Before firms jump into the space of bigger, more transformative, innovation there are several conversations that need to occur but rarely do. Here are three good conversations that should occur before launching a transformative innovation effort.
Strategic foresight enables companies to build a proprietary view of the future to drive breakthrough innovation. Some Strategic foresight projects include Participatory Futures, which are immersive experiences in a simulated future environment that help innovation leaders gain insights in to new products or service opportunities
It is impossible to predict the future. A Strategic foresight process provides an ongoing way to fill and manage the innovation pipeline so that companies can act in uncertainty and gain outsized growth from safely taking greater risks.
During Strategic Foresight, the Plan Phase is used to prioritize opportunity areas, ideate new products, services, and experiences, and provide external landmarks for ongoing portfolio management.
In the second phase of strategic foresight - Anticipate - we forecast trends into the future and analyze how they will interact to create novel future environments.
During the first phase of Strategic Foresight - Discover - the goal is to understand what elements of the external environment impact value creation and indicate forces of change.
Strategic foresight is a discipline that provides a structured way to investigate, not predict, the future. Strategic foresight scenarios are provocative, yet plausible, alternative views of the future. But where did this idea come from?
Strategic foresight is a discipline that provides a structured way to investigate, not predict, the future. In the research and development context, strategic foresight is advanced portfolio management, where projects are selected based on robustness across multiple future scenarios.
