Strategic foresight capability as an enabler of management innovation

Abstract

Purpose. To investigate strategic foresight capability and its role in enabling the process of management innovation.

Approach. The research follows a narrative literature review, divided into three phases, during which the key topics – strategic foresight, management innovation and managerial cognition – are researched for their potential interaction.

Findings. Each individual has an innate capability for foresight. In organisations, strategic foresight capability is developed and sustained by both managers and employees. Managerial cognition is the basis for developing strategic foresight capability; therefore, it is vital for it to be addressed prior to reviewing the application of strategic foresight. Well-developed strategic foresight capability acts as an enabler for management innovation, which, in turn, ensures an organisation’s sustainability. The research identified a connection between strategic foresight capability and management innovation.

Value. This conceptual paper investigates strategic foresight capability and its role in the process of delivering management innovation. The study has set a basis for further research towards defining strategic foresight capability in the context of managerial dynamic capability. In particular, this is true for organisations that have a long history and are thus exposed to the challenges of upcoming business environment changes.