P. 1
Social Forecasting for Corporate Sector

Social Forecasting for Corporate Sector



|Views: 1,165|Likes:
Social Forecasting addresses issues that are not addressed by technological and economic forecasts.
Social Forecasting addresses issues that are not addressed by technological and economic forecasts.

More info:

Published by: Krishnamurthy Prabhakar on Jun 02, 2007
Copyright:Attribution Non-commercial


Read on Scribd mobile: iPhone, iPad and Android.
download as DOC, PDF, TXT or read online from Scribd
See more
See less





 Prepared by
 Prof.K. Prabhakar, Director, , KSR College of Technology,Tiruchengode-637 209 Prabhakar.krishnamurthy@gmail.com
The term Social Forecasting is not a recent addition to business vocabulary. Theuse of social forecasting stems from recognition that social pressures are becoming anincreasing determinant for the success of any organization. The various indicatorsindicate that the society will be experiencing a total change in next few years. Some of these changes have to be anticipated and must be incorporated in any long-range plans of an organization.These changes that are happening in the environment are fundamental. They arenot evolutionary. The greatest challenge is the discontinuities that are happening in theenvironment. We are witnessing an era of knowledge Revolution. If we examine historywe find a series of significant shifts in the conditions of human society. The Renaissance,the Agricultural Revolution and the Industrial Revolution. We are entering a period of rapid change that is more dramatic in its consequences compared to earlier revolutions.This will be followed by rapid changes in the way in which we live, our institutions and business organizations.
The age of communications and knowledge have already begun with the advent of internet and convergence of various technologies. The inevitability of internet andconvergence of technologies is not only due to revolution in microelectronics, but alsodue to exhaustion of material resources essential for maintaining the brick and mortar industrial economy. Should we jump in an era of Dot com and leave brick and mortar?Or should we become brick and click organization? Everybody says that government hasno role in future business. Can we ignore governments has role and go ahead withstrategic planning? If various interest groups are demanding share of economic growthwhat kind of equality should government offer? Where the postindustrial societyheading. It is towards Super Industrial State where everything is managed by machinesor Voluntary Simplicity living according to environment. What kind of explanation wecan give for explosion in investment in Dot com organization? Is it because of individualism promoted by Information Technology? The purpose of social forecasting isto provide an analytical framework for helping the corporate decision-maker to make hisown judgement based on analysis.The social forecasting may not guarantee that correct decisions will be taken. Nor will it ensure that forecasts will be obtained from the emerging trends. It provides a better understanding of the forces shaping the environment. It should provide confidenceto manager that his decisions reflect assessment of these issues. In social forecasting weinclude all those environmental factors that are not currently embraced by economic or technological forecasting. Primarily it involves individual as customer, supplier, manager or employee. It concerns people in-groups both inside as well as outside organizations.It further unfolds to government, society in general and to transnational organizationssuch as European Union. Therefore, Social Forecasting is a term, which includes both political and legal factors in addition to social. We refer to economic forecasting,

Activity (9)

You've already reviewed this. Edit your review.
1 hundred reads
1 thousand reads
Zabbeta Legaki liked this
Zabbeta Legaki liked this
Zabbeta Legaki liked this
aussielux liked this
bprast1 liked this
nancymadan liked this

You're Reading a Free Preview

/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->