Technological foresight model for the identification of business opportunities (TEFMIBO)

The objective of this study is to provide a support tool for managers to craft a decision to route the future of their business. As an initial part of this paper we propose two studies: 1) trends analysis and 2) change drivers' identification; these lets us know exactly what are the relevant trends in areas where we want to venture that may affect the business activities. All this information is put into a Delphi process with the help of experts in order to find the common denominator of where the future is going; afterwards, with this information we can build events and scenarios for the business opportunities. Then, a diagnostic of the study area, sector or organization through the dynamic diagnostic methods is performed. Once the opportunities have been identified, a strategic analysis that allows decision making to prioritize and define the activities or projects that may be achievable in the future is done, and the result of the process is a portfolio of in business opportunities projects fully defined and ready to be planned with a roadmap where the complete path is drawn. The process allows the managers to consistently organize their development processes targeted to real business opportunities.