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Innovation Diffusion

Innovation Diffusion. By Nathan Albert. What is i nnovation 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

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Innovation Diffusion

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  1. Innovation Diffusion By Nathan Albert

  2. 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 idea

  3. Innovation diffusion curve

  4. 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

  5. Rate of Adoption of innovation broken down

  6. 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

  7. 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

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