ENTREPRENEURSHIP

Detailed explanation-1: -Technologies always get the opportunity to reach their performance limits before being replaced by a new technology. Technology diffusion curve is s-shaped because adoption is initially fast when a new technology is introduced to the market. Technology diffusion and information diffusion take the same amount of time.

Detailed explanation-2: -Which of the following describes the most typical evolution of technology’s performance if it is plotted against effort and investment? The more a technology is adopted, the more complementary goods are available for it.

Detailed explanation-3: -Discontinuous change is also characterized by design competition, in which the old technology and several different new technologies compete to establish a new technological standard or dominant design.

Detailed explanation-4: -The path a technology follows through time is termed as technology trajectory.

Detailed explanation-5: -When significant improvements in performance can ONLY be gained through radical new designs or new performance-enhancing materials, it is likely that a company is in the S-curve pattern of innovation. A technology cycle occurs whenever there are major advances or changes in the in a field or discipline.