The Failure of Most Entrepreneurial Technological Innovations to Diffuse: What the Literatures Say
Journal Title: International Journal of Management Sciences - Year 2013, Vol 1, Issue 11
Abstract
This paper in broad terms scrutinizes literatures to determine some of the reasons most technological innovations fail. It is guided by the fact that existing body of literature on innovation failure reveal that twothirds of innovations fail. In particular, the article focuses on three industries the automobile, food and the computer/electronic industry with the aim of identifying some technologically sound products that have failed to diffuse and why with reference to when the products get to the market. Granting that government policy and the knowledge economy attest to the importance of innovation for human existence and humans continuously seek novel, sophisticated gadgets, consumers have the propensity to reject the adoption of an innovation, and this invariably leads to the innovation’s eventual failure to diffuse. As a result, firms and researchers are constantly seeking inventions either for commercialisation or for peer recognition in the case of University lecturers. This paper has two objectives: to uncover from literature why potential adopters reject technically sound products leading to their failure to diffuse from the perspective of the producer and the satisfaction derived by the consumers/users. Secondly, to ascertain specific reasons technologically sound products fail to diffuse.
Authors and Affiliations
E. O. Chukwuma-Nwuba
Keywords
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