Long-Range and Strategic Planning—Its History and Its Future

Payne, Bruce C.

doi:10.1115/1.3427939

Cited by 3 publications

(4 citation statements)

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“…As Erich Jantsch and Robert Ayres noted in the late 1960s, companies at the time began to focus on the integration of technological forecasting with long-range planning, and 2 the implications for organization structure and operations [1] [2]. Thereafter, corporations have increased their use of long-range planning as management began to recognize the importance of a long-term strategy in responding to increased competition among firms [3] [4] [5], the speed of technological change [6], and particularly the fastpaced advancement in information technology [7].…”

Section: Chapter 1 Introductionmentioning

confidence: 99%

“…Long-range planning refers to formalized activities involved in setting long-term goals for business and defining specific plans to achieve these goals [8]. Most firms have some framework of formalized planning, and forecasting is one of the essential inputs to such planning [3]. Several studies underscore the need and the role of TF in strategic planning [9][10] [11].…”

Section: Chapter 1 Introductionmentioning

confidence: 99%

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Exploring Technology Forecasting and Its Implications for Strategic Technology Planning

Cho¹

2000

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As the importance of R&D has been growing in economic growth, the accountability and effectiveness of R&D program are highly emphasized. Especially, in times of economic downturn, the evaluation of performance in a firm is needed to justify R&D investment. In response, various attempts have been made to improve success rates of R&D projects, gain competitive advantage, and achieve a firm's growth in profitability. In particular, in industries where technological innovation is significant, strategic technology planning and R&D capabilities may be the lead ones in defining the dynamic capabilities of a firm. In addition, technology forecasting (TF) in technology planning is a crucial step to follow before developing technologies/products/processes in need. In this regard, researchers have an abiding interest in enhancing methods to forecast emerging technology, while practitioners have a considerable interest in selecting appropriate tools to apply in their field for better forecasting results. Nevertheless, so far it is not well documented how appropriately the current research responds to this need. Thus, a thorough review on TF techniques is conducted to help researchers and practitioners capture methodologies in a tangible way and identify the current trends in the TF arena. Moreover, there is still a lack of clear guidance as to where and how particular TF methods are useful in strategic planning based on technology characteristics as well as the nature of industry. The purpose of this study is to enrich the stream of research on TF activities in a firm for practitioners and ii researchers, a unique context where TF could lead to technological innovation. This research offers a classification of the approaches, and presents technological, industrial, methodological, and organizational aspects of TF methods that are inherent in TF activities. Furthermore, this study provides empirical evidences to support organizational and managerial implications regarding TF activities associated with technology planning in a firm. Research findings in regimes of technological change suggest insights on technological, organizational, and managerial processes within the firm. On the other hand, research on the effects on business performance of "best practices" of strategic planning, which enable firms to articulate their plans to develop, acquire, and deploy resources for accomplishing firms' financial growth, has so far ignored the roles of strategic technology planning associated with TF. In this regard, this study explores a set of indicators, discusses, and presents the findings from the literature in such a way that they become useful for researchers or managers who are in charge of measuring the R&D performance and business performance from innovation activity. Next, this research tested the hypothetical framework proposed not only to provide a current snapshot of how firms across industries implement best practices in strategic technology planning, but also to improve the effectiveness of strategic planning. The result...

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Section: Chapter 1 Introductionmentioning

confidence: 99%

Section: Chapter 1 Introductionmentioning

confidence: 99%

Exploring Technology Forecasting and Its Implications for Strategic Technology Planning

Cho¹

2000

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“…Since 1960's, long range planning has been increasingly used by corporate management [1]. Long range planning is a formalized activities involved in setting a long-term goals for business and define specific plans to achieve these goals [2].…”

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confidence: 99%

“…Most firms have some framework of formalized planning. Forecasting is one of the essential inputs to planning [1]. Furthermore, with the rapid change of technology platform, while many companies are integrated with other functions and govermnent policies, TF activities such as the technology roadmap, business/technology strategy, and information technology (IT) has gained more significance than the accuracy of prediction.…”

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confidence: 99%

Developing strategic decision making process for product and service planning

Cho

2015

2015 Portland International Conference on Management of Engineering and Technology (PICMET)

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Ahstract-It is imperative to forecast advanced or emerging technologies to aid in decision making on firm's R&D investments and business plan for commercialization efforts. Even though a company must align R&D planning with overall business planning such as manufacturing, sales and marketing, personnel, and finance, systematic management approaches are limited in it based upon the prediction of technological change and speed. This paper aims to provide a decision support tool to aid in strategic service planning and technology development in a firm. The study is to enhance strategic development of service and product with the consideration of emerging technologies. This model helps decision makers to easily identify emerging technologies and new research fields with systematic decision making process.

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