Corporate foresight and innovation management: A portfolio-approach in evaluating organizational development

von der Gracht H, Vennemann CR, Darkow IL (2010)

Publication Language: English

Publication Type: Journal article, Original article

Subtype: other

Publication year: 2010

Journal

Futures Elsevier

Book Volume: 42

Pages Range: 380-393

Journal Issue: 4

URI: http://www.sciencedirect.com/science/article/pii/S0016328709001979

DOI: 10.1016/j.futures.2009.11.023

Abstract

The transition from a traditional industry-driven economy to a knowledge-based economy requires new concepts and methods for companies to sustain competitive advantage. Here, academia has identified corporate foresight and innovation as key success factors. While, content-wise, the contribution of futures research methods to the innovation process has already been researched, this study strives to explore the status quo of organizational development stages of both concepts. To do so, we developed a portfolio-approach, the so-called ‘Future-Fitness-Portfolio’, which enables companies to qualitatively compare amongst others and identify organizational improvement potential. In addition, we conducted expert interviews to explore future organizational development trends in corporate foresight and innovation management. As our research revealed, five strategic clusters can be identified within the portfolio. Consequently, we propose specific strategies for each individual cluster. We conclude that there will be two main organizational development trends for corporate foresight and innovation management in the future: in traditional industries with conventional business models and long product-life-cycles, companies will follow a different development path than companies in dynamic industries with innovative business models and short product-life-cycles.

Authors with CRIS profile

Heiko von der Gracht Lehrstuhl für Betriebswirtschaftslehre, insbesondere Supply Chain Management

Involved external institutions

Universität Bremen DE Germany (DE)

How to cite

APA:

von der Gracht, H., Vennemann, C.R., & Darkow, I.-L. (2010). Corporate foresight and innovation management: A portfolio-approach in evaluating organizational development. Futures, 42(4), 380-393. https://doi.org/10.1016/j.futures.2009.11.023

MLA:

von der Gracht, Heiko, Christoph Robert Vennemann, and Inga-Lena Darkow. "Corporate foresight and innovation management: A portfolio-approach in evaluating organizational development." Futures 42.4 (2010): 380-393.

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