DIFFUSION OF INNOVATION

Abstract

Diffusion of innovation on the concept of bringing new ideas and adopting changes with time. Although it is a complex task for adopters to accept change, positive change in the system is always good for the people. The model of innovations allows the business to understand the effectiveness of the company. For instance, in the health care sector, the models of changes allow the sector to minimize the risk in the adoption of the innovative idea. The diffusion of innovation is important for economic growth because bringing new ideas and new technologies helps out businesses to groom themselves. The first model of diffusion was introduced by Rogers which is considered the basic model of diffusion. However, this categorizes the adapters but, is unable to represent the rate of adoption in proper ways. The diffusion of innovation models was categorized according to their natures. The general model categories are real word models, conceptual models, loose models, and Basic models as well. The basic models are the most implemented because they define the exact threshold after which the diffusion of innovation starts.