Integrating sustainable value thinking into technology forecasting: A configurable toolset for early stage technology assessment

Abstract

There is an urgent need for technology development to make a sustainable or restorative contribution to the environment, with its inherent links to society and societal welfare. Forward-looking activities, such as firm level technology forecasting and technology intelligence, are increasingly important in providing positive impact that is complementary to policy level interventions. However, selecting and implementing appropriate approaches to conduct these activities and quantifying their value contribution is still difficult. This article seeks to demonstrate how technology opportunities may be explored more effectively by combining existing methods for assessing new technology and identifying sustainable value, in an approach for industry that is both configurable and practical while delivering tangible benefits. It details the two-year university-industry collaboration and testing of a configurable toolset, based on four templates used in a workshop setting. Results indicate that the toolset has successfully probed technological, environmental and social capabilities, promoted the selection and implementation of an appropriate approach and led to the quantification of value through the inclusive, transparent and documented assessment of technology opportunities and the tangible actions identified. In summary, the toolset supports company employees in realising a measure of prospective sensemaking, which is a key deliverable from forward-looking activities.