4.5 Applying foresight to develop new products, services, or technologies
Applying foresight strategies
Introduction to foresight-Driven Development
- The Role of foresight in Shaping Product and Service Strategies
- Discussion on the importance of foresight in identifying emerging opportunities and risks in the market
- Examination of how foresight integrates with strategic planning to create innovative, future-proof products and services.
- Anticipating Future Trends and Customer Needs
- Overview of methods to systematically explore and interpret signals of future trends.
- Techniques for gathering and analyzing data on evolving customer behaviors, preferences, and needs.
Applying foresight Techniques to develop Product or Service Scenarios – Workshop activity
- Use trend analysis, technology roadmapping, and user experience foresight to conceive a new product or service.
- Guided scenario planning exercise to explore potential futures for the conceived product or service, considering different trends and uncertainties.
- Group presentations on the developed product/service scenarios, including the foresight strategies employed and the rationale behind strategic choices.
Case Studies from european organizations
PepsiCo
In 2008, PepsiCo embarked on a strategic transformation by redefining its research portfolio through forward-thinking methodologies.
By establishing specialized research divisions dedicated to exploring global ventures, PepsiCo surged to the vanguard of industry innovation. This strategic pivot empowered the company not only to foresee forthcoming trends but also to proactively mold them according to its vision.
AXA
AXA, a frontrunner in the insurance sector, exemplifies the potency of collaboration in forward-thinking initiatives. Through active involvement of both internal and external stakeholders, AXA tailors its research agenda to confront enduring trends such as climate risk and urbanization. Implementing initiatives like research funds and monthly foresight newsletters cultivates an environment of innovation and preparedness for the future, thereby ensuring that AXA’s vision resonates widely and is comprehensively embraced.
General Electric
In various industries, enterprises such as General Electric (GE) and E.ON showcase the transformative influence of innovation propelled by foresight. By employing strategies such as scenario planning and fostering partnerships with industry specialists, these corporations adeptly navigate through uncertainties and seize emerging opportunities. This proactive approach not only helps them stay ahead of the curve but also solidifies their positions as pioneers in their respective domains.
Siemens
Siemens underscores its commitment to innovation and forward-thinking solutions through programs such as the Future of Manufacturing and the Future Makers initiative. By immersing itself in technological advancements and market trends, Siemens delivers invaluable insights that shape its manufacturing and industrial offerings. In doing so, the company not only stays at the forefront of innovation but also contributes to the responsible evolution of infrastructure worldwide.
Nokia
Nokia exemplifies an unwavering dedication to forecasting and influencing the future through comprehensive foresight endeavors. Through publications such as the Technology Strategy 2030, Nokia offers invaluable insights into nascent technologies and evolving trends, establishing itself as a trailblazer in driving forward technological progress.
Audi
Audi, a leading figure in the automotive sector, underscores its dedication to innovation and progress in mobility and technology through foresight-driven initiatives. Emphasizing the responsible integration of emerging technologies such as autonomous driving and artificial intelligence, Audi takes the lead in initiatives like the foresight Academy. Collaborating with other esteemed German brands, Audi fosters a culture of forward-thinking, ensuring a sustainable and cutting-edge approach to future mobility solutions.