Schumpeter, Neo-Schumpeterianism, and Stra.Tech.Man Evolution of the Firm
Issues in Economics and Business (International Economics and Business), Vol. 5, No. 2, pp. 80-102, 2019
23 Pages Posted: 26 Jan 2020
Date Written: December 22, 2019
The Schumpeterian way of thinking for the analysis of innovation, as an evolutionary socioeconomic phenomenon, seems to be still of particular usefulness while the fundamental contribution by Nelson and Winter with the “evolutionary theory of economic change” is nowadays one of the most widely cited references in the contexts of “neo-Schumpeterianism.” In a similar evolutionary concern, Vlados (2004) also examines the “dynamics of the triangle of strategy, technology, and management” (Stra.Tech.Man synthesis). The aim of this article is, in particular, to find out to what extent the Stra.Tech.Man approach utilizes and enriches some of the fundamental neo-Schumpeterian contributions by focusing mostly on the evolutionary theory of the firm, the use of evolutionary biology on analyzing socioeconomic phenomena, and the interpretation of structural change into the context of global dynamics. To achieve this goal, we first distinguish some of the criteria/filters that allow for evaluating whether a research contribution can be of neo-Schumpeterian direction. These criteria also help to identify generic concepts of recent neo-Schumpeterian trends in order to formulate a new analytical background based on the Stra.Tech.Man approach.
Keywords: Schumpeter, Neo-Schumpeterianism, Evolutionary Economics, Evolutionary firm theory, Stra.Tech.Man approach, Global dynamics
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