Creative Destruction Examples

Creative destruction is a phenomena that impacts us throughout our daily lives. It is a driving force behind how we as adaptive humans navigate how we interact with others in society. In terms of finance, creative destruction can impact the way in which we choose to spend and invest our money and can ultimately empower or drain a faucet of the market economy which we operate on here in the United States. Examples on how this has affected me personally are how the structure in which we do business with customers at my job (being a ticket seller for Texas Athletics) was replaced with a new method and structure and how by upgrading my cell phone (to a Samsung Galaxy Note 4) I was able to better organize and manage my personal life. In terms of how the structure at my place of work has changed. Since the new Athletic Director Steve Patterson was hired at The University of Texas at Austin, he assessed and implemented a new way in which the ticketing office deals with consumers on the face-to-face basis called being “Disney”. This process phased out the traditional walk up to a window and buy a ticket transaction that many would consider so common place. In being “Disney” we now welcome visitors to sporting events as if we are welcoming them as tour guides to an experience. Sellers, like myself, were additionally trained to be more in tune with the happenings of Texas Athletics as well as more …show more content…
It has been show to me through the examples that I have given that market efficiency through better tactics brought on by analysis whether it be through how people interact in a transaction and how companies market and incentivize people to conduct business with them, increase the productivity of the consumer and the business thus keeping markets driving