Technology Forecasting
Unit-03-Technology Forecasting
Structure:
3.1 Introduction
Objectives
3.2 Concept of Technology Forecasting
Characteristics of technology forecasting
Technology forecast method
Principles of technology forecasting
3.3 Technology Forecasting Process
3.4 Need and Role of Technology Forecasting
3.5 Forecasting Methods and Techniques
3.6 Planning and Forecasting
3.7 Summary
3.8 Glossary
3.9 Terminal Questions
3.10 Answers
3.11 Case Study
3.1 Introduction
By now, we are familiar with the concept of technology acquisition, advantages and disadvantages of technology acquisition. Previous unit also familiarised us with the alternatives for acquiring new technologies, and the reasons compelling a company for obtaining new technologies. We also learnt about the management of acquired technology that is required in all companies. We have also discussed about the measures of scale and mechanisms for acquiring technology.
In this unit, we are going to define technology forecasting and discuss about the need for technology forecasting. We will also study about the role of forecasting in planning process. We are also going to discuss the different forecasting methods and techniques. At last we will see how to relate planning and forecasting.
Objectives:
After studying this unit, you should be able to:
· Define technology forecasting.
· Justify the need for technology forecasting.
· Examine the role of forecasting in planning process.
· Describe and apply different forecasting methods and techniques.
· Relate planning and forecasting.
3.2 Concept of Technology Forecasting
Before we start our discussion on ‘technology forecasting’, let us first define ‘forecasting’.
Generally, ‘forecasting’ refers to the prediction of future on the basis of available information. In the early days, traditional forecasts used to deal with the speed and power. They did not focus on the structures of the organisation. It was assumed that inventions of the future are not
Structure:
3.1 Introduction
Objectives
3.2 Concept of Technology Forecasting
Characteristics of technology forecasting
Technology forecast method
Principles of technology forecasting
3.3 Technology Forecasting Process
3.4 Need and Role of Technology Forecasting
3.5 Forecasting Methods and Techniques
3.6 Planning and Forecasting
3.7 Summary
3.8 Glossary
3.9 Terminal Questions
3.10 Answers
3.11 Case Study
3.1 Introduction
By now, we are familiar with the concept of technology acquisition, advantages and disadvantages of technology acquisition. Previous unit also familiarised us with the alternatives for acquiring new technologies, and the reasons compelling a company for obtaining new technologies. We also learnt about the management of acquired technology that is required in all companies. We have also discussed about the measures of scale and mechanisms for acquiring technology.
In this unit, we are going to define technology forecasting and discuss about the need for technology forecasting. We will also study about the role of forecasting in planning process. We are also going to discuss the different forecasting methods and techniques. At last we will see how to relate planning and forecasting.
Objectives:
After studying this unit, you should be able to:
· Define technology forecasting.
· Justify the need for technology forecasting.
· Examine the role of forecasting in planning process.
· Describe and apply different forecasting methods and techniques.
· Relate planning and forecasting.
3.2 Concept of Technology Forecasting
Before we start our discussion on ‘technology forecasting’, let us first define ‘forecasting’.
Generally, ‘forecasting’ refers to the prediction of future on the basis of available information. In the early days, traditional forecasts used to deal with the speed and power. They did not focus on the structures of the organisation. It was assumed that inventions of the future are not