Challenges for corporate foresight: towards strategic prospective through scenario thinking

Abstract

Purpose

To reflect, first, that the global changes now washing over the people are probably far more profound than is commonly understood, demanding a new mindset on the part of corporate organisations. Second, that this cultural transformation engenders a fresh set of challenges facing the corporate world in tackling the inherent complexity, uncertainty and ambiguity which need a futures‐oriented approach to comprehend and capitalize upon societal change. And third, that this organisational metamorphosis will best be understood, planned and managed through a process of foresight or prospective.

Design/methodology/approach

The particular methodology proposed is that of “prospective through scenarios” which has been developed by The Futures Academy at DIT, and the five formative fields, together with their respective key action areas, have been identified from a review of the relevant recent literature and an evaluation of a number of case studies in which the author has been involved.

Findings

Apart from the more detailed findings recounted throughout the text, the main conclusion drawn is that new kinds of corporatism will require the “proactivity” of prospective founded on the “imagineering” of scenarios to shape their future in a changing world.

Originality/value

In identifying some of the “grand challenges facing corporations in the modern world, the article conceives a mind‐set that accepts” that one can shape the future if one first imagines it.

Citation

Ratcliffe, J.S. (2006), "Challenges for corporate foresight: towards strategic prospective through scenario thinking", Foresight, Vol. 8 No. 1, pp. 39-54. https://doi.org/10.1108/14636680610647138