Technological innovation and technology assessment

Innovation, application of new ideas from the creativity.

Today, innovation is the most important factors of economic growth . One of the great challenge in management is assess which new technological innovation is useful for organisation and and can be used .Some times need to think about cost of new technology.
hype cycle:
 hype cycle is a graphic representation of the maturity, adoption and social application of specific technologies 

five phases

A hype cycle in Gartner's interpretation comprises five phases:

1. "Technology Trigger" — The first phase of a hype cycle is the "technology trigger" or breakthrough, product launch or other event that generates significant press and interest.
2. "Peak of Inflated Expectations" — In the next phase, a frenzy of publicity typically generates over-enthusiasm and unrealistic expectations. There may be some successful applications of a technology, but there are typically more failures.
3. "Trough of Disillusionment" — Technologies enter the "trough of disillusionment" because they fail to meet expectations and quickly become unfashionable. Consequently, the press usually abandons the topic and the technology.
4. "Slope of Enlightenment" — Although the press may have stopped covering the technology, some businesses continue through the "slope of enlightenment" and experiment to understand the benefits and practical application of the technology.
5. "Plateau of Productivity" — A technology reaches the "plateau of productivity" as the benefits of it become widely demonstrated and accepted. The technology become increasingly stable and evolves in second and third generations. The final height of the plateau varies according to whether the technology is broadly applicable or benefits only a niche market.