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Essay / Research Paper Abstract
This 3-page paper discusses the relationship between technology life cycles and innovation life cycles. Bibliography lists 2 sources.
Page Count:
3 pages (~225 words per page)
File: AS43_MTinnotech.rtf
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Unformatted sample text from the term paper:
And there are innovation and technology life cycles. These latter two, though considered different, are actually interrelated. In this paper, well attempt to match these two cycles.
First lets examine each of these cycles and then see how theyre intertwined. A technology life cycle starts out when the new technology is introduced to
the market. In those early days (or years), the innovators and technology enthusiasts are the only ones to try it; then come early adapters and visionaries (Norman, 1998). This is
followed by the early majority, the late majority and the laggards, in other words, those who are the last to hop on the bandwagon (Norman, 1998). At this point, technology
becomes ubiquitous and people are more concerned about reliability and low cost than they are the new technology (Norman, 1998). The whole cycle begins again when the early adapters, wanting
better performance and more technology, find the next new technology and move forward from there. Ultimately, the older technology becomes obsolete, meaning the companies, and the industry, need to either
give it up, refresh the old technology, or start something new. The Wang Word Processor of the 1980s went through this phase - at first it was the early adapters
who liked it, then as it took hold, it became an important piece of office equipment. But Wang didnt follow the life cycle correctly; they let its word processor lag
into obsolescence. It became obsolete as newer technologies (i.e., computers), offered word processing and other applications, such as database and spreadsheet applications. Eventually Wang fell by the wayside and declared
bankruptcy. This brings us to our next area, which is the innovation life cycle. In his excellent paper about the innovation cycle of
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