Applying Diffusion of Innovations Theory
Introduction: Diffusion theory of innovation
Diffusion of Innovations is to explain how innovations are taken up in a population. An innovation is an idea, people or organizational behaviour, or objective that is perceived as new by its audience. Tidd et al (2000) states, “the innovation is a business process of revolving opportunity into new ideas and of putting these into widely used practice. In term of the nature, there are five major types of innovations: novelty, competence shifting, complexity, robust design and continuous improvement. While in term of the extent of change, innovations can be divided into incremental, radical and transformational models. Innovation deals with the change related to product, service and process, and the innovation management involve people, product, process and technology” (Tidd et al., 2000, 121-403).
Developing Diffusion strategy
As stated by Tidd et. al., (2000) to develop the effective innovation strategy is first examining the surroundings to find the opportunities or threats; second, make a decision what should be finished responding to the environment; third, arranging and obtaining resource to grip the change; last, execute the innovation.
Example of Good Innovation
This article explains about the new product that Kodak has come up with. After years of losses, countless layoffs and drops in the company value, Kodak has decided to reinvent itself by introducing some innovative products. They have also started adopting strategies and tactics to lure the customer into buying the product. Kodak introduced easy to use digital cameras and printers that can connect directly into a printer, but it has not done much good for the company as the stocks were still declining. This time around, Kodak have come up with a product that they expect will revolutionize the printer-ink industry, a disruptive innovation that they expect will...