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Showing posts with the label innovation adaptation

Innovation Diffusion of Successful and Unsuccessful Projects

Innovation is often a catalyst that spreads change and adaptation through the industries it touches. Like a virus it moves from one industry to the next helping to make the economic system stronger. Because early adaptors of innovation create market advantages (Greve, 2009) such strategic incorporations are sought, adjusted and capitalized on. Great ideas create great interest and spread quickly even when new innovations are secreted by the industries that develop them.  Most people understand the desire to understand and adopt new innovations when they are beneficial but few understand what happens when such innovations fail. Researchers know that such failure is important knowledge because it can either contribute to the next great success or provide key potholes to avoid when developing their own products or services. In either case success and failure both have a beneficial impact on the development of the economic market.  When failures are apparent organizations ofte