Product and technology (innovation) diffusion economics' time relation to abandonment

Albert J. Parvin, Mario G. Beruvides

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

The pace of business is naturally accelerating due to technology and innovation advancements; as such, to maintain relevance and a competitive advantage an organization must understand and use time wisely. Thus, the exploration of product/technology (innovation) diffusion economics, and its relationship to time has great value to decision makers within an organization. Previous research demonstrated via economic impact that when a technology or innovation has a fast diffusion rate, an organization's decision-makers should endeavor to make quicker decisions when compared to a technology or innovation with a slower diffusion rate. Expanding on this research, the Diffusion Time Value, a standardized economic measure referenced to units of time, is used in this paper to explore the economic importance of understanding a product/technology (innovation) diffusion stages in relation to its abandonment point. This framework provides knowledge for an organization's decision makers to make better decisions in relation to time, for the understanding and use of time within an organization can be used as a competitive advantage for growth.

Original languageEnglish
Title of host publication2019 International Annual Conference Proceedings of the American Society for Engineering Management and 40th Meeting Celebration
Subtitle of host publicationA Systems Approach to Engineering Management Solutions, ASEM 2019
EditorsE. Schott, H. Keathley, C. Krejci
PublisherAmerican Society for Engineering Management
ISBN (Electronic)9780997519563
StatePublished - 2019
Event2019 International Annual Conference of the American Society for Engineering Management and 40th Meeting Celebration: A Systems Approach to Engineering Management Solutions, ASEM 2019 - Philadelphia, United States
Duration: Oct 23 2019Oct 26 2019

Publication series

Name2019 International Annual Conference Proceedings of the American Society for Engineering Management and 40th Meeting Celebration: A Systems Approach to Engineering Management Solutions, ASEM 2019

Conference

Conference2019 International Annual Conference of the American Society for Engineering Management and 40th Meeting Celebration: A Systems Approach to Engineering Management Solutions, ASEM 2019
CountryUnited States
CityPhiladelphia
Period10/23/1910/26/19

Keywords

  • Diffusion time value
  • Innovation diffusion
  • S-curve
  • Technology
  • Technology and innovation abandonment
  • Technology diffusion

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