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This learn investigates the relationships among company foresight and administration decision-making techniques in firms. It presents an in depth research of extant theories of company foresight and strategic administration, brings in new insights, and offers an in-depth case research exploration of company foresight of a eu financial institution.
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Extra info for Corporate Foresight and Strategic Decisions: Lessons from a European Bank
Most corporate 32 Corporate Foresight and Strategic Decisions foresight activities are grounded in two motives – either they are a consequence of a company’s business operation which inherently demands such a long-term orientation (as in industries with long product cycles), or they are undertaken as a proactive step to better cope with uncertainties in the business environment in general. (Becker, 2003, pp. 4, 7) • [ . . ], corporate foresight can be deﬁned as a process of communication to build a mid- to long-term vision on future markets, customer needs and societal challenges.
The project described a holistic and global future by computing a set of different variables – mainly quantitative in nature, including feedback loops and advanced computer modelling and simulation (Bell, 2001). , 1972), but unintentionally inﬂuenced the perception of humanity’s future in the years to come. Since the 1980s and 1990s, foresight activities and tools have increased their inﬂuence in academic, public and private institutions. , Shell, the oil shock and the application of scenario approaches) convinced a large audience of the phenomenon as such, but they have also changed the general assumption that there is merely a single and continuous future ahead.
2006, pp. 944, 952) The wide range of different deﬁnitions and overlapping perspectives show just how difﬁcult it is to ﬁnd a clear delineation between corporate foresight and its conceptual cousins, namely strategic and organizational foresight. While an interchangeable use of terms can be observed in the literature, a review of the provided deﬁnitions will shed more light on this confusion: i) Strategic foresight explicitly considers a long-term strategic perspective in an entrepreneurial sense.