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An enactment theory helps to explain why entrepreneurial commitment to emerging fields relevant to business and society such as energy efficiency and renewable energy persists despite the uncertain prospects for success. According to the theory, actions affect commitment through their effects on beliefs. Entrepreneurs in emerging fields take actions to influence relevant stakeholders and infuse them with a field’s norms and values. [...]
Developing an R&D strategy and identifying new technology-based opportunities is a critical activity today. From incremental maintenance of core technologies to long-term threats and opportunities such as nanotechnology, a business needs to understand and manage more technology options than ever before. Technology Foresight is a perspective and process that can sort the options, identify new technology opportunities, and develop coherence between short- and longer-term R&D. The process leverages the insights of the company’s technical personnel to identify current technology strengths and, with outside information, develop foresight from the interaction of industry and technology trends. [...]
Informed by the business strategy, the first part of the Technology Foresight process is to understand—in depth and strategic importance—the current competitive technology strengths of the company. These are extrapolated along both business and technology lines. They lead to identifying the company’s technology Power Zone in a three-dimensional technology space. [...]
For companies in markets and industries where technologies play a critical role in business success, a fundamental and critical question underlies all business activity: how to manage technologies, present and emerging, from both inside and outside the company, to enhance competitive position and drive sustainable profitable growth? [...]
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