Future-Oriented skills in strategic decision-making

Pahlavanyali Nariman (2024) Future-Oriented skills in strategic decision-making. Prosperitas, 11 (4). pp. 1-17. ISSN 2786-4359 (Online)

Preview

Text
future-oriented-skills-in-strategic-decision-making-a-case-study-of-a-leading-technology-firm-253.pdf - Published Version
Download (420kB) | Preview

Official URL: https://prosperitas.uni-bge.hu/

Abstract

This study explores the impact of future-oriented skills on the strategic decision-making and business performance of a leading technology firm in a volatile, uncertain, complex, and ambiguous (VUCA) business environment. Hines’ Foresight Outcomes Framework was utilized to analyse this impact. Data collection was conducted through a semi-structured interview and documentary analysis. Codes and themes were identified systematically by using NVivo as an initial tool, and the date were later manually refined through Braun and Clarke’s six-phase approach. The findings revealed that foresight and adaptability are critical aspects in navigating market trends and driving innovation. The outcomes further demonstrated that proactive leadership, market trend awareness, and user-focused product adaptation significantly influence a firm’s resilience in a VUCA environment. Moreover, it was suggested that the integration of foresight into strategic planning processes promotes a continuous learning culture that is crucial for a sustainable competitive advantage for firms. This study tries to fill the gap in the literature by offering valuable insights for businesses aiming to succeed in a dynamic environment through providing empirical evidence on the practical application of future-oriented skills in strategic management processes.