Strategic Foresight is becoming a pivotal concept in corporate strategy discussions. Google search trends over the past five years show a significant rise in interest, reflecting its growing importance and application. Research shows that companies utilizing strategic foresight can enhance their long-term profitability by up to 33% (Rohrbeck, Kum; 2018).

While market and competitive intelligence (MI/CI) has been a cornerstone for staying competitive today, these units often lack the time capacity to dive deep into the newer discipline of strategic foresight. This gap can leave businesses exposed to future disruptions and missed opportunities.

In today’s fast-paced market, identifying trends early and making data-driven decisions is crucial. Neglecting to adopt strategic foresight can leave companies vulnerable to unforeseen risks and challenges. At KnowledgeAgent we can assist you on your way to future profits, offering support throughout the entire strategic foresight process.

The Crucial Role of Market Research in Strategic Foresight

The foundation of every strategic foresight process is market research. This involves a comprehensive understanding of the value chain in emerging markets. From this foundation, we analyse trends in technology, regulations, and customer needs, while also identifying market risks and sustainability opportunities.

By relying on cutting-edge sources and technology, we at KnowledgeAgent are experts in this field, delivering superior research with quick turnaround. Our Horizon Scanning tools and Trend Radars are designed to keep you ahead of the curve by identifying and analysing market and technology trends before they become mainstream.

 

 

Exploring and Quantifying Future Scenarios

Based on comprehensive market research, we can develop scenarios that explore how the future market landscape may evolve. By exploring various future scenarios, we illustrate potential developments and their impacts, helping you monitor key market drivers, identify strategic options, and prepare for different market trajectories.

At KnowledgeAgent, we build market models to forecast future growth across those scenarios. Our approach emphasizes quantification, ensuring you have a solid data foundation for making clear, informed decisions.

Strategic Options: Clear Pathways to Success

Drawing on our analyses and scenario planning, we assess your competitive edge and resilience in the future market landscape. We explore concrete strategic options that equip you to respond effectively to market changes and secure long-term competitiveness.

By continuously monitoring weak signals and trends, KnowledgeAgent provides regular updates, allowing you to follow market developments and shape the future to increase the likelihood of your preferred future scenario.

Maximizing Efficiency through External Expertise

Strategic foresight and corporate strategy units, constrained by limited time, should focus on planning and decision-making. Outsourcing strategic foresight tasks to external experts like KnowledgeAgent enables you to tap into specialized resources, improving both cost-efficiency and knowledge output.

We assist with time-critical research and analysis, easily integrating into your planning processes. Flexibility is at the heart of our strategic foresight approach. Our modular offering allows for tailored solutions, whether you require basic market research support, in-depth scenario analysis and market forecasting, or continuous trend monitoring.

On the right you can download an overview of our strategic foresight offering and a case study analysing the industrial robotics market.

Contact us to learn more about how we can complement your internal teams and help you navigate the complexities of the future market landscape.

 

Sources:

• Futures Platform, Hanna Veltheim, Gökce Sandal, 12/05/2024, The ROI of Strategic Foresight: Picturing the Future Pays Off, https://www.futuresplatform.com/blog/roi-of-strategic-foresight, accessed 04/07/2024

• World Economic Forum, Alex Fergnani, Olivier Woeffray, 19/09/2023, Why corporate foresight matters according to research, https://www.weforum.org/agenda/2023/09/strategic-foresight-research-insights/, accessed 04/07/2024

• World Economic Forum, Amy Webb, 31/01/2024, How true strategic foresight can help companies survive and thrive, https://www.weforum.org/agenda/2024/01/strategic-foresight-help-companies-survive-thrive/, accessed 04/07/2024

• René Rohrbeck, Menes Etingue Kum, Corporate foresight and its impact on firm performance: A longitudinal analysis, Technological Forecasting and Social Change, Volume 129, 2018, Pages 105-116, https://doi.org/10.1016/j.techfore.2017.12.013