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The IUP Journal of Management Research :

Futurology: A Literature Survey

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In the present scenario of fast technological changes, shrinking distances and increasing competition, having an active concern for the future is a basic prerequisite for survival and growth at the firm and national levels. The developed world seems to have realized this aspect fairly well. Futurology is the scientific prediction of the future. To predict the future, it is necessary to understand the present, all the forces that are relevant in shaping every aspect of the present and how these forces are expected to shape things and events in the future. Furturology analyzes the future in a medium to longterm horizon. It projects the recent trends into the future, through extrapolation, scenario building, brainstorming, forecasting and a variety of other techniques. Futurology also involves taking the proactive stand of importing desirable future outcomes or scenarios and conducting normative research to explore better strategies.

 
 
 

Futurology is the scientific method of predicting the future. To predict the future, one needs to understand the present, all the forces that are relevant in shaping every aspect of the present and how these forces are expected to shape things and events in future. It looks at the future in a medium to longterm horizon. It projects recent trends into the future through extrapolation, scenario building, brainstorming, forecasting and through a variety of other techniques that the subject of futurology has acquired, developed and learned to use. Futurology also involves taking proactive stand of importing desirable future outcomes or scenarios and conducting normative research to explore better strategies. Prof Henry David defines futurology as `the intellectual form in which a society renders account to itself of its probable and possible futures.'

Another, and perhaps more detailed definition is given by Eleonora Masini and Knut Samset: `Futurologyis a field of intellectual and political activity concerning all sectors of the psychological, social, economic, political and cultural life, aiming at discovering and mastering the extensions of the complex chains of causalities, by means of conceptualizations, systematic reflections, experimentations, anticipations and creative thinking. Future studies therefore constitute a natural basis for subnational, national and international, and both interdisciplinary and transdisciplinary activities tending to become a new forum for the basis of political decisionmaking.'

 
 
 

Management Research Journal, Futurology, Decisionmaking Process, RAND Corporation, World Future Studies Federation, Delphi Method, Sociological Options, Sociological Aspects, Corporate Planners, Growth and Development, Environmental Degradation, Cultural Aspects, Technological Innovations.