“For Schumpeter the most important firms are those that serve as the vehicles for action of the real drivers of the system — the innovating entrepreneurs.”

—  Richard Rumelt

Source: "Towards a strategic theory of the firm." 1997, p. 134

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "For Schumpeter the most important firms are those that serve as the vehicles for action of the real drivers of the syst…" by Richard Rumelt?
Richard Rumelt photo
Richard Rumelt25
American economist 1942

Related quotes

Robert Solow photo

“In my view—and that of most contemporary economists, I believe—Schumpeter’s most original and most lastingly significant book was Theory of Economic Development, which appeared in 1911 (and was translated into English in 1934). It was at the University of Czernowitz, not far from the beginning of his career as an economist, that he worked out his conception of the entrepreneur, the maker of “new combinations,” as the driving force and characteristic figure of the fits-and-starts evolution of the capitalist economy. He was explicit that, while technological innovation was in the long run the most important function of the entrepreneur, organizational innovation in governance, finance, and management was comparable in significance.”

Robert Solow (1924) American economist

"Heavy Thinker" (2007)

Ronald H. Coase photo

“A firm consist of the system of relationships which comes into existence when the direction of resources is dependent on an entrepreneur.”

Ronald H. Coase (1910–2013) British economist and author

Source: 1930s-1950s, "The Nature of the Firm" (1937), p. 393

Michał Kalecki photo

“The most important prerequisite for becoming an entrepreneur is the ownership of capital.”

Michał Kalecki (1899–1970) Polish economist

Source: Theory of Economic Dynamics (1965), Chapter 8, Entrepreneurial Capital and Investment, p. 95

“Most of their real innovation comes from the market”

Tom Peters book In Search of Excellence

Source: In Search of Excellence (1982), p. 159.

Mukesh Ambani photo

“In the journey of an entrepreneur, the most important thing is self-belief and the ability to convert that belief into reality.”

Mukesh Ambani (1957) Indian business magnate

Always invest in businesses of the future and in talent

Robert Solow photo

“I think that this is Schumpeter’s main legacy to economics: the role of technological and organizational innovation in driving and shaping the growth trajectory of capitalist economies.”

Robert Solow (1924) American economist

"Heavy Thinker" (2007)

Hillary Clinton photo

“Let’s free entrepreneurs to do what they do best – innovate, grow, and hire.”

Hillary Clinton (1947) American politician, senator, Secretary of State, First Lady

Presidential campaign (April 12, 2015 – 2016), Speech in Warren, Michigan (August 11, 2016)

“The term ‘kinship’ correctly suggests the existence not only of contemporary relatives but also of ancestors. Indeed, the recent discussion of dynamic capability was prefigured historically, with a variety of terminology, in a number of sources. Perhaps the most directly relevant example among these earlier contributions is Schumpeter’s discussion of the ‘routinization of innovation’ (Schumpeter 1950). Schumpeter’s argument presented, however, an issue that remains central in contemporary discussion of dynamic capability—the possibly problematic character of the claim that there is such a thing as ‘learned competence’ for doingnew things.”

Sidney G. Winter (1935) American economist

Dynamic Capability as a Source of Change, 2008

Richard Koch photo

“In business the 80/20 principle is behind any innovation, any extra value. It is an entrepreneurial principle, a formula for value creation utilized not only by entrepreneurs, but by most managers and organizations.”

Richard Koch (1950) German medical historian and internist

Source: The 80/20 Individual (2003), Chapter: The 80/20 Principle Is at the Heart of Creation

“Successful innovators focused on technology as a driver of value, not just as a tool for operational efficiency.”

Constantinos C. Markides (1960) Cypriot business theorist

Source: Game-Changing Strategies, 2013, p. 66

Related topics