17/8/2014: Disruptive Innovation, Experimentation and Entrepreneurship
Last week I highlighted several studies relating to human capital and entrepreneurship. Here, continuing with the theme, couple more. First , a paper by Acemoglu, Daron and Akcigit, Ufuk and Celik, Murat Alp, titled " Young, Restless and Creative: Openness to Disruption and Creative Innovations " (February 1, 2014, MIT Department of Economics Working Paper No. 14-07: http://ssrn.com/abstract=2392109). Per authors: the study argues that "openness to new, unconventional and disruptive ideas has a first-order impact on creative innovations" where such innovations are defined as those "that break new ground in terms of knowledge creation". The problem, of course, is not that this is something new - if anything, this is trivial - but that we (as society and managerial systems, firms, enterprise ownership structures etc) have a very hard time managing disruptive innovation to achieve 'openness' to the ideas and the generators of such ideas that deliver t...