Keywords: chaos theory, complexity theory, high tech industries, product strategy, technology adoption life cycle, high technology firms, innovation manangement, technology management
Applications of chaos and complexity theories to the technology adoption life cycle: case studies in the hard-drive, microprocessor, and server high-tech industries
Strategy formulation for high-technology products is very difficult. The short life cycles, and rapidly changing technology make it extremely challenging to develop and implement successful product strategy. Additionally, since the high-tech market is an example of a complex system, its behaviour is an emergent property of component interactions. The continual co-evolution of system components with respect to each other and the environment creates a highly non-linear dynamical system. This paper introduces a quantitative approach to understand the product position in the technology adoption life cycle using some of the principles and tools of Chaos and Complexity theories. This approach is demonstrated by using data sets of three case studies in the hard-drive, microprocessor, and server high-tech industries.