Summary of lesson
Business foresight means the ability to spot and interpret environmental changes on time. It provides a specific view and set of methods to better deal with subversive environmental conditions. The result of applying foresight in the organization can increase ability of organizational learning and implementation of strategic decisions, as well as the ability of influencing the decisions of co-working entities.
Business (corporate) foresight can be seen as an ability that includes any structural or cultural element that enables the company to detect continuous change early, interpret the consequences for the company and formulate effective responses to ensure the long term survival and success of the company.
Framework foresight is a method, which can be applied in a business context to carry out foresight projects. The method was developed at the University of Houston. It is a systematic way to develop a ‘‘start-to-finish’’ future view of a domain or topic of interest and to explore its implications.
References and further information
Papers and Articles:
- Grim, T. (2009). Foresight Maturity Model (FMM): Achieving Best Practices in the Foresight – Field. Journal of Future Studies, 13 (4) 2009
- Kononiuk, A., Glinska, E. FORESIGHT IN A SMALL FIRM. – A CASE STUDY, presentation from ICE Conference 2015
- Cornelius, P. (2005). Exploring the Future in Royal Dutch/Shell: The Role of Scenarios and Possible Extensions [in:]Burmeister, K., Neef, A. (ed.), In the long run. Corporate Foresight und Langfristdenken in Unternehmen und Gesellschaft. Oekom Verlag: Munchen
- Talwar R., (2016), The future of business: Financing Tomorrow, Fast Future Publishing
- Wheelwright V. (2006 – 2014), Small Business Foresight. Long Term Perspective, Scenarios, and Strategic Planning for Small Business, Personal Futures Network
- Hines A., Bishop P. C., Framework foresight: Exploring futures the Houston way, Futures 51 (2013) 31-49.
Books:
- Burmeister K., Neef A. (2005), In the long run, Corporate Foresight und Langfristdenken in Unternehmen und Gesellschaft, oekom verlag,
- Motyl, P. (2014). Labirynt. Sztuka podejmowania decyzji. ICAN INSTITUTE: Warszawa
- De Toni, A.F., Sigari, R., Battistella C. (2015). Anticipare il Futuro:Corporate Foresight, Biblioteca dell’Economia D’Azienda, Egea spa
- Rohrbeck, R. (2011). Corporate Foresight. Towards a Maturity Model for the Future Orientation of a Firm. Springer-Verlag: Berlin
- Sacio-Szymańska A., Tommei S., What is foresight?, In: Sacio-Szymańska A. Ed. (2016), Corporate foresight potential in Visegrad (V4) countries, ITeE-PIB.
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