The study of technological innovation began with
Schumpeter's description of the creative destruction process
[1]. More recently, the concept of disruptive innovation
[3] has attracted renewed attention from researchers
and practitioners. The disruptiveness of a technological transition
depends on its acceptance by the market and industry.
However, the creative destruction process is more than simply
introducing an innovative product into an existing market to
replace an incumbent, and a thorough analysis of the interaction
among scientific advances, economic factors, institutional
variables and existing technological trends in the process should
yield useful insight for managers [12].