The Knowledge, Business Management, and Stock Link

The Delphi Technique is an important step in crafting strategy. It lends the assurance of authority to Environment Scanning.

Please see earlier posts on this web log if you are a first-time visitor, in order to make full sense of this piece.

The Delphi Technique sounds simple when you read about it. All you have to do is to talk to experts. Designers are best for fashion. Researchers should know about new technologies. Economists should be able to predict interest rate trends.

Here is a link for detailed information on the Delphi Technique:

http://www.iit.edu/~it/delphi.html

Here are some tips on how to use the method for top stock picks:

1. It is better to offer the domain experts you choose handsome returns for their efforts. Shares of stock gains would be best. This will guard you against casual and misleading thinking.

2. Use the same people every time you perform an Environment Scan. Once a year is best. It helps to review what was discussed last time, so that forecasting abilities keep getting better.

3. Avoid friends. Settle for nothing less than the best in the field in which you wish to pick stocks.

4. Keep adversaries apart. It is best to meet each expert alone.

5. Do not argue or interrupt. Let thoughts flow. Do ask questions to help respondents confirm their lines of thinking.

You now have (if you have followed all the posts on this web log related to Environment Scanning) a strong platform to move towards the next major step in crafting business strategy for stock investing.

This relates to setting objectives.

Please return tomorrow for a post on this crucial strategy crafting step.

Thank you for your comments as well: you can email

Stockway.MyView@gmail.com

or leave a post below.

Your friends and stock investment club members are welcome at this web log as well.