ABSTRACT
This chapter examines how technological forecasts fit the needs of business executives and research managers alike. It attempts to define what constitutes a useful technological forecast. Forecasts of technology can have little meaning unless they are detailed and specific to a particular company, and most company managers simply do not believe that such valid practical forecasts are possible. Technical plausibility and an economic rationale for "utility" are essential parts of the forecasting process. The "objectives network" is an example of a technique evolved for defining strategic business objectives and for translating these objectives into specific technical objectives to guide regarding Research & Development (R & D) decision-making. Technological forecasts – explicit and implicit – have been made, are currently being made, and will continue to be made every time a decision is reached regarding R & D or capital budgets.
