University of Oulu

Simonen, J, Herala, J, Svento, R. Creative destruction and creative resilience: Restructuring of the Nokia dominated high‐tech sector in the Oulu region. Reg Sci Policy Pract. 2020; 12: 931– 953. https://doi.org/10.1111/rsp3.12267

Creative destruction and creative resilience : restructuring of the Nokia dominated high‐tech sector in the Oulu region

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Author: Simonen, Jaakko1; Herala, Johannes2; Svento, Rauli1
Organizations: 1Oulu Business School, University of Oulu, Finland
2Helsinki-Uusimaa Regional Council, Finland
Format: article
Version: accepted version
Access: embargoed
Persistent link: http://urn.fi/urn:nbn:fi-fe202102013349
Language: English
Published: John Wiley & Sons, 2020
Publish Date: 2022-01-22
Description:

Abstract

The Oulu region, a globally recognized hub of mobile technology development in Northern Finland, provides a textbook example of how the various features of an innovation ecosystem can cause serious problems for regional development when a region faces a shock. The Oulu region is also an interesting example of how the effects of shock can be alleviated through creative actions and effective regional policy. In this paper, we develop a framework for analysing resilience using creativeness as the key element. We contribute to the literature by showing how this framework can be used in the operation and management of the regions hit by creative destruction types of shocks. We argue that the dynamic process that Oulu has gone through, in which obsolete and unproductive business activities have been replaced by new fields of technology and knowledge, can clearly be compared in many ways with Schumpeter’s description of “creative destruction.” We call this dynamic process creative resilience. We identify three elements as the core of creative resilience; knowledge creation, entrepreneurship and community spirit. Our paper will show how they materialized in the Oulu region.

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Series: Regional science policy & practice
ISSN: 1757-7802
ISSN-E: 1757-7802
ISSN-L: 1757-7802
Volume: 12
Issue: 5
Pages: 931 - 953
DOI: 10.1111/rsp3.12267
OADOI: https://oadoi.org/10.1111/rsp3.12267
Type of Publication: A1 Journal article – refereed
Field of Science: 511 Economics
Subjects:
Funding: Additionally, the research is connected to the GenZ‐project, a strategic profiling project in human sciences at the University of Oulu. The project is supported by the Academy of Finland (project number 318930) and the University of Oulu.
Copyright information: © 2020 The Author(s). Regional Science Policy and Practice © 2020 RSAI. This is the peer reviewed version of the following article: Simonen, J, Herala, J, Svento, R. Creative destruction and creative resilience: Restructuring of the Nokia dominated high‐tech sector in the Oulu region. Reg Sci Policy Pract. 2020; 12: 931– 953, which has been published in final form at https://doi.org/10.1111/rsp3.12267. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving.