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In this report, the process of innovation is discussed and its evolution over the years. The technological innovation these days haven’t occurred in a short span of time, but it took a long time to accept the technological advancements. In every organisation, digitalisation is the main reason for its success and improvement. Though there are immense advantages of digitalisation for the organisation, there are several challenges the organisation need to face. The challenges have also been discussed in the report. Hence in the corporate organisations, digitalisation is the prime decision making aspect for the success and smooth execution of the process.
Innovation appropriation ordinarily happens steadily with the exponential development of innovation selection from early adopters. There is also the dispersion of individual advancements exponential, however, the rate of dissemination is speeding up, and with each new innovation application, and the early application is becoming more and more popular as the rate of adaptation of the new technology increased to a high degree.
It is clear from the exploration of the factors affecting digitization that in the service sector decision-making process regarding potential digitization is increasingly hard because of the fast pace of the development of the technology and the shift of the potential benefit offered by new technology implementation.
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