Industry modelling

Industry models are used for a variety of purposes including: forecasting markets for strategic planning, providing a basis for directing investments by financial institutions and governments and the development of contingency plans by companies. This paper assesses industry models along two different dimensions, that of the missions fulfilled by the model and that of the problems encountered in the construction of the model: in effect a market and a production orientation respectively. An attempt is made to identify potentially fruitful directions for further developments.