Department of Management

Corporate foresight as a microfoundation of dynamic capabilities

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DOI

The dynamic capabilities perspective is aimed at explaining how firms achieve and sustain competitive advantages, especially in environments that become volatile, uncertain, complex, and ambiguous (VUCA). In this paper, we combine factors that explain dynamic capabilities on the firm level with factors of dynamic managerial capabilities on the individual level. In addition to the dynamic capabilities theory, we draw on corporate foresight literature to test the impact of corporate foresight training. We find that both the organizational-level practices and the individual-level training of leaders are positively associated with firm-level outcomes. We further observe that this relationship is mediated by dynamic managerial capabilities (i.e., the ability of leaders to challenge current business models, make decisions under uncertainty, and reconfigure organizational resources). Our findings emphasize the importance of training leaders and building organizational corporate foresight practices to build the dynamic capabilities needed in VUCA environments.
Original languageEnglish
Article numbere28
JournalFutures and Foresight Science
Volume2
Issue2
Number of pages11
ISSN2573-5152
DOIs
Publication statusPublished - Jun 2020
Externally publishedYes

    Research areas

  • Corporate Foresight, Dynamic Capabilities, Futures, Microfoundation, peripheral vision, strategic foresight

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