You can delay, but your competitors won’t.
” The only way to predict the future is to create it “
THE FUTURE : OPPORTUNITIES TO SEIZE, RISKS TO MANAGE
AUGMNT helps organizations of all sizes move beyond the complication of the environment, the increase of uncertainty and the dynamics of change. We work with all types of public and private organizations, governance bodies, professional firms, entrepreneurs and investors and stakeholders, helping them overcome the challenges, disruptions, uncertainty and complexity of the future with the goal of staying relevant and continuing to thrive today and tomorrow.
What is foresight ?
Foresight is first and foremost a natural ability that we human have to imagine new futures that was then well developed into a mature discipline. A foresight INITIATIVE has neither the aim nor the effect of “predicting or forecasting the future”. Foresight will never impose a single picture of THE future. As the authors put it: it is known as “a participatory and systematic process (Becker 2002, Burmeister et al 2004) that looks at the future as a mid-long term vision (Daheim, Uerz 2008) identifying risks and opportunities (Cuhls 2003) in the socio-cultural, economic, environmental, political, legal and technological (STEEPVL) area (Rohrbeck et al 2007) with the aim to support decision-making, to trigger the innovation process (Burmeister et al 2004) to identify new business models and to build scenarios to be communicated (Daheim, Uerz 2008)”.
Why foresight ?
Foresight provides “fore” sight or a vision forward by anticipating future risks and opportunities as well as rapid, interconnected and discontinuous change (R.I.D.) that can be disruptive if not destructive. It also allows preemptive actions the can create a competitive advance or even a disruptive one. Foresight allows the natural movement of an organization to move forward with its dynamic capabilities.
Future as disruption/destruction
Shorter corporate life
A recent study by McKinsey found that the average life-span of companies listed in Standard & Poor’s 500 was 61 years in 1958. Today, it is less than 18 years. McKinsey believes that, in 2027, 75% of the companies currently quoted on the S&P 500 will have disappeared.
During and after the COVID 19 pandemic, as many as 50 of the billion dollars companies disappeared in the United States only (McKinsey).
The firm CB Insights reports that since 2015, 154 of the biggest retailers went bankrupt and states that Amazon is not the only reason that physical retail is troubled — mounting debt and retailers’ own missteps and lack of adaptability are also to blame, among other factors.
WHAT WE DO
Organizational Foresight Program
Our foresight program is flexible and covers every angle from initiation, its deepening or integration into the organization in which case we assist the executive team in mapping and organizing their foresight department in a way that will be transparent, cooperative and interdependent with the other departments.
Foresight, an Introduction
An introduction to what foresight or prospective is, types of futures, gaps in perception and reality, practices, benefits of foresight, etc.
We conduct the foresight activities that lead to the necessary outputs required for the organization’s foresight-infused strategy.
We assist our clients to integrate their foresight ‘outputs” into their strategic plan. These steps are guided by the works of Mintzberg and Voros.
Merging art and science. We conduct scenario planning sessions in order to allow an augmented decision-making process based on insights, data and consequences awareness throughout the organization.
We help our clients create and monitor a database of the trends and signals to sense new directions and prioritize the relevant ones. These researches can be executed punctually or periodically according to the width and depth that are the most appropriate.
The foresight-augmented strategic plan will probably highlight the requirement for new activities, capabilities, assets, etc. This method helps an organization to unconceal those hidden or overseen internalities including innovations or the potential for.
We help organizations integrate the strategic decisions within the organization’s culture, processes and programs (like risk, continuity and readiness). and articulate the possible business models with a slighly augmented version of the Business Model Canvas.
Impact on performance
In one longitudinal study by René Rohrbeck and Menes Etingue Kum, it was found that “future-prepared” firms, defined as those with a corporate foresight practice, posted 33 percent higher profitability than the average company and 200 percent higher growth.
Furthermore, creating an engaging future and an equally engaging narrative about its future allows an organization to create thought leadership in its market and industry, and become more attractive to its customers, current and future employees, suppliers, bankers and investors. Finally, it creates a renewed business purpose.
The firm of the FUTUR
According to Bain.com, in order to be successful over the long term, organizations need an active Engine 1, which focuses on the core business, and an Engine 2, which innovates for the customers and capabilities of tomorrow.
This approach also refers to what is called the ambidextrous organization which indicates an organization’s ability to be aligned and efficient in its management of today’s business demands, as well as to adapt to changes in the external environment or for tomorrow’s business.
HOW WE WORK
Having a “maturity model” in mind, we look at the desired objectives, outcomes and impacts and select the right solution and the right participants to design the right intervention.
Strategic Advisory & Support
We understand how responsabilities and urgencies can drive a busy schedule but also how focusing on important matters drives the short to long-term results therefore we support the executive team in its foresight and integration efforts with our best advices and open, patient & flexible guidance.
Workshops. artifacts, etc.
Foresight is not only about creating a preferred future but is also about creating a conducive foresight culture. We offer master classes, seminars, workshops, coaching sessions for an hour, hours, half a day, a full day or several days. Programs can be punctual, periodic or scheduled over a short or long period of time. Again the objectives and needs of each organization are always taken into consideration to design and guide our interventions
Workshops. artifacts, etc.
Foresight is not only about creating a preferred future but is also about creating a conducive foresight culture.
In order to properly develop and implement the preferred future of the organization, we offer master classes, seminars, workshops, one-hour, one-hour, half-day, one-hour coaching sessions, day or several days. Programs can be one-off, periodic or scheduled over a short or long period. The objectives and needs of each organization are always taken into consideration to guide these interventions.
Traditionally, artifacts are objects made by humans representing an element of cultural or historical interest. In our case. they represent elements of the future chosen in order to better understand it or integrate it into the culture of the organization. In addition, when borrowed from software development practices, artifacts are roadmaps, models or databases, documents or graphics facilitating the understanding, reference or implementation of the preferred future in the organization.
To your success !
If you have questions or would like to initiate one of our solutions, do not hesitate de contact us so we can have a guiding conversation. We are here to help you.
Space intentionally left for the future.