Strategic foresight for collaborative exploration of new business fields

To ensure long-term competitiveness, companies need to develop the ability to explore, plan, and develop new business fields. A suitable approach faces multiple challenges because it needs to (1) integrate multiple perspectives, (2) ensure a high level of participation of the major stakeholders and decision-makers, (3) function despite a high level of uncertainty, and (4) take into account interdependencies between the influencing factors. In this paper, we present an integrated approach that combines multiple strategic-foresight methods in a synergetic way. It was applied in an inter-organizational business field exploration project in the telecommunications industry.

► We identify success factors for business-field exploration with foresight methods. ► We propose an integrate methodology for exploring new business fields. ► A first pilot application in the telecommunications field is described in detail. ► The application of the methodology is discussed with regard to the success factors.