Foresight is the ability to both envision long-term success and position yourself for growth in multiple future possibilities, rather than remaining static until outside circumstances determine your future for you. Most organizations struggle to understand the importance of foresight and its impact on their future relevance, growth, and success.
“Your organization must be fluid and adaptive rather than stagnant and reactive.”
It takes the right type of organization and the right type of leaders to embark on the road to creating their ideal future. These leaders choose to be drivers of change, rather than allowing others to shape their future for them. Unfortunately, far too many organizations are comfortable doing what they’ve always done. These risk-averse organizations do not have the desire to explore alternative future outcomes and take action to position themselves for long-term growth, and as a result are taking the biggest risk of all.
Foresight is applicable and beneficial to everyone (individuals, leaders, groups, organizations, etc.) regardless of the size of your business, community, and / or organization. However, leaders and organizations generally do not see the benefits of foresight until they become conscious of the changing environment and recognize they need a new and more in-depth strategic process for ensuring future success.
Leaders that incorporate strategic foresight into their organizations are able to:
- Dramatically increase their current and future profitability.
- Anticipate and capitalize on shifts in the market, economy, and public policy.
- Dramatically reduce uncertainty about the future of their industry and organization.
- Identify new opportunity for market and revenue growth amidst constant change and uncertainty.
- Significantly increase their organizations capacity to handle future uncertainty and disruption.
- Establish themselves as industry leaders in innovation and foresight.
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