Literature Review of Strategic Foresight and Scenario Planning
LITERATURE REVIEW OF STRATEGIC FORESIGHT AND SCENARIO PLANNING
Introduction
In an increasingly uncertain global economic climate, the challenges facing businesses today have changed significantly over the past few decades, and equally so have academic perspectives and topical management trends.
With consumers becoming more sophisticated and demanding than ever, in addition to technology advancing at such a rapid pace, it appears crucial for leaders of industry to utilize a multitude of business tools and conceptual frameworks in order to maintain viable sustainability.
Examining and exploring the potential external conditions and future possibilities of the global and local market places, in addition to the relevant industry trends is virtually an essential undertaking for any business hoping to survive and succeed in the future.
There are a variety of methodologies and conceptual practices proposed and documented to enable organisations achieve these particular objectives. This document aims to identify and critique the vast array of academic literature upon the specific topics of scenario planning and strategic foresight, including the key themes and chronological developments.
Illustrating the academic progression, exploring the significance of the historic and contemporary approaches and international theoretical differences, assessing their pertinent effectiveness and providing relevant recommendations for implementation are the primary objectives of this paper.
This manuscript provides a detailed academic review of the relevant literature, including an investigative analysis, critical evaluation and coherence synthesis of the tensions and developments between these two particular approaches to strategic management.
The structure of this paper consists of detailed appropriate definitions of the chosen terms, a brief exploration of the related background, a series of analytical evaluations of relevant academic journals upon the concurring
Introduction
In an increasingly uncertain global economic climate, the challenges facing businesses today have changed significantly over the past few decades, and equally so have academic perspectives and topical management trends.
With consumers becoming more sophisticated and demanding than ever, in addition to technology advancing at such a rapid pace, it appears crucial for leaders of industry to utilize a multitude of business tools and conceptual frameworks in order to maintain viable sustainability.
Examining and exploring the potential external conditions and future possibilities of the global and local market places, in addition to the relevant industry trends is virtually an essential undertaking for any business hoping to survive and succeed in the future.
There are a variety of methodologies and conceptual practices proposed and documented to enable organisations achieve these particular objectives. This document aims to identify and critique the vast array of academic literature upon the specific topics of scenario planning and strategic foresight, including the key themes and chronological developments.
Illustrating the academic progression, exploring the significance of the historic and contemporary approaches and international theoretical differences, assessing their pertinent effectiveness and providing relevant recommendations for implementation are the primary objectives of this paper.
This manuscript provides a detailed academic review of the relevant literature, including an investigative analysis, critical evaluation and coherence synthesis of the tensions and developments between these two particular approaches to strategic management.
The structure of this paper consists of detailed appropriate definitions of the chosen terms, a brief exploration of the related background, a series of analytical evaluations of relevant academic journals upon the concurring