Posts

Showing posts from April, 2019

Diffusion of innovations theory and entrepreneurship

Image
Could understanding the diffusion of innovations help in entrepreneurship?

The diffusion of innovations has been studied by many scholars over the ages, but notably from 1970 onward by American sociologist Everett Rogers.

Rogers was interested in trying to get farmers to adopt innovations that could better their lives and make their businesses more productive. He pondered the forces that lead some to adopt and others to abstain.

Modeling adoption curves

He suggests that different types of adopters: innovators, early adoptions, early majority, late majority and laggards have different adoption criteria. For instance, a strategy that may attract early adopters may not attract the early majority because they want different things.

The size distributions of the different types of adopters (i.e., number of members of a particular adopter category), grow and then shrink giving rise to an inverted u-shaped curve, giving rise to the famous s-curve of total adoption.

Image source: Wikicommons