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.…
Author details: | Lisa-Marie Semke, Victor TiberiusORCiDGND |
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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): | CC-BY - Namensnennung 4.0 International |
External remark: | Bibliographieeintrag der Originalveröffentlichung/Quelle |