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Corporate foresight as a microfoundation of dynamic capabilities

  • The dynamic capabilities perspective is aimed at explaining how firms achieve and sustain competitive advantages, especially in environments that become volatile, uncertain, complex, and ambiguous (VUCA). In this paper, we combine factors that explain dynamic capabilities on the firm level with factors of dynamic managerial capabilities on the individual level. In addition to the dynamic capabilities theory, we draw on corporate foresight (CF) literature to test the impact of CF training. We find that both the organizational-level practices and the individual-level training of leaders are positively associated with firm-level outcomes. We further observe that this relationship is mediated by dynamic managerial capabilities (i.e., the ability of leaders to challenge current business models, make decisions under uncertainty, and reconfigure organizational resources). Our findings emphasize the importance of training leaders and building organizational CF practices to build the dynamic capabilities needed in VUCA environments.

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Author of HS ReutlingenSchwarz, Jan Oliver
Erschienen in:Futures & foresight science
Place of publication:Hoboken, NJ
Document Type:Journal article
Publication year:2020
Tag:corporate foresight; dynamic capabilities; futures; microfoundation; peripheral vision
Page Number:11
First Page:1
Last Page:11
DDC classes:330 Wirtschaft
Open access?:Nein
Licence (German):License Logo  In Copyright - Urheberrechtlich geschützt