Forecasting and Predictions
While it is tempting to think of forecasting in terms of 'predicting outcomes', such an interpretation assumes a causal logic, failing to acknowledge the effectuation processes often at work in sustainability-focused innovative and entrepreneurial activity(Coffay et al.,2022). The entrepreneurial activity is nothing but predicting the right enablers for the future that users will adopt. Predictions have a very close tie to forecasting. Predictions fuel innovations; however, they become known to humanity only if they are adequately forecasted and their usage is assessed correctly. Many of us know Nikola Tesla as the inventor of Alternating Current. How many of us know that he holds over 300 patents? How many of us know in depth about all his innovations? This classification of what is still in discussion vs. what is forgotten is the power of forecasting. Predictions were always there from time immemorial. If we go back, they have even titled prophets, called people with powers,...
