Creative Destruction
Creative Destruction Essay
Creative destruction describes the way in which new development arises and replaces its less innovative counterpart. There can be many different causes for creative destruction, whether it is more efficient ways of production, or technological advances. Creative destruction pushes companies, employees, and businesses to either adjust, or end up having their businesses and jobs fail.
An example of creative destruction in the modern world would be Netflix, torrenting movies online, and other forms of digital television and movies which have all contributed in the death of video stores. A big franchise such as Blockbuster, which has been open for nearly thirty years, has been seriously impacted by the technological development of online movie and television watching. People used to have to leave their house to go and rent a movie from the local video store, now with a few clicks of a button and for free you’re good to go, which is a perfect example of creative destruction at work.
In the future, I think many things will change with the new ways of technology, benefitting the “lazier” lifestyle that we all desire. One way that this will happen is with the new idea that Amazon has proposed and is trying to make possible; Amazon Prime Air. Amazon Prime Air is a next generation idea, and what they are trying to accomplish is a new delivery system to get packages (or mail) delivered to their customers’ hands in 30 minutes or less using unmanned aerial vehicles. This whole idea is game changing and if made possible, everyone will want to be apart of it, like FedEx and UPS. Which takes me to my point of how with this new form of delivery, will cause creative destruction. Mail would end up being delivered by aerial vehicles along with packages, or anything you order from anywhere would and or will be delivered to you in 30 minutes or less (or the realistic time frame from where said order is being delivered from.). Online retailers would
Creative destruction describes the way in which new development arises and replaces its less innovative counterpart. There can be many different causes for creative destruction, whether it is more efficient ways of production, or technological advances. Creative destruction pushes companies, employees, and businesses to either adjust, or end up having their businesses and jobs fail.
An example of creative destruction in the modern world would be Netflix, torrenting movies online, and other forms of digital television and movies which have all contributed in the death of video stores. A big franchise such as Blockbuster, which has been open for nearly thirty years, has been seriously impacted by the technological development of online movie and television watching. People used to have to leave their house to go and rent a movie from the local video store, now with a few clicks of a button and for free you’re good to go, which is a perfect example of creative destruction at work.
In the future, I think many things will change with the new ways of technology, benefitting the “lazier” lifestyle that we all desire. One way that this will happen is with the new idea that Amazon has proposed and is trying to make possible; Amazon Prime Air. Amazon Prime Air is a next generation idea, and what they are trying to accomplish is a new delivery system to get packages (or mail) delivered to their customers’ hands in 30 minutes or less using unmanned aerial vehicles. This whole idea is game changing and if made possible, everyone will want to be apart of it, like FedEx and UPS. Which takes me to my point of how with this new form of delivery, will cause creative destruction. Mail would end up being delivered by aerial vehicles along with packages, or anything you order from anywhere would and or will be delivered to you in 30 minutes or less (or the realistic time frame from where said order is being delivered from.). Online retailers would