TY - GEN
T1 - Product and technology (innovation) diffusion economics' time relation to abandonment
AU - Parvin, Albert J.
AU - Beruvides, Mario G.
N1 - Publisher Copyright:
© American Society for Engineering Management, 2019.
PY - 2019
Y1 - 2019
N2 - 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.
AB - 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.
KW - Diffusion time value
KW - Innovation diffusion
KW - S-curve
KW - Technology
KW - Technology and innovation abandonment
KW - Technology diffusion
UR - http://www.scopus.com/inward/record.url?scp=85086287920&partnerID=8YFLogxK
M3 - Conference contribution
AN - SCOPUS:85086287920
T3 - 2019 International Annual Conference Proceedings of the American Society for Engineering Management and 40th Meeting Celebration: A Systems Approach to Engineering Management Solutions, ASEM 2019
BT - 2019 International Annual Conference Proceedings of the American Society for Engineering Management and 40th Meeting Celebration
A2 - Schott, E.
A2 - Keathley, H.
A2 - Krejci, C.
PB - American Society for Engineering Management
T2 - 2019 International Annual Conference of the American Society for Engineering Management and 40th Meeting Celebration: A Systems Approach to Engineering Management Solutions, ASEM 2019
Y2 - 23 October 2019 through 26 October 2019
ER -