How Businesses Fail in Innovative Technologies

Businesses failing caused by technology innovation seems pretty odd, yet it happens more frequently than it should. It is easy to find companies which fail due to technological quandary. In this paper, we analyze some of main reasons why companies fail because of technology innovation. In order to find out the reasons which cause failures, we need to fully understand not only what happens in those failures but also dependencies of these failures. Although reasons resulting in failures are multiple, they can be traced to poor management of technology and improper innovation. We identify and explain seven principal reasons which may cause a company to fail: Leadership, Strategy, Communication, Marketing, Timing, Finance, and operation. We also suggest measures to prevent and predict these failures