An example of creative destruction is a new Walmart opening, driving out the small, neighborhood shops.

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Creative destruction refers to the process by which new technologies, business models, or industries replace old ones, leading to the decline or even extinction of the old ways. The example cited of a new Walmart opening and driving out small, neighborhood shops is a classic example of creative destruction, as the new and more efficient model of large-scale retail replaces the old mom-and-pop shops.

An Example of Creative Destruction Is a New Walmart Opening