The Management of Strategic-Foresight Activities: Evidence from Large European Multinationals

Günther Müller-Stewens (), Adrian Mueller () and Veronika Lüders ()
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Günther Müller-Stewens: University of St. Gallen
Adrian Mueller: Zurich University of Applied Sciences
Veronika Lüders: Lochbrunner Consulting

Chapter Chapter 4 in Systemic Management for Intelligent Organizations, 2012, pp 63-82 from Springer

Abstract: Abstract Despite the strategic relevance of strategic-foresight activities, the strategic-management literature contains only little and fragmented knowledge of how firms successfully manage such activities. This exploratory paper provides insights into the management of strategic-foresight activities based on in-depth case studies of five large multinational companies. According to our findings, strategic-foresight activities (1) are structurally managed within an organization via one of three models, (2) consist of initiation, modeling, and finalization phases, which occur in circular, iterative loops, (3) use increasingly qualitative and participative methods, (4) support strategic decision-making with a main focus either on innovation and exploration or on planning and exploitation, (5) are subject to substantial change depending on the content-related openness of the corporate strategy (diversification vs. focusing) and the openness of the strategic-planning process (outside vs. inside orientation), and (6) are induced by a radical and sudden change in the corporate strategy.

Keywords: Strategic Management; Forecasting; Environmental Analysis; Issue Management; Early Warning Systems; Grounded Theory (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-29244-6_4

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DOI: 10.1007/978-3-642-29244-6_4

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