Strategic Foresight

Future Scenario Planning | Desirable Future Mapping | Action Areas

What is Strategic Foresight?

It is impossible to predict the future. But there are strategic methods and tools to deal with uncertainties and become better at anticipating what may come. In today’s world, with an accelerating pace of change and developing crises such as global warming, uncertainty is growing exponentially. It is therefore more important than ever to prepare for the future – to get future ready.

Strategic Foresight means being prepared for the future by turning uncertainty into an advantage. This is done by proactively projecting the future and building your strategy accordingly. As a result, we can transform uncertainty into a positive mindset focused on growth and opportunity.

The Importance of Strategic Foresight for Your Business

As the business landscape continues to evolve rapidly, being future-ready is critical for success. You want to understand the key drivers that are crucial for the future of your industry and act upon them. By identifying and mitigating risks early on, businesses can build resilience and adapt to change more effectively.

Future Foresight allows you to anticipate future changes and new market opportunities, giving you the edge over your competition. A recent benchmark by Harvard Business Review highlights the key characteristics of future ready companies. These businesses invest in innovation, continuously monitor emerging trends, and actively seek out opportunities for growth. By doing so, they build resilience and can adapt quickly to changing market conditions. Companies that invest in Future Foresight initiatives are better equipped to manage risk, stay ahead of the curve, and achieve long-term success.

Our Approach to Strategic Foresight

HYVE approaches Strategic Foresight holistically. As we plan for the future, the Zoom Approach balances the need to consider the big picture and the details.

During the first step, we develop an idea of the future in 10-20 years by zooming out. We can then see the big picture, recognize connections, and define the future we envision for our business. In the second step, by zooming in to the present and near future, we define what actions and measures need to be taken to reach the desired long-term scenario.

Envision the Future of Your Industry

Future Scenario Planning

During a Future Scenario Planning Workshop, we develop and analyze possible future scenarios. Before the workshop, we conduct research into relevant industry trends using methods such as desk research, immersive social media exploration along the Innovation Radar, and expert interviews. We organize these trends into the STEEP framework to gain a comprehensive view and deeper understanding of their connections. Based on this, the team develops a range of plausible future scenarios during the workshop. Our graphic designers then bring these scenarios to life, highlighting the key drivers that are shaping the future.

2 workshop participants discussing in front of whiteboard with sticky notes

Envisioning the Future

Desirable Future Mapping

In a co-creation workshop, we help you envision desirable future scenarios for your company by building upon the previously established future scenarios. We assist you in determining what type of business can create the most value in the future and what kind of company you’ll need to run to stay competitive in your industry or market over the next decade. Our approach involves asking the right questions to identify key drivers of change, opportunities, threats, and critical success factors. By answering these questions, you can develop a clear vision for your company and understand its implications.

Defining Actionable Opportunity Areas

Backcasting

In the next step, the Backcasting Method shows how to reach a desirable future by working backwards – from the future vision to the present. The goal is to understand how the big picture created in the previous Zoom-Out-Phase impacts different business areas. For example, what initiatives and capacities are needed to prepare for plausible and desirable future scenarios? In a co-creation workshop, we identify actionable opportunity areas with the highest impact on accelerating progress toward the long-term goal. As a result, a roadmap is created with specific milestones and potential challenges.

Several persons placing sticky notes on wall during workshop

Enabling Strategic Innovation

Search Fields

Future Scenario Planning can guide an organization’s long-term business strategy. However, innovation needs to happen on a regular basis. Clearly defined search fields represent near-to-mid-future subject areas in which to innovate and experiment. They enable businesses to innovate in a targeted and strategic way. Future scenarios are a great way to find search fields. Further analysis of trends, technologies and the market along the STEEP framework adds dimension and allows for field prioritization.

Person working with sticky notes during workshop

Strategic Foresight is Team Work

Our team of experts in scenario planning and strategic foresight will work with you to develop a comprehensive understanding of the key drivers shaping the future and translating them into opportunity areas/concrete action fields.

With the right approach, your business can become future ready too! Let us help you navigate the challenges ahead and position your company for growth in the years to come.