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The Management of Technological Risk
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Journal Article
The Management of Technological Risk
1977
Overview
Risk is defined as the likely variability of future returns from a given asset/project. The sum of the risks associated with all of the company's assets/projects can be considered the total corporate risk. Different types of risks which can be considered in connection with the factors producing them include economic risk, ecological risk, social risk, political risk, and technological risk. It is pointed out that technological risk is generally ignored or understated in a corporation's planning process. Technological risk can be related to the emergence of a new technology which threatens the market of the corporation's product, an adverse reaction by society in connection with product-related environmental effects, and changes in societal values which alter the market for a product. The evaluation of technological risk is considered and attention is given to a ten-step process for a corporate planning system incorporating technological forecasting, technology assessment, and alternative future analyses.
Publisher
Routledge,Industrial Research Institute, Inc
