Corporate Foresight and Dynamic Capabilities

  • Firms engage in forecasting and foresight activities to predict the future or explore possible future states of the business environment in order to pre-empt and shape it (corporate foresight). Similarly, the dynamic capabilities approach addresses relevant firm capabilities to adapt to fast change in an environment that threatens a firm’s competitiveness and survival. However, despite these conceptual similarities, their relationship remains opaque. To close this gap, we conduct qualitative interviews with foresight experts as an exploratory study. Our results show that foresight and dynamic capabilities aim at an organizational renewal to meet future challenges. Foresight can be regarded as a specific activity that corresponds with the sensing process of dynamic capabilities. The experts disagree about the relationship between foresight and sensing and see no direct links with transformation. However, foresight can better inform post-sensing activities and, therefore, indirectly contribute to the adequate reconfiguration of theFirms engage in forecasting and foresight activities to predict the future or explore possible future states of the business environment in order to pre-empt and shape it (corporate foresight). Similarly, the dynamic capabilities approach addresses relevant firm capabilities to adapt to fast change in an environment that threatens a firm’s competitiveness and survival. However, despite these conceptual similarities, their relationship remains opaque. To close this gap, we conduct qualitative interviews with foresight experts as an exploratory study. Our results show that foresight and dynamic capabilities aim at an organizational renewal to meet future challenges. Foresight can be regarded as a specific activity that corresponds with the sensing process of dynamic capabilities. The experts disagree about the relationship between foresight and sensing and see no direct links with transformation. However, foresight can better inform post-sensing activities and, therefore, indirectly contribute to the adequate reconfiguration of the resource base, an increased innovativeness, and firm performance.show moreshow less

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Metadaten
Author details:Lisa-Marie Semke, Victor TiberiusORCiDGND
URN:urn:nbn:de:kobv:517-opus4-474487
DOI:https://doi.org/10.25932/publishup-47448
ISSN:1867-5808
Title of parent work (German):Postprints der Universität Potsdam : Wirtschafts- und Sozialwissenschaftliche Reihe
Subtitle (English):An Exploratory Study
Publication series (Volume number):Zweitveröffentlichungen der Universität Potsdam : Wirtschafts- und Sozialwissenschaftliche Reihe (128)
Publication type:Postprint
Language:English
Date of first publication:2020/08/18
Publication year:2020
Publishing institution:Universität Potsdam
Release date:2020/08/18
Tag:Germany; corporate foresight; dynamic capabilities; forecasting
Issue:128
Number of pages:14
First page:180
Last Page:193
Source:Forecasting 2 (2020) 2, 180-193 DOI: 10.3390/forecast2020010
Organizational units:Wirtschafts- und Sozialwissenschaftliche Fakultät / Wirtschaftswissenschaften / Fachgruppe Betriebswirtschaftslehre
DDC classification:3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft
Peer review:Referiert
Publishing method:Open Access / Green Open-Access
License (German):License LogoCC-BY - Namensnennung 4.0 International
External remark:Bibliographieeintrag der Originalveröffentlichung/Quelle
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