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Creative Destruction: Business Survival Strategies in the Global Internet Economy

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More than fifty years ago, Joseph Schumpeter stated that processes intrinsic to a capitalist society produce a "creative destruction," whereby innovations destroy obsolete technologies, only to be assaulted in turn by newer and more efficient rivals. This book asks whether the current chaotic state of the telecommunications and related Internet industries is evidence of creative destruction, or simply a result of firms, governments, and others wasting valuable resources with limited benefits to society as a ...
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USA 2001 Hardcover 1st Edition New in new dust jacket. This mint, unread, First Edition, HARDBACK, MIT, Cambridge, Massachusetts, 2001, has a mint, unclipped dust jacket that is ... now protected in an extra, bespoke, clear acid-free slipcover. The cover is black cloth with gilt lettering to the spine. The book size is 7.25" w x 9.25" h with notes, a bibliography, an index and 289 pristine pages on high quality acid-free paper. There are diagrams and charts. ISBN 9780262133890. "Widespread fascination with e-commerce, e-business, e-services, and e-whatever has nourished great expectations for the new economy of the information age. Wild swings in stock valuations, however, and sudden bankruptcies of Internet businesses that overlook the nontrivial matter of building a revenue stream and profits along with a website has led some to doubt that there is anything fundamentally new going on with the Internet. United States Federal Reserve Chairman Alan Greenspan warned of "irrational exuberance" in the stock marke Read more Show Less

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Overview

More than fifty years ago, Joseph Schumpeter stated that processes intrinsic to a capitalist society produce a "creative destruction," whereby innovations destroy obsolete technologies, only to be assaulted in turn by newer and more efficient rivals. This book asks whether the current chaotic state of the telecommunications and related Internet industries is evidence of creative destruction, or simply a result of firms, governments, and others wasting valuable resources with limited benefits to society as a whole. In telecommunications, for example, wireless, IP, and cable-based technologies are all fighting for a share of the market currently dominated by older, circuit-switched, copper-terminated networks. This process is accompanied by mergers, acquisitions, bankruptcies, and investment and divestment in worldwide markets.

The selections discuss the primary challenge facing firms, governments, and other players: how to exploit the opportunities created by such destructive dynamics. They highlight the importance of national regulations promoting competition and nonmonopolistic market structures, as well as the role of new technologies such as the Internet in driving down the price and speeding the diffusion of innovative products and services in telecommunications, media, electronic retailing, and other "new economy" industries.

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What People Are Saying

From the Publisher
"For those who need to learn how to navigate through the world-shaking storms of innovation that characterize the Information Age, this lucid and insightful volume is required reading."—Reed Hundt, Author of "You Say You Want A Revolution: A Story of Information Age Politics," and former chairman of the Federal Communications Commission

"Of course the Internet will bring new business models, new revenue streams, new organizations and new services, but it is difficult to move beyond short-sighted or self-serving hype. Where does a thoughtful reader go for an accessible and balanced analysis of structural changes? This book contains challenging and ambitious essays from experts at the front lines of business and academia. It is essential reading for anyone thinking about the scope of the transformation taking place across the communications industry."—Shane Greenstein,Kellogg Graduate School of Management, Northwestern University

"I wish I had been able to read the book prior to my appointment as Chief Technologist at the Federal Communications Commission. The book's clear and informative explanation of the policy and economic implications of communication changes were stimulating and will be extremely valuable to me in my future activities in the technology policy area."—David J. Farber, Alfred Filter Moore Professor of Telecommunications, University of Pennsylvania, and Chief Technologist of the FCC

"As information networks and services converge and transform themselves from vertically-integrated to horizontally-stratified players, untold disruption is inevitable. Why and how these tectonic forces are taking shape is a vital question to strategic planners in related industries everywhere. This book shines new light upon how tomorrow's winners (and losers) are reacting now."—Doug Bulleit, Chief Strategist, BellSouth Corporation

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Product Details

  • ISBN-13: 9780262133890
  • Publisher: MIT Press
  • Publication date: 3/19/2001
  • Edition description: 1ST MIT PR
  • Pages: 250
  • Product dimensions: 6.00 (w) x 9.00 (h) x 0.75 (d)

Meet the Author

Raul L. Katz is Partner in Communications, Media and Technology Group of the international management and technology consulting firm Booz-Allen & Hamilton.

Paul M. Vaaler is Associate Professor in the Department of Strategic Management & Organization, University of Minnesota.

Lee W. McKnight is Associate Professor in the School of Information Studies at Syracuse University.

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