The art of entrepreneurial foresight

Emilio Fontela (Dean of the Faculty of Law, Economics and Business Administration at the Universidad Antonio de Nebrija, Madrid, Spain.)
Joaquín Guzmán (Applied Economics Professor at Universidad de Sevilla, Sevilla, Spain.)
Marybel Pérez (Teacher, at the Universidad Antonio de Nebrija, Madrid, Spain.)
Francisco Javier Santos (Professor, at Universidad de Sevilla, Sevilla, Spain.)

Foresight

ISSN: 1463-6689

Publication date: 1 November 2006

Abstract

Purpose

This paper aims to present an analysis of entrepreneurial activities that emphasises anticipation and the art of future exploration; in so doing, it identifies important aspects of entrepreneurship as aesthetic or creative activities.

Design/methodology/approach

After a short synthesis of the main entrepreneurial functions in terms of decision making in the financial sphere, the managerial sphere, and the “booster” sphere, the paper concentrates on the qualities required for a successful “booster” function (motivation, ambition, innovation, cooperation, proactiveness). Because proactiveness and innovation both require futures thinking and creativity, the paper presents relevant material from the literature on long‐term foresight to establish the artistic aspects of these important components of entrepreneurial activities.

Findings

The paper's linking of entrepreneurial functions to the capacity for anticipation establishes the need for entrepreneurs to acquire competencies (in the area of forecasting) that are usually associated with artistic endeavours.

Practical implications

There is an urgent need for university curricula to include material that is oriented towards the training of entrepreneurs. This should include specific courses on creativity and forecasting.

Originality/value

The recognition that key entrepreneurial functions (proactiveness and innovation) are more art than science, and that they therefore require a set of operational tools, is relatively novel in the current literature on entrepreneurial (and managerial) functions, and opens a research field in business decision making.

Keywords

Citation

Fontela, E., Guzmán, J., Pérez, M. and Santos, F.J. (2006), "The art of entrepreneurial foresight", Foresight, Vol. 8 No. 6, pp. 3-13. https://doi.org/10.1108/14636680610712496

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Publisher

:

Emerald Group Publishing Limited

Copyright © 2006, Emerald Group Publishing Limited

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