Technology Adoption, Diffusion, and Absorption

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The main people in the diffusion of innovations are:

• Innovators

• Early adopters

• Early majority

• Late majority

• Laggards

​Factors that affect the rate of innovation diffusion are:

1. the mix of rural to urban within a society's population

2. the society's level of education, and

3. the extent of industrialization and development.

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Five-stage adoption Process

​Five-stage adoption Process

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1. ​Repeated collaboration for the same product is avoided.

2. ​The base for technological self-reliance is enhanced.

3. Exports are increased.

4. ​Acquisition of further technologies becomes selective.

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1. ​The industry should attempt to obtain best available technology closest to international trends and provide R&D at the stage of project planning.

2. Speedy indigenization of raw materials and components.

3. Efforts for unpacking the aging of tailor-made equipment in the acquired technology.

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​Sources:

​https://www.walkme.com/glossary/technology-adoption/

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https://www.investopedia.com/terms/d/diffusion-of-innovations-theory.asp

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https://crm.org/articles/diffusion-of-innovations#:~:text=Awareness%2C%20persuasion%2C%20decision%2C%20implementation,becomes%20aware%20of%20the%20innovation.

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