Case Studies: Identifying Foresight Methods and Practices in American Corporate Planning

Foresight involves future-oriented awareness and planning, enabling businesses to respond quickly and effectively to future market threats and opportunities. However, knowledge about corporate foresight practices and outcomes is limited. Corporations interested in implementation are unable to identify best practices or anticipate results from foresight activities. Therefore, this qualitative, multiple holistic case study research became a foundational investigation of foresight phenomenon within contemporary American corporations. A convenience sample of 14 foresight practitioners (i.e., employees and consultants) represented American divisions of domestic or multinational for-profit corporations actively using foresight. Interview queries aligned with the guiding research questions explored perceptions of corporate foresight methods and outcomes. Interview data were coded and synthesized for thematic report of common and unique responses; this documented perceptions of practices used in and outcomes derived from corporate foresight. Foresight practitioners revealed specific actions taken by corporations in response to foresight outcomes. Actions included organizational changes, introduction of new products or product variations, new research and development projects, and inclusion of foresight project outputs (e.g., reports, presentations, recommendations) in departmental plans. Preeminent was proposed standardization of terminology for professional discourse, education, and practice, which would benefit practitioners and corporations. Four tenets emerging from the themes herein (i.e., short-termism, corporate culture, implementation, and feedback loop) were proposed to guide future use of foresight in the context of for-profit corporations.