Technology Adoption Decision Framework

Firms are continually faced with a variety of technology adoption opportunities and must determine if and when to adopt each new technology. This study reviews research in the field to identify factors related to technology adoption. These factors are applied in a technology adoption decision framework which assists the firm in identifying its adoption candidacy as well as the optimal time to target its adoption. Internal factors are utilized to identify the firm's candidacy. External factors are utilized to identify factors which a competitor may exhibit, contributing to an understanding of potential competitive advantage. Firm size is identified as a significant factor correlated with technology adoption. A second-mover advantage highlights the possibility that firms may benefit from postponing the adoption decision. The technology adoption decision framework proposed assists the firm in making an informed technology adoption decision with the greatest confidence.