Understanding the Technology Life Cycle Model

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The Technology Life Cycle Model illustrates the journey of a technology from inception to obsolescence, guiding companies in investment recovery and project planning. By mapping to the market adoption curve, it moves through phases like Early Adopters, Visionaries, Pragmatists, Conservatives, and Laggards. Align technologies, products/services, and customer needs across the life cycle phases for optimal adoption. Action planning for effective progression is essential. Visit Praxie.com for best practices and tools to navigate technology evolution successfully.

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Uploaded on Aug 08, 2024 | 1 Views

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Presentation Transcript

Technology Life Cycle Model The Technology Life Cycle Model shows the journey a technology takes, from birth to eventual death and the stages in between. Understanding the Technology Life Cycle helps companies predict when they will be able to recover the investment they put into development, and when to plan for new projects. Technology Life Cycles roughly map to the market adoption curve so that the evolution of a given technology moves through the customer adoption phases of Early Adopters, Visionaries, Pragmatists, Conservatives and Laggards. 1 Want more best practices? Visit Praxie.com

Technology Life Cycle Model Pragmatists Map your technologies, products/services, and key customer needs being addressed across the Life Cycle. Be sure to align your thinking to the different Life Cycle phases. Visionaries Conservatives Early Adopters Laggards Incubate Scale Maturity Discontinuity New concepts or ideas being tested in the market Hypergrowth, gaining consumer acceptance Will established, widely used offerings with low growth Declining sales, alternative offerings or competitors taking market share Edit this text to map core technology Core Technology Edit this text to add product or service Products, Services & Business Models Edit this text to add customer need Customer Needs Addressed 2 Want more best practices? Visit Praxie.com

Actions Based on your Life Cycle, enter your action plan to ensure you effectively move through the different phases with your technologies, products, services, and overall strategy for addressing your key customer needs. Actions Owner Due Date Enter action here Enter owner Enter due date 3 Want more best practices? Visit Praxie.com