This book focuses on "creative destruction" in the context of the knowledge economy and society. It examines the ideas of innovation and entrepreneurship developed by Joseph Schumpeter in the early part of the twentieth century; ideas that challenged the orthodoxy of his peers and continue to be a critical force for developing sustainable advantage among enterprises. The discussions and examples illustrate ideas and provide arguments - for both the academic and practitioner - maintaining that although Schumpeter's concepts were developed over seventy years ago, his theory of "creative destruction" is essential for organizations to survive in the future.