Business Model Innovation-Oriented Technology Management for Emergent Technologies

Objectives Of Business Model Innovation-Oriented Technolgy Management

The diffusion of new technologies into the market, even if they have a large potential, is difficult. Many technologies require a period of years before they are adopted by the social system. In some cases, technologies never make it into the market (Baden-Fuller & Haefliger, 2013; Gómez & Vargas, 2012).

The diffusion of emergent technologies into the market needs to aim at increasing the diffusion rate (quantity) and decreasing the adoption time. The diffusion rate is the relative speed at which an innovation is adopted by members of a social system (Rotolo, Hicks & Martin, 2015; Planing, 2014; Rogers, 2003). A good technology diffusion rate implies a bigger market demand and, therefore, greater potential for the company or institution in terms of marketing their technology. Decreasing the adoption time brings advantages in terms of competition as competitors need to develop their technologies and/or adopt their business models in order to address the same market. However, if the gradient is too high, companies and/or institutions can face problems with the provision of the technology to the customer. In this case, the demand is much higher than existing resources can handle. The big challenge for research institutions and companies is to achieve these objectives successfully. Smart Home Technologies or Green Technologies are examples of how commercialisation has had a huge impact on the success of technology as a whole (Karakaya, Nuur, & Hidalgo, 2016; Bohnsack, Pinkse & Kolk, 2014).