TOPIC
Integrate the elements of the course by demonstrating the ability to understand strategic foresight and its application to business strategy, to analyse and evaluate future strategic directions at an organisation level
MORE INTRUCTIONS TO THE TOPIC
Getting ready: 1. Select an organisation. This may be an organisation that you know, are familiar with or are interested in; it could be the organisation that you currently or previously worked for. Anonymise if you feel it is necessary. 2. Select one of the Sustainable Development Goals (SDGs) that has or is likely to have a significant impact on the strategy of the organisation now or in the future. 3. Select a framework from the course material from either Business futures or Technology Futures sessions taught by Dr Jill Bogie and Prof Manoj Chiba. Explain and describe: 2 steps 1. Explain the relevance of the 3 choices you have made above. 2. Describe the selected framework with reference to literature. The framework is used to structure the evidence and the analysis. Use it systematically. Analysis: 3 steps 3. Source publicly available information from at least 3 different sources* to populate and build the framework. This is your evidence so provide adequate and relevant details of each dimension of the framework and do not limit your answer to a diagram or graphic. Make sure you include all evidence you need for the analysis in step 4. 4. Analyse the evidence by (a) comparing it systematically to each of the dimensions of the framework then (b) use the comparisons to interpret/make sense of the analysis by asking: What does this mean? 5. Conclude by providing some high-level recommended actions for the organisation, derived from the analysis (i.e. do not add additional evidence in the conclusion). Please include all 5 steps in your answer as there are marks for each section. Please check the rubric on Aspire. * This is to strengthen your analysis by triangulating the data/evidence (whether quantitative or qualitative or both) on which it is based. Written submission: Prepare a written report on the above analysis. Maximum 10 pages, including references and annexures, excluding title page. Arial 11, margins 25mm left and right, 1,5 spacing, justified left and right. Please use APA 7th ed. referencing.
COIURSE GUIDE LINE
Subject Overview Strategic Foresight: GIF 851
This module introduces students to strategic foresight and demonstrates the understanding and application of strategic foresight as a useful method to use in complex and uncertain environments to develop robust business strategies. Students will be provided with a diverse range of examples and case studies to illustrate the practicality and relevance of strategic foresight as an essential way of thinking that frames corporate strategy, decision making and strategy execution.
Strategic foresight is a process of anticipating alternative possible, plausible and preferred futures. It is a multidimensional learning process that considers multiple interconnected domains, from global to local, from regional to organisational, from country to community. Strategic foresight is about long-term, futures thinking. It recognises the complex dynamics of business and how the context of business and current operating environments can be used to shape desirable futures.
Students will be introduced to theories, concepts, and frameworks to recognise, assess and propose actions to address intractable organisational problems; systemic challenges and problems faced by organisations; and complex, large-scale challenges.
The course will provide opportunities for students to apply frameworks to:
• understand how multiple futures inform the assumptions for current and future organisational strategies;
• consider alternative ways of understanding business futures to understand the interconnectedness of business, social and environmental issues;
• use systemic approaches and complexity thinking to formulate responses and take meaningful action;
• understand technology futures and how technology can be used to address systemic issues;
• apply appropriate tools and frameworks to identify technological opportunities for business model innovation.
At the end of this course, students should have working knowledge of strategic foresight concepts and practices, including business futures and technology futures, with a view to developing their scholarship in the field.
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Programme Goals and Objectives
Programme Goals
This course will aim to contribute to the student’s achievement of the following Learning Goals:
Learning Goal 1: Corporate strategy theory.
Students will acquire the core knowledge of the main theories and methods of Corporate Strategy.
Learning Objective
Course Outcomes
1.1
1.2
Analyse the current macro-environment of business in order to determine the forces at play, their influences and consequences and the implications thereof for strategy development.
Discern complex and uncertain environments through the use of various strategic foresight methods and approaches.
Understand the context of business at multiple levels and how the understanding of multiple perspectives can inform assumptions and opportunities for future organisational strategies.
Understand strategic foresight concepts and frameworks and emerging technological trends in order to integrate these processes into strategy formulation, strategic decision making and strategy execution
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Learning Goal 2: Problem solving and critical thinking.
Students will be able to identify, critically assess and interpret a business problem or opportunities and propose innovative and relevant solutions.
Learning Objective
Course Outcomes
1. 2.1 Demonstrate the ability to identify strategic business problems or opportunities.
2. 2.2 Demonstrate data gathering, critical analysis and interpretation skills to solve strategic business problems or opportunities.
Apply strategic foresight frameworks and tools to analyse the context of business at multiple levels in order to develop alternative possible and plausible futures.
Source empirical evidence to support the analysis of possible and plausible futures.
Analyse and evaluate alternative plausible futures to identify preferred futures.
Identify and evaluate alternative technology futures, developments and opportunities that address systemic issues.
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Learning Goal 3: Develop corporate strategy knowledge and theory.
Students will be able to develop knowledge and theory in critically reflexive and novel ways to address practical and theoretical Corporate Strategy problems and opportunities.
Learning Objective
Course Outcomes
1. 3.1 Demonstrate a deep understanding of the context of Corporate Strategy in which research takes place.
2. 3.2 Critically analyse and evaluate secondary or empirical evidence to formulate solutions to proposed questions.
Understand when and how to apply strategic foresight, business futures frameworks and emerging technological trends to inform strategy, strategic decision making and strategy execution.
Understand the interconnectedness of global, regional, country and organisational factors and how assumptions, factors and emerging trends in these multiple contexts inform strategy, strategic decision making and strategy execution.
Analyse, synthesise and evaluate empirical evidence to develop meaningful strategic actions to support plausible futures at the industry and organisational level and incorporate technological developments to address systemic issues