Technological forecasting as a guide for managerial planning

The author discusses the limitations of statistical forecasting as a guide to managerial planning, with specific reference to technological and market changes in the glass industry. He advocates the use of a Forecast Adjustment Matrix as a framework for identifying marketing and technological factors which might produce significant deviations from established trends. Finally, he suggests that the analysis and adjustment of technological and market trends should be made periodically. The whole technological forecasting operation should be formalized and it should be made the specific responsibility of one organizational unit within the company.