Every business that aspires to grow has a detailed strategic plan on how they plan to pursue this venture. This process entails analyzing, measuring, gauging your competition and setting an adequate plan for success. But a strategic plan in today’s business is just not enough for sustainable growth.
Strategic plans typically have a goal to sell more, find a competitive edge or increase revenue. Rarely do leaders share their vision or the direction that they want to take the company for a viable future.
Yet, what you need is a strategic foresight plan that gives you a bird’s-eye-view of where your business is today and the ability to forecast its future. It’s like using a crystal ball to create long-term (10-15 years) scenarios that concentrate on all areas of your company.
The idea is that the company can anticipate probable futures and forecast and develop a preferred intention. This desired future will then be merged into the current short-term (3-5) strategic plan. These are factors that may change and impact your business.
A strategic foresight plan positions you to forecast the direction your industry is going and be able to prepare for threats or seize opportunities. It is about contemplating possible and probable futures. It helps you to examine not just your industry but across other industries, which are relevant to innovation.
Foresight strategies help design well thought out methods that are simple but can help you achieve high-level goals despite the uncertain conditions. What you want is a tangible that anticipates and creates your desired future.
The key is to effectively and efficiently create a strategic foresight plan. Fortune 500 companies apply these methods, but small businesses can be even more successful, because they do not need to go through all of the bureaucracy to get things done.
Present-day experts are recognizing the need to use breakthrough ideas to secure their business’ future by applying strategic foresight planning. They are looking to forecast the direction their industry is going, as well as monitoring other industries for the potential impact they may have on their business.
There are three basic elements strategic foresight planning looks at:
- Scan for trends in your industry and the direction it’s going
- Create possible scenarios in your industry
- Create the strategic foresight plan that will position you to create your desired future
The future of your business does NOT have to be a mystery. You can actually create it and design this possible future and prepare for sustainable growth.
The purpose of strategic foresight planning is to prepare your company to be sharp and swift for this era of rapid change. FEMA has applied strategic foresight planning and they state:
“By understanding the potential future environment, organizations can better understand and anticipate risk and take advantage of opportunities. This information can support decisions about investments, planning efforts, and exercises.”
Developing strategic foresight plans in today’s business is essential. We are offering you a 3 Step FREE 15-minute consultation with Dr. Nilda Perez, a Futurist and Business Foresight Strategist. You will discover if your business can benefit from preparing itself for a sustainable future.
Partner in Your Success,