The purpose of this article is to present an overview of the area of strategic forecasting and its research directions and to put forward some ideas for improving management…
Abstract
Purpose
The purpose of this article is to present an overview of the area of strategic forecasting and its research directions and to put forward some ideas for improving management decisions.
Design/methodology/approach
This article is conceptual but also informed by the author’s long contact and collaboration with various business firms. It starts by presenting an overview of the area and argues that the area is as much a way of thinking as a toolbox of theories and methodologies. It then spells out a number of research directions and ideas for management.
Findings
Strategic forecasting is seen as a rebirth of long range planning, albeit with new methods and theories. Firms should make the building of strategic forecasting capability a priority.
Research limitations/implications
The article subdivides strategic forecasting into three research avenues and suggests avenues for further research efforts.
Practical implications
The article provides five examples of ideas that may enable managers to analyze and understand the future of their firm’s environment, thus improving investments in a wide variety of areas.
Originality/value
This article’s contribution is a relatively novel way of theorizing within a somewhat neglected area. It also suggests several new practical ideas that may improve management decisions.
Details
Keywords
This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.
Abstract
Purpose
This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.
Design/methodology/approach
This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.
Findings
Strategic forecasting is seen as a rebirth of long-range planning, albeit with new methods and theories. Firms should make the building of strategic forecasting capability a priority.
Practical implications
The paper provides strategic insights and practical thinking that have influenced some of the world’s leading organizations.
Originality/value
The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.