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Prediction and Planning

  • Fred Phillips
Chapter
  • 216 Downloads
Part of the Science, Technology and Innovation Studies book series (STAIS)

Abstract

This chapter deals with applying knowledge of the future to personal and organizational planning. It defines the terms “choice” and “alternative” and demonstrates the relation of forecasting to decision making. Introducing the idea of risk management, it lists ways of minimizing the downside consequences of risk. The chapter proceeds to give brief overviews of the most common planning and forecasting techniques, directing readers to textbooks for details on these methods, but emphasizing that each technique assumes a different set of perspectives and goals regarding the future. The chapter continues with observations about the practicality of very long-range plans and forecasting. It concludes by demonstrating why “What do I know about the future?” can be a less useful question than “How fast am I learning more about the future?”

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Copyright information

© Springer Nature Switzerland AG 2019

Authors and Affiliations

  • Fred Phillips
    • 1
  1. 1.Anderson School of ManagementUniversity of New MexicoAlbuquerqueUSA

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