In 'The Science of Success', the author Charles Koch, describes the importance of creative destruction in his thinking and quotes Joseph Schumpeter:

‘The...process of industrial mutation...incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one. This process of creative destruction is the essential fact of capitalism.

It is not [price and output] competition which counts, but competition from the new commodity, the new technology, the new source of supply, the new type of organization’.

[He then adds]

See interactive ebook on iBookstore



*

'Only the Paranoid Survive' - Andy Grove

So how do you know whether a change signals a strategic inflection point? Ask these questions to attempt to distinguish signal from noise.

Is your key competitor about to change? When the answer to this question...

See interactive ebook on iBookstore




*

'More Than You Know' - Michael Mauboussin

Just to give you some sense of how much change we've seen in the past hundred years or so, take a gander at the first list of industrial stocks Charles Dow assembled in May 1896...

See interactive ebook on iBookstore