1. Explain the methods of forecasting technology and markets are available. What are their relative advantages and disadvantages?
2. What role does top management commitment play in the success or failure of implementation? What influences have you witnessed in your organization?
3. What are the strengths and weaknesses of Porter's 'five forces' approach to innovation strategy?
4. Explain rationalist and incrementalist views of innovation implementation. What are the essential differences in assumptions underlying these approaches to strategy?
1. Commonly adopted methods to forecast technology are Delphi method, forecast by analogy, growth curves and extrapolation. The advantage of using these forecasting methods is that these help in decision making process. When a project is being evaluated technology would be an important consideration. One choice for the organization would be to use current technology or delay the project in order to adopt a superior technology. Forecasting provides management with tools to make decisions related to technology. Disadvantage of using forecasting methods is that an understanding of statistics and decisions made for not adopting technology at early stage of life cycle leads to a static technological future.
Forecasting methods used for markets are: using financial data to predict the future market direction. The other method is technical analysis relies on chart patterns and other indicators based on current market performance. Advantage of employing these forecasting methods is that an organization can plan for future marketing strategies depending on the forecast. If the forecast is unfavorable, the organization can reduce costs or adopt ...
Forecasting technology, implementation and Porter's five forces are examined.