Technology Management - Growth & Lifecycle

Technology Life Cycle The Stages of Technology Life Cycle  Innovation  Syndication  Diffusion  Substitution

Innovation Stage  It

Represents the Birth of a new product, Material (product recovering from R&D activities)  New Ideas are generated on the ‘Need Pull’ and ‘Need Push’ knowledge.  The Time Taken in the Innovation Stage as well as in the Subsequent Stages varies Widely.

Syndication Stage  It

Represents the Demonstration of a new product (Pilot Production  Commercialization of a New Technology (product, Material or Process) with potential for a immediate Utilization.  Very Small Percentage is Commercialized.  Commercialization Depends on Technical & non Technical Factors.

Diffusion Stage  It

Represents the Market Penetration of a New Technology.  Market Penetration Depends on the Acceptance of New Technology by Potential Users.  Supply & Demand Side Factors Jointly Influence the Rate of Diffusion.

Substitution Stage  It

Represents the Decline in Use.  Eventually Extinction of the Technology due to Replacement by Another Technology.  Technical and Non Technical Factors Influence the Rate of Substitution.  Time Taken in this Stage Depends on the Market Dynamics.

Growth of Technology  Technology

Changes

Through

Substitution.  Most Technologies Follow an S Shaped Growth Pattern.  A Particular Technology Eventually Reaches a Stage Where it has limited use.

Growth of Technology The Hard Ware Intensive Technology Diffusion Process has Five Stages.  Incubation Phase  Introduction Phase  Growth Phase  Maturity Phase  Decline Phase

Growth of Technology Incubation Phase  Ideas are Gradually Reduced to one Single Product for the Introduction in the Market Introduction Phase  The Product is Introduced in the Market.  Though the Application will be Slow

Growth of Technology Growth Phase  In this the number of Application Increases rapidly. Maturity Phase  Growth Reduces .  Stability can be Observed

Growth of Technology Decline Phase  Improved Substitution Makes the Technology Obsolete. “The Introduction, Growth and Maturity Phases are Referred to as the Three Major Stages of Technology Life Cycle”

Growth of Technology Stages in Technological Transformation in the Production Of Goods.  Collective Stage  Refining Stage  Processing Stage  Manufacturing Stage  Packaging Stage