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The Process of Creative Construction: Knowledge Spillovers, Entrepreneurship and Economic Growth
Questioning the underlying assumptions of the process of creative destruction, the authors conceptualize an alternative process of creative construction that may characterize the dynamics between entrants and incumbents. They discuss the underlying mechanism of knowledge spillover strategic entrepreneurship whereby knowledge investments by existing organizations, when coupled with entrepreneurial action by individuals embedded in their context, results in new venture creation, heterogeneity in performance and subsequent growth in industries, regions and economies.