Open Foresight: Exploiting Information from External Sources

Abstract

Anticipating future developments is an important activity to proactively address upcoming threats and opportunities for firms, frequently concentrated in the business function Corporate Foresight. While the concept of Corporate Foresight is well established, recently the term ‘Open Foresight’ emerged, describing an open perspective towards the environment and incorporating external sources into foresight activities. However, in relation to the development of the foresight research field knowledge from external sources has never been neglected in foresight processes as a way to anticipate different future developments. A strength and innate characteristic of foresight is its openness to external signals. Addressing this contradictory view, this papers proposes a reconciled view on ‘Open Foresight’ and why an open minded view and incorporation of latest developments, also from neighboring research field helps to improve Corporate Foresight and anticipating future developments.

Keywords: Open Foresight, Distributed Information Sources, Corporate Foresight, Innovation Management, Technology Intelligence

JEL Classification: E17, M1, M19