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doi:10.1094/CFW-55-2-0107 |  VIEW ARTICLE


Market Research: Templates of Innovation in an Age of Creative Destruction

D. Best. Best Vantage, Inc., Northbrook, IL, U.S.A. Cereal Foods World 55(2):107-109.

Despite the current state of the economy, innovation remains alive and well in our industry. I observe it day in and day out, working with large companies and small entrepreneurs who apparently never got the memo that we are supposed to be in a deep funk. All of this is part of a normal economic cycle. Economies boom, then they go bust amid wails of introspective outrage on the heartless shortcomings of capitalism and innovation. Left to themselves, economies recover. The 20th century Austrian economist and historian Joseph Schumpeter first popularized the term “creative destruction” to describe how the status quo of industrial companies and goods is displaced under continuous erosion by upstart innovators. There is no standing still in business. Entrepreneurs engender small companies, which become large companies; large companies become complacent and eventually, like old-growth forest, totter and fall to be replaced by new crops of entrepreneurial innovators. Und so weiter.



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