Discussion and Further Research Avenues

Abstract

Neo-Schumpeterian scholars suggest that we focus on the analysis of the knowledge-bases of firms and their role for entrepreneurial activities and managerial decisions if we want to understand patterns of industry change. Thus, the knowledge-based view of the firm paves the ground for the analysis of innovation network evolution. Evolutionary theory is very rich and offers a broad variety of concepts which have the potential for being applied in an (innovation) economic framework. Competitive pressure forces firms to continuously develop new ideas, invent new technologies and bring new products to the market in order to prevail on the field of creative destruction.