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Building new social capital with scenario planning

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  • Lang, Trudi
  • Ramírez, Rafael

Abstract

Practitioners have observed that scenario planning contributes to building new social capital. In scenario planning terms, new social capital can provide access to new information, novel strategic options and unprecedented collaborative opportunities. However, there is no description or explanation in the literature as to how scenario planning can build new social capital. Reporting on research into the scenario planning process of two organizations, we find that scenario planning generates new social capital through learning with the conceptual future, which is a direct investment in building new shared systems of meaning – the cognitive dimension of social capital. This then enables the structural and relational dimensions of new social capital to emerge as by-products. The building of new social capital provides another purpose for scenario investments and another quality criterion by which to assess the value of these interventions. The insights of the research will be of interest to: scenario planning scholars; leaders interested in how to purposefully design and conduct scenario planning if a core intent is to build new social capital; and scholars interested in the cognitive dimension of social capital and its creation.

Suggested Citation

  • Lang, Trudi & Ramírez, Rafael, 2017. "Building new social capital with scenario planning," Technological Forecasting and Social Change, Elsevier, vol. 124(C), pages 51-65.
    • Handle: RePEc:eee:tefoso:v:124:y:2017:i:c:p:51-65
    DOI: 10.1016/j.techfore.2017.06.011
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    6. Li, Stacey & Modi, Pratik & Wu, Meng-Shan (Sharon) & Chen, Cheng-Hao (Steve) & Nguyen, Bang, 2019. "Conceptualising and validating the social capital construct in consumer-initiated online brand communities (COBCs)," Technological Forecasting and Social Change, Elsevier, vol. 139(C), pages 303-310.
    7. Wong, Amy & Lee, Marcus, 2022. "Building engagement in online brand communities: The effects of socially beneficial initiatives on collective social capital," Journal of Retailing and Consumer Services, Elsevier, vol. 65(C).
    8. Matthew J. Spaniol & Nicholas J. Rowland, 2019. "Defining scenario," Futures & Foresight Science, John Wiley & Sons, vol. 1(1), March.
    9. Yuliani Suseno, 2018. "Disruptive innovation and the creation of social capital in Indonesia’s urban communities," Asia Pacific Business Review, Taylor & Francis Journals, vol. 24(2), pages 174-195, March.
    10. Mirzabeiki, Vahid & Saghiri, Soroosh Sam, 2020. "From ambition to action: How to achieve integration in omni-channel?," Journal of Business Research, Elsevier, vol. 110(C), pages 1-11.

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