A FRAMEWORK FOR MANAGING THE FORECASTING PROCESS

Technological innovation is used by many companies as a means of sustaining their competitive advantage. The environments in which this innovation occurs is usually uncertain, therefore, many companies perform technological forecasting in association with their technological innovation processes. While many researchers have studied the innovation process and many more forecasting methods, there is little research connecting the two within the strategic context of the firm. To do this, a model of the forecasting process is needed. The purpose of this paper is to present a model based on a literature review. Previous models which formed the basis for the proposed model will be discussed followed by an explanation of the model and conclusion. Finally, a case study is presented to observe and test the proposed model.