Applications of Technological Forecasting

The applications of technological forecasting are as follows:

  • It helps the development programs into areas, which could utilize new technology to reduce cost or increase profits.
  • To concentrate on areas which and where a new demand might exist or a product improvement might be required to protect the market share.
  • For the helping of research and development to meet both short range and range corporate goals.
  • To help to find out new opportunities and possible competition in the technological arena this might modify corporate goals.
  • To properly canalize and schedule the resources and new technology so that the opportunities can be cashed into manufacturing.
Applications of Technological Forecasting

Applications of Technological Forecasting

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