CHRIST(Deemed to be University)
Department of AIML & DS
HS721 - Innovation and Entrepreneurship
Faculty:
Dr ARUNA S K
Mission Vision Core Values
Christ University is a nurturing ground for an Excellence and Service Faith in God | Moral Uprightness
individual’s holistic development to make effective Love of Fellow Beings | Social Responsibility
contribution to the society in a dynamic environment | Pursuit of Excellence
Christ University
Technology Forecasting
Technology Forecasting is the process of anticipating the future
characteristics, performance, and adoption of technologies to support
innovation strategies and decisions.
Objectives
● Identify emerging technologies
● Predict innovation opportunities
● Guide R&D investments
● Anticipate market disruptions
● Support strategic decision-making
Excellence and Service
Christ University
Role in the Innovation Management Process
Idea Generation
● Use TF to explore technological gaps or future needs
● Example: 5G → New business models in IoT, AR
Feasibility Analysis
● Check if emerging tech will be viable when the product hits market
Strategic Alignment
● Align innovation initiatives with likely technological developments
Portfolio Management
● Balance investments in current vs. future technologies
Excellence and Service
Christ University
Delphi Method – A Forecasting Technique
● To build consensus among a group of experts on the future direction of technology,
industry trends, or innovation challenges.
Step Description
1. Expert Panel Selection -Choose a group of subject-matter experts relevant to the
forecasting topic.
2. First Round Questionnaire - Experts give their opinions/forecasts individually (e.g., "When
will quantum computing be commercially viable?").
3. Summarize Responses-Results are compiled and anonymized by a facilitator.
4. Feedback & Iteration- Experts are shown a summary of results and asked to reconsider or
revise their earlier answers.
5. Repeat Rounds (2–3 times)-The process continues until opinions begin to converge.
6. Final Analysis-Consensus or a refined understanding of future trends is documented.
Excellence and Service
Christ University
̌Economic Justification
Economic justification refers to the process of evaluating whether an investment, innovation,
or business decision makes financial and strategic sense based on cost-benefit analysis and
expected returns.
Purpose:
● To ensure that innovations or technology adoptions are economically viable
● To support investment decisions, project approvals, or business model changes
Common Criteria Used:
● Return on Investment (ROI)
● Net Present Value (NPV)
● Payback Period
● Cost-Benefit Analysis
● Opportunity Cost
● Scalability and Market Potential
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Christ University
First-Mover Vs Late-Mover
A First-Mover is a company or brand that is the first to enter a market with a new product,
service, or technology.
Goal: To gain a competitive advantage by being the pioneer.
Examples
● Amazon – First major online retailer and Netflix – Early mover in video streaming
A Late-Mover is a company that enters the market after the pioneer, often learning from the
first-mover’s experiences.
Goal : To avoid the risks and improve on what the first-mover did.
Examples
● Facebook – Entered after other social networks but improved user experience.
● Samsung – Entered smartphones after Apple but became a global leader.
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Christ University
First-Mover
Advantages
● Brand Recognition – Customers remember the first brand (e.g., Coca-Cola in soft
drinks).
● Customer Loyalty – Early users often stay loyal.
● Technology Leadership – First to develop or patent new technologies.
● Control of Resources – Better access to suppliers, locations, or skilled labor.
● High Market Share – Often captures a large portion of the market early on.
Risks
● High cost of R&D and marketing
● Market uncertainty (customer may not be ready)
● Competitors can learn from your mistakes
Excellence and Service
Christ University
Late-Mover
̌Advantages
● Learn from Mistakes – See what worked and what didn’t.
● Lower Costs – Avoid expensive product testing and market education.
● Better Technology – Use newer or better solutions than the first-mover.
● Targeted Strategy – Focus on customer needs that the first-mover ignored.
Challenges
● Harder to build brand loyalty
● May need aggressive pricing or differentiation
● First-mover may already dominate the market
Excellence and Service
CHRIST
Deemed to be University
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