Successful diffusion and adoption of innovation as a means to increase competitiveness of enterprises
Publication Year: 2015
Journal: Engineering Economics
The context of innovation research (Boden, 1991; Slater, Narver, 1994; Bessant, 2003, Trott, 2003 and others) in theoretical as well as practical levels reveals the unity of researchers’ opinions stating that innovation is manifested in the interaction of the scientific research base, technology development, and market needs. When studying the latter aspect (Porter, 1985; Sounder, 1988; Baker, 1999; Jakubavičius, 2003; Hoffman, Czinkota et al., 2005 and others), more and more often the innovation creation process is chosen as the scientific research object. When evaluating cases of innovation failure, attention is drawn to the management of the innovation creation process whereas enterprises experience much bigger losses due to innovation that failed during the process of diffusion and adoption. Therefore it is important for enterprises to seek exclusiveness by innovation to find ways that would allow increasing the probability of successful diffusion and adoption of innovation. On this basis this article analyses the following scientific problem: what are the factors that determine successful diffusion and adoption of innovation in the market, what are their links to the process of diffusion and adoption of innovation and outcomes of consumer behaviour? The aim of the article is to identify and substantiate theoretically the factors that determine successful diffusion and adoption of innovation, revealing their importance for increasing competitiveness of enterprises.