Abstract
The work of Joseph Schumpeter (1883–1950) is centred around the individual entrepreneur and the entrepreneur’s capacity to envision a new combination of already existing economic elements. But there also exist elements in Schumpeter’s conceptualizations that give a substantial role to the firm and that are relevant to the literature on strategic management. One of these is Schumpeter’s stress on the importance of the entire process of carrying out an innovation – from conceptualization to profit. This approach implies a special as well as a novel perspective on both firm behaviour and organization.
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References
Allen, R.L. 1994. Opening doors: The life and work of Joseph Schumpeter. New Brunswick: Transaction.
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Selected Works
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[1911] 2003. The theory of economic development. In J. Backhaus (ed.), Joseph Alois Schumpeter. Boston: Kluwer. This text constitutes Ch. 7 in Theorie der wirtschaftlichen Entwicklung (1911) and has been translated by Ursula Backhaus.
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1941. The future of gold. Address at the Economic Club of Detroit, 14 April. Harvard University Archives.
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Swedberg, R. (2018). Schumpeter, Joseph (1883–1950). In: Augier, M., Teece, D.J. (eds) The Palgrave Encyclopedia of Strategic Management. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-00772-8_654
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DOI: https://doi.org/10.1057/978-1-137-00772-8_654
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