Joseph Shumpeter Came Up with the Term 'Creative Destruction', About

question 41

Short Answer

Joseph Shumpeter came up with the term 'creative destruction', about the impact of innovative entrepreneurs. Complete the following sentence which explains what this type of entrepreneur achieves.
Creative destructors act as ______ in an economy, and their creation - a new ______, a new ______, or a new ______ - triggers '______ that disrupts the existing ______ or ______ structure and creates a new industry or a new infilldustrial structure through innovation.

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Definitions:

Overcome Objections

The process of addressing and resolving concerns or issues raised during a negotiation or sales pitch.

Additional Benefits

Additional benefits are perks or rewards provided in addition to the main or standard benefits, often serving to enhance the overall compensation or satisfaction of an individual.

Immediate Action

A prompt response or measure taken as soon as possible, usually in reaction to an urgent or critical situation.

Indirect Approaches

Communication or action strategies that are not straightforward but instead use suggestion, implication, or subtlety.