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Networking as a Route for Corporate Foresight in SMEs

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  • Agné Paliokaité

    () (ISM, University of Management and Economics, Vilnius, Lithuania)

Abstract

Purpose. In this paper, I argue that corporate foresight can play the important role not only for large multinational companies, but also for small and medium sized enterprises (SMEs). Rohrbeck et al (2010) proposed that effective corporate foresight can be organized without a process model but with certain capabilities and activities. In this paper it is hypothesized that the latter approach could be suitable for SMEs. Furthermore, it is hypothesized that organizational future orientation of an SME can be also enhanced by engaging in networks with other stakeholders. Therefore, the paper aims to explore the different routes to enhance corporate foresight capabilities in SMEs. The fundamental research question addressed in this paper is: what are the key corporate foresight capabilities and how can these capabilities be built in small and medium sized enterprises (SMEs) to enhance strategic thinking and future orientation in these companies? More specific objectives are: (1) To establish what the key capabilities within the corporate foresight practices are; (2) To establish what kind of value contributions can be expected from corporate foresight; (3) Based on research results, to propose a benchmarking framework of CF capabilities with a distinction between different routes SMEs can take for achieving higher value associated with CF. (4)To propose how the variables in the networking route could be measured. The analysis in this paper is comprised of three main parts. The first part is to formally establish the need for corporate foresight capabilities in the Lithuanian high technology SMEs. The second part, which is the crux of this paper, is to propose the benchmarking framework for corporate foresight in SMEs, following three different routes: structural approach, cultural approach, networking approach. The third part provides conclusions and discussion.

Suggested Citation

  • Agné Paliokaité, 2010. "Networking as a Route for Corporate Foresight in SMEs," IET Working Papers Series 10/2010, Universidade Nova de Lisboa, IET/CICS.NOVA-Interdisciplinary Centre on Social Sciences, Faculty of Science and Technology.
  • Handle: RePEc:ieu:wpaper:31
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    File URL: http://run.unl.pt/handle/10362/5999
    File Function: First version, 2010
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    References listed on IDEAS

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    1. Mockaitis, Audra I. & Vaiginiene, Erika & Giedraitis, Vincent, 2006. "The internationalization efforts of lithuanian manufacturing firms--strategy or luck?," Research in International Business and Finance, Elsevier, vol. 20(1), pages 111-126, March.
    2. Charles HARVIE & Dionisius NARJOKO & Sothea OUM, 2010. "Firm Characteristic Determinants of SME Participation in Production Networks," Working Papers DP-2010-11, Economic Research Institute for ASEAN and East Asia (ERIA).
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    Cited by:

    1. Konstantin Vishnevskiy & Dirk Meissner & Olga Egorova, 2015. "Foresight for SMEs: How to Overcome the Limitations in Small Firms?," HSE Working papers WP BRP 45/STI/2015, National Research University Higher School of Economics.

    More about this item

    Keywords

    Corporate foresight; networking; SMEs; weak signals; weak tie networks; strong tie networks; Lithuania;

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D85 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Network Formation
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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