The Value Contribution of Strategic Foresight: Insights from an Empirical Study on Large European Companies

Technological Forecasting and Social Change, 80(8), 1593-1606 (2013)

44 Pages Posted: 30 Dec 2012 Last revised: 6 Aug 2015

René Rohrbeck

University of Aarhus - Business and Social Sciences, Department of Business Administration

Jan Oliver Schwarz

EBS Universität für Wirtschaft und Recht - EBS Business School

Date Written: December 30, 2013

Abstract

This paper focuses on exploring the potential and empirically observable value creation of strategic foresight activities in firms. We first review the literature on strategic foresight, innovation management and strategic management in order to identify the potential value contributions. We use survey data from 77 large multinational firms to assess how much value is generated from formalized strategic foresight practices in these firms. We show that it is possible to capture value through an enhanced capacity to perceive change, an enhanced capacity to interpret and respond to change, influencing other actors, and through an enhanced capacity for organizational learning.

Keywords: strategic foresight, value creation, weak signals, organizational future orientation

JEL Classification: E17, M1, M19

Suggested Citation

Rohrbeck, René and Schwarz, Jan Oliver, The Value Contribution of Strategic Foresight: Insights from an Empirical Study on Large European Companies (December 30, 2013). Technological Forecasting and Social Change, 80(8), 1593-1606 (2013). Available at SSRN: https://ssrn.com/abstract=2194787

René Rohrbeck (Contact Author)

University of Aarhus - Business and Social Sciences, Department of Business Administration ( email )

Bartholins Allé 10
Aarhus, 8000
Denmark
+45-871 64929 (Phone)

HOME PAGE: http://www.rene-rohrbeck.de

Jan Oliver Schwarz

EBS Universität für Wirtschaft und Recht - EBS Business School ( email )

Gustav-Stresemann-Ring 3
65189 Wiesbaden, Hessen
Germany

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