Decision Making Model for the Emerging Nanotechnologies

Abstract

The difficulty in decision making for the emerging technologies is due to the evolving nature of the new technology, new materials, limited or unavailability of the historic and current data, private and protected nature of the data, product knowledge to monitor and control potential toxic exposure, and other untested or unavailable data on the environment and health effects. The demand for lighter material in healthcare for prosthetics, the automotive and aerospace industries search for Nano-materials. The pharmaceutical industries are challenged with the increase of systematic diseases to provide soluble drug delivery targeting affected tissue, organs, or cells. Investors are seeking opportunities to find the hidden niche in the nanotechnology markets. The ultimatum to meet these industry demands, provide opportunities to investors, newly created nanotechnology industries, and industries looking to expand in other markets. In such complex and ambiguous environment, with limited understanding or predictability for the known and unknown effects of the emerging technology on environment and health, development of the framework for a decision-making model would be an imperative. Successful and appropriate decision making model may come from the leadership insight and governance, stakeholder alliances, sharing of the unknowns, problems, solutions, and advancements. The work presented in the paper is based on the qualitative modified Delphi study by Dr. Audré Dixon for her doctoral degree in Doctor of Health Administration at the University of Phoenix Online.