Networking as a Route for Corporate Foresight in SMEs
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.
|Date of creation:||Oct 2010|
|Contact details of provider:|| Postal: 21 790 83 00 ext. 1218/1488|
Phone: 212948503 ext.10401
Web page: http://www.cics.nova.fcsh.unl.pt/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- 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.
- Audra I.Mockaitis & Erika Vaiginiene & Vincent Giedraitis, 2005. "The Internationalization Efforts of Lithuanian Manufacturing Firms - Strategy of Luck?," Industrial Organization 0502001, EconWPA.
- Audra I.Mockaitis & Erika Vaiginene & Vincent Giedraitis, 2005. "The Internationalization Efforts Of Lithuanian Manufacturing Firms - Strategy Or Luck?," Industrial Organization 0501007, EconWPA.
- 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).
When requesting a correction, please mention this item's handle: RePEc:ieu:wpaper:31. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (António Brandão Moniz)
If references are entirely missing, you can add them using this form.