Tomorrow is already here: exploring how corporate foresight can contribute to ambidexterity

Paul Trott, Patrick Van Der Duin, Giacomo Marzi

Research output: Contribution to journalArticlepeer-review

Abstract

Corporate foresight involves strategically exploring multiple potential futures and serves
as a tool to guide organizational decision-making processes. Despite its significance, a
predominant focus on immediate, short-term issues often characterizes the operational
mindset of many companies. As a result, companies frequently encounter challenges in
achieving organizational ambidexterity—the ability to balance and leverage both the
exploitation of current capabilities and the exploration of new opportunities in the
future. In this paper, we propose a theoretical investigation of corporate foresight. We
develop a conceptual framework that delineates different relationships between corpo-
rate foresight and organizational ambidexterity, providing a structured approach to
understand how these concepts interact and influence each other. Our framework pro-
poses three ways corporate foresight can significantly enhance ambidexterity within
organizations. First, corporate foresight can be pivotal in identifying and analyzing
future trends and disruptions, which can inform strategic decision-making. Secondly,
corporate foresight can better align an organization's long-term strategic goals and
short-term operational objectives, thus enhancing ambidexterity. Finally, corporate fore-
sight can bridge different organizational units, promoting collaboration and knowledge
sharing, aiding in developing a holistic approach to strategic planning that encompasses
daily operational excellence and future-oriented strategic posture.
Original languageEnglish
Pages (from-to)187-200
JournalStrategic Change
Volume33
Issue number3
Early online date4 Mar 2024
DOIs
Publication statusPublished - 2 May 2024

Keywords

  • ambidexterity
  • corporate foresight
  • exploitation
  • exploration
  • Innovation
  • strategy

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