Talk:Corporate Foresight - Revision history

Adriana Postovaru at 02:28, 1 April 2012

Adriana Postovaru — Sun, 01 Apr 2012 02:28:22 GMT

← Older revision		Revision as of 02:28, 1 April 2012
Line 41:		Line 41:
	'''How the discontinuous change can be managed?'''		'''How the discontinuous change can be managed?'''

-	How organizations can successfully managed discontinuous change has been approached from three major research perspectives:	+	How organizations can successfully managed discontinuous change has been approached from three major research perspectives: '''strategic management,innovation management, managing the future'''

-	~~'''1. Strategic management~~
-
-	~~2. '''Innovation management~~
-	~~'''~~
-	~~3. '''Managing the futur'''e~~
	'''		'''
	'''1.Strategic management''' – in time of change the companies need to have the ability to adapt incrementally and the ability to adapt radically (exercising both capabilities is used the term organizations ambidexterity).		'''1.Strategic management''' – in time of change the companies need to have the ability to adapt incrementally and the ability to adapt radically (exercising both capabilities is used the term organizations ambidexterity).

Adriana Postovaru at 02:24, 1 April 2012

Adriana Postovaru — Sun, 01 Apr 2012 02:24:28 GMT

← Older revision		Revision as of 02:24, 1 April 2012
Line 45:		Line 45:
	'''1. Strategic management		'''1. Strategic management

-	2. Innovation management	+	2. '''Innovation management
-		+	'''
-	3. Managing the ~~future~~	+	3. '''Managing the futur'''e
	'''		'''
	'''1.Strategic management''' – in time of change the companies need to have the ability to adapt incrementally and the ability to adapt radically (exercising both capabilities is used the term organizations ambidexterity).		'''1.Strategic management''' – in time of change the companies need to have the ability to adapt incrementally and the ability to adapt radically (exercising both capabilities is used the term organizations ambidexterity).
Line 58:		Line 58:
	Today the future research aims more to discover undetected currents that will influence the future.		Today the future research aims more to discover undetected currents that will influence the future.
	Future orientations are achieved by exploring possible futures rather than predicting future developments.		Future orientations are achieved by exploring possible futures rather than predicting future developments.
		+

	The objective of this article is to show that corporate foresight can contribute through its three roles (initiator role, strategist role and opponent role) to the innovation management process.		The objective of this article is to show that corporate foresight can contribute through its three roles (initiator role, strategist role and opponent role) to the innovation management process.

Adriana Postovaru at 02:23, 1 April 2012

Adriana Postovaru — Sun, 01 Apr 2012 02:23:16 GMT

← Older revision		Revision as of 02:23, 1 April 2012
Line 44:		Line 44:

	'''1. Strategic management		'''1. Strategic management
		+
	2. Innovation management		2. Innovation management
		+
	3. Managing the future		3. Managing the future
	'''		'''

Adriana Postovaru at 02:21, 1 April 2012

Adriana Postovaru — Sun, 01 Apr 2012 02:21:52 GMT

← Older revision		Revision as of 02:21, 1 April 2012
Line 68:		Line 68:

	- The cross case analysis revealed eleven impacts of corporate foresight on the innovation capacity of the organizations		- The cross case analysis revealed eleven impacts of corporate foresight on the innovation capacity of the organizations
		+
	- Through clustering the impacts corporate foresight efforts can be classified in three roles and these roles are effective in maximizing the innovation capacity of the firms		- Through clustering the impacts corporate foresight efforts can be classified in three roles and these roles are effective in maximizing the innovation capacity of the firms
		+
	- This research showed to be important and different from other researches because applying the resource based view and dynamic-capabilities theory to the field of corporation foresight a theoretical base was built.		- This research showed to be important and different from other researches because applying the resource based view and dynamic-capabilities theory to the field of corporation foresight a theoretical base was built.
		+
	- The research has brought contributions on the importance of dedicated management systems to allow firms to move into new business fields and produce radical innovation (organizational ambidexterity)		- The research has brought contributions on the importance of dedicated management systems to allow firms to move into new business fields and produce radical innovation (organizational ambidexterity)
		+
	- Corporate foresight and innovation management contribute to organizational ambidexterity: corporate foresight performing the strategist role allowed the company to explore and develop new business fields and performing the initiator role increases the ability of the company to have incremental innovation		- Corporate foresight and innovation management contribute to organizational ambidexterity: corporate foresight performing the strategist role allowed the company to explore and develop new business fields and performing the initiator role increases the ability of the company to have incremental innovation

Adriana Postovaru at 02:18, 1 April 2012

Adriana Postovaru — Sun, 01 Apr 2012 02:18:40 GMT

← Older revision		Revision as of 02:18, 1 April 2012
Line 22:		Line 22:

	• build a knowledge base (Neef and Daheim, 2005).		• build a knowledge base (Neef and Daheim, 2005).
		+

	Some companies (Aventis, BASF, British Telecom) use foresight information for decision-making process and for the corporate strategy development, others (Philips, Decathlon, Ericsson) use foresight for better understanding the structural changes in science and society (Öner,Atilla M, Göl, Beșer Senem, (2011)).		Some companies (Aventis, BASF, British Telecom) use foresight information for decision-making process and for the corporate strategy development, others (Philips, Decathlon, Ericsson) use foresight for better understanding the structural changes in science and society (Öner,Atilla M, Göl, Beșer Senem, (2011)).
Line 31:		Line 32:

	'''“Dynamic capabilities”''' is the ability to renew the portfolio of strategic resources when the company is facing discontinuous change.		'''“Dynamic capabilities”''' is the ability to renew the portfolio of strategic resources when the company is facing discontinuous change.
		+
	For out-competing their rivals, organizations use some strategic resources with the following characteristics: (1) appropriable– i.e., difﬁcult to imitate, substitute, or transfer; (2) scarce; and (3) in demand.		For out-competing their rivals, organizations use some strategic resources with the following characteristics: (1) appropriable– i.e., difﬁcult to imitate, substitute, or transfer; (2) scarce; and (3) in demand.
		+
	Of course these resources lose their competitiveness in time and the companies need to develop new resources. However it’s quite difficult for companies to adapt quickly and to renew their resources need in times of discontinuous change.		Of course these resources lose their competitiveness in time and the companies need to develop new resources. However it’s quite difficult for companies to adapt quickly and to renew their resources need in times of discontinuous change.

Adriana Postovaru at 02:17, 1 April 2012

Adriana Postovaru — Sun, 01 Apr 2012 02:17:54 GMT

← Older revision		Revision as of 02:17, 1 April 2012
Line 6:		Line 6:
	'''		'''
	Corporate Foresight''' does not predict or forecast the future just permit to see beyond the close environment of organizations.		Corporate Foresight''' does not predict or forecast the future just permit to see beyond the close environment of organizations.
		+
	Companies have to take into consideration future developments and include them in their daily decisions and actions. Because of the complex and uncertain business environment, organizations need long-term orientation.		Companies have to take into consideration future developments and include them in their daily decisions and actions. Because of the complex and uncertain business environment, organizations need long-term orientation.

Adriana Postovaru at 02:17, 1 April 2012

Adriana Postovaru — Sun, 01 Apr 2012 02:17:22 GMT

← Older revision		Revision as of 02:17, 1 April 2012
Line 11:		Line 11:

	• reduce uncertainty by identifying new and relevant trends;		• reduce uncertainty by identifying new and relevant trends;
		+
	• prepare strategic decisions;		• prepare strategic decisions;
		+
	• support innovation processes;		• support innovation processes;
		+
	• develop new and future business ﬁelds/markets;		• develop new and future business ﬁelds/markets;
		+
	• create orientation on future developments;		• create orientation on future developments;
		+
	• build a knowledge base (Neef and Daheim, 2005).		• build a knowledge base (Neef and Daheim, 2005).

Adriana Postovaru at 02:16, 1 April 2012

Adriana Postovaru — Sun, 01 Apr 2012 02:16:27 GMT

← Older revision		Revision as of 02:16, 1 April 2012
Line 2:		Line 2:

	'''What is corporate foresight?'''		'''What is corporate foresight?'''
		+
		+
	'''		'''
	Corporate Foresight''' does not predict or forecast the future just permit to see beyond the close environment of organizations.		Corporate Foresight''' does not predict or forecast the future just permit to see beyond the close environment of organizations.

Adriana Postovaru at 02:15, 1 April 2012

Adriana Postovaru — Sun, 01 Apr 2012 02:15:56 GMT

← Older revision		Revision as of 02:15, 1 April 2012
Line 1:		Line 1:
	Contributors: Adriana Postovaru, Bianca Dragomir, Alexandru Paun		Contributors: Adriana Postovaru, Bianca Dragomir, Alexandru Paun

-	'''~~Corporate~~ foresight~~: Its three roles in enhancing the innovation capacity of a ﬁrm~~'''	+	'''What is corporate foresight?'''
		+	'''
		+	Corporate Foresight''' does not predict or forecast the future just permit to see beyond the close environment of organizations.
		+	Companies have to take into consideration future developments and include them in their daily decisions and actions. Because of the complex and uncertain business environment, organizations need long-term orientation.

-	~~The study aims to explore the ability of corporate~~ foresight to increase the innovation capacity of a ﬁrm, whether it’s about incremental (i.e. enhanced or new products and services within current business ﬁeld) or radical innovation (i.e. creating products and services in ~~new business ﬁelds often using new technologies.)~~	+	Corporations work with foresight studies in order to:
-	~~Unfortunately, many companies, including those from Fortune 500, don’t manage~~ to ~~adapt to external change in due time and in an efficient manner. There are three reasons why this happens (Rohrbeck, Gemünden, 2010, 232)~~:	+

-	~~a) A high rate of change - product life cycles are shortening, there is an increased technological change, an increased~~ innovation ~~speed coupled with an increased speed of the diffusion of innovations~~;	+	• reduce uncertainty by identifying new and relevant trends;
		+	• prepare strategic decisions;
		+	• support innovation processes;
		+	• develop new and future business ﬁelds/markets;
		+	• create orientation on future developments;
		+	• build a knowledge base (Neef and Daheim, 2005).

-	b) ~~Ignorance~~ - ~~that could be caused by short time frames that don’t correspond to~~ corporate ~~strategic-planning cycles~~, ~~which are still coupled with the ﬁscal year cycle~~, ~~or by corporate sensors that don’t detect signals outside their search area~~, ~~or by an over-ﬂow of information that overwhelms top management or by middle managing filtering~~ the ~~information to protect their interests;~~	+	Some companies (Aventis, BASF, British Telecom) use foresight information for decision-making process and for the corporate strategy development, others (Philips, Decathlon, Ericsson) use foresight for better understanding the structural changes in science and society (Öner,Atilla M, Göl, Beșer Senem, (2011)).

-	~~c) Inertia~~ – ~~is an effect of internal complexity (regional reach~~ and ~~product range)~~ and ~~external complexity~~ (the ~~extreme network with other companies)~~.	+	Rene Rohrbeck – defines Corporate Foresight as “an ability that includes any structural or cultural element that enables the company to detect discontinuous change early, interpret the consequences for the company, and formulate effective responses to ensure the long-term survival and success of the company” (Rene Rohrbeck,2010 - Corporate Foresight:
		+	Towards a Maturity Model for the Future Orientation of a Firm, p.11)

		+	In order for a company to adapt to discontinuous change has to have '''“dynamic capabilities”.'''

-	~~The objective of this research was to help increase~~ the ~~implementation of corporate foresight in companies and, more speciﬁcally,~~ to ~~broaden knowledge of~~ the ~~impact and value creation~~ of ~~corporate foresight and its role in enhancing~~ the ~~innovation capacity of a ﬁrm~~.	+	'''“Dynamic capabilities”''' is the ability to renew the portfolio of strategic resources when the company is facing discontinuous change.
-	~~The conclusions and recommendations draw on rich empirical evidence from 19 case studies and 107 interviews. The companies analyzed were from five distinct industries and~~ with ~~different positions in~~ the ~~value chain. Three major instruments for data collection were used~~: ~~interviews, internal documents, and external academic publications by the foresight manager, together with interview templates. The study avoided the bias of the foresighters~~ (i.e., ~~an employee whose job is~~ to ~~scan the environment for weak signals on change) by using three informant perspectives: that of the internal customer~~, ~~that of the corporate foresight activity manager~~, and ~~that~~ of ~~the corporate foresight activity team~~.	+	For out-competing their rivals, organizations use some strategic resources with the following characteristics: (1) appropriable– i.e., difﬁcult to imitate, substitute, or transfer; (2) scarce; and (3) in demand.
		+	Of course these resources lose their competitiveness in time and the companies need to develop new resources. However it’s quite difficult for companies to adapt quickly and to renew their resources need in times of discontinuous change.

-	~~The study reveals three roles that corporate foresight should play~~ to ~~maximize~~ the ~~innovation capacity~~ of ~~a ﬁrm (Rohrbeck~~, ~~Gemünden, 2010, 237):~~	+	Why is difficult for the companies to renew their products and organizations is detailed explained in the other article. The major reasons are: High rate of change, Ignorance and Inertia.

-	~~(1)~~ the ~~initiator role, which increases the number of innovation concepts and ideas;~~	+	'''How the discontinuous change can be managed?'''

-	~~(2) the strategist role, which explores new business ﬁelds;~~	+	How organizations can successfully managed discontinuous change has been approached from three major research perspectives:

-	(3) the ~~opponent role, which challenges innovation projects~~ to ~~increase~~ the ~~quality of their output~~.	+	'''1. Strategic management
		+	2. Innovation management
		+	3. Managing the future
		+	'''
		+	'''1.Strategic management''' – in time of change the companies need to have the ability to adapt incrementally and the ability to adapt radically (exercising both capabilities is used the term organizations ambidexterity).
		+	Environmental scanning is also needed to find up to date information regarding the direction and magnitude of emerging external change

-	~~Each of the roles is further on detailed~~:	+	'''2. Innovation management''' – companies can gain competitive advantage by: acquiring new technologies, linking emerging technologies to the customer needs, building separate organizations for developing radical and incremental innovations, initiating new R&D projects.

-	~~(1)~~ '''~~The initiator role~~''' ~~- Corporate foresight triggers innovation initiatives~~ by:	+	'''3. Managing the future''' – identifying methods to systematic explore the future.
		+	In the past the change occurred slowly enough and the companies were able to prepare themselves and respond adequately.
		+	Today the future research aims more to discover undetected currents that will influence the future.
		+	Future orientations are achieved by exploring possible futures rather than predicting future developments.

-	~~•''identifying new customer needs''~~ through ~~analyzing cultural shifts~~ and ~~collecting~~ the ~~needs of lead customers;~~	+	The objective of this article is to show that corporate foresight can contribute through its three roles (initiator role, strategist role and opponent role) to the innovation management process.

-	~~•''identifying emerging technologies'' by scanning~~ the ~~science~~ and technology ~~environment;~~	+	The research goal of this study is to define a maturity model that can be applied to any organization. For this reason, this study uses information gathered from different companies from different : industry, position in the value chain and business driver (either technology or the market).

-	~~•''identifying new competitor concepts'' by monitoring R & D projects, patenting activities, and~~ the ~~new-product launch announcements~~ of the ~~competitors~~.	+	For more detailed explanations regarding the three roles of the corporate foresight in maximizing the innovation capacity of the firm, please refer to the other article from forwiki.

-	~~(2)~~ '''~~The strategist role~~''' ~~- corporate foresight directs innovation activities by:~~	+	'''Conclusions:'''

-	~~•''creating a vision'' - sharing a vague, broad picture~~ of the ~~future;~~	+	The conclusion of the article is – there is value from corporate foresight and corporate foresight can contribute through its three roles to exploit the opportunity that arise from disruptive change.

-	~~•''providing strategic guidance''~~ - ~~future insights~~ are ~~used~~ to ~~deﬁne strategic directions;~~	+	- The cross case analysis revealed eleven impacts of corporate foresight on the innovation capacity of the organizations
		+	- Through clustering the impacts corporate foresight efforts can be classified in three roles and these roles are effective in maximizing the innovation capacity of the firms
		+	- This research showed to be important and different from other researches because applying the resource based view and dynamic-capabilities theory to the field of corporation foresight a theoretical base was built.
		+	- The research has brought contributions on the importance of dedicated management systems to allow firms to move into new business fields and produce radical innovation (organizational ambidexterity)
		+	- Corporate foresight and innovation management contribute to organizational ambidexterity: corporate foresight performing the strategist role allowed the company to explore and develop new business fields and performing the initiator role increases the ability of the company to have incremental innovation

-	~~•''consolidating opinions'' by simply triggering cross-regional discussions;~~

-	~~•''assessing and repositioning innovation portfolios'' by providing the future insights to change innovation portfolios;~~

-	•''identifying the new business models and alternative business logic'' (ex: Deutsche Bank Research explored possible changes in value creation in the German economy in the next 15 years. The most probable of them showed a market in which 15% of all value is created through networks or consortia of ﬁrms, so the company made steps towards that model.)
-
-	~~(3) '''The opponent role''' - corporate foresight challenges the innovators to create better and more successful innovations by:~~
-
-	•''challenging basic assumptions'' - These assumptions are typically built on worldviews that are undisputed within the company, but which are the subject of more controversy outside the corporate environment;
-
-	•''challenging the state-of-the-art of current R & D projects'' - challenging current activities with what they have observed in the environment or what is already available in lead markets and thus increase the probability that the R & D projects will produce state-of-the-art innovations;
-
-	~~•''scanning for disruptions'' (technologies, products, or changes in the consumer needs) that could endanger current and future innovations.~~

Bianca Dragomir at 15:44, 25 March 2012

Bianca Dragomir — Sun, 25 Mar 2012 15:44:21 GMT

← Older revision		Revision as of 15:44, 25 March 2012
Line 1:		Line 1:
	Contributors: Adriana Postovaru, Bianca Dragomir, Alexandru Paun		Contributors: Adriana Postovaru, Bianca Dragomir, Alexandru Paun
		+
		+	'''Corporate foresight: Its three roles in enhancing the innovation capacity of a ﬁrm'''
		+
		+	The study aims to explore the ability of corporate foresight to increase the innovation capacity of a ﬁrm, whether it’s about incremental (i.e. enhanced or new products and services within current business ﬁeld) or radical innovation (i.e. creating products and services in new business ﬁelds often using new technologies.)
		+	Unfortunately, many companies, including those from Fortune 500, don’t manage to adapt to external change in due time and in an efficient manner. There are three reasons why this happens (Rohrbeck, Gemünden, 2010, 232):
		+
		+	a) A high rate of change - product life cycles are shortening, there is an increased technological change, an increased innovation speed coupled with an increased speed of the diffusion of innovations;
		+
		+	b) Ignorance - that could be caused by short time frames that don’t correspond to corporate strategic-planning cycles, which are still coupled with the ﬁscal year cycle, or by corporate sensors that don’t detect signals outside their search area, or by an over-ﬂow of information that overwhelms top management or by middle managing filtering the information to protect their interests;
		+
		+	c) Inertia – is an effect of internal complexity (regional reach and product range) and external complexity (the extreme network with other companies).
		+
		+
		+	The objective of this research was to help increase the implementation of corporate foresight in companies and, more speciﬁcally, to broaden knowledge of the impact and value creation of corporate foresight and its role in enhancing the innovation capacity of a ﬁrm.
		+	The conclusions and recommendations draw on rich empirical evidence from 19 case studies and 107 interviews. The companies analyzed were from five distinct industries and with different positions in the value chain. Three major instruments for data collection were used: interviews, internal documents, and external academic publications by the foresight manager, together with interview templates. The study avoided the bias of the foresighters (i.e., an employee whose job is to scan the environment for weak signals on change) by using three informant perspectives: that of the internal customer, that of the corporate foresight activity manager, and that of the corporate foresight activity team.
		+
		+	The study reveals three roles that corporate foresight should play to maximize the innovation capacity of a ﬁrm (Rohrbeck, Gemünden, 2010, 237):
		+
		+	(1) the initiator role, which increases the number of innovation concepts and ideas;
		+
		+	(2) the strategist role, which explores new business ﬁelds;
		+
		+	(3) the opponent role, which challenges innovation projects to increase the quality of their output.
		+
		+	Each of the roles is further on detailed:
		+
		+	(1) '''The initiator role''' - Corporate foresight triggers innovation initiatives by:
		+
		+	•''identifying new customer needs'' through analyzing cultural shifts and collecting the needs of lead customers;
		+
		+	•''identifying emerging technologies'' by scanning the science and technology environment;
		+
		+	•''identifying new competitor concepts'' by monitoring R & D projects, patenting activities, and the new-product launch announcements of the competitors.
		+
		+	(2) '''The strategist role''' - corporate foresight directs innovation activities by:
		+
		+	•''creating a vision'' - sharing a vague, broad picture of the future;
		+
		+	•''providing strategic guidance'' - future insights are used to deﬁne strategic directions;
		+
		+	•''consolidating opinions'' by simply triggering cross-regional discussions;
		+
		+	•''assessing and repositioning innovation portfolios'' by providing the future insights to change innovation portfolios;
		+
		+	•''identifying the new business models and alternative business logic'' (ex: Deutsche Bank Research explored possible changes in value creation in the German economy in the next 15 years. The most probable of them showed a market in which 15% of all value is created through networks or consortia of ﬁrms, so the company made steps towards that model.)
		+
		+	(3) '''The opponent role''' - corporate foresight challenges the innovators to create better and more successful innovations by:
		+
		+	•''challenging basic assumptions'' - These assumptions are typically built on worldviews that are undisputed within the company, but which are the subject of more controversy outside the corporate environment;
		+
		+	•''challenging the state-of-the-art of current R & D projects'' - challenging current activities with what they have observed in the environment or what is already available in lead markets and thus increase the probability that the R & D projects will produce state-of-the-art innovations;
		+
		+	•''scanning for disruptions'' (technologies, products, or changes in the consumer needs) that could endanger current and future innovations.
		+
		+
		+
		+	References:
		+
		+	Rohrbeck, René, Gemünden, Hans Georg (2010), Corporate foresight: Its three roles in enhancing the innovation capacity of a ﬁrm in Technological Forecasting & Social Change, Berlin.