Taming the dragon: how to tackle the challenge of future foresight

Abstract

Purpose

The purpose of this paper is to highlight the principles that businesses should (and should not!) follow in their foresight activities and to show how foresight serves the development of knowledge capital in business companies.

Design/methodology/approach

This paper singles out seven key principles: look to the future; anticipate future needs; make use of incomplete knowledge; expect the unexpected; think long‐term and short‐term; dream productively; and respect knowledge.

Findings

This paper highlights the principles that businesses should (and should not!) follow in their foresight activities and to show how foresight serves the development of knowledge capital in business companies.

Originality/value

The paper highlights a recent survey in the USA on how employees understand their job tasks and their organization's goals.

Citation

Wilenius, M. (2008), "Taming the dragon: how to tackle the challenge of future foresight", Business Strategy Series, Vol. 9 No. 2, pp. 65-77. https://doi.org/10.1108/17515630810865671