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The Korean industry vision 2020 and megatrends

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Frame of Image  national economies because the forecasts provide important - albeit not the only - input for businesses or policy makers in their decision-making capacities. We may construct alternative scenarios and attempt to find possibilities that a certain outcome will produce. Scenario Analysis helps individual firms and policymakers understand the uncertainties arising out of changes in external conditions. Each analysis utilized in economic and industrial forecasts mainly considers economic and technological outcomes such as labor forces, capital accumulation, and productivity changes stemming from innovation that drive change in a country in the future. We may include the social and political outcomes, too. Like most future forecasts and assessments, scenario analysis works best when a mixed team of
decision-makers and experts conducts it. Bringing e x p e r t s from various disciplines into scenario analysis allows them to give additional information that the decision-makers might otherwise overlook. Their participation also lends legitimacy to any plans that are developed for responding to uncertainty the analysis might disclose. Another way to foresee the future is to sort out probable trends that will fundamentally affect the f u t u r e . We call the very influential trends Megatrends. The megatrend approach in industrial analysis offers the strong virtues of identifying global drivers and estimating their impact on the world over the next decades-these are demography, environ


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Title The Korean industry vision 2020 and megatrends
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Material Type Reports
Author(English)

Song, Byoung Jun; Lim, Dongsoon

Publisher

[Seoul]:Korea Institute for Industrial Economics & Trade

Date 2006
Journal Title; Vol./Issue KIET Industrial Economic Review:vol. 11(no. 1)
Pages 10
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < General
Holding KDI School of Public Policy and Management

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