Foresight, cognition, and long‐term performance: Insights from the automotive industry and opportunities for future research

We explore the relationship between foresight and managerial cognition and the contribution of foresight to the long‐term performance of organizations facing major sources of uncertainty. Our research setting is the automotive industry, a compelling research setting for illustrating and reflecting upon the role of foresight in strategic decision making, as the industry is currently experiencing major drivers of change and technological discontinuities. We carefully examined the most recent empirical and theoretical works in the field of foresight, by conducting a thorough literature review. We found that scholars and practitioners increasingly emphasize the ability of foresight to change the mental models of senior managers and the role of such ability in the long‐term adaptation to external changes. Overall, our study contributes to the development of a programmatic stream of research in the domain of foresight and future studies.