This essay argues that the economic contribution of certain firms – be they small, young or rapidly growing – has to be understood in a broader context of creative destruction. Growth of some firms requires contraction and exit of some other firms to free up resources that can be reallocated...

In the year 2000 at a meeting in Lisbon, leaders of the European Union (EU) articulated a set of goals for the Union, which have come to be called the Lisbon Strategy or Lisbon Agenda. The agenda had three main goals: to promote growth through innovation, to create a learning economy, and to...

Knowledge intensive business service firms (KIBS) are an important element of modern economies and thus attracting increasing interest in scientific research. In the existing literature it is argued that due to the important role of knowledge, innovation and userproducer interaction in the KIBS...