In its simplest form, a network is a group of two or more systems linked together. There are different types of computer networks such as local area networks. Network effects are a phenomenon which refers to the benefits of more people using a valuable service or network. The value of the service may not be realized if only a few individuals are using it. For example, the internet at its introduction was not as valuable as it is now. As users of the internet increased and more websites developed, the value of the same increased.
Innovation has accelerated the way of doing both business and running the day to day life. This innovation depending on the field of concern is not an overnight occurrence to be undertaken; it evolves through various steps and stages. Innovation in the digital world may start from the point of an organization awareness of certain innovative way of performing certain tasks. This awareness is not associated with much information of the innovation. It, however, acts as a propellant to the organization to adopt the innovation.
Others are driven to adopt a certain innovation by interest. Due to the envisioned benefits of a certain innovative way of doing things, people begin to think and show interest in wanting to use the technology. This could lead to its adoption in the long run.
Regardless of the motivation to adopt a given innovation, evaluation of the details of the technology is important for in-depth knowledge in order to be fully informed before committing. This will lead to the people involved trying to determine whether they will actually benefit from the innovation.
The two final steps entail trial and actual adoption of the innovation. In the trial stage, people test the usefulness of the innovation before finally adopting it. This involves looking at the workability and relevance of the innovation. It is then finally adopted when people are pleased and wholly like the innovation. When numerous people approve of it, then its value rises very fast in the society.