Never has the perennial ‘gale of creative destruction’ been so pertinent in shaping managerial practice. The rapid ascendancy and economic dominance of big tech companies and high-growth ‘unicorn’ firms has precipitated the emergence of entirely new markets and industries, leaving former market-leaders in peril (e.g. Nokia, Blockbuster). At least so goes the narrative that we are presented with in the business press and trade journals. However, despite the struggles of some incumbent firms to cope with the pace of technological change and the associated shifts in competitive dynamics, many ‘traditional’ firms continue to thrive, developing breakthrough technologies, introducing new products and service offerings, and creating more value for shareholders and stakeholders alike. The key to this endurance is their capacity to invent, develop and commercialise new ideas. In other words, ‘traditional’ incumbent firms are able to withstand the gale of creative destruction by engaging in entrepreneurial activity. The objective of this module is to develop a systematic understanding of this curious paradox by examining how managers create and drive innovation across a range of contexts and industries. To develop this understanding, the module draws on classical and emerging academic thinking on innovation and applies these ideas to contemporary managerial practice. In doing so, the module not only provides a range of analytical tools for developing a conceptual grasp on innovation, but also draws attention to the limitations of these tools in dealing with the uncertainty, ambiguity and equivocality inherent in bringing something ‘new’ into the world.