Creative destruction Term created by the Austrian economist Joseph Schumpeter. It refers to entrepreneurial innovativeness and the resulting large-scale substitution processes where the existing is replaced by the new. PIMS Associates2023-10-18T11:11:38+00:00October 18th, 2023| Share This Story, Choose Your Platform! FacebookTwitterRedditLinkedInWhatsAppTumblrPinterestVkXingEmail