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BENEFITS OF DOCUMENT

Includes frameworks to help build a strategic foresight capability
Provides a classification of methods used to monitor change drivers and clarify uncertainties
Breaks down a process for running a strategic foresight project

DOCUMENT DESCRIPTION

Even before COVID-19, the world has been witnessing accelerating change and increasing complexity, partly due to the speed of technological development and adoption.

Strategic foresight includes a collection of method to help consider and anticipate an array of possible futures that could impact an organization, making it more adapt at facing "VUCA" - volatility, uncertainty, complexity and ambiguity.

While a strategic foresight exercise traditionally focused on a 10- to 20-year time horizon, the high levels of uncertainty created by the COVID-19 pandemic requires looking at significantly shorter time horizons.

With the traditional strategic planning assuming a reasonably stable
environment, the strategic planning process can be enhanced by embedding foresight methods and tools.

Contents

1. Strategic Foresight Overview
• Context
• Key definitions
• Why use strategic foresight
• What strategic foresight is not
• Traditional strategic planning versus strategic foresight
• Barriers to strategic foresight and potential counteractions
• Benefits of strategic foresight
• Critical considerations for strategic foresight during a crisis
• A futurist approach to strategic planning for a given uncertainty

2. Strategic Foresight Methods
• The Foresight Diamond
• Examples of foresight methods
• Two directional orientations of foresight methods
• Common tools for corporate foresight practices

3. Strategic Foresight Frameworks

3A. Generic Foresight Process Framework
• Key activities and associated questions
• Key elements and their impact on the process
• Key activities and associated tools

3B. Integrated Foresight Framework
• Key activities and associated tools
• Integrated foresight process

3C. Corporate Foresight Framework
• High-level process based on MNC practices
• Foresight integrated long-term planning

3D. Framework Foresight
• Process with the description of each phase
• Process with the outcome of each phase

4. Undertaking a Strategic Foresight Project
• Phase 1: Frame
• Phase 2: Scan
• PESTEL analysis sample factors
• PESTEL analysis factors - summary slide
• Impact/uncertainty matrix - based on input from PEST or PESTEL analysis
• Impact/uncertainty matrix - summary slide
• Phase 3: Futurize
• The futures cone with alternative futures
• 2 x 2 scenario matrix - summary slide
• Identified key scenarios descriptions - summary slide
• Three horizon approach with scenarios embedded
• Phase 4: Envision
• Phase 5: Design
• Backcasting milestones
• Phase 6: Adapt

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Source: Strategic Foresight and Uncertainty PowerPoint document

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Strategic Foresight and Uncertainty

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This business document is categorized under the function(s):

COVID-19 Strategy, Marketing, & Sales

It applies to All Industries

File Type: PowerPoint (pptx)

File Size: 273.7 KB

Number of Slides: 51 (includes cover, transition slides)

Related Topic(s): Strategic Planning COVID-19 Strategic Thinking

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Initial upload date (first version): Oct 12, 2020
Most recent version published: Oct 12, 2020

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