Hindsight-insight-foresight: a strategic combination for enterprises in a VUCA world

Chauhan, Aseem; Joshi, Manoj; Kumar, Ashok; Abidi, Suhayl; Dhiraj, A.

doi:10.1504/ijttc.2020.106638

Cited by 4 publications

(4 citation statements)

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“…Foresight can be referred as the ability to understand future (Csaszar and Laureiro-Martinez, 2018) by the firms to generate maximum profits by anticipating the value that the resources will generate once brought to the market (Barney, 1986). Strategic foresight embedded in hindsight–insight combination (Chauhan et al , 2020) offers sighting the future through today’s lens. The use of foresight, or futures studies, is well documented in the literature; however, specific details about the results of foresight activities often need to be culled out, as strategic foresight efforts are mostly undertaken in concealment (Hammoud and Nash, 2014) from competition to ensure maximum leverage for the venture concerned (Daheim and Uerz, 2008), and they impose a direct impact on activities like innovation, marketing, profit-making and strategic planning of the business (May, 2009).…”

Section: Strategic Foresightmentioning

confidence: 99%

“…In the context of energy transition, thinking aligned to the themes for future, fostering equity and inclusion for the bottom of the pyramid communities could act as a precursor for strategic foresight deployment by entrepreneurial firms. Loveridge (2002), in the conceptualisation of the STEEPV framework, stresses the need to look at exogenous factors that influence trends in some forms, using hindsight–insight combination (Chauhan et al , 2020) to interpret events and crafting foresight (Courtney, 2001; Loveridge, 2008) strategies for future pathways. The six themes for thinking about future as outlined in the STEEPV framework and their mapping with the cases of ABE and HPS discussed in this paper are presented as the learnings for drawing conclusions on future readiness arrived at by these entrepreneurial firms.…”

Section: Findings and Conclusionmentioning

confidence: 99%

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Strategic foresight of entrepreneurial firms in energy transition

Datta

Joshi

Gandhi³

2023

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Purpose The purpose of this study is to explore the principal research query and whether strategic foresight deployed by entrepreneurial firms in energy transition aims at crafting future readiness. Design/methodology/approach With a focus on entrepreneurial firms working in the alternative energy segment in the Indian context, the intent is to examine the deployment of strategic foresight by incumbent firms and their entrepreneurial journey. The authors have adopted the approach of Eisenhardt for this research. The area of interest for the authors entailing strategic foresight by entrepreneurial firms in energy transition aligns with defining features reflecting the aim of Eisenhardt method for this exploratory research coupled with constructivism. Findings While the future scenarios in the energy sector have to be necessarily multiple, their alignment with different geographic, economic, demographic and political outlooks shall be defined by the pathways niched through the deployment of strategic foresight for arriving at those scenarios. Research limitations/implications Strategic foresight deployed by entrepreneurial firms has the potential to create future readiness through self-reliant sustainable economic value chains for local populace, thus propagating holistic development in remote regions. Originality/value This paper attempts to knit together the domains of strategic foresight, entrepreneurial firms and energy transition through case research and present the future thinking deployed for navigation in uncharted pathways by capturing the foresight component of these incumbent firms chosen through careful case selection. The narrative has been strengthened by the varied interviews across participants and the observations made by the authors during the research work.

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Section: Strategic Foresightmentioning

confidence: 99%

Section: Findings and Conclusionmentioning

confidence: 99%

Strategic foresight of entrepreneurial firms in energy transition

Datta

Joshi

Gandhi³

2023

Self Cite

View full text Add to dashboard Cite

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“…Organizational culture informs its ability to change and its agility to respond quickly. A compelling story that makes the case for change internally and externally contributes to the success of change management and is critical for leaders to thrive and communicate effectively [24], [25], [26], [27].…”

Section: Introductionmentioning

confidence: 99%

Bibliometric Analysis of Trends in Theory-related VUCA Publications

Malik

2023

TSSJ

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This study aims to determine the results of the research development on Volatility, Uncertainty, Complexity and Ambiguity (VUCA) based on the Scopus database analysed in 2012-2022 with Bibliometric analysis with VOSViewer. The research theme Innovation and Leadership had the highest attention with a percentage of 16%.. Next showed that there were seven main themes that focused on four major themes: leadership, leaders, management, and environment, with the correlation and connectedness of the results of the Cluster Analysis based on the Coefficient value.

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“…The importance of co-creation activities in advance of innovation in different types of firms has been highlighted in many research studies [1][2][3][4][5][6][7][8][9][10][11][12][13][14]. These types of activities consider customers as a vital resource for enterprises to grow and compete in the volatile, uncertain, complex, and ambiguous (VUCA) world [15][16][17][18][19]. It has become crystal clear that customer engagement in all the activities of the firms-including production, distribution, new product and service development, and similar ones-could improve the profitability of these firms [20][21][22][23][24][25][26][27][28] and, more importantly, the sustainability of the firm business in the hostile business environment.…”

Section: Introductionmentioning

confidence: 99%

Investigating the Role of Customer Co-Creation Behavior on Social Media Platforms in Rendering Innovative Services

et al. 2020

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The emergence of social media platforms as the main representatives of Web 3.0 applications significantly impacts the co-creation activities among enterprises, customers, and other stakeholders, and has enabled firms to benefit from creativity and ideas of their users and customers for developing and rendering innovative services. This study aims to investigate how the co-creation activities of users on social media platforms have an effect on the enterprises’ innovative services. For this purpose, the authors surveyed customers of innovative services who used social media platforms to meet their needs from the enterprises that innovatively offer such services. An online questionnaire was designed and distributed among the sample of customers, and 505 completed questionnaires were analyzed following the PLS-SEM approach. The findings revealed that customer citizenship behavior and customer participation behavior on social media platforms positively affect the rendering of innovative services. Findings also highlighted that an increase in social co-creation activities, as moderator, positively affects customer citizenship behavior on service innovativeness, and negatively affects customer participation behavior on service innovativeness. The findings of this research could be useful for entrepreneurs and managers of the enterprises that offer innovative services to efficiently use social media tools to benefit from the customers’ co-creation activities and to perform more competitively and sustainably in a hostile business environment.

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Hindsight-insight-foresight: a strategic combination for enterprises in a VUCA world

Cited by 4 publications

References 0 publications

Strategic foresight of entrepreneurial firms in energy transition

Strategic foresight of entrepreneurial firms in energy transition

Bibliometric Analysis of Trends in Theory-related VUCA Publications

Investigating the Role of Customer Co-Creation Behavior on Social Media Platforms in Rendering Innovative Services

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