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This learn investigates the relationships among company foresight and administration decision-making techniques in corporations. It presents an in depth research of extant theories of company foresight and strategic administration, brings in new insights, and offers an in-depth case learn exploration of company foresight of a eu financial institution.
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Additional info for Corporate Foresight and Strategic Decisions: Lessons from a European Bank
Bell, 2004, p. 319) 16 Corporate Foresight and Strategic Decisions This rather general deﬁnition does not provide any evaluation of what is meant by ‘value-free’ science, be it academic or professional. Some authors criticize the attempt to characterize futures studies as a disciplinary ﬁeld. Marien (2002a) repudiates the labelling of ‘futures studies’ as a scientiﬁc ﬁeld, arguing that, if one wishes to deﬁne futures studies, it should, rather, be seen as a multidisciplinary ﬁeld. The difﬁculty of categorizing futures studies as a science is also related to the fact that this subject does not create knowledge, which, according to Plato’s classical deﬁnition, means the same as justiﬁed true belief (Niiniluoto, 2001).
Whereas it had hitherto been assumed that only one future existed, representing something that was still to come (Cuhls, 2003b), De Jouvenel introduced the concept of several futures, which he called ‘futuribles’. The concept of futuribles aims at characterizing the (un)certainty which lies in the future, by distinguishing between possible states of affairs and those which are not possible. According to De Jouvenel (1967), plausible and imaginable future events, which are simply projections from the present state, are obsolete based on the fact that improvements in technology tend to be ignored – these improvements would allow futures to realize what seems impossible from the present point of view.
Adjectives such as applied, intended and speciﬁc further deﬁne the concept. ii) In contrast, corporate foresight is built upon strategic foresight while maintaining a holistic and dispersed view of organizational reality. This means that corporate foresight includes all activities within the organization, and the task of corporate foresight is to understand the future in the long run. Although a large overlap between corporate and strategic foresight appears to be evident at ﬁrst glance, the actual difference between the two lies in corporate foresight’s deﬁnition to accept all the organization’s future processes as important for an overall strategy.