Foresight is a matter of studying the present, learning from the past and understanding the needs of the future.
In the wake of the global pandemic, and preceding, as well as resulting economic & political uncertainties, organisations and governments around the globe have been in a state of flux. Organisations and leadership have been marred with the precarious state of the global economy. Plans and strategies have gone awry. Existing structures have become redundant and challenges have changed.
IOD recognises, the only tool that will enable the development and sustenance of future-proof organisations and future-ready boards today is the tool - ‘Strategic Foresight’.
The OECD (Organisation for Economic Co-operation and Development) Paper - “Strategic Foresight for Better Policies: Building Effective Governance in the Face of Uncertain Futures” (October 2019) defines strategic foresight as, “A systematic approach to looking beyond current expectations and taking into account a variety of plausible future developments in order to identify implications for policies today.” The Paper also elaborates, “It does this by revealing implicit assumptions, challenging dominant perspectives, and engaging with surprising and significant disruptions that might otherwise be dismissed or ignored.”
Basis the above it is clear, going forward, Boards’ strategies & policies based on insights derived from foresight will be enable the boards to establish a competitive advantage for their sustained growth.
IOD aims to:
Sensitise the Boardroom community on ‘Strategic Foresight for Boards’
Train Boardroom leaders to develop foresight capabilities
Contribute to developing some of the first ‘Strategic Foresight Professionals’ in the country
Develop a framework for the ‘Board’s Strategic Foresight’, and equip organsiations to develop a customised framework, suitable to their organisation and industry