Question

When new technologies arrive, only a few customers adopt such technologies. A large number of customer remain sceptical about the product. The cost of the new technology remain high. As a result it take long time for the businesses to focus on the new technology until the dominant design comes and the price become affordable by the large number of consumers. From your point of view, what might be the reasons established firms might resist adopting a new technology.

Answer 1

ordinarily associations neglect to comprehend the dynamic idea of the market. the market continues changing through changes in client necessities and additionally rivalry movement. it implies each item or administration has a daily existence and will require change. capacity to comprehend the S curve is what is required. numerous organizations don't do it proactively and hence lose keeping the piece of the pie. those organizations go with the conviction that what works yesterday will likewise work tomorrow.

Cash and risk. It can cost a fortune to take out one's current hardware, not which may all be completely paid, and afterward supplant them with something untested. It likewise calls for retraining existing work force as well as recruiting new individuals. What's more, in the wake of doing all that, you might be rivaling organizations about which you know nothing.