Making sweeping, radical innovate changes is often expensive, and companies must be prepared to take on financial risk to make this change. Capital: Last, a cornerstone principle of creative destruction is capital.Without clear guidance on the intention of the creative destruction, the entrepreneur will likely fail in their attempt to innovate. They are responsible for overseeing change management, educating both internal staff and consumers on how this change will impact them. The entrepreneurs who develop new products and technologies and disrupt existing markets are the agents of creative destruction. Entrepreneurship: Entrepreneurship is also critical to the process of creative destruction. Companies usually strive to find the best ways to do things and are often willing to creatively destroy what they've done in the past to find better long-term solutions. For this reason, creative destruction is usually heavily tied to competition and competitive advantages. The new products or technologies must prove to be better and more efficient than the old ones to replace them.
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