FORESIGHT MEANS SEEING OPPORTUNITIES

Foresight and innovations

Industry disruptions, technological leaps, emergence of new markets, changes in consumer attitudes and behaviour, and rare and extreme events, such as the coronavirus pandemic, create new opportunities for discontinuous and radical innovations. Foresight helps chart the future operating environment and the innovation opportunities it provides. 

Innovation inevitably involves a certain level of uncertainty and risk. On the other hand, uncertainty related to the development of markets, technologies and industries fuels service, product and business model innovations. Foresight supports innovation by helping identify both emerging opportunities and risks and by broadening decision-makers’ perspective. Foresight is not only about analysing the future but also contributes to building the future. Capful uses a wide range of foresight tools, from scenarios to technology roadmaps.  

BENEFITS OF FORESIGHT IN INNOVATION

Helps anticipate incremental, step and disruptive changes in the operating environment 

Helps renew products, services and business models ahead of competition and before it's too late

Helps challenge and break free of conventional mental and operating models to drive successful innovation 

Provides a better basis for building competitive advantage and proactively influencing company and industry future

Reduces risks arising from relying only on trend forecasts or putting all your eggs in one basket 

Decreases excessive risk aversion, over-optimism, tunnel vision and other types of decision-making biases that can be harmful to innovation

HOW CAN FORESIGHT BE USED TO BOOST INNOVATION?

Alternative future scenarios as innovation platforms

Threat scenarios to challenge current offerings and business operations

Seeking new opportunities outside current business or industry

Seeking ideas in unconventional and unlikely places

Anticipating future customer needs through customer and market analyses

Anticipating technological developments and disruptions

Anticipating industry and business model disruption

Anticipating changing expectations and values among stakeholders

Anticipating regulations that can drive innovation

  • Alternative future scenarios as innovation platforms

  • Threat scenarios to challenge current offerings and business operations

  • Seeking new opportunities outside current business or industry

  • Seeking ideas in unconventional and unlikely places

  • Anticipating future customer needs through customer and market analyses

  • Anticipating technological developments and disruptions

  • Anticipating industry and business model disruption

  • Anticipating changing expectations and values among stakeholders

  • Anticipating regulations that can drive innovation

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