.author	Clarke, T https://orcid.org/0000-0002-9719-9647	en_US
dc.contributor.editor	Hamilton, J	en_US
dc.contributor.editor	Dixit, A	en_US
dc.contributor.editor	Edwards, S	en_US
dc.contributor.editor	Judd, K	en_US
dc.date.available	2021-08-12T19:01:10Z
dc.date.issued	2019-05-31	en_US
dc.identifier.citation	OXFORD RESEARCH ENCYCLOPEDIA OF ECONOMICS AND FINANCE, 2019, pp. ? - ? (26)	en_US
dc.identifier.uri	http://hdl.handle.net/10453/129930
dc.description.abstract	This article aims to examine the origins of modern technological change, to investigate the impact of the new digital technologies, and to explore the phenomenon of digital disruption of established industries and occupations. How these technologies will transform industries and institutions, or serve to create new industries and institutions, will unfold in time. The implications of the relationships between these pervasive new forms of digital transformation and the accompanying new business models, business strategies, innovation and capabilities are being worked through at global, national, corporate and local levels. Whatever the technological future holds it will be defined by continual adaptation, perpetual innovation and the search for new potential. Presently we are experiencing the impact of waves of innovation created by the rapid advance of digital networks, software, and information and communication technology systems that have transformed workplaces, cities and whole economies. These digital technologies are converging and coalescing into intelligent technology systems that facilitate and structure our lives. Digital technologies fundamentally challenge through creative destruction existing routines, capabilities and structures by which organisations presently operate, adapt and innovate. In turn digital technologies stimulate a higher rate of both technological and business model innovation, moving from producer innovation to a more user and open collaborative innovation. This analysis will also consider some impending dilemmas associated with the concentration and monopolisation of digital markets. Finally, the article will consider the contribution made by digital transformation to economic growth and environmental sustainability.	en_US
dc.publisher	Oxford University Press	en_US
dc.relation.ispartof	OXFORD RESEARCH ENCYCLOPEDIA OF ECONOMICS AND FINANCE	en_US
dc.rights	info:eu-repo/semantics/embargoedAccess
dc.title	Creative Destruction, Technology Disruption and Growth	en_US
dc.type	Chapter
utslib.location	New York	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Management Discipline
utslib.copyright.status	open_access	*
pubs.consider-herdc	false	en_US
pubs.place-of-publication	New York	en_US
pubs.publication-status	In preparation	en_US

Abstract:

This article aims to examine the origins of modern technological change, to investigate the impact of the new digital technologies, and to explore the phenomenon of digital disruption of established industries and occupations. How these technologies will transform industries and institutions, or serve to create new industries and institutions, will unfold in time. The implications of the relationships between these pervasive new forms of digital transformation and the accompanying new business models, business strategies, innovation and capabilities are being worked through at global, national, corporate and local levels. Whatever the technological future holds it will be defined by continual adaptation, perpetual innovation and the search for new potential. Presently we are experiencing the impact of waves of innovation created by the rapid advance of digital networks, software, and information and communication technology systems that have transformed workplaces, cities and whole economies. These digital technologies are converging and coalescing into intelligent technology systems that facilitate and structure our lives. Digital technologies fundamentally challenge through creative destruction existing routines, capabilities and structures by which organisations presently operate, adapt and innovate. In turn digital technologies stimulate a higher rate of both technological and business model innovation, moving from producer innovation to a more user and open collaborative innovation. This analysis will also consider some impending dilemmas associated with the concentration and monopolisation of digital markets. Finally, the article will consider the contribution made by digital transformation to economic growth and environmental sustainability.

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http://hdl.handle.net/10453/129930