Foresight in Action: Case Studies
You can’t take your organization’s long-term sustainability and competitiveness for granted. That’s why fostering a futures cultures and becoming futures ready is so critical for organizations now and tomorrow.
The Invincible Company-framework is a roadmap for organizations seeking to excel in both today and tomorrow. Long-term successful organizations are:
Constantly able to reinvent themselves and explore the future
Competing based on superior business models rather than products or services.
Ambidextrous, adept at simultaneously improving their core while exploring new opportunities beyond boundaries.
Part of that long-term success is to apply strategic foresight and do so on a continual basis. By embracing foresight methodologies and fostering a culture of forward-thinking, organizations can anticipate trends and uncertainity, identify opportunities, and navigate the future with confidence. Several companies stand out as exemplars of foresight-driven success, each employing unique approaches tailored to their industries and organizational cultures.
Successfully building a futures culture
PepsiCo, a global food and beverage giant, initiated a strategic shift in 2008 by reshaping its research portfolio through foresight methods. The creation of innovative research departments focused on global ventures propelled PepsiCo to the forefront of industry innovation, enabling the company to not only anticipate future trends but actively shape them.
AXA, a leader in the insurance sector, demonstrates the power of collaboration in foresight endeavors. By engaging internal and external stakeholders, AXA shapes its research agenda to address long-term trends like climate risk and urbanization. Initiatives such as research funds and monthly foresight newsletters foster a culture of innovation and future readiness, ensuring AXA's vision is widely shared and understood.
In the realm of broadcast media, the BBC emphasizes the importance of creativity and imagination in foresight activities. By prioritizing prototyping and engaging diverse voices, the BBC fosters a culture of innovation that drives the future of media. Initiatives targeting both employees and younger audiences ensure the organization's foresight efforts inspire groundbreaking ideas and shape industry trends.
Meanwhile, IBM seamlessly integrates foresight with its culture of innovation and resilience. By leveraging historical practices and modern methods, IBM anticipates future challenges and opportunities, guiding its strategic vision. Initiatives addressing issues like equity and inclusion demonstrate IBM's commitment to shaping a more equitable future.
Across diverse sectors, companies like General Electric (GE) and E.ON exemplify the transformative power of foresight-driven innovation. Through initiatives like scenario planning and collaboration with industry experts, these companies navigate uncertainties and capitalize on emerging opportunities, positioning themselves as leaders in their respective fields.
Audi, a prominent player in the automotive industry, showcases its commitment to innovation and foresight-driven advancements in mobility and technology. With a focus on responsible adoption of emerging technologies like autonomous driving and artificial intelligence, Audi spearheads initiatives like the Foresight Academy, collaborating with other top German brands to foster a culture of forward-thinking.
Shell, a renowned energy company, stands as a pioneering force in the realm of scenario planning and foresight-driven decision-making. Leveraging over 50 years of experience, Shell's Scenario Planning team explores potential future energy landscapes, providing invaluable insights that inform strategic decisions amidst uncertainties.
Nokia, a leader in technology and networks, demonstrates a steadfast commitment to anticipating and shaping the future through extensive foresight initiatives. With reports like the Technology Strategy 2030, Nokia provides invaluable insights into emerging technologies and trends, positioning itself as a frontrunner in driving technological advancements.
Siemens, a global conglomerate, showcases its dedication to innovation and foresight-driven solutions through initiatives like the Future of Manufacturing and the FutureMakers program. By delving into technological trends and industry shifts, Siemens provides valuable insights that inform its manufacturing and industrial solutions, contributing to responsible infrastructure evolution.
How to become Futures Ready
Every organization is unique and so is their road to futures readiness.
However, there are number of commonalities that help them thrive and make better decisions for the long term:
1.Instilling a futures culture
2.Strengthening foresight capabilities
3.Crafting scenario-based strategies
4.Building continuous futures intelligence
5.Developing anticipatory leadership
As is evident, strategic foresight has become a critical capability for companies aiming to thrive in an increasingly complex and uncertain world.
Futurist-in-Residence. We provide sparring, facilitation, insights, and research as futurists-in-residence, everything need to instill a futures culture and become ready for the futures.
