Corporate Foresight and Performance: Evidence from a Large Empirical Study

Tymen Jissink, Eelko K.R.E. Huizingh, René Rohrbeck

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Abstract

In this paper we develop and validate a measurement scale for corporate foresight and examine its impact on performance. We conceptualize corporate foresight as an organizational ability consisting of five distinct dimensions: information scope, method usage, people, formal organization, and culture. We investigate the relation of corporate foresight with three innovation performance dimensions – new product success, new product innovativeness, and financial performance. We use partial-least-squares structural equations modelling to assess our measurement models and test our research hypotheses. Using a cross-industry sample of 161 innovative firms, we find that corporate foresight can be validly and reliably measured by our measurement instrument. The results of the structural model support the hypothesized positive effects of corporate foresight on all innovation performance dimensions. Implications of our findings, and limitations and future research avenues are discussed.
Original languageEnglish
Publication dateNov 2014
Publication statusPublished - Nov 2014
EventThe ISPIM Asia-Pacific Innovation Forum 2014 - Singapore, Singapore
Duration: 7 Dec 201410 Dec 2014

Conference

ConferenceThe ISPIM Asia-Pacific Innovation Forum 2014
Country/TerritorySingapore
CitySingapore
Period07/12/201410/12/2014

Keywords

  • corporate foresight
  • performance
  • innovation performance
  • financial performance

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