Short answer
Proactively engage with or account for the influence of market expectation shapers like industry analysts in your design and innovation strategy.
- Field
- Innovation & Design
- Source
- Social Studies of Science (2010)
- Method
- Qualitative analysis drawing from Economic Sociology and Sociology of Finance, contrasting different forms of promissory work by industry analysts.
- Evidence
- Strong effect
Specialist organizations, such as industry analysts, actively shape technological development and innovation by strategically creating and managing market expectations. This innovation & design research insight is drawn from a 2010 study published in Social Studies of Science. Using Qualitative analysis drawing from economic sociology and sociology of finance, contrasting different forms of promissory work by industry analysts., researchers explored how this design variable affects real-world outcomes. The key design takeaway: Proactively engage with or account for the influence of market expectation shapers like industry analysts in your design and innovation strategy.
Industry Analysts Shape Technology Through Strategic Expectation Management
Specialist organizations, such as industry analysts, actively shape technological development and innovation by strategically creating and managing market expectations.
Social Studies of Science · 2010
Key Findings
- 01Industry analysts act as intermediaries who commodify and sell future-oriented knowledge.
- 02These 'promissory organizations' exert significant influence on technology shaping by organizing expectations.
- 03The effectiveness of promissory behavior varies, and understanding these differences requires looking beyond the constitutive nature of promises to concepts like the 'performativity of economic theory'.
Application
Design takeaway
Proactively engage with or account for the influence of market expectation shapers like industry analysts in your design and innovation strategy.
How to apply
When developing a new product, research how industry analysts are framing the future of your market and consider how to align your product's narrative with or strategically counter these expectations.
Project actions
- 01Consider who influences the perception of your design project's success.
- 02Analyze how market trends and expert opinions might shape the reception of your design.
Method & Evidence
Variables
Strengths & Limitations
Strengths
- +Provides a novel theoretical lens ('promissory organizations') for understanding market influence.
- +Integrates insights from multiple sociological fields to offer a nuanced perspective.
Limitations
It can be difficult to definitively prove causality between analyst predictions and actual technological outcomes.
Reliability & validity
The study's validity relies on the sociological interpretation of industry analyst practices. Reliability would depend on consistent application of the developed typology across different analyst firms and markets.
Think critically
To what extent does the influence of industry analysts stifle genuine innovation by promoting a narrow range of predictable technological futures?
Design Principles
"The perceived future value of a technology is as critical as its current functionality in driving its adoption and development."
Understanding how external expectations are constructed and disseminated is crucial for designers and innovators. It highlights the importance of considering the socio-economic landscape and the influence of 'promissory organizations' in the product lifecycle, beyond purely technical considerations.
What This Means for Your Design
People who predict the future of technology, like industry analysts, can actually change how technology develops by making companies and customers believe certain things will happen.
How to use in your project
- 1.Reference this paper when discussing the market context and potential reception of your design solution.
- 2.Use the concept of 'promissory organizations' to analyze external influences on your design project.
Add to My Project
Quick Cite
Paragraph starter
The development and adoption of new technologies are significantly influenced by external actors such as industry analysts. These 'promissory organizations' actively shape market expectations, which in turn can direct innovation efforts and procurement decisions. Understanding this dynamic is crucial for any design project aiming for market success, as the perceived future value of a technology can be as impactful as its current performance.
Source
Social Studies of Science
The business of expectations: How promissory organizations shape technology and innovation
journal · 2010
View sourceQuestions About This Research
- What does the research say about industry analysts shape technology through strategic expectation management?
- Proactively engage with or account for the influence of market expectation shapers like industry analysts in your design and innovation strategy. Evidence: Social Studies of Science (2010).
- Why does "Industry Analysts Shape Technology Through Strategic Expectation Management" matter for design?
- Understanding how external expectations are constructed and disseminated is crucial for designers and innovators. It highlights the importance of considering the socio-economic landscape and the influence of 'promissory organizations' in the product lifecycle, beyond purely technical considerations.
- How can designers apply this research?
- Proactively engage with or account for the influence of market expectation shapers like industry analysts in your design and innovation strategy.
- What were the main findings?
- Industry analysts act as intermediaries who commodify and sell future-oriented knowledge.. These 'promissory organizations' exert significant influence on technology shaping by organizing expectations.. The effectiveness of promissory behavior varies, and understanding these differences requires looking beyond the constitutive nature of promises to concepts like the 'performativity of economic theory'.
- What research method was used?
- Qualitative analysis drawing from Economic Sociology and Sociology of Finance, contrasting different forms of promissory work by industry analysts..
- How strong is the evidence?
- Evidence strength is rated Strong effect, based on a 2010 journal from Social Studies of Science.
- What should I do differently in my next project?
- When developing a new product, research how industry analysts are framing the future of your market and consider how to align your product's narrative with or strategically counter these expectations.
- What are the limitations?
- The study focuses on the influence of industry analysts and may not capture all forms of expectation management in innovation.