Technology cycles include pharmaceutical manufacturers

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(Some reasons that established firms may resist adopting a new technology could be the unwillingness to spend money or the already familiarity of the "old" technology. I know for a fact that the reason why books in "A Song of Ice and Fire" take so long to come out is George R R Martin's stubbornness to use a computer from this century. Obviously money isn't as issue for him, but he's so comfortable using a computer from 1970 that takes 3 years to boot up rather than a fast, astronomically more powerful MacBook. Some industries that have very short technology cycles are smart phones manufacturers and software developers.

Some industries that have long technology cycles include pharmaceutical manufacturers and plastic container manufacturers. Factors that affect the length of the technology cycle can include people wanting more from a certain product. Smart phones are so new that improvements can constantly be made versus someone who manufactures plastic bins. Sure you can change the style of a plastic bin, but its otherwise maxed out in its capabilities of holding objects.)

Reference no: EM131691390

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