Technology Forecasting

Overview/Description
 This course introduces the importance of technology in strategic planning and decision-making. It also introduces the concept and techniques of technology forecasting. Two forecasting techniques, trend extrapolation and monitoring, are explained in detail.

Target Audience
 Professionals who advise on or make technology decisions for their organizations, business students, or anyone who is interested in learning how to make technology predictions for a business.

Expected Duration
3.0 hours

Lesson Objectives:

Technology and Strategy

  • identify the importance of understanding the relationship between technology and strategy.
  • identify the impact of technology on performance of a business.
  • identify the key factors in assessing a company's technologies.
  • identify basic factors used in evaluating the technology choice for a business.
  • identify the key factors involved in making technological decisions for a strategic plan.

    • Technology Forecasting

  • recognize the value of technology forecasting for predicting future technological trends.
  • identify the attributes of technology forecasting.
  • identify the uses of technology forecasting for businesses.
  • identify key rationale to support the validity of Technology Forecasting.
  • identify the commonly used technology forecasting techniques.

    • Trend Extrapolation

  • identify the benefits of using trend extrapolation as a forecasting technique.
  • sequence the steps to perform trend extrapolation.
  • identify the stage in the S-curve when given a technological development.
  • identify which approach to use in conducting trend extrapolation for a given technology.
  • identify the pros and cons of trend extrapolation.

    • Forecasting by Monitoring

  • identify the significance of forecasting by monitoring.
  • sequence the four steps of the monitoring process.
  • identify the stage of innovation when given specific technological advances.
  • match different signals of potential technological changes with corresponding environmental signal types.
  • identify the technique used to monitor changes when given a specific situation or case.
  • identify the pros and cons of forecasting by monitoring.

    • Course Number: STGY0311