Relevance of Backcasting as a Strategic Tool Towards Organisations' Sustainable Future – A Key to Thrive in the VUCA World

Abstract

Purpose: The business world has become more turbulent than ever. Organisations must be proactive to meet the challenges of the increasingly disruptive, dynamic, and unpredictable world. One technique that has supported leaders and organisations under challenging circumstances is ‘backcasting’, which works by envisioning a desirable future state and then working backwards to attain it. The current study aims to extend an understanding of the backcasting practices and strategic approaches that can be used by leadership teams in different industries in order to survive in turbulent times and can be adapted within and beyond any pandemic.

Methodology: The research employs a desktop research method to review and compare the most commonly used strategies that leaders from different sectors can use for their respective organisations to thrive in the VUCA world.

Findings: There needs to be more research on the applicability and relevance of backcasting that the leaders of different sectors can employ. The study would provide insights that would bridge the existing research gap and come up with suitable strategies that can be employed for dealing with VUCA challenges in the Indian context.

Significance: The outcome of the study will be helpful to the leaders in designing and aligning ‘out of the box’ backcasting strategies to survive in the highly disruptive world.

Citation

Kalra, R., Vazirani, K., Kadam, S. and Verma, D. (2024), "Relevance of Backcasting as a Strategic Tool Towards Organisations' Sustainable Future – A Key to Thrive in the VUCA World", Singh, D., Sood, K., Kautish, S. and Grima, S. (Ed.) VUCA and Other Analytics in Business Resilience, Part A (Emerald Studies in Finance, Insurance, and Risk Management), Emerald Publishing Limited, Leeds, pp. 39-58. https://doi.org/10.1108/978-1-83753-902-420241002