Nice idea from
Bergek, A. Bergren, C., Magnusson, T and Hoday, M. 2013 Technological discontinuities and the challenge for incumbent firms: Destruction, disruption or creative accumulation? Research Policy 42 1210–1224.
Here’s a bit from the abstract
We develop and extend the notion of ‘creative accumulation’ as a way of conceptualizing the innovating capacity of the incumbents that appear to master such turbulence. Specifically, we argue that creative accumulation requires firms to handle a triple challenge of simultaneously (a) fine-tuning and evolving existing technologies at a rapid pace, (b) acquiring and developing new technologies and resources and (c) integrating novel and existing knowledge into superior products and solutions.
(Bergek et al. 2013: 1210)
and you should definitely read the whole thing.
To sum up, creative accumulation requires firms to handle a triple challenge of simultaneously (a) fine-tuning and evolving existing technologies at a rapid pace, (b) acquiring and developing new technologies and resources and (c) integrating novel and existing knowledge into superior products and solutions (Bergek et al., 2011). To meet this challenge, they have to engage in technology search and extended experimentation as a basis for building inhouse knowledge and absorptive capabilities (Cohen and Levinthal, 1990), extend their search processes to external sources through close partnering with new suppliers and specialists, and develop technologies and systems that integrate new and existing components and subsystems into functioning products.
(Bergek et al. 2013: 1221)
marchudson.net 