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The best way to predict the future is to create it.
Abraham Lincoln said the best way to predict the future is to create the future. In the last edition, I used the story of Captain Kirk rigging the Kobayashi Maru test to win the no-win scenario. He ensured his win by creating the conditions for him to win. Companies can do the same by transforming data into insight, insight into foresight, and foresight into innovation.
Once the strategy is in place and in the execution phase, you must monitor the environment and keep your eye on the future to know when you need to pivot or double down. This is called Strategic Foresight.
This is my favorite part of strategy.
Collecting data for data’s sake is wasteful. But data that you can turn into innovation is valuable.
Strategic foresight explained
How to apply strategic foresight
It can’t be used to predict the future
It’s not a one-time event
Examples of who does it well and who bombed
Methods to develop the skill of strategic foresight
Strategic Foresight transforms information into innovation. 🎯
Strategic foresight is the anticipation of possible futures and exploring how current trends, events, and decisions shape those futures. It involves a systematic approach to looking beyond short-term planning horizons to consider the broader context and forces that could impact an organization, industry, or society over time.