Measuring the Value Contribution of Corporate Foresight

3rd ISPIM Innovation Symposium: Quebec City, Canada, 2010

12 Pages Posted: 5 Jan 2011 Last revised: 30 Sep 2013

See all articles by Nico Thom

Nico Thom

Technische Universität Berlin (TU Berlin); Schaltzeit GmbH

Date Written: November 7, 2010

Abstract

Managing uncertainty coming from environmental change is one of the challenges in innovation management. Companies are increasingly facing this challenge with means of corporate foresight. Integrating the gained insights into decision-making processes is believed to contribute to the success of an organization. A big barrier for the integration of foresight results though is how these results are valued – a matter of corporate culture, but also of cost-value ratio. Foresight activities can be costly and their budget has to be justified by creating a higher benefit. Only few approaches in how to measure the contribution of corporate foresight are discussed in today’s literature. Such approaches are needed though for both, guaranteeing an adequate budget for corporate foresight as well as ensuring the usage of foresight results. This paper gives an introduction to corporate foresight and discusses possible approaches of value measurement on the example of technology foresight at telecommunication provider Deutsche Telekom.

Keywords: corporate foresight, technology foresight, innovation management, controlling, idea management

JEL Classification: O32, E17, M10, M14

Suggested Citation

Thom, Nico and Thom, Nico, Measuring the Value Contribution of Corporate Foresight (November 7, 2010). 3rd ISPIM Innovation Symposium: Quebec City, Canada, 2010, Available at SSRN: https://ssrn.com/abstract=1734262 or http://dx.doi.org/10.2139/ssrn.1734262

Nico Thom (Contact Author)

Schaltzeit GmbH ( email )

Sorauer Str. 3
Berlin, 10997
Germany

Technische Universität Berlin (TU Berlin) ( email )

Straße des 17
Berlin, 10587
Germany

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