A decision model linkage between technology forecasting, technology dominance and technology strategy

Abstract

In this paper, we provide a hierarchical structure for the strategy selection problem by combining the concepts of technological dominance and technological forecasting. We start with a simple proof about the fact that "those who maintain a status quo will lose", which is the nature of technological dominance. The ultimate purpose of technological forecasting is to find the opportunity of technological dominance. Based on Theorem 2, we develop a mathematical model to select the best technological strategy based on the concept of technological dominance. Four illustrative examples are presented to describe the detailed procedures and algorithms.