Fig. 1

Managers’ strategies for adopting current and future innovations. When the current innovation, \({I}_{C}\) arrives, managers can either adopt or bypass it. Managers’ strategies for adopting future innovation, \({I}_{F}\) depend on the strategy for \({I}_{C}\). After the early adoption of \({I}_{C}\), managers can either upgrade to \({I}_{F}\) or hold on to it. If managers bypass \({I}_{C}\), they can either leapfrog to \({I}_{F}\) or purchase \({I}_{C}\)