![]() ![]() This can be a painful process and requires sensitive change management. Sometimes departments or entire companies need to be restructured. This strategy can involve big changes within an organisation. In fact, the use of such strategies allows them to move organisations in different directions over a period of years. By using foresight methods to analyse future trends, organisations can create and implement strategic plans. The example of new innovative products and services that respond to the changing consumer needs, demonstrates how strategic planning emerges from future thinking. Some examples of the latest developments are for example changing narratives on how people construct their adult lives and what kind of products and services they consume - tailored groceries, the rise in the consumption of plant-based products and sober curious movement to name a few. With the help of foresight tools, such as trend analysis and implication mapping, organisations can prepare for the possible changes in for example consumer behaviour. Organisations use insight to understand how their customers perceive new products and services. Learn more about organisation’s innovation capabilities and how to enhance those Therefore, they need to have excellent insight and foresight in their customer base. However, in order to innovate, they must understand and predict what their customers want to buy now and in the future. Many businesses depend on innovation to keep moving their businesses forward and to increase their market share. Learn more about the importance of strategic foresight Only by adding this phase and sustaining it will there be improvements in organisations. However, work carried out in the foresight phase is often not done correctly. Many organisations already adopt traditional strategy processes by gathering input, analysing and interpreting it. This model indicates that foresight work precedes both strategic decision-making and strategic planning. Strategy: Strategy development and strategic planning.Foresight work and analysis: What seems to be happening, interpretation of what’s really happening, and prospection on “what might happen?”.Input methods and strategic intelligence: What is going on?. ![]() We can divide strategic methods into four stages according to A Generic Foresight Process Framework ( Voros 2003): By predicting the way the product or market might develop, organisations can change their products to fit future requirements. Foresight leads to innovationĪnother way in which foresight and futures thinking can help an organisation is that it can highlight areas where the company can grow. This can prompt them to carry out additional research, which can lead to better products and marketing. By asking questions about a product or market's future development, organisations can see where they lack knowledge. For example, fruitful thinking can lead to the identification of gaps in the company's knowledge. If an organisation is able to integrate foresight methods into its everyday processes, it can protect itself from adverse events and give it a direction to move forward within its markets. By implementing successful business foresight, organisations can prepare for change and build strategies to cope with it. Understanding the world around us and being able to predict how changes might affect the organization, can provide immense advantages and business opportunities. Therefore, we can say that foresight methodologies are frameworks that allow us to analyse data that structure our thinking about future events. In terms of foresight methodology, it is an operational framework that can be used to see patterns in data more clearly. We define methodology as systems for teaching, doing, or studying something. In organisations, foresight is vital to effective planning as it allows the business to anticipate change. It is often an unconscious process in human beings. We can define the word 'foresight' as the ability to gather and process information about the possible future operating environment. We will also look at how futures thinking and strategic foresight helps businesses plan for the future, innovate and create a more resilient future - taking control of their own future! What is a foresight methodology? Inputs to formulate and guide the business strategies for the future. However, what we are trying to do is to use foresight framework and use its When thinking about foresight in a business setting, we are not trying to predict the future itself. This is where foresight methods and strategic planning come into play. ![]()
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