Innovation Diffusion By Nathan Albert

What is innovation diffusion? Innovation diffusion is a theory seeking to explain why, how and at what rate something spreads Ideas, technologies, entertainment, products, services, etc. A process relying heavy on human capital Innovation diffusion essentially transforms an idea into something relevant Spreading an ideaidea

Innovation diffusion curve

How innovation diffusion works? Innovation diffusion works through a five-stage process: Perceived Attributes of Innovations Type of Innovation-Decision Communication Channel Nature of the Social System Extent of Change Agents’ Promotion Efforts These five stages are the variables that ultimately determine the rate of adoption

Rate of Adoption of innovation broken down

Rate of Adoption variable side notes The five Perceived Attributes of Innovations account for 49-87% of variance Innovation decisions is a time sensitive factor Decisions made individually usually result in more rapid adoption than with organizations The communication channels used to diffuse an innovation is important How the innovation blends into our social system working interconnected will determine relevance and thus speed up or slow down rate of adoption

In-Summary & Questions Different is necessarily better; the innovation needs to have an appealing desire while usually maintaining function in society Everett Rogers, a communication studies professor, summarizes innovation diffusion in his book, Diffusion of Innovations, quite simply: Innovation, Communication channels, Time, Social System What percentage are the Early Adopters on the Innovation Diffusion Curve? 2.5% 13.5% 34% 16% Innovation diffusion is a theory seeking to explain why, how and at what rate something spreads True False