STRATEGIC FORESIGHT ABILITY

Phuoc D. Nguyen

Strategic foresight is the ability to look far into the future so that a futurist can plan to view it. It should be expressed in the official statement for a leadership team, a company, or an organization. “Forecast assessment itself may also be done at any length. The aim here is just to sketch the direction in which such analyses may proceed.” (Gordon, 2009). It describes a clear and vivid idealization of the desired result that can inspire those who follow it. It is the most important characteristic of a good leader because it is distinguishable in comparison to the manager. “The primary goal of futuring – the active exploration of future possibilities – is to develop foresight. Foresight might be defined as the ability to make decisions that are judged to be good not just in the present moment but in the long run.” (Cornish, 2004). A huge challenge for strategic foresight is leaders/managers who make a decision based on trends analysis, data, and information to make incorrect decisions, they are generated from forecasts and implications. These decisions are made against a management principle that is decision-making based on exact facts, data, and information.

Strategic foresight is so important because it sets the tendency for others to follow it. It is an idea that can live forever after its creators have passed away. It is something that can be reused to inspire those who are born many years in the future. Canton (2015) defines “Future Smart is about empowering you to adapt, learn, become aware, and understand the trends that will shape your future.” (p. 9). Future smart is a special skill that leaders/managers acquire through their corporate strategic vision experience that is combined with their strategic foresight knowledge and skills, leadership and management sensibility and flexibility, and gifts to adapt and learn from the global business environment and experienced strategic foresight experts aim to understand and analyze trends in global, country, and local business environments that they will shape organizational future.

According to Canton (2015), “Companies and individuals that embrace the challenge of looking ahead, of having the courage to discover and the willingness and openness to understand the trends that may shape the future are usually rewarded with market share, competitive advantage, prosperity, market leadership, and a talented workforce. These are the game changers of the future. They are not just surviving; they are also thriving amid change, even chaos.” (pp. 14-15). Future opportunities are often accompanied by challenges. Without challenges and risks, opportunities will not come. However, to predict challenges and risks in the long run in a minimum timeframe of ten years it is difficult to aim to overcome possible challenges and manage identified risks. The role of the game changers of the future is to change organizational future destiny to predict the future, manage organizational life cycles, and drive future changes and strategies.