To guide technological progress aimed at economic growth, we have to identify a “hotlist” of technologies with superior FPMs. These technologies serve as candidates for innovation. Superior FPMs mean greater physical economies in each of the nine sectors.
There are different approaches to compiling such a hotlist; ranging from a pragmatic and informal approach to a systematized and formal one. Here we deal with the latter.
Three steps are involved
- Explore the possible
- Evaluate the probable
- Envision the preferable
The first step involves an overview of the technological landscape, and the compilation of a profile of potential innovations – a profile based on a review of techno-trends that describe the major anticipated changes in the technological landscape. The second step involves an evaluation of these innovation possibilities and the compilation of a profile of feasible innovations. This step uses a technology relevance matrix to compare potential innovations with corporate competencies. The third step involves the selection of a hotlist from the list of feasible innovations.
We discuss these three steps in the following two posts.
Copyright: Rias J. van Wyk , 2009.