Criticality of Strategic Foresight Elements in Business Leadership and Organizational Decision Making

Plethora of factors, including heightened connectivity, unimaginable automation, shifting demographics, rising consumption, and the myriad of global forces, have created a terrain where business leaders need to act, plan, and decide with an influence that is far more powerful than the influence needed to steer organizations within a standardized and predictable environment. Strategic foresight permits decision makers and practitioners to handle change through integration and acceptance that the nature of change and the velocity of disruptions are significant, demanding the creation of appropriate policies and executing them with a determined focus. The research explores critical elements of strategic foresight: creation of value and purpose setting, cultural adaptability, people integration, leadership styles, and synthesizing information from literature. Perusal of the literature, an investigation into the corpus of knowledge, enables the research to advance comprehension regarding distinct intrinsic elements that amalgamate, enhancing the efficacy of business leaders in their vision and mission to implement strategic foresight in business functions. Change phenomena and transformation are not new; however, the variability, on many occasions, the incomprehensibility arising from how combining and conflicting factors create changing and alternative futures, increases the inevitability of strategic foresight operationalization. Through an investigative process fathoming insights from literature, the research forwards strategic foresight, which capacitates business leaders to navigate changing circumstances with an unwavering will in the face of constant variations.