Strategic Entrepreneurship Journal 2007

The Process of Creative Construction: Knowledge Spillovers, Entrepreneurship, and Economic Growth

Rajshree Agarwal¹; David B. Audretsch^2,3; Sarkar Mb⁴

¹ University of Illinois Urbana-Champaign · ² Indiana University Bloomington · ³ Max Planck Institute for the Science of Human History · ⁴ University of Central Florida

Abstract

Questioning the underlying assumptions of the process of creative destruction, we conceptualize an alternative process of creative construction that may characterize the dynamics between entrants and incumbents. We 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. The framework has implications for future research in entrepreneurship, strategy, and economic growth.

DOI

10.1002/sej.36

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