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THE WAVES In-depth investigation on Technology, Society, and Policy dynamics for interpreting the past as well as present, and predicting the future so that success rate of pursuing ideas, start-ups, and innovation economy increases.

Technology, Society and Policy

Winning and Losing in Reinvention Race : keeps unfolding: --making America’s innovation bucket leaky, creating prosperity out of reinvention, and turning invention successes transitory
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Opportunity cost

  • Rokon Zaman
  • Created: September 17, 2020
  • Last updated: September 17, 2020

Opportunity cost is the forgone benefit that would have been derived by an option not chosen. In the idea economy, it is a vital factor, often, causing devastation. A company may choose not to pursue new technology to nurture substitution for existing features of product. For example, Kodak did not pursue an electronic image sensor for replacing the film. As a result, Kodak not only suffered from forgone benefit but also, most importantly, it suffered major disruption, leading to filing bankruptcy. 

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