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How Formalisation And Connectedness Moderate The Effect Of Foresight On Radical Innovation: Empirical Evidence From European Companies

Author

Listed:
  • DJORDJE PINTER

    (Edizon Innovation GmbH, 3300 Amstetten, Austria)

  • KARL-HEINZ LEITNER

    (��AIT Austrian Institute of Technology, Center for Innovation Systems & Policy, Giefinggasse 4, 1210 Vienna, Austria‡University of Graz, Center of Entrepreneurship and Applied Business Studies, Elisabethstrasse 50b/II, 8010 Graz, Austria)

  • FIONA MARIA SCHWEITZER

    (�Grenoble Ecole de Management, 38000 Grenoble, France)

Abstract

While strategic foresight is relevant for radical innovation, many companies fail to produce radical innovation despite blown-up foresight units. We take into consideration the extent of formalisation and social connectedness in a firm to consider how they moderate the effect of strategic foresight on a firm’s ability to produce radical innovations. In a multi-industry study among 212 European companies, we find that formalisation and connectedness interact to enhance the effect of strategic foresight on radical innovation. When formalisation and connectedness are both high, they jointly improve a firm’s ability to use strategic foresight to produce radical innovation. When social connectedness is low, high formalisation, however, reduces a firm’s ability to turn foresight action into radical innovation. We discuss these findings relative to the controversial role of formalisation in radical innovation and provide managerial advice based on our findings.

Suggested Citation

  • Djordje Pinter & Karl-Heinz Leitner & Fiona Maria Schweitzer, 2022. "How Formalisation And Connectedness Moderate The Effect Of Foresight On Radical Innovation: Empirical Evidence From European Companies," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 26(08), pages 1-25, October.
    • Handle: RePEc:wsi:ijimxx:v:26:y:2022:i:08:n:s1363919622500591
    DOI: 10.1142/S1363919622500591
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