What are some of the reasons that established firms might resist the adoption of a new technology?

In my opinion, established firms might resist the adoption of a new technology because every new technology developing has a cost, and it is also risky. The company cannot be certain that the new technology that they are investing with time and money will deliver the worthy profit and company achievement in the future. According to the textbook, the new product development failure rate can be as high as 95 percent; therefore, developing a new technology is expensive and risky (Schilling, 2010, p. 96)